Energy Harvesting System Market to Hit USD 1185.23 Million by 2030 due to Rising Energy Demand and Environmental Concerns | By SNS Insider

As per SNS Insider analysis, the energy harvesting system market is on a remarkable growth trajectory, driven by technological advancements, environmental concerns, IoT integration, wearable technology, remote applications, government support, and infrastructure demands.

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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 AttributesDetails
Market Size in 2022USD 583.6 million
Market Size by 2030USD 1185.23 million
CAGRCAGR of 9.26% From 2023-2030
Key SegmentsBy 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/CoverageNorth 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)
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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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