Energy Harvesting Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Energy Harvesting Systems Market Analysis

The Global Energy Harvesting Systems Market will register a CAGR of 9.8% over the forecast period. Energy harvesting, also known as power harvesting or energy scavenging, is the process by which energy is derived from external sources. Ambient energy, the energy source for energy harvesting systems, is present as ambient background and is freely available.

• The widespread use of IoT devices in automation, the expansion of urban areas, the rising demand for reliable, safe, and long-lasting systems, the increasing popularity of green energy, the widespread adoption of energy harvesting technology in building and home automation, and supportive government policies are all anticipated to contribute to the market's expansion during the forecast period.
• Energy harvesting systems are primarily used in low-power electrical utilities, such as sensors, watches, and home appliances. These systems provide an efficient alternative to conventional power sources, like batteries.
• Moreover, supportive government policies and increased awareness about the environment, along with the reduction in the emission of greenhouse gases, have helped raise the demand for such technologies.
• Using energy harvesting systems is advantageous since the connected devices can run for a very long time without causing adverse environmental effects. Additionally, the solar, thermal, and vibrational energy forms of energy are those that energy harvesting systems use the most frequently among the various sources of ambient energy, including light energy, thermal energy, radiofrequency energy, kinetic energy, chemical/biological energy, and others.
• The energy harvesting systems are also deployed in applications that require a backup battery, and primarily battery is located remotely at a difficult place to reach. The transmitters and receivers used in the energy harvesting systems should be installed close to each other for better signal transmission. Collecting data at the central receiver is difficult when these sensors are deployed in remote locations.
• Owing to the outbreak of the COVID-19 pandemic, the Chinese solar industry and its economy are reeling under the impact. The exports are yet to be gauged fully. Such delay would restrict the growth of the energy harvesting systems.

Energy Harvesting Systems Industry Segments

Energy harvesting, also known as power harvesting or energy scavenging, is the process by which energy is derived from external sources. Ambient energy, the energy source for energy harvesting systems, is present as ambient background and is freely available.

The Global Energy Harvesting Systems Market is segmented by Technology (Light Energy Harvesting, Vibration Energy Harvesting, Thermal Energy Harvesting, and RF Energy Harvesting), Application (Consumer Electronics, Building, and Home Automation, Industrial, Transportation), and Geography.

The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Report scope can be customized per your requirements. Click here.

Energy Harvesting Systems Market Trends

This section covers the major market trends shaping the Energy Harvesting Systems Market according to our research experts:

Consumer Electronics to Hold Significant Market Share

• Energy harvesting systems are increasingly used in consumer electronics, such as wearables, smartphones, remote control units, wireless appliances, body implants, etc.
• Moreover, Energy harvesting systems allow consumer electronic products to operate where conventional power sources are unavailable. Such features extend the use and eliminate the geographical constraint for devices to always be near a power source. Such features are driving the use of energy harvesting systems in consumer electro.
• For instance, energy harvesting systems are used in remote control units, where power is harvested from the force applied by the user in pressing the button. Recently, ARM has built such a device with the low power of the ARM Cortex-M0+ processor.
• The energy captured may be used in most wireless applications, body implants, wearables, and other low-power consumption applications. Even if the harvested energy is not enough to power the entire device, it may still be used to extend the life of conventional batteries.
• For example, researchers from the Chinese University of Hong Kong have developed a device that may harvest energy from the human knee during walking without a substantial increase in effort for wearers. The demonstrated device generates up to 1.6 mW of power without significantly changing breathing patterns.
• The proliferation of connected devices and the need for less expensive and reliable energy sources drive the growth of energy harvesting systems in the consumer electronics industry.

To understand key trends, Download Sample Report