Press release
Energy Harvesting System Market to Achieve a Valuation of $15.01 Billion by 2028
Meticulous Research®, a global leader in market research, unveils its latest report titled "Energy Harvesting System Market," providing comprehensive insights into the market dynamics and growth prospects. The report forecasts a remarkable CAGR of 26.3%, propelling the market value to $15.01 billion by 2028.
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Key Market Drivers
The surge in energy harvesting systems (EHS) adoption in rural areas, escalating demand for secure, power-efficient, and robust energy systems, the upward trajectory of green energy trends, and favorable government initiatives stand out as pivotal factors steering the energy harvesting systems market's growth.
Segmentation Insights
Component Breakdown:
• Power Management: Primed to dominate in 2021, exhibiting the largest market share.
• Sensors: Anticipated to record the highest CAGR during the forecast period, fueled by growing demand for low-cost integrated circuits for sensing, signal processing, communication, and data collection.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/energy-harvesting-system-market-5235
Power Management Type Analysis:
• PMIC (Power Management Integrated Circuits): Projected to lead in market share and CAGR in 2021, owing to its prowess in transforming extracted power into energy for storage elements and managing startup sequences with ample energy.
Energy Source Overview:
• Solar Energy: Expected to command the largest share in 2021 due to the escalating need for passive solar design, solar hot water systems, solar space heating, and electrical generation globally.
• Thermal Energy: Foreseen to exhibit the highest CAGR during the forecast period.
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Industry Insights:
• Consumer Electronics: Predicted to secure the lion's share in 2021, propelled by the escalating adoption of solar energy-based energy harvesting solutions.
Application Snapshot:
• Asset Tracking Systems: Envisaged to capture the largest market share in 2021, fueled by the growing demand for monitoring the physical location and status of movable and fixed assets worldwide.
• Remote Health Monitoring Systems: Expected to showcase the highest CAGR during the forecast period.
Geographical Overview:
• North America: Projected to hold the largest market share in 2021, attributed to the presence of major energy harvesting companies and a surging demand for green energy across various sectors.
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Noteworthy Developments
Energy harvesting systems find application in home automation, industrial settings, and transportation. Notably, California has initiated an experiment involving the installation of piezoelectric transducers on roads experiencing heavy traffic. These transducers convert the vibrational energy generated by vehicles into electricity, serving as a power source for buildings, homes, and streetlights.
Key Players Shaping the Landscape
The energy harvesting systems market is marked by prominent players, including ABB Ltd (Switzerland), Analog Devices, Inc. (U.S.), Texas Instruments Incorporated (U.S.), Cymbet Corporation (U.S.), EnOcean GmbH (Germany), STMicroelectronics N.V. (Switzerland), e-peas SA (Belgium), Advanced Linear Devices, Inc. (U.S.), Piezo.com (U.S.), Cypress Semiconductor Corporation (U.S.), Powercast Corporation (U.S.), Laird Thermal Systems, Inc. (U.S.), DCO Systems Ltd (U.K.), Honeywell International Inc. (U.S.), and Drayson Technologies Ltd. (U.K.).*
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