Energy Harvesting System Market Growth Owed to Alarming Pollution Levels

Annually, 35,000–45,000 pounds of CO2 emissions are attributed to an average person. The increasing global carbon footprint and rising amount of greenhouse gas emissions are leading to climate change.

The changing climate, shifting rainfall patterns, and rising temperature are further resulting in the depletion of natural resources, upon which numerous economies are dependent. The governments across the globe, in order to remedy this situation, are focusing on ways to reduce the carbon footprint.

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The process of energy harvesting converts wasted energy, which is accumulated, into currents and electrical voltages. The systems used for the purpose of harvesting energy also make sure that the electricity bill doesn’t burn a hole in individuals’ pockets.

The natural resources generally used for the generation of energy, for example fossil fuels, are finite and take a heavy toll on the environment.

As per the BP Statistical Review of World Energy, in 2010, the world was left with only 188.8 million tons of oil in the reserves that are known to humans, which is only enough to meet the world’s demands for the coming 46.2 years. Thus, it has become vital to look for new ways that could help generate energy and reduce environmental degradation, and energy harvesting could be the way to achieve this.

The global energy harvesting system market attained a value of $358.5 million in 2017, and it is further predicted to grow at a CAGR of 11.0% in the coming years. The growth of the market is because of the rising adoption of internet of things (IoT) and increasing demand for power-efficient systems for building automation.

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Bits of wasted energy in the form of light, sound, vibration, and heat are captured by energy harvesting systems. With the help of components such as transducers, power management integrated circuit (PMIC), and storage systems, the wasted energy is collected and used.

The worldwide construction industry spending amounted to $11.4 trillion in 2018 and is expected to attain a value of $14.0 trillion in the near future. The growing construction industry is further leading to the rising demand for automated devices and appliances.

Building and home automation requires automated devices such as heating, ventilation, and air conditioning (HVAC) systems. Apart from these, lighting and security, and the control of home appliances, including washers, dryers, ovens, refrigerators, and freezers, are some areas where energy harvesting systems can come in handy.

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Sensor-based technologies and self-powered wireless technology are being installed in buildings and houses. Self-powered wireless modules utilize the energy produced from actions such as pressing a button and turning of a handle or from tiny solar cells.

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This release was published on openPR.