Global Energy Harvesting System Market Size by Component (Transducers, Power Management IC (PMIC), and Storage Unit), Technology (Light Energy Harvesting, Vibration Energy Harvesting, Radio Frequency (RF) Energy Harvesting, Thermal Energy Harvesting, and Others), Application (Consumer Electronics, Building, and Home Automation, Transportation, Healthcare, and Others), Regions, Segmentation, and Projection till 2028
CAGR: 7.7%Current Market Size: USD 523.6 MillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2021-2028Base Year: 2020
Global Energy Harvesting System Market- Market Overview
The global energy harvesting system market is expected to grow from USD 523.6 Million in 2020 to USD 937.9 Million by 2028, at a CAGR of 7.7% during the Projection period 2021-2028.This growth of the energy harvesting system market is significantly driven by supportive government policies along with growing environmental awareness.
Energy harvesting/energy scavenging/power harvesting is the process in which energy is captured from an environment of the system and then converted into usable electric power. This system mainly comprises circuitry to charge an energy storage cell, and manage the power, offering protection and regulation. It converts ambient energy, such as wind, solar, thermal, vibration, and radiofrequency, into electrical energy. The energy source examples comprise light captured by photovoltaic cells, radio energy captured by an antenna; temperature differentials captured by a thermo-electric generator, and biochemically produced energy.
In addition, it eliminates the need for conventional power sources, such as power cables and batteries, thus reducing general cost and can easily power remotely located wearable electronics, electronic devices, and sensor networks.
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Market Dynamics
Drivers:
- Lucrative benefits in the energy harvesting system
Different techniques of energy harvesting systems offer different benefits to the user. For instance, solar systems are simple, cheap, and efficient while mechanical systems are environmentally enclosed, reliable, and protected with higher energy output. On the other hand, thermal systems have a long lifespan and no moving parts. Such benefits by various energy harvesting techniques drive the growth of the market.
- Supportive government policies along with the growing environmental awareness
The number of energy efficiency policies and programs enables the implementation of projects to reduce energy use. These policies comprise building energy codes, appliance standards, commissioning & retro-commissioning, and financial incentives and programs. These regulations or policies are introduced due to growing environmental awareness. This factor also creates demand for energy harvesting systems.
Restraints:
- Higher initial cost pertaining to the energy harvesting systems
The rising cost of energy and the impacts of global warming in the past few years have pushed the demand for enhancing efficiency in energy usage and generation. This has led to the emergence of energy harvesting systems. However, the manufacturing of energy harvesting systems needs high upfront cost. This factor primarily hampers the growth of the market.
Opportunities:
- Implementation of IoT devices in energy harvesting systems and automation
There is a significant rise in IoT devices. However, such devices are powered by batteries. However, the lifetime of batteries is limited, the need for self-powered devices along with alternative sources of energy is growing rapidly to continuously power IoT devices. Hence, the implementation of IoT devices in energy harvesting systems and automation drives the growth of the global energy harvesting system market.
Challenges:
- Disruptions due to COVID-19
Owing to the unprecedented crisis of COVID-19, a number of countries have employed nationwide lockdowns. However, as they are reopening, safety measures such as social distancing are still being applied. This has caused significant economic downturns across the globe. Due to a slowdown in industrial activities, the manufacturing of energy harvesting systems has been hampered. Hence, the emergence of the COVID-19 pandemic has posed challenges to the global energy harvesting system market.
Segmentation Analysis
The global energy harvesting system market has been segmented based on components, technology, application, and regions.
By Component
- The Technology segment includes Transducers, Power Management IC (PMIC), and Storage units. The transducers segment led the energy harvesting system market with a market share of around 39% in 2020. The growth of this segment is mainly attributed to growth in the usage of electromechanical transducers to harvest vibration energy. However, the Storage Unit segment is expected to witness the highest growth rate during the Projection period.
By Technology
- The Technology segment includes Light Energy Harvesting, Vibration Energy Harvesting, Radio Frequency (RF) Energy Harvesting, Thermal Energy Harvesting, and Others. The light energy harvesting segment led the energy harvesting system market with a market share of around 29.8% in 2020. Solar energy-based products are considered under the light energy harvesting sector. The growth of this segment is mainly attributed to an upsurge in the manufacturing of solar-based products coupled with the rising efficiency of photovoltaic cells. In addition to this, a number of leading players are engaged in the production of solar energy-based products, fueling the market size.
By Application
- The application segment includes consumer electronics, building, and home automation, transportation, healthcare, and others. The building & home automation segment held the largest market share of 34.50% in 2020. The growth of this segment is mainly driven by emerging demand for energy harvesting systems in building & home automation as it offers flexibility for distribution as there is no requirement for hardwiring. In addition to this, the implementation of energy harvesting switches minimizes maintenance and environmental impact. Such factors boost the growth of the segment.
By Regional Analysis
The regions analyzed for the energy harvesting system market include North America, Europe, South America, Asia Pacific, and the Middle East, and Africa. The North American region dominated the energy harvesting system market and held the 32.30% share of the market revenue in 2020.
- The growth of the North American energy harvesting system market is mainly driven by a number of factors such as rapid technological developments in the field of energy harvesting and huge building & home automation investments, which use renewable energy. In addition, according to the Solar Energy Industries Association (SEIA), the solar projects in the U.S. accounted for about 40% of all new electric generating capacity in 2019.
- The Asia-Pacific region is likely to register significant growth during the Projection period due to the fact that the region accounted for more than 50% of the worldwide energy consumption. This is mainly attributed to increasing in industrialization and population. Moreover, renewable energy has seen considerable demand across India and China, fueling the growth of the market.
Key Industry Players Analysis
Key players are indulged in implementing new strategies to improve their position in the market
The key players are indulged in implementing strategies such as product innovations, adopting new technology, mergers & acquisitions, alliances, joint venture, and partnerships to improve their market position in the global energy harvesting system industry.
For instance, in October 2020, one of the most anticipated companies in the IoT Industry named Xidas IoT has created VP3 which is a vibration-based energy harvesting product and a cost-effective solution for dealing with battery life, the IoT market’s major issue.
In February 2019, a semiconductor device design and manufacturing company named Advanced Linear Devices Inc. (ALD) launched its six-channel supercapacitor automatic balancing (SAB) PCB. This product can balance any size of the supercapacitor with zero added power dissipation.
- Cymbet Corporation
- Tekceleo
- Cedrat Technologies SA
- Physik Instrumente (PI) GmbH & Co. KG
- ZF Friedrichshafen AG
- Advanced Linear Devices Inc.
- Powercast
- Xidas
- Mide Technology Corporation
- Analog Devices
Latest Development
- March 2021- Schneider Electric partnered with ZF Friedrichshafen AG for the introduction of a new level of smart industrial switches. Schneider Electric has introduced new industrial Harmony ZBRT wireless and battery-less interface with the help of the compact generator from ZF.
- February 2021- Xidas launched the plug & play, universal energy harvesting, and power management module for IoT Devices. This launch has expanded the energy harvesting portfolio of Xidas.
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Report Metrics
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Report Attribute |
Details |
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Projection period |
2021-2028 |
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Base year considered |
2020 |
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CAGR (%) |
7.7% |
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Market Size |
937.9 million in 2028 |
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Projection unit |
Value (USD) |
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Segments covered |
Component, Technology, Application, and Region |
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Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
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Companies covered |
Cymbet Corporation, Tekceleo, Cedrat Technologies SA, Physik Instrumente (PI) GmbH & Co. KG, ZF Friedrichshafen AG, Advanced Linear Devices Inc., Powercast, Xidas,Mide Technology Corporation, and Analog Devices among others |
|
By Component |
|
|
By Technology |
|
|
By Application |
|
|
Regional scope |
|
Scope of the Report
Global Energy harvesting system Market by Component:
- Transducers
- Power Management IC (PMIC)
- Storage Unit
Global Energy harvesting system Market by Technology:
- Light Energy Harvesting
- Vibration Energy Harvesting
- Radio Frequency (RF) Energy Harvesting
- Thermal Energy Harvesting
- Others
Global Energy harvesting system Market by Application:
- Consumer Electronics
- Building and Home Automation
- Transportation
- Healthcare
- Others
Global Energy harvesting system Market by Region:
- North America
- USA
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Asia-Pacific
- Japan
- China
- India
- Korea
- Southeast Asia
- South America
- Brazil
- Peru
- Middle East and Africa
- UAE
- South Africa
- Saudi Arabia
Frequently Asked Questions
What is the market size of the Energy Harvesting System Market?
Global Energy Harvesting System market is expected to reach USD 937.9 million by 2028, at a CAGR of 7.7% from 2021 to 2028.
Which regions have been studied for the regional analysis of the Energy Harvesting System market?
The regions analyzed for the Energy Harvesting System market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa.
What is the segmentation considered for the analysis of the Energy Harvesting System market?
The global Energy Harvesting System market has been segmented based on type, application, and regions
Which are the leading market players active in the Energy Harvesting System market?
leading market players active in the global Energy Harvesting System market are Cymbet Corporation, Tekceleo, Cedrat Technologies SA, Physik Instrumente (PI) GmbH & Co. KG, ZF Friedrichshafen AG, Advanced Linear Devices Inc., Powercast, Xidas, Mide Technology Corporation, and Analog Devices among others.
What is the key driver of the Energy Harvesting System market?
Rising consumer demand and awareness about bio-based products primarily drive the growth of the energy harvesting system market.
What are the detailed impacts of the COVID-19 pandemic on the global market?
The pandemic has significantly affected several industries and has caused a worldwide economic slowdown and temporarily suspended manufacturing activities and production shutdowns. Due to a slowdown in industrial activities, the manufacturing of energy harvesting systems has been hampered.
What are the ongoing trends that are projected to influence the market in the upcoming years?
Supportive government policies along with the growing environmental awareness. In addition, supportive government policies along with the growing environmental awareness.
How the company profile has been selected?
Based on the sales revenue, product offering, and regional presence, the companies are selected.
Political- Schneider Electric partnered with ZF Friedrichshafen AG for the introduction of a new level of smart industrial switches. Schneider Electric has introduced new industrial Harmony ZBRT wireless and battery-less interface with the help of the compact generator from ZF. Along with this Xidas launched the plug & play, universal energy harvesting, and power management module for IoT Devices. This launch has expanded the energy harvesting portfolio of Xidas.
Economic- The rising cost of energy and the impacts of global warming in the past few years have pushed the demand for enhancing efficiency in energy usage and generation. This has led to the emergence of energy harvesting systems. However, the manufacturing of energy harvesting systems needs high upfront cost. This factor primarily hampers the growth of the market. But these days the government has increased the investment in several sectors to support renewable energy manufacture.
Social- The growth of the North American energy harvesting system market is mainly driven by a number of factors such as rapid technological developments in the field of energy harvesting and huge building & home automation investments, which use renewable energy. In addition, according to the Solar Energy Industries Association (SEIA), the solar projects in the U.S. accounted for about 40% of all new electric generating capacity in 2019. The Asia-Pacific region is likely to register significant growth as well. This is mainly attributed to increasing in industrialization and population. Moreover, renewable energy has seen considerable demand across India and China, fueling the growth of the market.
Environmental- Different techniques of energy harvesting systems offer different benefits to the user. For instance, solar systems are simple, cheap, and efficient while mechanical systems are environmentally enclosed, reliable, and protected with higher energy output. On the other hand, thermal systems have a long lifespan and no moving parts. Such benefits by various energy harvesting techniques drive the growth of the market. In addition to this, the implementation of energy harvesting switches minimizes maintenance and environmental impact. Such factors boost the growth of the segment.
Technological- The Technology segment includes Light Energy Harvesting, Vibration Energy Harvesting, Radio Frequency (RF) Energy Harvesting, Thermal Energy Harvesting, and Others. Solar energy-based products are considered under the light energy harvesting sector. The growth of this segment is mainly attributed to an upsurge in the manufacturing of solar-based products coupled with the rising efficiency of photovoltaic cells. In addition to this, a number of leading players are engaged in the production of solar energy-based products, fueling the market size.
Legal- The number of energy efficiency policies and programs enables the implementation of projects to reduce energy use. These policies comprise building energy codes, appliance standards, commissioning & retro-commissioning, and financial incentives and programs. These regulations or policies are introduced due to growing environmental awareness. This factor also creates demand for energy harvesting systems.
- Introduction
- Objectives of the Study
- Market Definition
- Research Scope
- Research Methodology and Assumptions
- Executive Summary
- Premium Insights
- Porter’s Five Forces Analysis
- Value Chain Analysis
- Top Investment Pockets
- Market Attractiveness Analysis By Component
- Market Attractiveness Analysis By Technology
- Market Attractiveness Analysis By Application
- Industry Trends
- Market Dynamics
- Market Evaluation
- Drivers
- Lucrative benefits in the energy harvesting system
- Supportive government policies along with the growing environmental awareness
- Restrains
- Higher initial cost pertaining to the energy harvesting systems
- Opportunities
- Implementation of IoT devices in energy harvesting systems and automation
- Challenges
- Disruptions due to COVID-19
- Global Energy Harvesting System Market Analysis and Projection, By Component
- Segment Overview
- Transducers
- Power Management IC (PMIC)
- Storage Unit
- Global Energy Harvesting System Market Analysis and Projection, By Technology
- Segment Overview
- Light Energy Harvesting
- Vibration Energy Harvesting
- Radio Frequency (RF) Energy Harvesting
- Thermal Energy Harvesting
- Others
- Global Energy Harvesting System Market Analysis and Projection, By Application
- Segment Overview
- Consumer Electronics
- Building and Home Automation
- Transportation
- Healthcare
- Others
- Global Energy Harvesting System Market Analysis and Projection, By Regional Analysis
- Segment Overview
- North America
- USA
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Asia-Pacific
- Japan
- China
- India
- South America
- Brazil
- Middle East and Africa
- UAE
- South Africa
- Global Energy Harvesting System Market-Competitive Landscape
- Overview
- Market Share of Key Players in the Energy Harvesting System Market
- Global Company Market Share
- North America Company Market Share
- Europe Company Market Share
- APAC Company Market Share
- Competitive Situations and Trends
- Component Launches and Developments
- Partnerships, Collaborations, and Agreements
- Mergers & Acquisitions
- Expansions
- Company Profiles
- Cymbet Corporation
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Component Portfolio
- Recent Developments
- SWOT Analysis
- Tekceleo
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Component Portfolio
- Recent Developments
- SWOT Analysis
- Cedrat Technologies SA
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Component Portfolio
- Recent Developments
- SWOT Analysis
- Physik Instrumente (PI) GmbH & Co. KG
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Component Portfolio
- Recent Developments
- SWOT Analysis
- ZF Friedrichshafen AG
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Component Portfolio
- Recent Developments
- SWOT Analysis
- Advanced Linear Devices Inc.
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Component Portfolio
- Recent Developments
- SWOT Analysis
- Powercast
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Component Portfolio
- Recent Developments
- SWOT Analysis
- Xidas
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Component Portfolio
- Recent Developments
- SWOT Analysis
- Mide Technology Corporation
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Component Portfolio
- Recent Developments
- SWOT Analysis
- Analog Devices
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Component Portfolio
- Recent Developments
- SWOT Analysis
- Cymbet Corporation
List of Table
- Global Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- Global Transducers Market, By Region, 2020–2028(USD Million)
- Global Power Management IC (PMIC) Market, By Region, 2020–2028(USD Million)
- Global Storage Units Market, By Region, 2020–2028(USD Million)
- Global Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- Global Light Energy Harvesting Energy Harvesting System Market, By Region, 2020–2028(USD Million)
- Global Vibration Energy Harvesting Energy Harvesting System Market, By Region, 2020–2028(USD Million)
- Global Radio Frequency (RF) Energy Harvesting Energy Harvesting System Market, By Region, 2020–2028(USD Million)
- Global Thermal Energy Harvesting Energy Harvesting System Market, By Region, 2020–2028(USD Million)
- Global Others Energy Harvesting System Market, By Region, 2020–2028(USD Million)
- Global Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- Global Consumer Electronics Energy Harvesting System Market, By Region, 2020–2028(USD Million)
- Global Building and Home Automation Energy Harvesting System Market, By Region, 2020–2028(USD Million)
- Global Transportation Energy Harvesting System Market, By Region, 2020–2028(USD Million)
- Global Healthcare Energy Harvesting System Market, By Region, 2020–2028(USD Million)
- Global Others Energy Harvesting System Market, By Region, 2020–2028(USD Million)
- Global Energy Harvesting System Market, By Region, 2020–2028(USD Million)
- Global Energy Harvesting System Market, By North America, 2020–2028(USD Million)
- North America Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- North America Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- North America Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- S. Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- S. Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- S. Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- Canada Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- Canada Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- Canada Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- Mexico Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- Mexico Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- Mexico Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- Europe Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- Europe Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- Europe Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- Germany Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- Germany Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- Germany Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- France Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- France Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- France Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- K. Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- K. Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- K. Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- Italy Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- Italy Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- Italy Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- Spain Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- Spain Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- Spain Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- Asia Pacific Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- Asia Pacific Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- Asia Pacific Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- Japan Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- Japan Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- Japan Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- China Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- China Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- China Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- India Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- India Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- India Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- South America Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- South America Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- South America Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- Brazil Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- Brazil Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- Brazil Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- Middle East and Africa Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- Middle East and Africa Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- Middle East and Africa Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- UAE Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- UAE Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- UAE Energy Harvesting System Market, By Application, 2020–2028(USD Million)
- South Africa Energy Harvesting System Market, By Component, 2020–2028(USD Million)
- South Africa Energy Harvesting System Market, By Technology, 2020–2028(USD Million)
- South Africa Energy Harvesting System Market, By Application, 2020–2028(USD Million)
List of Figures
- Global Energy Harvesting System Market Segmentation
- Energy Harvesting System Market: Research Methodology
- Market Size Estimation Methodology: Bottom-Up Approach
- Market Size Estimation Methodology: Top-Down Approach
- Data Triangulation
- Porter’s Five Forces Analysis
- Value Chain Analysis
- Global Energy Harvesting System Market Attractiveness Analysis By Component
- Global Energy Harvesting System Market Attractiveness Analysis By Technology
- Global Energy Harvesting System Market Attractiveness Analysis By Application
- Global Energy Harvesting System Market Attractiveness Analysis By Region
- Global Energy Harvesting System Market: Dynamics
- Global Energy Harvesting System Market Share By Component(2021 & 2028)
- Global Energy Harvesting System Market Share By Technology(2021 & 2028)
- Global Energy Harvesting System Market Share By Application(2021 & 2028)
- Global Energy Harvesting System Market Share by Regions (2021 & 2028)
- Global Energy Harvesting System Market Share by Company (2020)
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