Energy Harvesting System Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

The energy harvesting system market is projected to grow from USD 0.6 billion in 2023 and is projected to reach USD 0.9 billion by 2028; it is expected to grow at a CAGR of 10.0% from 2023 to 2028.

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The growth of the energy harvesting system market is driven by miniaturization and flexibility requirements, and growing preference for wireless sensor networks equipped with energy harvesting systems.

Body motion energy harvesting is an innovative technology that converts kinetic energy from human body movements into electrical power. It utilizes piezoelectric materials or electromagnetic induction to capture and convert motion into usable electricity. By integrating these technologies into wearable devices or structures that come into contact with body movements, such as clothing or wristbands, it becomes possible to generate electricity from the body's natural motions. This technology has the potential to power small electronic devices such as smartwatches and fitness trackers, offering sustainability and convenience by harnessing the energy produced during daily activities. Ongoing research aims to improve the efficiency and reliability of body motion energy harvesting systems for seamless integration into wearable electronics.

The market for power management integrated circuits (PMICs) segment is expected to grow at a significant rate during the forecast period. Power management integrated circuits (PMICs) are connected to energy harvesting devices and batteries for power regulation. The intermittent, low energy generated from transducers is stored in a storage device, typically a battery, capacitor, or supercapacitor. A PMIC offers buck, boost, or linear DC/DC conversion depending on the type of transducer used. It controls the outflow of power from the storage battery and maintains the threshold level of the energy stored in it. Analog Devices, Inc. (US), STMicroelectronics (Switzerland), Texas Instruments Incorporated (US), Advanced Linear Devices (US), Nexperia (Netherlands), and Micropelt GmbH (Germany) are the major companies offering power management ICs for energy harvesting systems. The growing use of light energy harvesting technology in building & home automation, consumer electronics, transportation systems, security, and city infrastructure is driving the growth of the PMIC market. Along with light energy harvesting technology, vibration energy harvesting applications in building automation for switches, remotes, gateways, air quality monitoring systems, and many others is also boosting the PMIC market.

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In terms of geographic coverage, the energy harvesting system market has been segmented into 4 regions, namely, North America, Europe, Asia Pacific and Rest of the World (RoW). The energy harvesting system market in the North America is witnessing robust growth, driven by several key factors. One of the primary market drivers is the increasing implementation of smart grid systems and the integration of renewable energy sources into existing power infrastructure. Government support for renewable energy projects and incentives for clean energy adoption also create a favorable environment for energy harvesting technologies. Another critical driver is the expanding Internet of Things (IoT) market in the country. Energy harvesting systems play a pivotal role in powering IoT devices, enabling wireless and autonomous operation. The need for sustainable and self-powered IoT solutions is fuelling the demand for energy harvesting technologies in the North America.

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