Global Energy Harvesting System Market Overview
Demand for energy is expected to burgeon all over the globe, as the number of devices and processes are rapidly rising, which are relying on electricity for functioning. Market Research Future (MRFR) has provided a report that has studied the global energy harvesting system market which is exploring the semiconductors and electronics industry and other industry verticals that appraise the market expansion and prospects. The market is expected to gain an influential CAGR during the forecast period.
The development of energy harvesting systems is primarily based on the principle of tapping int the available energy sources that can be transformed into a viable source of energy. The mounting advent of the internet of things (IoT) has enhanced the need for an uninterrupted source of energy further. Moreover, a need for creating clean and portable energy sources is expected to motivate the energy harvesting system in the coming years.
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Apart from that, the rising integration of state-of-the-art technologies in commercial electronics such as automation and robotics is expected to complement the growth of the global energy harvesting system market through the review period. However, there are a few factors that are hindering the market growth over the assessment period. Lack of technical expertise and a high cost of systems are some of the factors that are hampering the growth of the global energy harvesting system market over the forecast period.
Market Segmentation
The global Energy Harvesting System Market is segmented by components, methods, sensors, applications, and region. Based on components, the global energy harvesting system market is segmented into controllers, transistors, capacitors, solar cells, batteries, and switches. Based on methods, the global energy harvesting system is segmented into photovoltaic, vibration, and thermal. Based on sensors, the global energy harvesting system market is segmented into pressure, temperature, humidity, and IR. Based on application, the global energy harvesting system market is segmented into consumer electronics, automation, transportation, and industrial.
Key Players
Some of the major players in Global Energy Harvesting System Market include ABB Limited (Switzerland), Fujitsu (Japan), Honeywell International Inc.(U.S.), Siemens AG (Germany), Microchip Technology Inc. (U.S.), Convergence Wireless (U.S.), Cymbet Corporation (U.S.), STMicroelectronics (Switzerland), and Texas Instruments (U.S.) among others.
Regional Outlook
The global energy harvesting system market is segmented into North America, South America, Europe, Asia Pacific, and the Middle East & Africa. North America is expected to dictate the global energy harvesting system market with the largest share owing to the growing automation and smart home market. The US is expected to dominate the regional energy harvesting system market therefore, driving the regional market revenue to a prominent level. The energy harvesting system market within Asia Pacific is anticipated to generate a high growth rate over the forecast period of 2016 to 2022. Within Europe, the energy harvesting system market is likely to witness fast-paced ascension over the forecast period.
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Industry Updates:
Sep 2019 Though the Infiniti Project Black S prototype project has concluded, Infiniti and Renault F1 Team have detailed development of their high-performance, dual-hybrid powertrain. The test vehicle created as a result is based on the Infiniti Q60 sports coupe through its 400ps VR30 twin-turbo V6 engine, and dual-hybrid system, which joins supercar performance with smart energy management. The VR30 engine has been altered with the conception of dual heat-energy harvesting systems (MGU-H: motor generator unit – heat), which create electricity under acceleration.
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