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