GLOBAL ENERGY HARVESTING MARKET FORECAST 2017-2024

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Nov 07, 2017, 15:20 ET

LONDON, Nov. 7, 2017 /PRNewswire/ -- KEY FINDINGS
The energy harvesting global market is anticipated to rise from $ 1276 million in 2016 to $ 6255 million by 2024. The market is expected to grow at a CAGR of 22.21% between 2017 and 2024. The base year considered for the market study is 2016 and the forecast period is between 2017 and 2024. The pervasive application of IOT like consumer electronics, growing demand for energy saving, building automation and reducing the energy losses leads to high demand for the energy harvesting devices.

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MARKET INSIGHTS
The global energy harvesting market is segmented on the basis of source, system, application, and geography. The global energy harvesting market by the source is classified into a light energy source, mechanical energy source, electromagnetic/ radio frequency energy source, thermal energy and others.

The system segmented is further divided into electrodynamics, photovoltaic, piezoelectric, radio frequency transducers, and electromagnetic transducers. The application segment in global energy harvesting is further bifurcated into the building and home automation, consumer electronics, industrial, transportation and security and defense. Rising Demand for the Smart Meters, Initiatives taken by the government for Energy Saving, Selected Renewable Energy Global Indicators, and Demand for Sustainable Power, Rising Implementation of IoT Sensors, and Increase in the Green Environment Initiatives by the Governments, and Low Dependence on Fossil Fuels are the major drivers for the Energy Harvesting Market.

REGIONAL INSIGHTS
Europe had the colossal market share in terms of revenue (40.6%) in 2016 and is estimated to hold the largest market share by 2024. Both Europe and North America are major markets for Energy Harvesting technologies, with multimillion dollar investment projects towards renewable and sustainable energy developments in the pipeline. Asia Pacific is evolving with highest CAGR 23.7% for the forecasted period 2017-2024. Positive outlook towards economy, changing FDI policies towards energy sector, growing energy demand and efficiency are some of the driving factors for Asia Pacific Energy Harvesting market. India, China, Singapore, Australia, Japan, and Korea are the country's leading Energy Harvesting market in APAC. Africa and MENA are lucrative investment destinations for ROW Energy Harvesting market for the forecasted period, with countries like South Africa, Saudi Arabia, and UAE leading the market growth.

COMPETITIVE INSIGHTS
Major players for the Energy Harvesting market are ABB limited, Arveni, Convergence wireless, Cymbet corporation, EnOceangmbh, Fujitsu limited, Green teg, g24 innovations limited (acquired by g24i power Ltd), mouser electronics, Inc., Honeywell internationals Inc., microchip technology, laird technology (Nextreme thermal solutions), Schneider electric, Siemens ag, STMicroelectronics n.v., Texas instrument incorporated.

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