October 18 2019
The market for energy harvesting system is projected to grow at a staggering CAGR during the forecast period (2016-2022), reports Market Research Future (MRFR).
An energy harvesting system comprises an electronic circuit, sensing elements (sensors and transducers), and a storage unit. This system uses unconventional energy sources to charge the transducer, which is then converted into electricity and stored in the battery unit. The system also possesses a complementary electronic circuit which manages the generated power and protects the storage unit and primary circuitry.
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Drivers and Restraints
Expansion of the global energy harvesting system market is mainly owing to the growing adoption of energy harvesting systems in remote locations to prevent power interruptions and enhance the reliability of an electronic system. Energy harvesting systems utilize residual energy in the atmosphere to convert it into a usable form of energy.
Also, growing measures to reduce carbon footprints, reduced dependence on fossil fuels, increasing adoption of Internet of Things (IoT) and big data, and accelerated demand for power-efficient systems are some of the key factors driving the growth of the market.
However, the process of conversion done by the system is complex and requires a precise system to effectively harvest energy; a factor can increase the cost of deployment of these systems. This can negatively impact the growth of global Energy Harvesting System Market during the review period.
On the contrary, with increasing applications of energy harvesting systems across several industries, companies operating in the market are continuously launching new products to enhance their offerings. This highly affects the market growth in a positive way. To illustrate the point, in January 2018, EnOcean GmbH unveiled self-powered wireless sensors for energy harvesting solutions in IoT. It is based on the company's Bluetooth and sub 1 GHz band (ISO/IEC 14543-3-1x) wireless standards.
Some of the major players in Global energy harvesting system market include ABB Limited (Switzerland), Fujitsu (Japan), Honeywell International Inc.(U.S.), Siemens AG (Germany), Microchip Technology Inc. (U.S.), Convergence Wireless (U.S.), Cymbet Corporation (U.S.), STMicroelectronics (Switzerland), and Texas Instruments (U.S.) among others.
By region, the global energy harvesting system market has been segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is currently placed at the forefront position in the global marketplace and is prognosticated to retain its position through the assessment period. The U.S. is poised to contribute mist significantly towards the development of the energy harvesting system market in the region. Europe, too, is expected to signify developmental opportunities and exhibit a positive growth pattern over the next couple of years. Meanwhile, Asia Pacific is expected to scale the highest CAGR over the assessment period. The region is anticipated to exhibit the steepest rise in the growth curve in the forthcoming years.
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August 2018 – Researchers at Penn State’s Materials Research Institute and the University of Utah have developed a wearable energy harvesting device. The device generates energy from the swing of an arm while walking or jogging. The size of the device is the same as that of a wristwatch and produces enough power to run a personal health monitoring system.
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