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  • February 2020
  • 212 pages
  • ID: 4825330
  • Format: PDF
  • By Inkwood Research


Table of Contents

The global energy harvesting market is estimated to grow at a CAGR of 10.07% during the forecast period of 2020-2028. The factors fueling the market growth are technological advancements in manufacturing industries, the development of smart cities leading to the growth of sensors, and IoT implementation for building automation.

Energy harvesting is the process in which the natural sources of energy are used and stored in the form of energy.Energy harvesting systems are mainly used in watches, sensors, and home appliances.

These systems are an effective alternative to the use of batteries, and have the advantage of being operated infinitely without affecting the environment adversely.The energy harvesting devices have evolved owing to technological innovations.

The implementation of these systems has reduced the dependence on batteries for power supply.Piezoelectric material and the thermoelectric material are the most common form of technologies used for energy harvesting.

There are various advantages of using energy harvesting solutions, such as meeting the global energy demand by using the lost energy. Hence, these technologies are mostly used to improve the effectiveness of the offices and household devices. The key drivers are the growing development of smart cities, technological advancements in manufacturing industries, and IoT implementation for building automation. The market is restrained by high initial deploying costs, the low adoption rates in developing countries due to high prices, and IoT implementation for building automation.

The global energy harvesting market is analyzed geographically on the basis of markets spread across the regions of Europe, North America, Asia, and the Rest of the World. The market region of Europe holds the largest market share as of in 2019 in terms of revenue, and continues the trend by the end of the projected period.which is attributed to a wide number of projects undertaken by EU nation-states, and the EU parliament’s initiative to increase renewable resources ]of energy, and growing investments in sustainable energy technology. The region of Asia Pacific is predicted to be the fastest-growing market region in terms of revenue because of the Internet of Things, which has swept across Asia.

There are a number of prominent companies operating in the market offering energy-efficient products and solutions. Some of the major companies registering their presence in the market are Laird Technologies, ABB, Ltd., Convergence Wireless, Fujitsu Limited, Green TEG,etc.

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