Energy Harvesting Market Size

Energy Harvesting Market size was valued at USD 551 Million in 2023 and is poised to grow from USD 607.2 Million in 2024 to USD 1320.65 Million by 2032, growing at a CAGR of 10.2% during the forecast period (2025-2032).

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.