Energy Harvesting System Market Size To Hold USD 1,503.9 Mn By 2030

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Table of Content

The global energy harvesting system market size was exhibited at USD 646.61 million in 2022 and is expected to hold around USD 1,503.9 million by 2030, poised to grow at a CAGR of 11.13% from 2022 to 2030.

Report Highlights

• There is an increase in the demand for energy harvesting systems that are durable, cost-effective, and safe, this happens to be the major reason for the growth of the market and R& D for the same.
• The availability of energy that is generated is available for use only for a very short period of time. So, this happens to be a drawback. Also, the transmitter and the receiver should be in a range where the signals can be caught.
• There have to be norms for standardization of the communication protocol and sensors in order to make it easy for analysis.

Energy Harvesting System Market Report Scope

Regional Snapshot

The maximum amount of revenue was generated in the US in the North American region due to a flourishing industrial and transportation sector. The market is expected to grow substantially. Because of low operational and labor costs, many industry players are thinking of changing their manufacturing facilities and locating them in Asia Pacific. Asia Pacific market is expected to grow owing to the techno-savvy population and high purchasing power. The largest market for this sector is the North American region due to rapid technological developments in the field of energy harvesting and building in home automation investments. There is a boost in this technology in North America. The current technological advancements in the North American region have become a very important factor in the growth of this technology for building and home automation investments

Market Dynamics

Drivers

An ever-increasing demand for durable systems that are powerful, efficient, and safe which require minimum or almost no maintenance. Is on the rise, so this seems to be the driver for the. Energy harvesting system market. No external electricity is required to charge the device. So, there is no use of cable-supportable batteries. It automatically leads to a reduction in the maintenance cost and helps in saving the operating cost. In ocean Germany. Was able to save 40% of the energy cost by automatically controlling the lighting in buildings where several wireless and self-power switches were installed.

Restraints

Low-power applications use energy harvesting systems, for example, medical equipment, transportation, military, Mobile, and portable markets and for better signal transmission the transmitters, as well as the receiver, should be installed in the proximity of one another. The energy generated by the harvester can be used only for a very short period of time. This happens to be the disadvantage of the system

Opportunities

The use of energy harvesting systems in small consumer electronic products is a good opportunity for investments. Watch is made with sensors, which help in monitoring activity and health. In order to provide an efficient output, the sensors require a long-lasting power supply. So, in order to meet this requirement energy harvesting systems are a good option.

Challenges

Many companies follow their own communication protocol. There is no standardization of the communication protocol which hinders the development of such products. Communication Protocol is a very important factor that connects the devices. It's the difference in these protocols that bring down the growth of the company's product and it also affects the growth of the new entrant.

Recent Developments

• EnOcean presented the latest module in May 2021 which was PTM 535BZ, it was the latest transmitter among the range of transmitter modules that have battery-free switch applications. There are other already existing modules like the PTM535BZ which offers a combination of supported wireless standards in the 2.4 GHz radio band.
• In Singapore ABB robots were used for corona testing during the pandemic, it automates a few systems which are a few manual steps to sample testing. These robots are used as the city’s Rapid automated volume enhancer testing and close to 4000 samples are tested every day by 2 different types of systems. 
• Linear technology was acquired by analog devices in march 2017, for a value of USD 14.8 billion in order to expand the company's product portfolio for energy harvesting devices.

Key Players in the Report

• ABB
• Linear technology
• Convergence wireless
• Cymbet
• EnOcean
• Fujitsu
• Honeywell

Segments Covered in the Report

By Technology

• Light energy harvesting
• Vibration energy harvesting
• Frequency energy harvesting
• Thermal energy harvesting
• Radio frequency energy harvesting

By Components

• Power Management Integrated Circuits
• Storage system
• Transducers
• Sensors
• Others

By Application

• Industrial Application
• Building and Home Automation
• Consumer Electronics
• Security
• Transportation
• Others

By Vibration Technology

• Piezoelectric
• Electromagnetic
• Electrostatic
• Electrodynamic

By End-Use System

• Wireless switching system
• Wireless HVAC system
• Wireless sensing and telematics system
• Tire pressure monitoring system
• Asset tracking system
• Remote health monitoring system
• Regenerative energy harvesting system

By Energy Source

• Solar Energy
• Thermal Energy
• RF Energy

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