NEW YORK, May 9, 2016 /PRNewswire/ -- "The energy harvesting system market is expected to grow at a CAGR of 19.6% during the forecast period between 2016 and 2022."
The market is expected to grow from USD 268.6 million in 2015 to USD 974.4 million by 2022, at a CAGR of 19.6% between 2016 and 2022. The demand for safe & durable power source, increasing implementation of Internet of Things (IoT) for building automation, and increasing number of green environment initiatives by the government are the major contributors for the market growth.
"Building & home automation expected to hold the largest market share during the forecast period"
The market is segmented on the basis of application into building & home automation, consumer electronics, industrial, transportation, and security. The energy harvesting market in the building & home automation application is expected to hold the leading position by 2022 owing to the increasing adoption of smart homes in countries such as the U.S., Canada, the U.K., Germany, and Japan. Some of the uses of energy harvesting in building & home automation are in lighting systems, switches, thermal sensors, occupancy sensors, switch keys, safety & security systems, and climate control sensors. The industrial wireless sensor networking application of energy harvesting holds the second-largest market share. The growth of the industrial application is prominent in North America and Europe.
"The Americas expected to hold the largest market share during the forecast period"
The geographic segmentation categorizes the main regions of the world into The Americas, Europe, Asia-Pacific (APAC), and RoW. The Americas region is expected to hold the leading position by 2022 owing to the growing building automation and smart home market in countries such as the U.S. and Canada. North America is the major contributor to energy harvesting for the building & home automation and industrial applications. After North America, Europe has second-highest rate of installation of energy harvesting systems in new constructions and for industrial automation. In Europe, the U.K. and Germany have the largest number of manufacturing industries heavily installing the wireless sensor networking powered by energy harvesting system as a part of industrial automation and control system.
Breakdown of profile of primary participants:
- By Company Type - Tier 1: 45%, Tier 2: 25%, and Tier 3: 30%
- By Designation - C-level: 40%, Managers: 35%, Others: 25%
- By Region – The Americas: 50%, Europe: 30%, APAC: 20%
The report includes the competitive landscape of global energy harvesting system market as well as the company profiles of ABB Limited (Switzerland), Arveni (France), Convergence Wireless (U.S.), Cymbet Corporation (U.S.), EnOcean GmbH (Germany), Fujitsu Limited (Japan), GreenPeak Technologies B.V. (Netherlands), Honeywell International Inc. (U.S.), Microchip Technology Inc. (U.S.), STMicroelectronics N.V. (Switzerland), and Texas Instrument Incorporated (U.S.).
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