2021 Market Roundup: Growing Need of Energy Harvesting System in Coming Future

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Increased use of remote energy recovery systems to minimize power outages, improve reliability and supplement an electronic system’s main power source in an electronic circuit is mainly due to the expansion of the world market for energy harvesting systems.

Overview

Energy harvesting is the process of extracting energy from external sources and then capturing and storing it. Wireless autonomous devices, including portable electronics and wireless sensor networks, are often exposed to this technique. This method usually uses less energy for low power devices and incorporates electrical circuits to control and protect storage devices. An electrical circuit, sensor components (sensors and transducers) and a storage unit make up the power recovery system. The energy harvesting system charges the transducer with unconventional energy sources, which are then converted into electricity and stored in the battery unit. An additional electronic circuit controls the power produced and protects the storage unit and the main circuit in the system. The sensing elements act as a converter that converts physical energy (such as light, heat, vibration, pressure, salinity gradients and radio frequency) into electrical energy. This electrical energy is stored either in batteries, thin film capacitors, supercapacitors, ultracapacitors or used to operate low power electronic circuits.

According to a recent study by Facts and Factors, the global market for energy harvesting systems was estimated at around USD 432 million by 2020 and is expected to reach USD 700 million by the end of the financial year 2026, rising to a CAGR of almost 8.4% between 2021 and 2026.

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Growth factors

The market for energy harvesting systems is expected to be driven by increasing demand for safe, energy efficient and long-lasting systems that require little or no maintenance during the forecast period. The growing IoT trend would effectively increase the need for energy efficient and wireless sensors autonomous systems. As a result, the need for efficient energy harvesting devices will increase, reducing the need for battery charging and lowering the overall cost. As a result, IoT intervention in a number of industrial and non-industrial applications will increase market demand for energy harvesting systems within the forecast period. The higher start-up costs for energy harvesting systems as well as the limitations of remote rolled network modules are two major factors hindering the growth of the energy harvesting system industry.

Top market players

Some major players in the worldwide energy harvesting market are Bionic Power, Convergence Wireless, Cymbet, Cypress Semiconductor, ABB, Enocean, Fujitsu, Greenpeak Technologies, Honeywell, IXYS Corporation, Laird, Linear Technology, Lord Microstrain, Microchip Technology, MIDE Technology, O- Flexx Technologies, Powercast Corporation, Stmicroelectronics, Texas Instruments, Voltree Power. among other.

Key segments

The global market for energy harvesting system is separated based on end-use system, technology, component, end-use industry and region. Based on technology, the global energy harvesting system industry is categorized into vibration energy harvesting, light energy harvesting, thermal energy harvesting and radio frequency energy harvesting. Based on the end-use system, the global energy harvesting system industry is categorized into the HVAC wireless system, wireless switching system, tire pressure monitoring system, wireless recording and telematics system, remote health monitoring system, asset tracking system and regenerative energy harvesting system. Based on components, the global Energy Harvesting System industry is categorized into power management ic (PMIC), transducers and secondary batteries. Based on the end-use industry, the global energy harvesting system industry is categorized into consumer electronics, industry, transportation, building and home automation, security and others.

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