Dublin, March 17, 2022 (GLOBE NEWSWIRE) -- The "Energy Harvesting System Market Report 2022 - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The energy harvesting systems market is expected to reach $15.01 billion by 2028, at a CAGR of 26.3% during the forecast period, 2021-2028.
Rising adoption of energy harvesting systems (EHS) in rural areas, growing demand for safe, power-efficient, and durable energy systems, increasing green energy trends, and favorable initiatives by the government are the key factors driving the growth of the energy harvesting systems market.
The study evaluates industry competitors and analyzes the market at the country level.
Based on component, the energy harvesting systems market is segmented into power management, sensors, transmitters, and other components. The power management is further segmented into regulators, power management integrated circuits (PMIC), controllers, and converters. The sensors segment is projected to grow at the highest CAGR during the forecast period.
The high growth rate of this segment is mainly attributed to the growing demand for low-cost integrated circuits for signal processing, communication, and data collection functions; and low-power wireless communications interfaces.
Based on type, the power management market is segmented into regulators, power management integrated circuits (PMIC), controllers, and converters. The PMIC segment is projected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is mainly attributed to the ability to transform extracted power into energy for the storage element and management of its start-up sequence with sufficient energy present.
Based on the energy source, the energy harvesting systems market is segmented into solar energy, thermal energy, RF energy, and piezoelectric energy. The thermal energy segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is mainly attributed to demand for recovering waste heat from engines, machines, and the human body to charge wearables, industrial and domestic devices worldwide.
Based on industry, the energy harvesting systems market is segmented into consumer electronics, military & aerospace, healthcare, automotive, industrial automation, and other industries. The healthcare segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is mainly attributed to the types of energy harvesting applications used in the healthcare industry, such as human energy harvesting, solar energy harvesting, and infrared radiation harvesting.
Based on application, the energy harvesting systems market is segmented into wireless switching systems, wireless HVAC systems, wireless sensing and telematics systems, tire pressure monitoring systems, asset tracking systems, remote health monitoring systems, and regenerative energy harvesting systems.
The remote health monitoring system segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is mainly attributed to the increasing demand for remote health monitoring systems among patients and healthcare professionals to monitor health conditions, such as heart conditions, diabetes, and blood pressure.
Based on geography, Asia-Pacific is expected to grow at the highest CAGR during the forecast period. The high growth rate of this region is mainly attributed to the growing demand for electricity across industrial applications and increasing demand for ultra-low power devices for energy conservation across the region.
Countries such as China, Japan, India, and South Korea are the major adopters of energy harvesting systems. The countries in Asia-Pacific have started setting renewable energy targets for medium- to long-term periods to promote the use of renewable energies for electricity generation.
Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of component, energy source, industry, application, and geography?
- What is the historical market size for the energy harvesting systems market?
- What are the market forecasts and estimates for the period 2021-2028?
- What are the major drivers, restraints, opportunities, and challenges in the energy harvesting systems market?
- Who are the major players operating in the market, and what shares of the market do they hold?
- Who are the major players in various countries?
- How is the competitive landscape for the energy harvesting systems market?
- What are the recent developments in the energy harvesting systems market?
- What are the different strategies adopted by the major players operating in the market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the energy harvesting systems market, and how do they compete with the other players?
Market Dynamics
Drivers
- Increasing Adoption of Energy Harvesting Systems in Rural Areas
- Growing Need to Harvest Energy from Sustainable Sources
- Rising 'Green Energy' Trend and Favorable Government Initiatives
Restraints
- High Initial Costs
- Limitations of Remotely Installed Networking Modules
Opportunities
- Ocean Energy Harvesting
- Integration of Sensors in Wearable Electronics
Challenges
- Lack of Awareness Regarding Energy Harvesting Systems
The key players operating in the energy harvesting systems are
- 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.)
- Drayson Technologies Ltd. (U.K.).
Scope of the Report
Energy Harvesting Systems Market, by Component
- Power Management
- Regulators
- Power Management Integrated Circuits (PMIC)
- Controllers
- Converters
- Sensors
- Transmitters
- Other Components
Energy Harvesting Systems Market, by Energy Source
- Solar Energy
- Thermal Energy
- RF Energy
- Piezoelectric Energy
Energy Harvesting Systems Market, by Industry
- Consumer Electronics
- Military & Aerospace
- Healthcare
- Automotive
- Industrial Automation
- Other Industries
Energy Harvesting Systems Market, by Application
- Wireless Switching Systems
- Wireless HVAC Systems
- Wireless Sensing and Telematics Systems
- Tire Pressure Monitoring Systems
- Asset Tracking Systems
- Remote Health Monitoring Systems
- Regenerative Energy Harvesting Systems
Energy Harvesting Systems Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
For more information about this report visit https://www.researchandmarkets.com/r/kxsel9
