The energy harvesting system market is estimated to be worth USD 468 million in 2021 and is projected to reach USD 701 million by 2026, at a CAGR of 8.4 %. The growing demand for safe, power-efficient, and durable systems that require minimum or no maintenance, surging implementation of IoT devices in automation and energy harvesting systems for building and home automation, increasing trend for green energy and favorable initiatives by governments, rising adoption of wireless sensor networks equipped with energy harvesting systems are some of the prominent factors for the growth of the energy harvesting system market globally.
Who are the winners in the global energy
harvesting system market?
Companies
such as ABB (Switzerland), Linear Technology (US), Convergence Wireless (US),
Cymbet (US) and EnOcean (Germany)
What is the COVID-19 impact on energy
harvesting system providers?
The COVID-19
pandemic has resulted in a decline in market size from 2019 to 2020. The
post-COVID-19 recovery is expected to slow as compared to pre-COVID-19 recovery
estimates. Shortages in semiconductor chip delivery and lack of spending by the
end-users are the key factors suppressing the post-pandemic growth.
Opportunity: Adoption of sensors in wearable
electronics
The
applications of energy harvesting systems in small consumer electronics are
being looked upon as a good opportunity for investment. Wearable watches are
one of the opportunities for sensors to be used in applications such as
activity monitoring and healthcare. For example, STMicroelectronics’
accelerometer sensors are used in the Pebble smartwatch. The scientists led by
YaYang at the Beijing Institute of Nanoenergy and Nanosystems in China and
ZhongL in Wang at the Georgia Institute of Technology in the US have developed
a hybridized nanogenerator to power a wristwatch and other wearable electronic
devices. Sensors require a long-lasting power supply for delivering efficient
output. Hence, the adoption of energy harvesting systems in wearable
electronics for sensors is increasing.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=734
Challenge:
Standardization of communication protocols
In the
energy harvesting system ecosystem, the standardization of communication
protocols helps companies develop devices with less analytical effort. In
wireless electronics, the communication protocol is the crucial factor that
connects devices. The standardized protocol is important for both components and
the complete system. Various companies follow their compliance for
communication; for example, devices from EnOcean follow the ISO/IEC 14543-3-1X
international standard, and devices from Linear Technology follow the EC6158,
EDDL (IEC61804-3) and IEEE802.15.4 standards.
The difference in communication protocols mainly hinders the growth of
companies working in isolation, such as Linear Technology (US) or hinders the
growth of the new entrants in the market.
About
MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B
research on 30,000 high growth niche opportunities/threats which will impact
70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers
worldwide including 80% of global Fortune 1000 companies as clients. Almost
75,000 top officers across eight industries worldwide approach
MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at
MarketsandMarkets™ are tracking global high growth markets following the
“Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with
the clients to identify new opportunities, identify most important customers,
write “Attack, avoid and defend” strategies, identify sources of incremental
revenues for both the company and its competitors. MarketsandMarkets™ now
coming up with 1,500 MicroQuadrants (Positioning top players across leaders,
emerging companies, innovators, strategic players) annually in high growth
emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000
companies this year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research ahead of
the curve.
MarketsandMarkets’s flagship competitive
intelligence and market research platform, “Knowledgestore” connects over
200,000 markets and entire value chains for deeper understanding of the unmet
insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™
INC.
630
Dundee Road
Suite
430
Northbrook,
IL 60062
USA:
1-888-600-6441
No comments:
Post a Comment