Energy Harvesting System Market by Technology (Light, Vibration, Radio Frequency (RF), Thermal), Component (Transducers (Photovoltaic, Piezoelectric, Electromagnetic, RF, Thermoelectric), PMICs, Secondary Batteries) - Global Forecast to 2028
[267 Pages Report] The energy harvesting system market was valued at USD 0.6 billion in 2023 and is estimated to reach USD 0.9 billion by 2028, registering a CAGR of 10.0% during the forecast period.
The growth of the energy harvesting system market is driven by rising environmental concerns, miniaturization and flexibility requirements, and integration of IoT devices in energy harvesting systems for building and home automation.
Energy Harvesting System Market Forecast to 2028
To know about the assumptions considered for the study, Request for Free Sample Report
Market Dynamics:
Drivers: Miniaturization and flexibility requirements
The demand for smaller, more flexible energy harvesting systems is increasing, driven by the growing need for compact, lightweight, and versatile power solutions. Applications such as wearable electronics, IoT sensors, and smart packaging require energy harvesting systems that seamlessly integrate into small form factors and adapt to various shapes and structures. Miniaturization of energy harvesting systems enables their integration into smaller devices, making them more practical and efficient. For instance, in wearable electronics, energy harvesting systems can generate power from the wearer's movements or body heat, eliminating the need for frequent battery replacements. This enhances user convenience, extends device lifespan, and reduces electronic waste.
Flexibility is another crucial requirement for energy harvesting systems, particularly in applications where conformability and adaptability to curved surfaces are necessary. Flexible energy harvesting devices can be integrated into textiles, curved surfaces, or irregularly shaped objects without compromising performance or aesthetics. This opens up possibilities for energy harvesting integration in smart clothing, flexible displays, and curved electronics.
Restraint: Geographic and environmental constraints
Energy harvesting technologies depend on specific geographical regions or environmental conditions to perform optimally. For instance, solar energy harvesting relies on the availability of sunlight for effective power generation, making it less suitable for regions with limited sunlight exposure or high levels of cloud cover. Thus, geographic and environmental constraints can hinder the widespread adoption of energy harvesting systems in areas where the necessary resources are not readily available. Regions with low sunlight exposure may find solar energy harvesting less viable and may need to rely on other sources of energy generation. Similarly, regions with low wind speeds may not benefit from wind energy harvesting systems.
Furthermore, environmental conditions such as extreme temperatures, humidity, or corrosive environments can impact the efficiency and durability of energy harvesting systems. For example, extreme cold temperatures can reduce the efficiency of solar panels, while high humidity levels can affect the performance of certain energy harvesting devices. These environmental limitations may require additional considerations and adaptations in system design, materials, or maintenance protocols, which can increase costs and complexity.
Opportunities: Emergence of smart cities
The emergence of smart cities presents lucrative opportunities for the energy harvesting system market. As cities become more populated and interconnected, there is a growing need for sustainable energy solutions to power smart infrastructure. Smart buildings, a key component of smart cities, can benefit from energy harvesting technologies in several ways. By integrating energy harvesting systems into building structures, energy can be generated from ambient sources such as solar, thermal, or kinetic energy. This energy can power low-power devices, sensors, and monitoring systems within the building. Energy harvesting technologies can also capture and utilize wasted energy, such as harvesting heat from HVAC systems or capturing vibrations from building operations. These applications reduce the reliance on traditional energy sources and enhance the overall energy efficiency of buildings.
Intelligent transportation systems, another crucial aspect of smart cities, can also leverage energy harvesting systems. Traffic management systems, streetlights, and signage can be powered by energy harvested from ambient sources, reducing the dependence on the electrical grid. For instance, solar panels integrated into road surfaces can harvest solar energy and power streetlights or charging stations for electric vehicles. Energy harvesting technologies can also be used to capture energy from braking or vibrations in transportation systems, which can be converted into electricity to power onboard sensors, communications devices, or lighting.
Furthermore, energy-efficient networks within smart cities can be powered by energy harvesting systems. Wireless sensor networks, for instance, can utilize energy harvesting technologies to power the multitude of sensors deployed throughout the city for environmental monitoring, waste management, or security purposes. By harnessing energy from the environment, these networks can operate autonomously and reduce the need for frequent battery replacements or external power sources. The integration of energy harvesting systems into smart cities offers numerous benefits. It reduces reliance on traditional energy sources, promotes sustainability, enhances energy efficiency, and improves the overall resilience of city infrastructure. Energy harvesting technologies enable smart cities to achieve self-sufficiency and reduce their environmental footprint. Moreover, they contribute to cost savings by reducing energy consumption and maintenance requirements.
Challenge: Limitations associated with integrating energy harvesting systems into existing infrastructure
The integration of energy harvesting systems into existing infrastructure poses significant challenges due to the diverse nature of the infrastructure and the need for retrofitting or modifications. The integration process involves adapting the infrastructure to accommodate energy harvesting technologies and ensuring compatibility with existing systems and operations. One of the primary challenges is retrofitting older structures or buildings. Many existing buildings were not designed with energy harvesting systems in mind, which can make the integration process complex and costly. Retrofitting may involve modifications to the building envelope, electrical systems, and structural components to incorporate energy harvesting devices such as solar panels, piezoelectric sensors, or kinetic energy harvesters. Structural assessments and engineering expertise are often required to ensure the integrity and safety of the retrofitting process.
Similarly, integrating energy harvesting systems into roadways or transportation infrastructure presents unique challenges. The installation of energy harvesting technologies, such as piezoelectric materials or solar panels, may require road resurfacing or modifications to accommodate the devices. Coordination with transportation authorities and consideration of traffic management are essential to minimize disruptions during the integration process. Furthermore, the integration of energy harvesting systems with the existing transportation infrastructure may involve overcoming regulatory and safety requirements. Industrial equipment and machinery also pose challenges for integration with energy harvesting systems. Retrofitting existing equipment to harness energy from ambient sources, such as vibrations or waste heat, may require modifications to the equipment design or the addition of energy harvesting modules. Compatibility with control systems and electrical interfaces must also be considered to ensure seamless integration without compromising the operational efficiency or safety of the equipment.
Energy Harvesting System Ecosystem
Light energy harvesting segment to hold larger market share during the forecast period.
In 2022, the light energy harvesting segment accounted for the larger share of the energy harvesting system market. As the demand for clean, sustainable energy solutions continues to rise, light energy harvesting offers a promising avenue for harnessing renewable energy. The advancements in photovoltaic technologies, such as solar panels, have paved the way for the efficient conversion of sunlight into usable electricity.
Additionally, emerging technologies such as organic solar cells, perovskite solar cells, and transparent solar panels are revolutionizing the field by enhancing efficiency and expanding the range of applications. The versatility of light energy harvesting allows it to be integrated into a wide array of devices and systems, including wearables, Internet of Things (IoT) devices, autonomous sensors, and smart infrastructure. This technology reduces reliance on traditional energy sources, promotes energy independence, reduces carbon footprint, and opens opportunities for decentralized power generation. With ongoing research and development efforts, the growth potential of light energy harvesting is expected to accelerate, driving innovation, sustainability, and economic growth in the coming years.
Transducers segment account for the largest share of the energy harvesting system market for during the forecast period
In 2022, the transducers segment held the largest share of the energy harvesting system market. The rising demand for self-powered devices and the growth of the Internet of Things (IoT) are driving the need for energy harvesting transducers. Energy harvesting transducers offer an attractive alternative to traditional batteries, enabling the development of self-sufficient devices that can operate without external power sources or frequent battery replacements. The increasing awareness of sustainability and energy efficiency is pushing industries towards renewable and environmentally friendly power solutions, reducing reliance on disposable batteries. The expanding use cases in various industries, including building automation, automotive, and transportation, further contribute to the growing demand. These factors collectively create a favourable environment for the increased adoption of energy harvesting transducers in the coming years.
Building & home automation application to exhibit highest growth in terms of energy harvesting system market during the forecast period
The building & home automation application segment is expected to account for the highest growth of the energy harvesting system market. The segment is driven by the increasing demand for energy-efficient and smart living environments. The integration of energy harvesting systems into these applications has emerged as a key growth factor, offering numerous benefits in terms of sustainability, convenience, and cost savings. These systems enhance energy efficiency by harnessing renewable sources like solar, thermal, or kinetic energy to power lighting, HVAC systems, sensors, and smart devices. With wireless connectivity and scalability, the energy harvesting systems provide easy integration without complex wiring. The maintenance-free operation and reduced environmental impact of energy harvesting systems further contribute to market growth across building & home automation applications. By leveraging energy harvesting systems, the building & home automation applications offer a greener and more adaptable future.
Energy harvesting system market in Asia Pacific estimated to grow at the fastest rate during the forecast period
The energy harvesting system market, in Asia Pacific is expected to grow at the highest CAGR during the forecast period. The region's technological advancements and manufacturing capabilities contribute to the development and commercialization of energy harvesting systems. Furthermore, the rising awareness and concern for environmental sustainability among consumers and businesses drive the adoption of clean energy practices, including energy harvesting. The Asia Pacific region is also witnessing significant investment in smart city projects, which require efficient and sustainable power solutions, thereby fuelling the demand for energy harvesting systems.
Energy Harvesting System Market by Region
To know about the assumptions considered for the study, download the pdf brochure
Key Market Players
Major vendors in the energy harvesting system companies include STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Texas Instruments Incorporated (US), Analog Devices, Inc. (US), Infineon Technologies AG (Germany), Renesas Electronics Corporation (Japan), EnOcean GmbH (Germany), ABB (Switzerland), Honeywell International Inc. (US), Qorvo, Inc. (US). Apart from this, Kistler Group (Switzerland), Cymbet Corporation (US), Mide Technology Corporation (US), Physik Instrumente (PI) GmbH & Co. KG (Germany), CTS Corporation (US), Trameto Limited (UK), Nexperia (Netherlands), CeramTec GmbH (Germany), Bionic Power Inc. (Canada), Kinergizer (Netherlands), Powercast Corporation (US), Micropelt GmbH (Germany), Advanced Linear Devices, Inc. (US), APC International Ltd. (US), and Voltree Power (US) are among a few emerging companies in the energy harvesting system market.
Get online access to the report on the World's First Market Intelligence Cloud
- Easy to Download Historical Data & Forecast Numbers
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
Request Sample Scope of the Report
Get online access to the report on the World's First Market Intelligence Cloud
- Easy to Download Historical Data & Forecast Numbers
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
|
Report Metric |
Details |
| Estimated Market Size | USD 0.6 billion in 2023 |
| Projected Market Size | USD 0.9 billion by 2028 |
| Growth Rate | CAGR of 10.0% |
|
Market size available for years |
2019—2028 |
|
Base year |
2022 |
|
Forecast period |
2023—2028 |
|
Segments covered |
Technology, Component, End-use System, Application and Region |
|
Geographic regions covered |
North America, Europe, Asia Pacific, and RoW |
|
Companies covered |
The major players include STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Texas Instruments Incorporated (US), Analog Devices, Inc. (US), Infineon Technologies AG (Germany), Renesas Electronics Corporation (Japan), EnOcean GmbH (Germany), ABB (Switzerland), Honeywell International Inc. (US), Qorvo, Inc. (US) and Others- total 25 players have been covered. |
Energy Harvesting System Market Highlights
This research report categorizes the energy harvesting system market based on technology, component, end-use system, application, and region.
|
Segment |
Subsegment |
|
By Technology: |
|
|
By Component: |
|
|
By End-use System: |
|
|
By Application: |
|
|
By Region: |
|
Recent Developments
- In March 2023, STMicroelectronics (Switzerland) launched the L9961 battery management system (BMS) device, which offers precise and adaptable performance, improving the efficiency, durability, and safety of energy harvesting from Li-ion and Li-polymer batteries for applications such as power tools, energy storage, and medical devices.
- In March 2023, Infineon Technologies AG (Germany) launched the NGC1081, a new NFC tag-side controller that integrates sensing and energy harvesting capabilities. This compact, battery-free solution enables low-cost, smart sensing IoT devices for various applications, from medical patches to data loggers and smart thermostats.
- In June 2022, At Lightfair 2022, EnOcean GmbH (Germany) showcased its self-powered sensor and switch solutions based on energy harvesting wireless technology. The Easyfit portfolio offered wireless controls for smart lighting systems, enabling energy savings and improved environments. The products were battery-free, wireless, and interoperable, making them suitable for various building automation and IoT applications.
Frequently Asked Questions (FAQ):
What is the total CAGR expected to be recorded for the energy harvesting system market during 2023-2028?
The global energy harvesting system market is expected to record the CAGR of 10.0% from 2023-2028.
Which regions are expected to pose significant demand for energy harvesting system market from 2023-2028?
North America, and Asia Pacific is expected to pose significant demand from 2023 to 2028. Major economies such as US, Canada, China, Japan, and South Korea are expected to have a high potential for the future growth of the market.
What are the major market opportunities in the energy harvesting system market?
Rapid urbanization and emergence of smart cities, adoption of sensors in wearable electronics, Use of human energy harvesting for implantable biomedical devices, and ocean energy harvesting are projected to create lucrative opportunities for the players operating in the energy harvesting system market during the forecast period.
Which are the significant players operating in energy harvesting system market?
Key players operating in the energy harvesting system market are STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Texas Instruments Incorporated (US), Analog Devices, Inc. (US), Infineon Technologies AG (Germany), Renesas Electronics Corporation (Japan), and EnOcean GmbH (Germany).
What are the major applications of the energy harvesting system market?
Building & home automation, consumer electronics, industrial, transportation, and security are the major applications of the energy harvesting system market.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
The study involved four major activities in estimating the size for energy harvesting system market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, sources such as annual reports, press releases, investor presentations, white papers, and articles by recognized authors were referred to. Secondary research was done to obtain critical information about the market’s supply chain, value chain, key market players, and market segmentation according to industry trends, regions, and developments from both market and technology perspectives.
Primary Research
Extensive primary research has been conducted after understanding and analyzing the energy harvesting system market scenario through secondary research. Several primary interviews have been conducted with key opinion leaders from demand- and supply-side vendors across North America, Europe, Asia Pacific, and RoW. Approximately 25% of primary interviews have been conducted with the demand side and 75% with the supply side. These primary data have been collected through telephonic interviews, questionnaires, and emails.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the complete market engineering process, both top-down and bottom-up approaches, along with several data triangulation methods, have been used to perform the market size estimation and forecasting for the market segments and subsegments listed in this report. Extensive qualitative and quantitative analyses have been performed on the complete market engineering process to list key information/insights throughout the report.
Key players in the market have been identified through secondary research, and their market shares in the respective regions have been determined through primary and secondary research. This entire procedure includes the study of annual and financial reports of the top players as well as extensive interviews with industry experts, such as CEOs, VPs, directors, and marketing executives, for key insights (both quantitative and qualitative) on the energy harvesting system market. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All the possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data has been consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report.
Energy Harvesting System Market: Bottom-Up Approach
The bottom-up approach has been employed to arrive at the overall size of the energy harvesting system market from the revenues of key players and their share in the market.
Energy Harvesting System Market: Top-Down Approach
In the top-down approach, the overall market size has been used to estimate the size of the individual markets (mentioned in the market segmentation) through percentage splits from secondary and primary research. For the calculation of specific market segments, the most appropriate parent market size has been used to implement the top-down approach. The bottom-up approach has also been implemented for the data extracted from the secondary research to validate the market size of various segments.
The market share of each company has been estimated to verify the revenue shares used earlier in the bottom-up approach. With the data triangulation procedure and validation of data through primaries, the overall parent market size and each market size have been determined and confirmed in this study.
Data Triangulation
After arriving at the overall market size through the process explained above, the overall market has been split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all the segments, market breakdown and data triangulation procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.
Definition
An energy harvesting system captures and harnesses ambient energy from the surrounding environment, converting it into usable electrical power for low-power electronic devices. It allows for the extraction of energy from sources such as light, heat, vibration, motion, radio waves, or electromagnetic fields and transforms it into electricity through specialized transducers. This harvested energy can be used immediately to power electronic devices or stored in batteries or capacitors for later use. Energy harvesting systems offer a sustainable and self-sufficient power solution, reducing the reliance on traditional power sources and enabling the deployment of low-power devices in various applications, including wireless sensors, IoT devices, wearables, and remote monitoring systems.
Key Stakeholders
- Raw material and manufacturing equipment suppliers
- Integrated device manufacturers (IDMs)
- Energy harvesting system component manufacturers
- Original device manufacturers (ODMs)
- Original equipment manufacturers (OEMs) of energy harvesting systems
- Distributors and traders
- Research organizations
- Organizations, forums, alliances, and associations related to energy harvesting systems
Report Objectives
- To define, describe, segment, and forecast the size of the energy harvesting system market in terms of value based on technology, component, application, and region
- To define, describe, segment, and forecast the size of the energy harvesting system market in terms of volume based on component
- To define and describe the energy harvesting system market based on end-use system
- To forecast the market size for various segments with respect to four regions, namely North America, Europe, Asia Pacific, and the Rest of the World (RoW)
- To identify and analyze the drivers, restraints, opportunities, and challenges influencing the growth of the energy harvesting system market
- To provide case study analysis, patent analysis, technology analysis, ecosystem mapping, pricing analysis, Porter’s Five Forces analysis, and regulatory landscape pertaining to the energy harvesting system market
- To provide a detailed overview of the value chain of the energy harvesting system market
- To strategically analyze micromarkets1 with regard to individual growth trends, prospects, and contributions to the total market
- To analyze opportunities for stakeholders by identifying the high-growth segments of the energy harvesting system market
- To strategically profile key players, comprehensively analyze their market positions in terms of ranking and core competencies2, and provide a competitive landscape of the energy harvesting system market
- To analyze strategic approaches such as product launches, acquisitions, agreements, and partnerships in the energy harvesting system market
- To study the impact of the recession on the energy harvesting system market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Company Information:
- Detailed analysis and profiling of additional market players (up to 7)
Generating Response ...
Growth opportunities and latent adjacency in Energy Harvesting System Market