The global energy harvesting market was worth US$ 511.6 Million in the year 2020 and is expected to reach US$ 1 Billion by the year 2032 at a CAGR of 7.5% between 2022 and 2032.
The ongoing trend of green energy harvesting is governing the energy harvesting market. The governments are also driving conducive initiatives. Industrial WSNs (Wire Sensor Networks) also use energy harvesting, which is catalyzing the energy harvesting market.
Nanotechnology has made way for handsome growth opportunities as it helps in producing compact-sized devices.
Vibration technology holds more than 30% of the market share. TEGs (Thermoelectric Generators) are used for converting ambient thermal energy to electric energy. They comprise thermopiles, which could be further broken down into p-type and n-type junction. Piezoelectric vibration technology and electrostatic vibration technology are the others in line.
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Electrodynamic energy harvesting systems enable conversion of ambient vibration into electricity through electrical conductors’ and magnets’ motion.
Future Market Insights has etched these facts with future perspectives in its latest market study entitled ‘Energy Harvesting Market’. It has its determined team of analysts and consultants to execute using an eagle’s eye view in its primary, secondary, and tertiary modes of research.
“With growing adoption of wireless sensor networking and IoT for home automation and control systems, the global energy harvesting market is expected to grow well in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Energy Harvesting Market
- The Asia-Pacific is expected to witness maximum growth in the energy harvesting market in the near future with countries like India, Japan, South Korea being home to expansion of verticals like consumer electronics, transportation, and industrial automation.
- MEA is expected to grow on the back of Egypt, South Africa, UAE, and Saudi Arabia going for building smart cities in the next few years.
- Europe is expected to grow due to initiatives of the governments to curtail carbon emissions.
- North America is expected to witness steadiness in the energy harvesting market in the near future.
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Competitive Harvesting
- Axzon, in February 2020, collaborated with Cymbet Corporation for creating the lowest power IoT sensor tags, which does enable continuous data logging and monitoring of the key environmental conditions during logistics chain of medications, produce, and meat at any stage in logistics flow.
- STMicroelectronics, in February 2021, did announce launching a novel generation of extreme power-saving MCUs (microcontrollers) called STM32U5 series for meeting performance/power requirements for the smart applications inclusive of personal medical devices, wearables, industrial sensors, and home automation.
- EnOcean, in May 2021, did present PTM 535BZ module as an addition to PTM 535 for Zigbee applications.
- Samsung, in July 2019, announced inventing smart clothing abreast with an in-built energy harvester that gets power from body heat and solar light. This clothing would basically act as a power source for smartphone and smart glasses. Even a jog in park would help in creating power for smartphone.
- Huawei, in June 2019, did announce collaborating on the part of NB-IoT device SoC with NOWI based out of The Netherlands for enabling forming new-fangled IoT applications needing zero power supply and zero maintenance.
- E-Peas SA, in January 2022, did announce launching an Ultra-Compact Custom Power Management Solution for Cartier’s First Solar Energy harvesting Watch called the Tank Watch.
- Advanced Linear Devices, Inc., in January 2022, did announce nano-powder precision P-Channel EPAD MOSFET array to maximize power efficiency. The end-users comprise medical, automotive, robotics, transportation, and wireless product makers.
- Energous Corporation, in September 2022, did announce launching e-peas, a wireless energy harvesting evaluation kit.
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What does the Report harvest?
- The research study is based on source (radiation (solar, electromagnetic, and light), mechanical (fluid, elastic, kinetic, and potential), chemical (battery, fuel cells, and phase change), nuclear, magnetic, electric, thermal, and gravitational), and by application (WSN (wireless sensor network), consumer electronics industrial, building, bicycle dynamo, military and aerospace, automotive, healthcare, and likewise (research, farming, and animals)).
- With green energy harvesting on the rise, the global energy harvesting market is expected to grow on an astonishing note in the near future.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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