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Jan 11, 2021 (The Expresswire) —
The global energy harvesting system market is projected to gain impetus from the increasing adoption of renewable sources of energy. This information is published in an upcoming report byFortune Business Insights, titled, “Energy Harvesting System“Market Size, Share and Global Trend By Technology (Light Energy Harvesting, Vibration Energy Harvesting, Thermal Energy Harvesting, Radio Frequency Energy Harvesting), By Application (Consumer Electronics, Building and Home Automation, Transportation, Industrial, Others) and Geography Forecast till 2026.” As per the report, a rise in the utilization of the internet of things (IoT) and wireless sensor networking for home automation and control systems would contribute to the energy harvesting system market growth during the forecast period.
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Fortune Business Insights profiles some of the most renowned companies operating in the energy harvesting system market. They are as follows:
- ABB
- EnOcean
- GreenPeak Technologies
- Power Costs, Inc.
- STMicroelectronics
- Cymbet Corporation
- Honeywell
- Microchip Technology Inc.
- GE
- Cypress Semiconductor Corporation
- Linear Technology
- LORD Corporation
- Convergence Inc.
- Texas Instruments
- Mide Technology Corporation
- Fujitsu Global
What Does the Report Contain?
- An elaborate analysis of the energy harvesting system market trends and growth drivers.
- A general overview of the industry structure.
- Estimation of the market size in terms of both volume and value.
- Competitive landscape, such as new product launches, mergers and acquisitions, agreements, and latest contracts.
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Increasing Development Activities by Companies to Dave Energy Will Drive Growth
Harvested energy-powered devices are mainly used in consumer electronics, home and building automation, wearable devices, and industrial applications. Portable power equipment, namely, lead-acid, magnesium-ion, and lithium-ion batteries are more prone to damage and hence, have a very short lifespan. The conventional cabling systems, on the other hand, incur high costs owing to the wiring. The installation process for sensor networking purposes is also very time-consuming. Energy harvesting does not require any external electricity for charging. Therefore, there is no need to externally power the device, either by portable batteries or by cables. It would otherwise save the overall operating cost by reducing the maintenance cost. Numerous companies are at present, striving persistently to improve the energy harvesting technology for saving energy and cutting off the cost. These factors are expected to augment the energy harvesting system market size in various regions.
Rising Adoption of Solar Energy to Favor Growth in Europe
Geographically, the market is fragmented into Latin America, Europe, the Middle East and Africa, North America, and Asia Pacific. Out of these, North America currently holds the largest energy harvesting system market share and it is likely to retain its dominant position throughout the forthcoming years. The U.S. is considered to be one of the leading countries in the region owing to the rising adoption of energy harvesting systems in home appliances and buildings. The country is using renewable sources to generate energy. Also, the automotive and industrial sectors are growing rapidly here.
Furthermore, Europe is set to experience notable growth in the coming years. It is attributable to the increasing utilization of solar energy. In Asia Pacific, the governments of several countries are aiming to decrease the emission of carbon in the atmosphere. At the same time, the rising adoption of consumer electronics would contribute to market growth in this region. Lastly, the Middle East and Latin America are expected to showcase moderate growth on account of the rapid usage of renewable energy sources.
Key Players Focus on Launching Innovative New Products to Gain Competitive Edge
The market consists of big, small, and medium-sized enterprises. They are focusing on introducing new products that are equipped with novel technology. It would support them in achieving the maximum energy harvesting system market share in the coming years. Below are few of the latest industry developments:
- June 2020: Huawei, a multinational technology company based in China, announced that it has blended SoC, its bestselling NB-IoT device with Nowi’s energy harvesting PMIC. It would help the former in enabling IoT applications requiring ultra-low power autonomous operation. It would also eliminate the need for cabling and manual intervention to supply power at places where there is zero power supply or zero maintenance.
- July 2020: Samsung, a multinational conglomerate, headquartered in South Korea, invented smart clothing, an item of clothing that is combined with an electronic device. The company’s patent focuses on keeping smart wear operational and charged. It mentioned that their invention includes a wearable device that will include an energy harvester for generating electricity. It will be able to support medical applications, such as heart rate meter, body temperature meter, and blood pressure meter.
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Increasing use of smart grids and smart metering are likely to help for the better management of power services. Better infrastructural facilities are also expected to encourage growth in the market.
The increased spending on oil and gas across the world is another factor likely to drive the Energy Harvesting System Market. Rising investments in energy efficiency projects backed by governments may also stimulate growth in the market. The penetration of renewable sources is increasing, fueling demand for energy and which is expected to drive the Energy Harvesting System Market.
Key Segmental Overview:
1. By Technology
- Light Energy Harvesting
- Vibration Energy Harvesting
- Thermal Energy Harvesting
- Radio Frequency Energy Harvesting
2.By Application
- Consumer Electronics
- Building and Home Automation
- Transportation
- Industrial
- Others
3. By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East and Africa (South Africa, GCC and Rest of the Middle East and Africa)
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Key Market Driver Increasing adoption of renewable energy sources
Key Market Restraint High upfront cost and lack of technical expertise
Major Table of Content For Energy Harvesting System Market:
- Introduction
- Executive Summary
- Market Dynamics
- Key Insights
- Global Energy Harvesting System Market Analysis, Insights and Forecast,2026
- North America Energy Harvesting System Market Analysis, Insights and Forecast,2026
- Europe Energy Harvesting System Market Analysis, Insights and Forecast,2026
- Asia Pacific Energy Harvesting System Market Analysis, Insights and Forecast,2026
- Middle East and Africa Energy Harvesting System Market Analysis, Insights and Forecast,2026
- Latin America Energy Harvesting System Market Analysis, Insights and Forecast,2026
- Competitive Landscape
- Company Profile
- Conclusion
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
https://www.fortunebusinessinsights.com/industry-reports/energy-harvesting-system-market-101362
(Have a Look at Reports Trending in “Energy and Power“Industry)
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Energy Harvesting System Market: How will the Disruptions Created by Covid19 Affect the market ? Fortune Business Insights
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