Press release
Energy Harvesting System Market is Booming and Predicted to Hit US$ 969.2 Million by 2028
Energy Harvesting System Market Report 2023
Report Highlights
How big is the energy harvesting system market?
The global energy harvesting system market size reached US$ 480.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 969.2 Million by 2028, exhibiting a growth rate (CAGR) of 12.6% during 2023-2028.
What is an energy harvesting system?
Energy harvesting (EH), or energy scavenging, is the process of converting ambient energy, such as solar, vibration, thermal, wind, etc., into electrical energy. Energy harvesting systems eliminate the need for conventional power sources, including power cables and batteries, thereby reducing the overall cost and easily power remotely located electronic devices, wearable electronics, and sensor networks. These systems are easy to use, durable, require low maintenance, reduce carbon emissions, etc.
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What are the growth prospects and trends in the energy harvesting system industry?
The growing demand for efficient and safe power systems is one of the key factors driving the energy harvesting system market. These systems are majorly utilized in wireless sensors, consumer electronics, wearable electronic equipment, etc., which is another growth-inducing factor. In addition to this, government bodies of numerous countries across the globe are promoting the use of green energy sources, further propelling the market growth. Moreover, the easy availability of renewable energy sources, such as wind and tidal, also results in the increasing utilization of these systems across various sectors. Besides this, piezoelectric energy harvesting systems have emerged as a reliable solution for powering remote sensor systems, thereby creating a positive outlook for the market. Furthermore, the incorporation of the Internet of Things (IoT) solutions with energy harvesting systems is anticipated to fuel the global market over the forecasted period.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Technology:
Light Energy Harvesting
Vibration Energy Harvesting
Electromagnetic/Radio Frequency (RF) Energy Harvesting
Thermal Energy Harvesting
Others
Breakup by Component:
Transducers
Power Management IC (PMIC)
Storage Unit
Breakup by Application:
Consumer Electronics
Building and Home Automation
Transportation
Healthcare
Others
Breakup by Region:
North America (U.S. Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East Africa
Who are the key players operating in the industry?
The report covers the major market players including:
ABB Ltd.
Analog Devices Inc.
Cymbet
Cypress Semiconductor Corporation (Infineon Technologies AG)
EnOcean GmbH
Fujitsu Limited (Furukawa Group)
Honeywell International Inc.
Microchip Technology Inc.
Powercast Corporation
STMicroelectronics SA
Texas Instruments Incorporated.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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