Northbrook, IL -- (SBWire) -- 06/22/2021 --According to the new market research report "Energy Harvesting System Market with COVID-19 Impact Analysis by End-use System, Technology, Component (Transducers, Power Management Integrated Circuits and Secondary Batteries), Application, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the Energy Harvesting System Market is estimated to be worth USD 468 million in 2021 and is projected to reach USD 701 million by 2026, at a CAGR of 8.4 %.
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Growing demand for safe, power-efficient, and durable systems that require minimum or no maintenance, surging implementation of IoT devices in automation and energy harvesting systems for building and home automation, increasing trend for green energy and favorable initiatives by governments, rising adoption of wireless sensor networks equipped with energy harvesting systems are some of the prominent factors for the growth of the energy harvesting system market globally.
Light energy harvesting to hold the largest market share during the forecast period in the energy harvesting system market
The light energy harvesting technology segment, especially the solar energy harvesting technology segment, held the largest market size in 2020, and the same trend is likely to continue in the next few years owing to the increase in the manufacturing of solar-based products and the growing efficiency of photovoltaic cells. Solar energy is the most widely available natural resource that can be easily converted into electricity. The vibration energy harvesting segment is expected to account for the second-largest share of the market owing to the use of products such as piezoelectric devices in various applications, such as industrial and transportation.
The use of energy harvesting systems for building and home automation application is expected to witness the highest growth rate during the period 2021 and 2026
In 2020, the building and home automation application accounted for the largest share of the energy harvesting system market, in terms of value, owing to the increasing adoption rate of wireless sensor networking (WNS) and Internet of Things (IoT) for home automation and control systems, which implement energy harvesting devices and sensors. The industrial application held the second-largest size of the market for energy harvesting systems used in industrial sensors for measurement and control.
Browse in-depth TOC on "Energy Harvesting System Market"
189 – Tables
71 – Figures
232 – Pages
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Americas to hold the largest share of the energy harvesting system market during the forecast period
The Americas is expected to dominate the energy harvesting system market, followed by Europe, in the near future. This growth in the Americas can be attributed to the high adoption of energy harvesting technology in building automation, industrial sensor networks, and transportation.
The report profiles key players such as ABB , Linear Technology, Convergence Wireless, Cymbet, EnOcean, Fujitsu, Honeywell, ST Microelectronics, Powercast Corporation and Texas Instruments.
Related Reports:
Home Automation System Market with COVID-19 Impact Analysis, By Management, Product (Lighting Control, Security & Access Control, HVAC Control, Entertainment & Other Controls), Software & Algorithm, and Region - Global Forecast to 2025
Wireless Sensor Networks Market by Offering (Hardware, Software, Services), Sensor Type, Connectivity Type, End-user Industry (Building Automation, Wearable Devices, Healthcare, Automotive & Transportation, Industrial), and Region - Global Forecast to 2023
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Energy Harvesting System Market Worth $701 Million by 2026