The global energy harvesting market is expected to expand at a CAGR of 12.17%, reaching US$783.93 million in 2028 from US$350.784 million in 2021.

NOIDA, UTTAR PRADESH, INDIA, August 30, 2023/EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the global energy harvesting market is projected to grow at a CAGR of 12.17% between 2021 and 2028 to reach US$783.93 million by 2028.

Some of the prime factors propelling the global energy harvesting system market growth include the growing application of the Internet of Things (IoT) including smart cities, machine-to-machine communication, growing environmental awareness, and supportive government policies.

The process of absorbing environmental energy and transforming it into electrical power for use in other systems is known as energy harvesting. The energy harvesting systems market is influenced by several variables, including the rising need for renewable energy for commercial use, including solar power, wind power, and thermal power among others. Energy harvesting devices can help close the energy supply and demand gap as a result of population growth leading to the rising need for energy consumption.

Various developments and government initiatives are driving the global energy harvesting system market. For instance, in January 2023, the Sentinel thermoelectric generator, a dependable energy source for low-power applications, was introduced by Global Power Technologies. It has a HAZLOC application certification. Additionally, it allows for simple, low-cost installation by a single person. Moreover, in September 2022, a new Wireless Energy Harvesting Evaluation Kit was released by E-Peas SA and Energous Corporation for energy harvesting applications in smart homes and buildings, industrial IoT medical, and asset trackers for retail and warehouses.

Access sample report or view details: https://www.knowledge-sourcing.com/report/energy-harvesting-system-market

The global energy harvesting system market is divided into photovoltaic, electromagnetic, thermoelectric, RF, piezoelectric, and others depending on the technologies. It is anticipated that demand for piezoelectric energy harvesters will increase in both established and emerging nations. The piezoelectric energy harvesters convert kinetic energy from shocks or vibrations in the environment into electricity. These generators (energy harvesters) provide a reliable and durable solution by transforming generally lost vibrational energy in the environment into usable electrical energy.

The energy harvesting system market is segmented into industrial, consumer electronics, home automation, transportation, and others based on the application. Energy harvesting systems are used in industrial settings to catch ambient shaking, rotation, and vibration from equipment and building structures and transform them into useful energy. The growth of industrial applications is a result of IIoT development.

According to geographical segmentation, North America is expected to continue its dominance in the global energy harvesting system market. According to projections, the North American market will expand further owing to rising consumer demand for clean energy sources, technical improvements, and government programs encouraging them. Furthermore, the Asia Pacific region is being driven by factors such as rapid urbanization and industrialization, expanding acceptance of renewable energy sources, encouraging government programs, and growing awareness of sustainability and energy efficiency.

The market research study includes coverage of ABB, Honeywell, Cymbet, Fujitsu, Texas Instruments, Microchip Technology, STMicroelectronics, Powercast Corporation, EnOcean GmbH, and Kinergizer among other significant players in the global energy harvesting system market.

The global energy harvesting system market analytics report segments the market as below:

• By Technologies

o Photovoltaic
o Electromagnetic
o Thermoelectric
o RF
o Piezoelectric
o Others

• By Application

o Industrial
o Consumer Electronics
o Home Automation
o Transportation
o Others

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• UK
• Germany
• France
• Italy
• Others

o Middle East and Africa

• Saudi Arabia
• South Africa
• Others

o Asia Pacific

• Japan
• China
• India
• Australia
• Others

Companies Profiled:

• ABB
• Honeywell
• Cymbet
• Fujitsu
• Texas Instruments
• Microchip Technology
• STMicroelectronics
• Powercast Corporation
• EnOcean GmbH
• Kinergizer

Explore More Reports:

• Energy Harvesting Devices Market: https://www.knowledge-sourcing.com/report/energy-harvesting-devices-market

• Energy Storage Market: https://www.knowledge-sourcing.com/report/energy-storage-market

• Clean Energy Technology Market: https://www.knowledge-sourcing.com/report/clean-energy-technology-market

Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
info@knowledge-sourcing.com
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.