| Status : Published | Published On : Jan, 2024 | Report Code : VRSME9018 | Industry : Semiconductor & Electronics | Available Format :
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Page : 184 |
Global Energy Harvesting System Market – Analysis and Forecast (2025 – 2030)
Industry Insights by Technology (Vibration, Radio Frequency (RF), Light and Thermal), by Component (Transducer (Photovoltaic, Piezoelectric, Electrodynamic, Electromagnetic, RF Transducer and Thermoelectric), Storage Battery, and Power Management Integrated Circuit (PMIC)), by Application (Industrial, Building and Home Automation, Consumer Electronics, Security, and Transportation)
Industry Overview
The Global Energy Harvesting System Market is projected to witness significant growth in the coming years. With an estimated value of USD 1.1 billion in 2023, the market is expected to reach USD 2.6 billion by 2030, reflecting a strong CAGR of 8.8% during the period of 2025-2030. This growth can be attributed to several factors, including the rising demand for durable, safe, and power-efficient systems that require minimal maintenance. Additionally, government authorities' increasing focus on promoting green energy initiatives has also contributed to the market's expansion.
Energy harvesting systems develops diverse arrangements established upon the amount, source and type of energy that is converted into electrical energy. This harvesting system utilizes a source of energy such as light, vibration and heat.
Energy Harvesting System Market Segmentation
Insight by Technology
On the basis of technology, the energy harvesting system market is segmented into vibration, radio frequency (RF), light and thermal. Among all these segments, light energy has been generating largest revenue throughout the estimated period and will continue to be the most used technology during the forecast period. The large market size of light energy segment is due to massive accessibility of advanced applications and availability of sunlight in the solar energy domain across the globe.
Insight by Component
Based upon component, energy harvesting system market is categorized into transducer, storage battery, and PMIC. Among all these components, transducer is anticipated to witness highest CAGR of 12.1% during the forecast period. The extensive growth of this segment is pertaining towards excessive utilization of IoT by several industry domains, technological enhancement in networking and power intelligence across the world. Moreover, reduced costs of actuators and sensors are another factor driving the growth of transducer that is thereby strengthening the growth of energy harvesting system globally. Transducer is further subcategorized into photovoltaic, piezoelectric, electrodynamic, electromagnetic, RF transducer and thermoelectric.
Insight by Application
On the basis of application, energy harvesting system market is classified into Industrial, Building and Home Automation, Consumer Electronics, Security, and Transportation. Of all these applications, building and home automation is observing increasing demand in the energy harvest system market across the globe. Extensive increase in installation and execution of sensor-based techniques along with increase in demand for energy proficient power systems from commercial domain to residential domain.
Industry Dynamics
Energy Harvesting System Market Growth Drivers
The global energy harvesting system market is experiencing significant growth, primarily due to the increasing focus on harnessing energy from diverse sources like wind, solar, and thermal power. This emphasis is fueled by the efforts of various government organizations that aim to promote the widespread utilization of renewable energy sources. The rising concerns regarding air pollution and global warming have prompted governments to take decisive actions to reduce dependence on fossil fuels and encourage the adoption of renewable energy alternatives. These collective endeavors are key drivers propelling the growth of the energy harvesting system market on a global scale.
Furthermore, increasing procedures for diminishing of carbon footprints worldwide is another factor pertaining towards the growth of global energy harvesting system market. Additionally, ever-changing patterns in rainfall and soaring temperatures are further fluctuating the budding arrangements of plants thereby strengthening the requirement of energy harvesting system and thus increasing its market revenue.
Energy Harvesting System Market Challenges
Lack of standardization and consumer awareness is expected to further hinder the growth of global energy harvesting system market. Moreover, the availability of abundant encrypted devices and ecosystems reduces the efficiency of energy harvesting system industry that is less user-friendly and restraining the growth of energy harvesting system market across the globe.
Energy Harvesting System Industry Ecosystem
Globally industry players operating in energy harvesting system market are leveraging market growth by launching new products in the market that is further enhancing their products portfolio. For instance, EnOcean GmbH launched self-powered wireless sensors in IoT for energy harvesting solutions that is based upon standardized specifications.
Recent Devlopments By the Key Players
Fujitsu partnered with Mitsubishi UFJ Financial Group, Inc. (MUFG) to deliver nature-positive outcomes through the conservation of natural capital and biodiversity. With this partnership, Fujitsu will leverage its AI, blockchain, and other technologies and its expertise in DX together with MUFG’ s global network, knowledge in financing, and new business creation to work on solutions to achieve nature-positive outcomes.
ABB Canada collaborated with Powrmatic Canada Ltd. Powrmatic will provide electrical contractors increased access to a complete portfolio of cutting-edge ABB products and smart building solutions including, panelboards, safety switches, and switchboards that are aimed at lowering energy consumption and ensuring electrical safety in residential and commercial buildings.
Energy Harvesting System Market Geographic Overview
Geographically, energy harvesting system market in Europe is the largest revenue holder, globally. The growth of energy harvesting system market in this region is attributed towards widespread adoption of this system in automotive domain for the establishment of both commercials as well as passengers’ car segment. Moreover, Asia-Pacific is expected to witness the highest CAGR during the forecast period owing to exaggerated growth in both manufacturings as well as construction domain in various emerging countries of this region.
Energy Harvesting System Market Competitive Insight
- Fujitsu Group
- Arveni
- Cymbet Corporation
- Convergence Wireless
- Powercast Corporation
- Honeywell International Inc.
- Texas Instruments Incorporated
- STMicroelectronics N.V.
- ABB Ltd.
- Bionic Power Inc.
- Yantra Harvest Energy Private Limited
- Energy Partners
- EnOcean GmbH
Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behaviour.
The Energy Harvesting System Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- By Technology
- Vibration
- Radio Frequency (RF)
- Light
- Thermal Solutions
- By Component
- Transducer
- Photovoltaic
- Piezoelectric
- Electrodynamic
- Electromagnetic
- RF Transducer
- Thermoelectric
- Storage Battery
- Power Management Integrated Circuit (PMIC)Network
- Transducer
- By Application
- Industrial
- Building and Home Automation
- Consumer Electronics
- Security
- Transportation
Region Covered in the Report
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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Source: VynZ Research
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Source: VynZ Research
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Energy Harvesting System Market