Energy harvesting is a process of harvesting minute quantity of energy generated or originated from unconventional energy sources. An energy harvesting system consists of an electronic circuit, sensing elements (sensors and transducers), and a storage unit. The energy harvesting system uses unconventional energy sources to charge the transducer, which is converted into electricity and stored in the battery unit. The system also consists of a complementary electronic circuit to manage the generated power and to protect the storage unit and primary circuitry. The sensing elements work as a converter that transforms the physical form of energy (heat, light, pressure, vibration, radio frequency, salinity gradients, among others) into electrical energy. This electrical energy is either stored in storage devices such as an array of thin-film capacitors, ultracapacitors, supercapacitors, or batteries, or is used to power low power electronic circuits.
Market Dynamics: Global Energy Harvesting System Market
Expansion of the global energy harvesting system market is primarily due to the increasing adoption of energy harvesting systems in remote locations to prevent power interruptions, enhance the reliability of an electronic system or to supplement the primary source of power in an electronic circuit. Energy harvesting systems utilize residual energy present in the atmosphere to generate or convert it into a usable form of energy. The process of conversion is complex and requires a precise system and components to effectively harvest energy. This is expected to increase the cost of deployment of these systems, thereby negatively impacting the growth of global energy harvesting system market during the forecast period. However, these systems provide a reliable alternative of power generation from residual energy, so the impact of cost is expected to be on low to medium scale.
Market Segmentation: Global Energy Harvesting System Market
The global energy harvesting system market is segmented based on components, application, technology, and region. In terms of components, the market is split into transducer, power management circuit, and storage units. The transducers segment can be further divided, based on the type of energy to be harvested, into radio frequency (RF) transducer, thermoelectric transducer, piezoelectric transducer, electromagnetic transducer, and photovoltaic or photoelectric transducer. In terms of application, the energy harvesting system market is categorized into consumer electronics, industrial, transportation, security, home & building automation, and others. Based on technology, the market is segregated into thermal energy harvesting, light energy harvesting, radio frequency (RF) energy harvesting, vibration energy harvesting, and others. In terms of region, the global energy harvesting system market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America and Europe are expected to dominate the global energy harvesting system market in terms of volume and revenue, due to the presence of prominent manufacturers and initiatives set by governments in these regions for increasing adoption of clean energy sources. The market in developing regions such as South America and Asia Pacific is expected to expand at a considerable growth rate during the forecast period.
Prominent Market Players:
Key players involved in the global energy harvesting system market includes ABB, Advanced Linear Devices, Inc., Arveni, Bionic Power Inc., Convergence Wireless, Cymbet Corporation, Cypress Semiconductor Corporation, Enocean GmbH, Fujitsu, Greenpeak Technologies B.V., greenTEG AG, General Electric (Perpetua Power Source Technologies, Inc.), Honeywell International Inc., Kinergizer, Linear Technology, LORD MicroStrain, Microchip Technology Inc., O-Flexx Technologies GmbH, Piezo Systems, Inc., Powercast Corporation, Stmicroelectronics N.V., Texas Instruments Incorporated, and Voltree Power Inc. The report provides an in-depth analysis about the strategic business activities along with the market dynamics shaping the global aircraft brake system market over the period of study.
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.