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Pune, India, April 12, 2022 (GLOBE NEWSWIRE) — Energy harvesting system market is anticipated to grow at a steady growth rate over the forecast period, owing to supportive government policies along with the growing environmental awareness. Energy harvesting/power harvesting/energy scavenging is the process in which energy is captured from an environment of system and then converted into usable electric power. This system mainly comprises of a circuitry to charge an energy storage cell, and manage the power, offering protection and regulation. In addition, it eliminates need for conventional power sources, such as power cables and batteries, thus reducing general cost and can easily power remotely located electronic devices, wearable electronics, and sensor networks.
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Key Insights & Findings:
- The transducers segment led the energy harvesting system market and valued at USD 204.73 Million in 2020. This is mainly due to growth in usage of electromechanical transducers to harvest vibration energy.
- The light energy harvesting segment led the energy harvesting system market and valued at USD 156.03 Million in 2020. This is mainly due to an upsurge in the manufacturing of solar-based products coupled with the rising efficiency of photovoltaic cells.
- The building & home automation application segment accounted for the largest market share and valued at USD 180.64 Million in 2020. Growth of this segment is mainly driven by emerging demand for energy harvesting system in building & home automation as it offers flexibility for distribution as there is no requirement for hardwiring.
- The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region emerged …
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