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
“The overall energy harvesting system market is expected to grow at a CAGR of 10.62% between 2017 and 2023”
The overall energy harvesting system 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 growing demand for safe, power-efficient, and durable systems that require minimum or no maintenance and extensive implementation of IoT devices in automation and energy harvesting technology in building and home automation are expected to generate a higher demand for energy harvesting systems. The key restraining factors for the growth of the energy harvesting system market are limitations of remotely installed networking modules and higher initial cost associated with energy harvesting systems curtails the market growth in developing countries.
“The building and home automation application to hold the largest share of the energy harvesting system market during the forecast period”
The energy harvesting system market for the building and home automation application is expected to account for the largest market share by 2023 as a result of increasing adoption of wireless sensor network enabled with energy harvesting system in the building and home automation application.
“Light energy harvesting technology is expected to grow at the highest rate during the forecast period”
The energy harvesting system market for light energy harvesting technology is expected to grow at the highest rate during the forecast period. The growth of the market in this segment is attributed to the increasing number of companies involved in the production of solar products for building automation, consumer electronics, and security applications. There are several companies providing solar energy-based solutions for the building automation and consumer electronics applications.
“The Americas to hold the largest share and is expected to witness the highest growth in the energy harvesting system market”
The Americas is expected to hold the largest share of the energy harvesting system market during the forecast period. This region is the abode of many energy harvesting system manufacturing companies. The energy harvesting system market in the Americas is expected to grow at a high rate during the forecast period. The high growth of the market in this region can be attributed to the increasing implementation of energy harvesting devices for different applications in the US and Canada.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people in the energy harvesting system market. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 – 20 %, Tier 2 – 55%, and Tier 3 – 25%
• By Designation: C-Level Executives – 50%, Directors – 25%, and Managers – 25%
• By Region: North America – 60%, Europe – 20%, APAC – 10%, and RoW – 10%
The report also profiles the key players in this market. The prominent players profiled in this report are ABB Limited (Switzerland), Arveni (France), Convergence Wireless (US), Cymbet Corporation (US), EnOcean GmbH (Germany), Fujitsu Limited (Japan), Honeywell International Inc. (US), Microchip Technology Inc. (US), STMicroelectronics (Switzerland), and Texas Instrument Incorporated (US).
This research report categorizes the overall energy harvesting system market based on technology, component, application, and region. The report describes major drivers, restraints, challenges, and opportunities pertaining to the market as well as provides value chain analysis.
Reasons to Buy the Report:
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the energy harvesting system market comprehensively and provides the closest market size estimation for subsegments across different regions.
2. The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes the information on the competitors’ ecosystem, product launches, acquisitions, partnerships, agreements, contracts, and collaborations.
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