Wireless Sensor Networks Is Fastest Growing Segment Fueling The Growth Of Energy Harvesting Systems Market

https://www.coherentmarketinsights.com/market-insight/energy-harvesting-systems-market-5671
Energy Harvesting Systems Market


https://www.coherentmarketinsights.com/market-insight/energy-harvesting-systems-market-5671
Energy Harvesting Systems Market


Market Overview:

Energy harvesting systems utilize unused or ambient energy sources like thermal, kinetic or solar and convert them into usable electric energy. These systems help power wireless sensor networks and other portable electronic devices in remote areas where replacing or recharging batteries is not feasible.

Market key trends:
Miniaturization of energy harvesting components is one of the major trends in the energy harvesting systems market. Significant progress has been made to miniaturize piezoelectric, thermoelectric, and photovoltaic components to make them compatible with miniature wireless sensor nodes and IoT devices. Smaller components allow for increased power densities and larger-scale deployment of energy harvesting solutions. Advances in micro and nano technologies have enabled the development of ultra-small-scale energy harvesters paving way for future growth.

The global Energy Harvesting Systems Market Share is estimated to be valued at US$ 571.46 Mn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis
Energy Harvesting Systems Market is segmented into product, application, and geography. Based on product, vibration energy harvesting dominated the market in 2022 due to a wide range of applications in industrial machinery and automotive vibration harvesting systems. Vibration energy harvesting accounted for around 35% of the total market share in 2022. Based on application, building and home automation segment dominated the market in 2022. The growth can be attributed to the increasing adoption of energy harvesting systems for lighting and wireless sensor networks in smart buildings.

Key Takeaways
The global Energy Harvesting Systems Market is expected to witness high growth, exhibiting a CAGR of 7.7% over the forecast period, due to increasing demand for clean energy resources. The global Energy Harvesting Systems Market size for 2023 is US$ 571.46 Mn.

Regional analysis - North America dominated the global market in 2022 and is expected to maintain its dominance over the forecast period. Rapid technological advancements and presence of key players in the region are driving the market. Asia Pacific is expected to witness fastest growth over the forecast period owing to increasing investments in clean energy technologies in developing economies such as China and India.

Key players operating in the Energy Harvesting Systems Market are Piezo.com, Microchip Technology Inc., Cypress Semiconductor Corporation, EPeas SA, Texas Instruments Incorporated, EnoCean GmbH, STMicroelectronics NV, ABB Limited, Analog Devices Inc., Powercast Corporation, and Advanced Linear Devices Inc. Key players are focusing on new product launches and partnerships for expanding their market share. For instance, in 2021, EnOcean introduced the ECO 200 energy harvesting module for industrial IoT applications. Read More: https://www.dailyprbulletin.com/the-growth-of-energy-harvesting-systems-market-size-and-share-analysis/

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