Energy harvesting, or energy scavenging, is a process that extracts small amounts of energy that would otherwise be lost in the form of heat, light, sound, vibration or movement. It uses this captured energy to improve efficiency and enable new technology. The efficiency is enhanced in computing costs which would otherwise be altered significantly. If this left-over heat energy were harvested, it would be used to help to power other devices with lower power rating.
Large-scale ambient energy (e.g. solar, wind and tide), is widely available and various technologies are being developed to utilize it efficiently. On the other hand, fossil Fuels are limited and an expensive sources of producing energy, which also pollutes environment. Sustainable energy can be obtained from these ambient sources. Considering the energy sector scenario there are small amounts of residual energy that could be useful if captured. Recovering these sources of energy would have a substantial economic and environmental impact. This is the incident where the energy harvesting practices need to be relied upon for energy efficiency and conservation.
Rising demand of energy, increasing awareness of efficient use of energy and government support for energy conservation are driving the growth of energy harvesting market. The factor which can restrain the growth of the market are high initial investment in the technology and lack of awareness about the technology in some economies.
Energy harvesting can be found in various application areas such as consumer durable electronics sector, industrial sector, building and home automation sector, military and aerospace sector, wireless sensor network (WSN), automotive sector, among others. Consumer electronics forms one of the major application areas in energy harvesting market.
The application of energy harvesting technology can also be done in the building of smart cities where the practices like energy saving, resource saving can be created which will lead to a safe and secured environment from the point of view of energy usage.
Energy harvesting market can be classified on the basis of different energy sources/fields. The market can be divided among: radiation (solar, electromagnetic and light, etc.), mechanical (fluid, elastic, kinetic and potential), chemical (battery, fuel cells and phase change), nuclear, magnetic, electric, thermal and gravitational. The utility of these energy sources depends upon the location of the energy harvester and can be restricted to a specific application for a given location. Among these, energy harvesting using electric and magnetic fields is most common.
Energy harvesting market can also be segmented on the basis of technology used which includes light energy harvesting, thermoelectric energy harvesting, electromagnetic energy harvesting, vibration energy harvesting, and fluid energy harvesting.
Energy harvesting market is segmented among various geographies like North America, Asia Pacific, Middle East and Africa, Europe and South and Central America for the ease of the study.
Among these regions, Europe is the fastest growing market, followed by North America, Asia Pacific and other regions. In North America, the U.S. accounts for the maximum share; whereas, in Asia Pacific, Japan accounts for the largest market share in the energy harvesting market. The global energy harvesting market is expected to grow at a fast pace over the next six years.
Some of the key players in the energy harvesting market are Arveni, Perpetuum, SolePower, EnOcean, GreenTeg, Fujitsu, G24 Innovations, Honeywell International, ABB Ltd., Siemens AG among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.