YC shift: Energy harvesting is high on agenda for EU countries owing to the ongoing importance on climate changes and focus on energy independence. There is an emerging ecosystem of industrial automation players, start-up, end-user, and government in U.K. to bring some of the world most innovative energy harvesting projects in the country (i.e., The UK government is working with the UK space agency on a research project into space-based solar power (SBSP) system to harvest energy from space into electricity). Commercial complexes and manufacturing players also started using energy harvesting to optimize their energy cost and carbon footprints.
Interconnection: Energy harvesting in combination with renewal energy sources are getting used in industries, and commercial locations to minimize the energy dependence and carbon footprints. Moreover, energy harvesting is also getting used as a primary power source for low power IoT devices in building automation and industrial wireless communications for harsh working environment and difficult to reach places
Unknown: Consumer Electronics, Industrial, and Transpiration end-use segments were identified to account for higher revenues and remarkable growth rates in U.K. Presence of technologically advanced products as compared to other product segments, in addition with terms of prevalence and strong product pipeline by emerging start-ups are expected to propel growth in coming 4-5 years.
RI created: MnM recommended the client to look for inorganic growth strategies (academia partnership for R&D; partnership/collaboration with emerging start-ups for product development) to minimize their overall Go to Market (GTM) time and cost. With current stage of the energy harvesting market in U.K. timely market entry will be crucial to increase its footprint in U.K. energy harvesting market. We have also provided competitive Analysis Playbook to understand the competitor’s product strategy, focused use cases, target customer segment, team construct, and GTM strategy to help catapult to build effective strategy.
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