Energy Harvesting System Market Worth 974.4 Million USD by 2022
PUNE, India, April 20, 2016 /PRNewswire/ --
According to the new market research report "Energy Harvesting System Market by Technology (Light, Vibration, Electromagnetic, Thermal), Application (Building & Home Automation, Consumer Electronics, Industrial, Transportation, Security), and Geography - Global Forecast to 2022", published by MarketsandMarkets, the market is estimated to reach USD 974.4 Million by 2022, at a CAGR of 19.6% between 2016 and 2022.
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Browse 71 market data Tables and 83 Figures spread through 179 Pages and in-depth TOC on "Energy Harvesting System Market".
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The factors driving the energy harvesting system market include the demand for safe and durable power source, extensive implementation of internet of thing (IoT) for building automation, and increasing number of green environment initiatives by the governments of several countries.
Building and home automation application expected to lead the global energy harvesting system market:
The building and home automation application is among the early adopters of energy harvesting systems for powering wireless sensor network (WSN) in buildings and to control the home electronics automatically or remotely. The application of energy harvesting system is growing in building automation for controlling lighting systems, safety systems, and indoor environment control systems. The market for the industrial application of the energy harvesting system is expected to witness significant growth during the forecast period. The industrial wireless sensor networking market is expected to grow at a high rate in developed countries after the building and home automation application, which has provided an opportunity for the growth of the energy harvesting system market. The companies in the energy harvesting ecosystem target the industrial sector for applications in WSN such as temperature sensor, pressure sensor, flow sensor, level sensor, occupancy sensor, and climate sensor.
Light energy harvesting dominates the global energy harvesting system market:
Light energy harvesting held a large share of the energy harvesting system market in 2015. It uses solar energy, UV light, IR light, or indoor light to generate electricity and provide power to low-power electronics devices or for storage in batteries. The abundance of solar energy enables companies to research more on solar-powered products with higher power efficiency.
The Americas expected to hold the largest market share and witness highest growth during the forecast period:
The energy harvesting system market in the Americas is expected to hold the largest share of the global market by 2022 owing to the major driving forces such as growing applications in building & home automation, industrial wireless sensor networking, need for green energy source, government initiatives, and demand for safe and durable power sources globally. The U.K. and Germany are expected to be the emerging markets following the U.S. and Canada. The energy harvesting system market is expected to have numerous opportunities in these countries.
This report describes the drivers, restraints, opportunities, and challenges with respect to the energy harvesting system market. The Porter's five forces analysis has been included in the report with a description of each of the forces and their respective impact on the energy harvesting system market. In this report, the energy harvesting system market is segmented on the basis of technology, application, and geography. The technology segment includes light energy harvesting, vibration energy harvesting, thermal energy harvesting and electromagnetic/radio frequency energy harvesting. The applications include building & home automation, industrial, consumer electronics, transportation, and security. The market is segmented on the basis of geography into the Americas, Europe, APAC, and Rest of the World.
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Major players for energy harvesting system are Laird Plc. (U.K.), Mide Technology Corporation (U.S.), Lord Microstrain (U.S.), EnOcean GmbH (Germany), IXYS Corporation (U.S.), Linear Technologies (U.S.), Cypress Semiconductor Corp. (U.S.), STMicroelectronics (Switzerland), Texas Instruments (U.S.), Fujitsu (Japan), Murata Manufacturing Co., Ltd. (Japan), and Cymbet Corporation (U.S.).
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