Energy Harvesting System Market Size was valued at USD 0.5 Billion in 2022. The Energy Harvesting System market industry is projected to grow from USD 0.31 Billion in 2023 to USD 1.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.00% during the forecast period (2024 - 2032). The usage of the energy harvesting systems is advantageous as the devices connected could be virtually operated for an unlimited amount of time without any adverse effects on the environment are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The increasing adoption of energy-efficient and sustainable home automation systems is one of the key drivers behind the growth of the Energy Harvesting System Market. Energy harvesting systems are designed to capture and store energy from ambient sources, such as solar, thermal, and mechanical sources, and convert it into usable energy to power electronic devices and systems. In recent years, there has been a significant increase in the demand for home automation systems that are energy-efficient and can help reduce energy consumption and costs. Energy harvesting systems can play a crucial role in enabling such systems by providing a reliable and sustainable source of energy for powering various devices and systems within the home.
Additionally, the increasing popularity of smart homes and the Internet of Things (IoT) has further boosted the demand for energy harvesting systems. These systems are designed to power various IoT devices and sensors that are used in smart homes, thereby reducing the need for batteries and reducing the environmental impact of such devices. Moreover, the rising awareness about the importance of sustainability and energy conservation has also played a key role in driving the growth of the energy harvesting system market. With increasing concerns about climate change and the need to reduce carbon emissions, governments and organizations across the world are investing in energy harvesting technologies as a way to promote sustainable energy solutions. Overall, the combination of increasing demand for energy-efficient and sustainable home automation systems, the growing popularity of smart homes and IoT, and rising awareness about sustainability and energy conservation are driving the Energy Harvesting System Market. Therefore, such factors related to Energy Harvesting System have enhanced the Energy Harvesting System market CAGR across the globe in recent years.
The Energy Harvesting System Market segmentation, based on sensor, includes IR, Temperature, Pressure, and Humidity. Temperature sensors are widely used in energy harvesting systems for monitoring and controlling the temperature in a variety of applications, such as building automation, industrial automation, and healthcare. These sensors can be used to capture energy from ambient sources, such as body heat or heat from machinery, and convert it into usable energy for powering various electronic devices and systems.
The Energy Harvesting System Market segmentation, based on component, includes Controller, Transistor, Capacitor, and Battery. The controller segment held the majority share in 2022. Controllers are a critical component of energy harvesting systems as they manage and regulate the flow of energy to various electronic devices and systems. These controllers are typically designed to optimize the energy transfer from the energy source to the device or system, thereby ensuring maximum efficiency and minimal wastage.
Based on application, the Energy Harvesting System Market segmentation includes Industrial, Automation, Transportation, and Consumer electronics. The industrial segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2030. Industrial applications, such as manufacturing and process control, typically have high energy requirements and can benefit significantly from energy harvesting systems. Energy harvesting systems can be used to power various devices and sensors used in these applications, such as wireless sensor networks, machine monitoring systems, and asset tracking systems. These all factors for Energy Harvesting System positively impact the market growth.
Figure 2: Energy Harvesting System Market, by Application, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region has a large and growing population, which is driving the demand for various energy-efficient technologies and solutions. The region is also a significant market for various key application areas for energy harvesting systems, such as industrial automation, transportation, and consumer electronics. In addition, the region has a significant presence in the manufacturing sector, with a growing focus on automation and process control. Energy harvesting systems can be used to power various sensors and devices used in these applications, such as wireless sensor networks, machine monitoring systems, and asset tracking systems. The increasing adoption of smart homes and IoT devices in the region is also likely to drive the demand for energy harvesting systems, given the potential benefits of these systems in powering various IoT devices and sensors.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Figure 3: Energy Harvesting System Market SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe’s Energy Harvesting System market accounts for the second-largest market share. Europe has a strong focus on sustainability and energy efficiency, with governments and organizations investing in various energy-efficient technologies and solutions. The region has also been at the forefront of the development and adoption of renewable energy technologies, such as wind and solar power, which can be used as ambient energy sources in energy harvesting systems. Industrial automation and process control are widely used in Europe, and energy harvesting systems can be used to power various sensors and devices used in these applications, such as wireless sensor networks and machine monitoring systems. Europe is also a significant market for consumer electronics and smart home technologies, which can benefit from the use of energy harvesting systems to power various IoT devices and sensors. Further, the Germany Energy Harvesting System market held the largest market share, and the UK Energy Harvesting System market was the fastest-growing market in the European region.
The North American region has a strong focus on energy conservation and sustainability, with governments and organizations investing in various energy-efficient technologies and solutions. Moreover, the region has a significant presence in various key application areas for energy harvesting systems, including industrial automation, transportation, and consumer electronics. In addition, the increasing adoption of smart homes and the Internet of Things (IoT) in the region is likely to drive the demand for energy harvesting systems, given the potential benefits of these systems in powering various IoT devices and sensors. Moreover, the U.S. Energy Harvesting System market held the largest market share, and the Canadian Energy Harvesting System market was the fastest-growing market in the North American region.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Energy Harvesting System market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Energy Harvesting System industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Energy Harvesting System. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Energy Harvesting System industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Energy Harvesting System industry to benefit customers and expand the market sector. Major Energy Harvesting System market players, including Honeywell International Inc, ABB limited Inc, STMicroelectronics Inc., Levent power corporation, Microchip Technology, Energous Corporation, Marlow Industries, G24 Innovations Inc., MicroGent technologies, Green peak technologies, Cypress semiconductor corp, and others, are attempting to increase market demand by funding R&D initiatives.
Microchip Technology is a leading semiconductor company that designs and manufactures microcontroller, analog, and mixed-signal semiconductors, as well as other system solutions for a range of end markets. Microchip's products are used in a wide range of applications, including automotive, industrial, consumer, aerospace and defense, communications, and computing. The company's microcontrollers are widely used in embedded systems, and its analog and mixed-signal products are used in a range of power management and signal conditioning applications. In addition to its product portfolio, Microchip offers a range of development tools and software to support its customers in designing and implementing solutions using its products.
G24 Innovations is a technology company that specializes in the development of solar cells and solar module technology. G24 Innovations has developed a proprietary dye-sensitized solar cell technology that uses organic dyes to capture sunlight and convert it into electricity. This technology can be used in a range of applications, including consumer electronics, building-integrated photovoltaics, and outdoor lighting. The company's products include flexible solar modules, solar-powered chargers for mobile devices, and solar panels for outdoor lighting. G24 Innovations has also developed a range of partnerships with companies in various industries, including consumer electronics, lighting, and building materials.
Honeywell International Inc
ABB limited Inc
STMicroelectronics Inc.
Levent power corporation
Microchip technology
Energous Corporation
Marlow Industries
G24 Innovations Inc.
MicroGent technologies
Green peak technologies
Cypress semiconductor corp among others
February 2021: STMicroelectronics announced the launch of a new generation of extreme power-saving microcontrollers (MCUs), the STM32U5 series.
September 2022: Energous Corporation and e-peas announced the launch of a new Wireless Energy Harvesting Evaluation Kit.
IR
Temperature
Pressure
Humidity
Controller
Transistor
Capacitor
Battery
Industrial
Automation
Transportation
Consumer electronics
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.5 Billion |
| Market Size 2023 | USD 0.31 Billion |
| Market Size 2032 | USD 1.2 Billion |
| Compound Annual Growth Rate (CAGR) | 12.00% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Sensor, Component, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Honeywell International Inc, ABB limited Inc, STMicroelectronics Inc., Levent power corporation, Microchip Technology, Energous Corporation, Marlow Industries, G24 Innovations Inc., MicroGent technologies, Green peak technologies, Cypress semiconductor corp |
| Key Market Opportunities | The increasing adoption of energy builds home automation |
| Key Market Dynamics | An increasing amount of IoT devices, urban population, power efficiency, and durability power efficiency and safety The growing demand of industries |
Frequently Asked Questions (FAQ) :
The Energy Harvesting System Market size was valued at USD 0.5 Billion in 2022.
The global market is projected to grow at a CAGR of 12.00% during the forecast period, 2024-2032.
North America had the largest share in the Energy Harvesting System Market.
The key players in the market are Honeywell International Inc, ABB limited Inc, STMicroelectronics Inc., Levent power corporation, Microchip Technology, Energous Corporation, Marlow Industries, G24 Innovations Inc., MicroGent technologies, Green peak technologies, Cypress semiconductor corp.
The controller category dominated the market in 2022.
The industrial had the largest share in the global market for Energy Harvesting System.
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