Pune, Aug. 07, 2023 (GLOBE NEWSWIRE) -- The SNS Insider report states that “The Energy Harvesting System Market reached a value of USD 583.6 million in 2022 and is projected to expand to USD 1185.23 million by 2030, exhibiting a CAGR of 9.26% during the forecast period from 2023 to 2030”.
Market Report Scope
An energy harvesting system, also known as energy scavenging or power harvesting, is a cutting-edge technology designed to capture and accumulate energy from various ambient sources in our surroundings. These sources include sunlight, wind, heat, vibrations, and even radio frequency signals. Unlike traditional energy generation methods that require large-scale infrastructures and significant investments, energy harvesting systems rely on sustainable and abundant resources available in nature.
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Market Analysis
As energy efficiency becomes a priority in modern infrastructure development, energy harvesting systems find applications in smart buildings, green transportation, and smart cities. The ever-increasing global demand for energy, coupled with environmental concerns over carbon emissions and fossil fuel depletion, has compelled industries and consumers to seek sustainable and greener alternatives. Energy harvesting systems offer an eco-friendly solution by tapping into renewable energy sources, thereby reducing greenhouse gas emissions and contributing to a cleaner environment. Many governments worldwide have recognized the significance of renewable energy technologies and are offering incentives, subsidies, and grants to promote the adoption of energy harvesting systems. These policy measures encourage research and development, fostering the growth of the energy harvesting system market.
Energy Harvesting System Market Overview & Scope:
| Report Attributes | Details |
| Market Size in 2022 | USD 583.6 million |
| Market Size by 2030 | USD 1185.23 million |
| CAGR | CAGR of 9.26% From 2023-2030 |
| Key Segments | By Technology (Lights, Vibration, Radio Frequency, and Thermal) By Component (Sensor, Transducer, Power Management IC (PMIC), Secondary/Backup Battery, and Others) By Application (Consumer Technology, Home & Building Automation, Industrial, Transportation, Security, and Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands,Rest of Europe), Asia-Pacific (Japan, South Korea,China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| 20% free customization scope (equivalent to 50 analyst working hours) | If you need specific information as per your business requirement, which is not currently within the scope of the report, we will provide it to you as a part of customization. |
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Impact of Recession
The energy harvesting system market is not immune to the impacts of economic recessions. Reduced investment, delayed projects, disrupted supply chains, and cautious consumer behavior are challenges that the industry may face during such times. However, recessions can also serve as a turning point for technological advancements and government support, creating opportunities for the industry to adapt, innovate, and emerge stronger.
Impact of Russia-Ukraine War
The Russia-Ukraine War has had a multifaceted impact on the energy harvesting system market. While the geopolitical crisis has posed challenges, it has also presented new opportunities for growth and innovation. As the world transitions towards sustainable and secure energy solutions, the energy harvesting industry stands to play a pivotal role in reshaping the global energy landscape. Companies must stay agile, adapt to changing market dynamics, and collaborate with governments and stakeholders to navigate the complexities brought about by the ongoing crisis.
Key Regional Development
The energy harvesting system market is witnessing significant growth across the globe, driven by increasing environmental concerns and the demand for sustainable energy solutions. Different regions display unique dynamics shaped by their economic, social, and regulatory environments. While North America and Europe are leading the charge with substantial government support and industrial demand, the Asia-Pacific region is experiencing rapid adoption due to its large population and growing industrial base.
Key Takeaway from Energy Harvesting System Market Study
- The lights segment within the market has gained immense popularity due to its versatility and potential to revolutionize the lighting industry. The technology behind harvesting energy from lights revolves around converting ambient light sources, such as sunlight, indoor lighting, and even streetlights, into electrical energy.
- The consumer technology segment in the market is gaining traction by enabling self-sustaining and autonomous electronic devices. The integration of energy harvesting technology in consumer electronics empowers these devices to generate energy from their surroundings, significantly extending their battery life or even eliminating the need for traditional batteries altogether.
Recent Developments Related to Energy Harvesting System Market
- Asahi Kasei Microdevices Corporation, a leading innovator in semiconductor technology, has once again raised the bar in the field of efficient energy harvesting with the launch of their cutting-edge DC-DC step-up converter.
- Drayson Technologies has unveiled its latest marvel: the Next Generation Biometric Smart Cards, ingeniously powered by Freevolt energy harvesting. This cutting-edge development promises to revolutionize the way we interact with smart devices and ensure a greener, more secure future.
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Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia- Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Energy Harvesting System Market Segmentation, By Technology
8.1 Lights
8.2 Vibration
8.3 Radio Frequency
8.4 Thermal
9. Energy Harvesting System Market Segmentation, By Component
9.1 Sensors
9.2 Transducers
9.3 Power Management IC (PMIC)
9.4 Secondary/Backup Batteries
9.5 Others
10. Energy Harvesting System Market Segmentation, By Application
10.1 Consumer Technology
10.2 Home & Building Automation
10.3Industrial
10.4 Transportation
10.5 Security
10.6 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 The Middle East & Africa
11.6 Latin America
12 Company Profile
12.1 ABB
12.1.1 Market Overview
12.1.2 Financials
12.1.3 Product/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Schneider Electric
12.3 Bionic Power, Inc
12.4 STMicroelectronics
12.5 Cymbet
12.6 EnOcean GmbH
12.7 Powercast Corp.
12.8 Mahle GmbH
12.9 Analog Devices, Inc.
12.10 Texas Instruments, Inc
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Cases and Best Practices
15. Conclusion
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