Energy Harvesting System Market to Witness Huge Growth by 2026 | ABB (Switzerland), Linear Technology (US), Convergence Wireless (US), Cymbet (US), EnOcean (Germany), Fujitsu (Japan), Honeywell (US), ST Microelectronics (Switzerland), Powercast Corporatio

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The major players in the energy harvesting system market are ABB (Switzerland), Linear Technology (US), Convergence Wireless (US), Cymbet (US), EnOcean (Germany), Fujitsu (Japan), Honeywell (US), ST Microelectronics (Switzerland), Powercast Corporation (US) and Texas Instruments (US).

The increasing trend for green energy and favorable initiatives by governments are the driving factors for the growth of the energy harvesting system market globally

The energy harvesting system market is estimated to be worth USD 468 million in 2021 and is projected to reach USD 701 million by 2026, at a CAGR of 8.4 %. The growing demand for safe, power-efficient, and durable systems that require minimum or no maintenance, surging implementation of IoT devices in automation and energy harvesting systems for building and home automation, increasing trend for green energy and favorable initiatives by governments, rising adoption of wireless sensor networks equipped with energy harvesting systems are some of the prominent factors for the growth of the energy harvesting system market globally.

The market for light energy harvesting technology could grow at the highest CAGR during the forecast period

The light energy harvesting technology segment, especially the solar energy harvesting technology segment, held the largest market size in 2020, and the same trend is likely to continue in the next few years owing to the increase in the manufacturing of solar-based products and the growing efficiency of photovoltaic cells. Solar energy is the most widely available natural resource that can be easily converted into electricity. The vibration energy harvesting segment is expected to account for the second-largest share of the market owing to the use of products such as piezoelectric devices in various applications, such as industrial and transportation.

The market for transducer component is estimated to account for the largest share during the forecast period in the energy harvesting system market

The table shows that transducers led the energy harvesting market, followed by secondary batteries, and a similar trend is likely to continue in the near future. Transducers being costlier than PMICs and batteries, account for the largest size for the energy harvesting system market. Transducers can be used as a standalone device or can also be used with other components.

The energy harvesting system market in the Americas is expected to witness robust growth during 2021-2026

The Americas includes the US, Canada, Mexico, and South America. This region is involved in the development and deployment of energy harvesting systems. There is increasing use of green energy in industrial, residential, and consumer verticals in North America. After building and home automation, industrial and transportation are the major applications using energy harvesting systems. For instance, California decided to run an experiment on heavy traffic, which is likely to be fitted with piezoelectric transducers. These transducers convert the vibration energy generated by vehicles (both stationary and in motion), into electricity that can be used as a power source for buildings, homes, and streetlights.

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