The energy
harvesting system market is projected to grow from USD 485 million in 2020
to USD 775 million by 2025; it is expected to grow at a CAGR of 9.8% from 2020
to 2025. Key factors fueling the growth of this market include the growing
demand for safe, power-efficient, and durable systems that require minimum or
no maintenance; extensive implementation of IoT in automation and energy
harvesting technology in building and home automation; increasing trend of
green energy and favorable initiatives by governments; and rising adoption of
wireless sensor networks equipped with energy harvesting system.
Key players in the
energy harvesting system market include companies operating at different stages
of the energy harvesting value chain. These companies are ABB (Switzerland),
Honeywell (US), Mide Technology (US), Linear Technologies (US), Convergence
Wireless (US), Cymbet (US), EnOcean (Germany), Fujitsu (Japan), Microchip
Technology (US), Texas Instruments (US), STMicroelectronics (Switzerland),
Powercast Corporation (US) Bionic Power (US), O-Flex Technology (Germany), and
Voltree Power (US). These companies focus on adopting both organic and
inorganic growth strategies, such as product launches, expansions, agreements,
partnerships, collaborations, mergers, and acquisitions, to strengthen their
position in the market.
Top Players in Energy Harvesting Market:
EnOcean (Germany) is
one of the leading companies in the energy harvesting system market with its
focus on energy harvesting, ultra-low power management, and radio technology.
In the energy harvesting product line, the company offers technologies based on
solar, thermal, electromagnetic, and vibration energy sources. EnOcean provides
self-powered wireless solutions such as transmitters, receivers, and
transceivers for the Internet of Things, primarily for building and home
automation. The company is an originator of the patented energy harvesting
wireless technology marketed under the brands Dolphin and Easyfit.
The core growth
strategy of EnOcean is continuous product developments to gain a competitive
edge over other players in the market. In December 2019, EnOcean launched a new
solar-powered multi-sensor for Bluetooth IoT networks at CES 2020. It delivers
data via Bluetooth and uses the energy harvesting principle to power wireless
switches and sensors by their surrounding environment.
Powercast
Corporation (US) is a key player in the energy harvesting system market,
serving customers across different areas. It offers custom engineering services
for products such as RF harvesting receivers. The company’s product portfolio
includes powercaster transmitters and powerharvester receivers, development
kits, and RFID tags. Owing to this, Powercast Corporation helps its customers
recharge their devices wirelessly, eliminate base charging stations and ports,
enable charging of multiple units simultaneously and increase product life. The
company follows the Restriction of Hazardous Substances (RoHS) Directive while
manufacturing its products.
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Powercast
Corporation has adopted product launches & developments as a key growth
strategy to expand its business and product portfolio. In August 2018,
Powercast Corporation launched the PowerSpot TX91503 wireless transmitter that
employs Bluetooth LE multiprotocol solution for wireless scheduling of power
transmissions and monitoring battery status of charging devices. This
transmitter wirelessly charges wearables and portable devices fitted with RF
energy harvesting chips.
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