Energy Harvesting System Market Size, Share, Growth, Trends, and Global Industry Analysis: By Technology (Light Energy Harvesting, Vibration Energy Harvesting, Electromagnetic/Radio Frequency (RF) Energy Harvesting, Thermal Energy Harvesting), By Component (Transducers, PMIC, Secondary Batteries), By Application (Building & Home Automation, Consumer Electronics, Industrial, Transportation, Security) and Region  

Energy harvesting system market size was valued at US$ 783.5 million in 2023 and is poised to grow at a CAGR of 8.2% from 2024-2030. The market for energy harvesting systems is driven by factors such as the growing need for renewable energy sources and the growing use of IoT devices, where energy harvesting prolongs battery life and lowers maintenance costs. High initial setup costs and difficulties with energy storage are the main sources of constraints. Developments in wearable electronics and low-power applications are driving opportunities, opening up new markets for industrial automation, smart homes, and healthcare. Traditional battery technologies' competitiveness and environmental conditions that cause energy yield fluctuations are threats. This market is expected to increase as more companies prioritize sustainability, especially those looking for maintenance-free, autonomous power solutions.

Key Players

The energy harvesting system market share includes several companies such as ABB (Switzerland), Advanced Linear Devices (US), Convergence Wireless (US), Cymbet (US), EnOcean (Germany), Fujitsu (Japan), Greenpeak Technologies (Netherlands), Honeywell (US), Laird (UK), Microchip Technology (US), Microchip Technology (US)x, STMicroelectronics (Switzerland), and Texas Instruments (US).

key Developments

• In May 2019, Cybus, a German startup, said that it had obtained capital from btov Partners to deploy its industrial Internet of Things (IIoT).
• In March 2023, The L9961 battery management system (BMS) device, introduced by STMicroelectronics (Switzerland), provides accurate and adjustable performance, enhancing the effectiveness, robustness, and safety of energy harvesting from Li-ion and Li-polymer batteries for uses in energy storage, power tools, and medical devices.
• In March 2023, The NGC1081, a novel NFC tag-side controller with integrated sensing and energy harvesting capabilities, was introduced by Infineon Technologies AG (Germany). Low-cost, smart sensing loT devices for a range of uses, including data loggers, smart thermostats, and medical patches, are made possible by this small, battery-free solution.

Energy Harvesting System Market Segmentation

By Technology: Light energy harvesting uses photovoltaic (PV) technology to capture sunlight and transform it into electrical energy that could potentially be used. When exposed to light, solar cells, which are usually composed of silicon, produce electricity because photons excite electrons, which results in an electric current. From little gadgets like solar chargers to bigger systems like home solar panels, this technique is used in many different applications. Benefits include decreased power prices, less dependency on fossil fuels, and sustainability. Innovations such as organic photovoltaics and flexible solar panels are increasing integration potential and efficiency, encouraging a more sustainable energy future, and increasing the use of solar energy in daily life.

By Component: Transducers, which transform energy from one form to another for useful purposes, are crucial parts of energy harvesting systems. Piezoelectric, electromagnetic, and thermoelectric devices are among their many varieties. Electromagnetic transducers capture energy from electromagnetic fields, frequently used in RF energy harvesting. Thermoelectric transducers use heat from industrial processes or the environment to convert temperature differences into electrical energy. Piezoelectric transducers convert mechanical energy from vibrations or pressure into electrical energy, making them suitable for applications in industrial machinery and wearables. Transducers increase the effectiveness of energy harvesting systems in a variety of applications by enhancing energy capture and conversion.

By Application: Energy harvesting technologies are used by building and home automation systems to improve convenience and energy efficiency. To power features like lighting, heating, and security, these systems use sensors and gadgets that gather energy from ambient sources like light or motion. For instance, smart lighting systems that automatically adapt based on occupancy can be operated by motion sensors that capture kinetic energy. To maximize energy efficiency, solar panels mounted on buildings can also power HVAC systems and controlled blinds. Building and home automation systems that incorporate energy harvesting solutions save energy expenses, promote sustainability, and enhance general comfort and security in both residential and commercial settings.