According
to the new market research report on the "Energy Harvesting System Market by
Technology (Light, Vibration, RF, Thermal), Component, Application (Building
& Home Automation, Consumer Electronics, Industrial, Transportation,
Security), and Region - Global Forecast to 2023", this market is expected to be valued at
USD 645.8 Million by 2023, growing at a
CAGR of 10.62% between 2017 and 2023.
The
major factors driving the growth of the energy harvesting system market include
the growing demand for safe, power-efficient, and durable systems that require
minimum or no maintenance, extensive implementation of IoT devices in
automation and energy harvesting technology in building and home automation,
and increasing trend for green energy and favorable initiatives by the governments.
Light energy harvesting technology
expected to hold the largest market size by 2023
The
light energy harvesting technology is likely to propel the energy harvesting
system market growth. The light energy harvesting technology has been
extensively adopted because of the wide availability of solar energy source and
availability of advanced research on the technology.
The market for the building and home
automation application to grow at the highest rate during the forecast period
The
energy harvesting system market for the building and home automation
application is likely to grow at the highest rate during the forecast period
owing to the increasing adoption in the Americas and Europe of energy
harvesting devices in building and home automation applications.
Transducers and secondary batteries to
hold a larger share of the energy harvesting system market by 2023
Transducers
and secondary batteries are expected to contribute significantly in energy
harvesting system market owing to the increasing adoption of transducer devices
such as photovoltaic cells and piezoelectric devices to generate energy for
low-power devices. The devices are largely used in building and home automation
applications to power devices such as occupancy sensors, smoke detectors,
heaters, lighting control devices, switches, and gateways.
The energy harvesting system market in
the Americas to grow at the highest rate
The
market in the Americas is expected to grow at the highest CAGR during the
forecast period. The high growth can be attributed to the increasing
penetration of building automation in the Americas is increasing in new
construction projects that are accepting renewable energy as the power source
for low-power electronic devices.
The
report also profiles the most promising players in this market. The competitive
landscape of the market presents an interesting picture where a large number of
players have become a force to reckon with. The key players in this market are
EnOcean GmbH (Germany), Mide Technology Corporation (US), Lord Microstrain
(US); secondary battery and capacitor providers such as Cymbet Corporation
(US), Linear Technologies (US), Murata Manufacturing Co. Ltd., (Japan), and
Infinite Power Solution Inc. (US); power management IC manufacturers such as
Linear Technologies (US), Cypress Semiconductor Corp. (US), STMicroelectronics
(Switzerland), Texas Instruments (US), and Fujitsu (Japan).
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