Global Energy Harvesting Market

Energy Harvesting Market Size, Share, Growth Analysis, By Technology(Solar Energy Harvesting, Vibration Energy Harvesting, Radio Frequency Energy Harvesting, Thermal Energy Harvesting), By Component(Energy Harvesting Transducers, Power Management Integrated Circuits (PMIC), Storage SystemSegmentApplication Sub-SegmentsBuilding & Home Automation, Consumer Electronics), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20D2247 | Region: Global | Published Date: March, 2024
Pages: 200 |Tables: 68 |Figures: 64

Energy Harvesting Market Insights

Global Energy Harvesting Market size was valued at USD 3.03 Billion in 2022 and is poised to grow from USD 3.63 Billion in 2023 to USD 15.57 Billion by 2031, at a CAGR of 19.96% during the forecast period (2024-2031).

Energy harvesting involves generating usable electrical energy by harnessing the power from one or multiple renewable energy sources. It plays a crucial role in powering IoT devices situated in remote locations that necessitate minimal battery upkeep. Especially in areas devoid of conventional power outlets, energy harvesting emerges as a vital solution, enabling otherwise inaccessible devices to sustain themselves by tapping into renewable resources. Devices utilized for this purpose are referred to as energy harvesting systems.

The expanding array of Internet of Things (IoT) applications including smart cities, smart homes, Industrial IoT (IIoT), and Machine-to-Machine (M2M) communications, among others, is anticipated to propel market expansion. Anticipated drivers include heightened environmental consciousness, favorable government regulations, and targets for reducing greenhouse gas emissions, alongside escalating energy needs. Moreover, augmented research and development endeavors aimed at innovating new technologies are poised to stimulate market growth during the forecast period.

The growing emergence of markets in developing nations, alongside the increasing adoption of solar energy in rural and off-grid contexts, will significantly augment the landscape of the solar energy harvesting market. Additionally, energy harvesting emerges as a pivotal solution in remote or off-grid areas where consistent power sources are scarce or unfeasible, thereby positively influencing the industry's prospects.

Market Snapshot - 2024-2031

Global Market Size

USD 3.03 Billion

Largest Segment

Solar Energy Harvesting

Fastest Growth

Solar Energy Harvesting

Growth Rate

19.96% CAGR

Global Energy Harvesting Market ($ Bn)
Country Share for North America Region (%)

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Energy Harvesting Market Segmental Analysis

The global energy harvesting market is segmented on the basis of Technology, Component, Application and region. By Technology, the market can be segmented into Solar Energy Harvesting, Vibration Energy Harvesting, Radio Frequency Energy Harvesting, Thermal Energy Harvesting. By component, the market is segmented into Energy Harvesting Transducers, Power Management Integrated Circuits (PMIC), Storage System. By Application the market can be segment into Building & Home Automation, Consumer Electronics, Industrial, Transportation, Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis by Technology

Solar Energy Harvesting, also referred to as light energy harvesting, dominates the market share, involving the collection of energy from natural or artificial light sources like sunlight or indoor lighting. Typically, photovoltaic cells, commonly known as solar panels, convert light energy into electricity. There's been a notable increase in companies dedicated to developing products based on solar energy, falling under the category of solar energy harvesting.

Furthermore, the vibration energy harvesting sector is anticipated to secure a substantial portion of the market, propelled by the extensive utilization of piezoelectric devices in transportation and industrial environments. These devices harness mechanical vibrations and convert them into electrical energy, offering sustainable power solutions for applications ranging from vehicle sensors to machinery monitoring systems.

Analysis by Component

The transducer segment has historically maintained a significant market share and is projected to sustain growth throughout the forecast period, driven by the escalating utilization of electromechanical transducers for harvesting vibration energy. These transducers are pivotal in energy harvesting systems, converting ambient mechanical energy, like vibrations, into electrical energy. For instance, piezoelectric transducers are commonly deployed beneath roads and railways to capture vehicle-induced vibrations and convert them into electricity, a trend expected to fuel transducer demand in energy harvesting systems.

Furthermore, the rising adoption of electromechanical transducers for harvesting vibration energy is a key driver for global market demand. Energy storage is equally critical, enabling the storage of surplus energy for later use. Components like supercapacitors, rechargeable batteries, and energy storage capacitors act as buffers, storing excess energy generated by transducers and releasing it when external sources are insufficient or absent, ensuring continuous device powering.

Analysis by Application

Building and home automation stands out as the primary revenue generator within the industry, offering a spectrum of energy-efficient systems and devices deployed in both residential and commercial structures. These systems leverage energy-harvesting technology, incorporating wireless sensors, HVAC controls, lighting systems, and security devices to reduce reliance on traditional power sources, thereby promoting energy conservation and sustainability.

The market is driven by factors like urban population expansion, increased IoT integration, demand for power-efficient and durable systems, renewable energy adoption, and growing energy harvesting systems' penetration in building and home automation. Furthermore, the installation of sensor-based technologies in commercial spaces to achieve energy-efficient power systems is expected to boost demand for energy harvesting systems.

Global Energy Harvesting By Technology, 2022 (%)

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Energy Harvesting Market Regional Insights

North America leads the global market, fueled by its robust adoption of cutting-edge technologies such as the Industrial Internet of Things (IoT), surpassing other regions. Collaboration between the region's technology firms and cloud service providers has created new opportunities to integrate a wide range of equipment into the Industrial IoT network. Government initiatives aimed at reducing energy emissions from aging public buildings have further supported this expansion, exemplified by agreements like the one between the U.S. General Services Administration and IBM to implement advanced smart building technologies in 50 high-energy-consuming federal buildings. With the highest automation adoption across all industries, North America is poised to drive the worldwide energy harvesting systems market forward.

Meanwhile, the Asia-Pacific region is experiencing significant growth, propelled by emerging economies like Japan, China, and India, witnessing a surge in energy harvesting applications across various sectors. Additionally, the integration of energy harvesting technologies into building and smart home systems in Asia-Pacific further fuels market expansion, supported by the region's low operational and labor costs, attracting industry players to consider relocating their manufacturing facilities there, thus boosting IoT system deployment and overall market growth.

Global Energy Harvesting Market By Region, 2024-2031
  • Largest
  • Fastest

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Energy Harvesting Market Dynamics

Drivers

Expansion of wearable electronics and consumer electronics

  • The surge in demand for wearable electronics, encompassing smartwatches, fitness trackers, and health monitoring devices, underscores a burgeoning trend. Energy harvesting systems emerge as a promising solution, furnishing a self-sustaining power reservoir for these gadgets, thereby obviating the necessity for frequent battery changes or recharges. The seamless integration of energy harvesting technology into consumer electronics not only enhances user convenience but also prolongs the operational lifespan of portable devices by mitigating reliance on traditional power sources.

Remote and wireless applications

  • Energy harvesting systems offer a compelling solution for remote or wireless applications confronted with the difficulty of accessing traditional power sources. These applications span a wide array of sectors, such as wireless sensor networks utilized for environmental monitoring, smart agriculture practices, and asset tracking systems. By harnessing ambient energy from the environment, energy harvesting technologies empower these applications to function autonomously and wirelessly. This not only minimizes the need for frequent maintenance but also enhances operational efficiency significantly.

Restraint

Improving energy conversion efficiency

  • One of the primary challenges facing energy harvesting systems is the need to enhance energy conversion efficiency. Generating power from ambient sources often results in relatively low outputs compared to traditional power sources. Therefore, improving the efficiency of energy conversion technologies such as solar cells, thermoelectric generators, and electromagnetic harvesters is essential to fully exploit the potential of energy harvesting and make these systems more practical for everyday use.

Low power outputs

  • Energy harvesting systems often generate relatively low power outputs, which can present limitations for applications with higher power demands. This can be particularly challenging when powering energy-intensive devices or applications that require a continuous and significant power supply. Addressing this challenge involves finding innovative methods to enhance the power output of energy harvesting systems while maintaining high efficiency levels. By overcoming these obstacles, energy harvesting systems can better meet the diverse energy needs of various applications, contributing to the advancement of sustainable power solutions in fields such as IoT, wireless sensing, and autonomous systems.

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Energy Harvesting Market Competitive Landscape

The Global Energy Harvesting Market is highly competitive and characterized by the presence of several key players. These players compete based on factors such as product portfolio, technological advancements, pricing strategies, and market reach. The market is driven by Expansion of wearable electronics and consumer electronics. Market players focus on strategic collaborations, partnerships, and mergers and acquisitions to expand their market presence and gain a competitive edge.

Top Player’s Company Profiles

  • Xidas (Germany)
  • Cedrat Technologies SA (France)
  • Physik Instrumente (PI) GmbH & Co. KG (Germany)
  • Cymbet Corporation (U.S.)
  • ZF Friedrichshafen AG (Germany)
  • Advanced Linear Devices Inc. (U.S.)
  • Tekceleo, Analog Devices (U.S.)
  • Mide Technology Corporation (U.S.)
  • Powercast (U.S.)

Recent Developments

  • In October 2023, Powercast and Nichicon collaborated to showcase a demonstration of wireless charging capabilities tailored for small electronic devices. This innovative approach seamlessly integrates radio frequency (RF) charging technology with a compact lithium-ion (Li-Ion) battery, offering a convenient and efficient solution for powering a diverse range of portable devices.
  • In October 2023, ALD unveiled a groundbreaking innovation with the introduction of the inaugural supercapacitor balancing chip, pioneering its entry into the market. This advanced chip is designed to avert overvoltage failures by boasting a rating of 3.00 volts or higher, setting a new standard for reliability and safety in energy storage systems.

Energy Harvesting Key Market Trends

  • Continual efforts to enhance photovoltaic technologies' efficiency, driven by ongoing research and development initiatives, are leading to more effective solar energy capture within the energy harvesting market. These advancements, coupled with innovative approaches in materials and design, contribute to improved overall system performance by maximizing solar energy utilization.These advancements add promising growth prospects to the energy harvesting market.
  • Moreover, the increasing adoption of decentralized energy solutions, alongside the integration of artificial intelligence (AI) and the Internet of Things (IoT) in renewable technologies, further drives market proliferation by enhancing efficiency and energy optimization. Empowered by technological advancements, end-users now have the capability to locally generate, store, and manage their energy, aligning with the growing demand for energy independence, resilience, and sustainability.

Energy Harvesting Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by meansof Primary Exploratory Research backed by robust Secondary Desk research.

Our Global Energy Harvesting Market analysis reveals several factors driving its trajectory towards dynamic growth. Among these, the largest market segment consistently revolves around solar energy harvesting, which dominates the global energy harvesting market. Notably, there has been a significant increase in companies dedicated to developing products based on solar energy, particularly in light energy harvesting. Concurrently, another rapidly growing segment within this realm is energy harvesting transducers, which hold sway over the global energy harvesting market.

In terms of application, building and home automation emerge as the top revenue generator within the industry, encompassing a spectrum of energy-efficient systems and devices deployed in both residential and commercial structures. North America leads the global market, driven by its robust adoption of cutting-edge technologies like the Industrial Internet of Things (IoT) compared to other regions. Collaborations between technology firms and cloud service providers are creating fresh opportunities to integrate a wide range of equipment into the Industrial IoT network.

Report Metric Details
Market size value in 2022 USD 3.03 Billion
Market size value in 2031 USD 15.57 Billion
Growth Rate 19.96%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Technology
    • Solar Energy Harvesting, Vibration Energy Harvesting, Radio Frequency Energy Harvesting, Thermal Energy Harvesting
  • Component
    • Energy Harvesting Transducers, Power Management Integrated Circuits (PMIC), Storage SystemSegmentApplication Sub-SegmentsBuilding & Home Automation, Consumer Electronics, Industrial, Transportation, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Xidas (Germany)
  • Cedrat Technologies SA (France)
  • Physik Instrumente (PI) GmbH & Co. KG (Germany)
  • Cymbet Corporation (U.S.)
  • ZF Friedrichshafen AG (Germany)
  • Advanced Linear Devices Inc. (U.S.)
  • Tekceleo, Analog Devices (U.S.)
  • Mide Technology Corporation (U.S.)
  • Powercast (U.S.)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Energy Harvesting Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Energy Harvesting Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Energy Harvesting Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Energy Harvesting Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Energy Harvesting Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Energy Harvesting Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

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FAQs

Energy Harvesting Market size was valued at USD 3.03 Billion in 2022 and is poised to grow from USD 3.63 Billion in 2023 to USD 15.57 Billion by 2031, at a CAGR of 19.96% during the forecast period (2024-2031).

The Energy Harvesting Market is highly competitive and characterized by the presence of several key players. These players compete based on factors such as product portfolio, technological advancements, pricing strategies, and market reach. The market is driven by Expansion of wearable electronics and consumer electronics. Market players focus on strategic collaborations, partnerships, and mergers and acquisitions to expand their market presence and gain a competitive edge. 'Xidas (Germany)', 'Cedrat Technologies SA (France)', 'Physik Instrumente (PI) GmbH & Co. KG (Germany)', 'Cymbet Corporation (U.S.)', 'ZF Friedrichshafen AG (Germany)', 'Advanced Linear Devices Inc. (U.S.)', 'Tekceleo, Analog Devices (U.S.)', 'Mide Technology Corporation (U.S.)', 'Powercast (U.S.)'

The surge in demand for wearable electronics, encompassing smartwatches, fitness trackers, and health monitoring devices, underscores a burgeoning trend. Energy harvesting systems emerge as a promising solution, furnishing a self-sustaining power reservoir for these gadgets, thereby obviating the necessity for frequent battery changes or recharges. The seamless integration of energy harvesting technology into consumer electronics not only enhances user convenience but also prolongs the operational lifespan of portable devices by mitigating reliance on traditional power sources.

Continual efforts to enhance photovoltaic technologies' efficiency, driven by ongoing research and development initiatives, are leading to more effective solar energy capture within the energy harvesting market. These advancements, coupled with innovative approaches in materials and design, contribute to improved overall system performance by maximizing solar energy utilization.These advancements add promising growth prospects to the energy harvesting market.

North America leads the market, fueled by its robust adoption of cutting-edge technologies such as the Industrial Internet of Things (IoT), surpassing other regions. Collaboration between the region's technology firms and cloud service providers has created new opportunities to integrate a wide range of equipment into the Industrial IoT network. Government initiatives aimed at reducing energy emissions from aging public buildings have further supported this expansion, exemplified by agreements like the one between the U.S. General Services Administration and IBM to implement advanced smart building technologies in 50 high-energy-consuming federal buildings. With the highest automation adoption across all industries, North America is poised to drive the worldwide energy harvesting systems market forward.

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