Global Energy Harvesting Market
Global energy harvesting market is expected to reach over triple digit million marks in the near future owing to the rising demand for wireless networks for industrial sectors and building & home automation. Progress in low power applications by replacing batteries are expected to provide new scopes for the growth of energy harvesting market. Moreover, with the advancement in nanotechnology, energy harvesting market is expected to witness new business scopes over the forecast period. Applications of nanotechnology are used to reduce the design complexities and size of energy harvesting devices and make it portable energy harvesting devices. Such enhancements in energy harvesting technologies are likely to bring ample of growth opportunities for the market in the near future.
As per the Planet Market Reports analyst, the global energy harvesting market size valued USD 290.4 billion in 2016 and is estimated to reach USD 942.0 billion by 2024 growing at a CAGR of 15.84% during the period 2016-2024.
Covered In This Global Energy Harvesting Market Report
The report covers the present ground scenario and the future growth prospects of the energy harvesting market for 2016-2024 along with the macro and micro economic factor affecting the energy harvesting market on global and regional level. We calculated the market size and revenue share on the basis of revenue generated from energy harvesting companies across the globe. Our report also provides the investments in energy harvesting projects in every region.
Global Energy Harvesting Market Segmentation
Based on Technology Type
Light Energy Harvesting
Electromagnetic Energy Harvesting
Vibration Energy Harvesting
Thermal Energy Harvesting
Based on System Type
Radio Frequency RF Transducers
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North America U.S. & Canada Energy Harvesting Market
Latin America Brazil, Mexico, Argentina & Rest of Latin America Energy Harvesting Market
Europe The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE Energy Harvesting Market
Asia-Pacific China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia Energy Harvesting Market
Middle East & Africa GCC, South Africa, North Africa, RoMEA Energy Harvesting Market
On the basis of technology type of energy harvesting, light energy harvesting technology is the most attractive and dominating segment along with 28% market share of the global energy harvesting market in 2016. Availability of plentiful solar energy is expected to support the growth of light energy harvesting segment during the forecast period. Growing inclination of end-users towards energy saving technologies is expected to propel the growth of the overall market over the forecast period..
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Other high-flying vendors in the market are: Microchip Technology Inc., Nextreme Thermal Solutions, Schneider Electric SE, STMicroelectronics N.V., Texas Instrument Incorporated, EnoCean GmbH, Greenpeak Technologies B.V., Convergence Wireless, Voltree Power, Silicon Laboratories Inc., Murata Manufacturing Co. Ltd., Mide Technology Corporation, Laird Plc., Lord Microstrain, POWERLeap Inc., Levant Power Corporation, Marlow Industries, Inc., MicroGen Systems, Maxim Integrated and G24 Innovations Limited.
According to our global Energy Harvesting market study on the basis of extensive primary and secondary research: “Rising application of the advance energy harvesting technology for building smart cities and home automation trending in the market and is expected to influence the growth of energy harvesting market in the near future. In 2015, among all the home automation systems, home energy equipment, safety and security systems were accounted for 72% of the total shipment of home devices.”
According to the report, rising demand for power efficient and safe wireless networks mainly in industrial sector, building and home automation are the major driver for the growth of energy harvesting market. Energy harvesting system helps to harvests free source of energy and reduces the dependency on battery which makes it more power efficient. Increasing demand for the smart meters and rising environment friendly initiatives by the governments are supporting the market growth. Over 800 million smart meters are estimated to be installed across the globe out of which 435 million smart meters are expected to be deployed in China by 2020..
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Name: Jennifer Daniel
Organization: Planet Market Reports