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DUBLIN--(BUSINESS WIRE)--Sep 30, 2022--
The "Energy Harvesting Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Energy Harvesting Systems Market to Reach $651.5 Million by 2025
The global market for Energy Harvesting System is projected to reach US$651.5 Million by 2025, registering a compounded annual growth rate (CAGR) of 9.7% over the analysis period.
The pressing need for energy security and the negative environmental footprint of traditional fossil fuels is driving the demand for solutions to reap sustainable and renewable energy sources. On the other side of the spectrum, there are efforts to capture small amounts of the wasted energy through energy harvesting. Recovering a small fraction of the energy is anticipated to hold major environmental and economic impact.
The market is heading for a major leap forward on account of confluence of multiple trends like rising demand for energy-efficient, durable systems, strong focus on clean energy and government initiatives to promote energy harvesting technology. The market is bound to gain from extensive adoption of IoT devices in the automation domain and energy harvesting systems in home and building automation.
The increasing attention on vibration energy harvesting has pushed the significance of portable, low-power energy sources, which can be attributed to mass adoption and advances in portable electronic devices. These energy harvesting systems are finding extensive adoption to enable wireless and portable electronic goods with extended service life.
Being a clean and renewable source of energy, vibration energy harvesting is garnering notable attention, driving the adoption of these systems in independent low-power microsystems, portable energy sources, self-powered wireless sensor systems and distributed computing to supplant or renew conventional power sources. Recent advances are anticipated to enable these systems to capture, deal with and store desirable measures of the motion energy as well as converting it into electricity to support low-power devices.
The United States represents the largest regional market for Energy Harvesting System, accounting for an estimated 37.4% share of the global total. The market is projected to reach US$254.9 Million by the close of the analysis period. The United States is forecast to emerge as the fastest growing regional market with a CAGR of 10.6% over the analysis period.
The US commands the global energy harvesting system market and is likely to register the fastest growth in the coming years on account of favorable macroeconomic scenario and technological advancements. The region has emerged as a major home and building automation market that uses renewable energy and presents lucrative opportunities to the energy harvesting systems market.
In addition to finding increasing adoption in building automation, consumer electronics and wireless sensor networks, these systems are expected to witness high acceptance in the marine, military and aerospace industries across the region. The Asia-Pacific (including China) market is likely to be propelled by increasing population and disposable income, and adoption of energy-efficient peripherals and components in the industrial sector.
The regional market is bound to be driven by development of sophisticated energy harvesting systems, mainly in China and India, and rising spending by governments to promote adoption of energy harvesting systems in both private and public spaces.
What`s New for 2022?
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/hfg4qe
View source version on businesswire.com:https://www.businesswire.com/news/home/20220930005270/en/
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KEYWORD:
INDUSTRY KEYWORD: ALTERNATIVE ENERGY ENERGY ENVIRONMENT CLIMATE CHANGE
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/30/2022 07:02 AM/DISC: 09/30/2022 07:03 AM
http://www.businesswire.com/news/home/20220930005270/en