Energy Harvesting System Market to grow at a Significant Rate during Forecast Period
Adoption of internet of things and preference shift towards wireless network infrastructure is expected to drive global energy harvesting system market through 2026.
According to TechSci Research report, “Global Energy Harvesting System Market, By Technology (Light Energy, Vibration Energy, Thermal Energy, Others), By Application (Building & Home Automation, Consumer Electronics, Industrial, Others), By Component (Transducer, Power Management Integrated Circuit, Storage Systems), By Company and By Geography, Forecast & Opportunities, 2026”, global energy harvesting system market is expected to grow at a steady rate during the forecast period on account of rising trend of adoption of renewable energy sources, demand for managing the solution efficiently has surged across the world ultimately boosting the global energy harvesting system market. Emerging technology of tire management system adopted in automobiles to conserve energy and power-up the small sensors installed in tires by using the harvested energy. Electric vehicles market is expected to witness promising growth in the coming years thereby fueling the growth for global energy harvesting system market. Government policies and initiatives for adoption of cleaner and green power sources is fostering the market growth. Also, initiatives to lower the carbon footprint is creating the need for minimal energy wastage thereby surging the demand for the energy harvesting system globally. Advantage of energy saving from efficient energy harvesting system leading to lower electricity bills and reduction in carbon emission are the two contributing factors aiding in the global energy harvesting system market.
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Global battery monitoring system market is segmented based on filter type, price segment, sales channel, region, and company. Based on filter type, market is further categorised into light energy, vibration energy, thermal energy, others. Light energy harvesting technology is anticipated to witness highest CAGR during the forecast period owing to high-end investments by major players of solar energy manufacturing companies. Plethora of companies are providing solar energy solutions for building and home automations, security applications and other significant sectors.
Based on application, global energy harvesting system is divided into building & home automation, consumer electronics, industrial and others. Buildings and home automations is expected to register highest growth during the predicted period on account of rising adoption of internet of things and wireless systems to enhance consumer experience and aid in real-time analytics is propelling the global energy harvesting system market growth. Based on components, market is segmented into transducer, power management integrated circuit, storage systems. Transducer is expected to hold lion’s share in market for the next five years due to the changing climatic conditions and rise in expenditure on the renewable energy resources.
STMicroelectronics, Cymbet Corporation, ABB Group, Powercast Corporation, EnOcean GmbH, Analog Devices Inc., Voltree Power, Inc., Schneider electric, Bionic Power Inc., Honeywell International Inc. are the leading players operating in the global energy harvesting system market. Energy harvesting system manufacturers are increasingly focusing on developing and manufacturing high-tech products. To meet evolving customer demand with respect to better efficiency and durability, several energy harvesting system manufacturers are coming up with their technologically advanced offerings.
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“High penetration of internet across the globe coupled with surge in demand for emerging advanced technology internet of things to enhance consumer experience is expected to aid in the global harvesting energy system market growth. Also, rising trend of home automation and implementation of energy harvesting in residential and commercial buildings is expected to foster market growth until 2026,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Energy Harvesting System Market, By Technology (Light Energy, Vibration Energy, Thermal Energy, Others), By Application (Building & Home Automation, Consumer Electronics, Industrial, Others), By Component (Transducer, Power Management Integrated Circuit, Storage Systems), By Company and By Geography, Forecast & Opportunities, 2026” has evaluated the future growth potential of global energy harvesting system market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global energy harvesting system market.
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