Dublin, Sept. 12, 2023 (GLOBE NEWSWIRE) -- The "MEMS Energy Harvesting Devices Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The MEMS Energy Harvesting Devices Market, valued at USD 66.06 million in the previous year, is forecasted to exhibit robust growth at a Compound Annual Growth Rate (CAGR) of 6.37%, aiming to achieve a market value of USD 92.62 million by the end of the forecast period.
Revolutionary Applications of Energy Harvesting
The field of energy harvesting is undergoing a profound revolution, expanding its utility beyond traditional applications such as bicycle dynamos or solar panels. This transformative technology is now finding extensive applications in building and industrial automation, automotive vehicles, smart cities, and security systems. Governments and proactive public initiatives play a pivotal role in driving the demand for energy harvesting, recognizing it as a vital tool for addressing escalating energy requirements and promoting energy conservation. The advent of Big Data and the Internet of Things (IoT) has spurred the development of autonomous energy-harvesting devices that require less maintenance and offer easier installation compared to conventional batteries.
The market for commercial building automation is thriving, expected to witness significant growth through smart city initiatives. Energy harvesting wireless solutions are gaining traction in building and home automation, owing to their potential for cost savings in installation and maintenance. These wireless technologies serve as the ideal communication standard, facilitating seamless interconnectivity for thousands of building devices and fostering innovation in monitoring and control applications.
Role of Microelectromechanical Systems (MEMS)
Microelectromechanical systems (MEMS) have emerged as the technology of choice for realizing IoT-sensing nodes. They enable the integration of sensors, actuators, electronic circuits, communication systems, antennas, and energy harvesters onto a single chip or package. MEMS technology is adept at interacting with various physical phenomena, including mechanical forces, piezoelectric effects, and thermoelectric forces. This versatility positions MEMS as a vital tool for miniaturizing energy harvesting solutions.
Recent strides have been made in harvesting energy from mechanical vibrations, thermal gradients, electromagnetic radiations, and solar radiations. These advancements offer alternative power sources for portable devices, replacing conventional batteries. Challenges remain, particularly in creating ultra-low-power electronic devices, a critical factor influencing the adoption of MEMS-based harvesting devices.
Impact of COVID-19 on Remote Patient Monitoring and Wearables
The pandemic has expedited the shift towards patient-centric healthcare and fueled the demand for remote patient monitoring, including telehealth, point-of-care devices, and wearables. The surge in demand for wearables, leveraging energy harvesters, has led to innovations in tracking metrics like temperature and blood pressure. This trend is driving opportunities in the wearables market and for integrated MEMS sensors catering to pressure, inertial, microphones, thermopiles, and more.
Trends: Building and Home Automation Dominates
The building and home automation sector is poised to occupy a significant market share in the MEMS energy harvesting devices landscape. The technology is integral to powering and enhancing various automated systems within residential and commercial structures. It encompasses applications like wireless sensor networks for monitoring vital parameters, energy-efficient LED lighting, smart thermostats, HVAC controls, and security systems. MEMS energy harvesting devices are instrumental in operating smart home devices, ensuring seamless personalized experiences for occupants.
Asia-Pacific - A Hub of Innovation
Countries in Asia-Pacific, including China, Japan, South Korea, and Taiwan, are at the forefront of MEMS technology development. With advanced research facilities fostering innovation, these nations are propelling the boundaries of MEMS harvesting devices. The region is a manufacturing hub for consumer electronics, driving the demand for portable devices like smartphones and wearables. The adoption of MEMS technology for automotive sensors is playing a pivotal role in enhancing vehicle safety and efficiency. Government initiatives promoting clean energy technologies are further accelerating the growth of the MEMS harvesting device market in the region.
Market Dynamics
The growth of smart cities and the expansion of commercial applications into industrial settings and home automation appliances are primary market drivers. However, the market is restrained by challenges related to ultra-low-power electronics and wireless data transmission rates and standards.
Major players in the MEMS Energy Harvesting Devices market are
- EnOcean GmbH
- Micropelt
- STMicroelectronics NV
- Coventor Inc.
- Holst Centre
- Morgan Electro Ceramics
- MicroStrain
- MEMS Vision
- Sofant Technologies
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- Mems Energy Harvesting Devices Market M E M S Energy Harvesting Devices Market Growth Rate By Region
