By 2028, the market value of energy harvesting systems will reach USD 15.01 billion — an exclusive report by Meticulous Research® – QNT Press Release

Reading, California, January 3, 2022 (Global News Service) – According to a new market research report called Energy harvesting system market By components (power management, sensors, transmitters), energy (solar, thermal, radio frequency energy), industrial (consumer electronics, healthcare, automotive), application, and geography— Global forecast to 2028″, In terms of value, the energy harvesting system market is expected to grow at a compound annual growth rate of 26.3%, reaching USD 15.01 billion by 2028.

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Energy harvesting is the process of converting environmental energy existing in the environment into electrical energy for powering autonomous electronic devices. Environmental energy such as solar, thermal, piezoelectric, radio frequency, and kinetic energy is captured and stored to charge wearable electronic devices and low-power devices used in wireless sensor networks. Components such as voltage regulators, controllers, converters, sensors, transmitters, and power management integrated circuits (PMICs) provide safe, reliable and effective functions for converting waste heat into usable electrical energy. Companies are using energy harvesting systems in various industries, such as consumer electronics, military and aerospace, automotive, and healthcare. In addition, the development of advanced energy harvesting systems contributes to the industrialization of energy harvesting technology.

Rural areas are increasingly adopting energy harvesting systems (EHS); increasing demand for safe, energy-efficient and durable energy systems; the growth trend of green energy; favorable government initiatives are the main factors driving the growth of the energy harvesting system market.

In addition, factors such as the adoption of ocean energy harvesting and the adoption of sensors in wearable electronics are further driving the growth of this market.

The impact of COVID-19 on the energy harvesting system market

The COVID-19 pandemic has severely affected many industries, such as automotive, healthcare, manufacturing, construction, and energy. The pandemic has had a major impact on the global energy system, inhibiting investment, and potentially slowing the expansion of key clean energy technologies around the world.

Countries such as the United States, the United Kingdom, China, and India have been negatively affected by the COVID-19 pandemic, and energy demand has fallen due to strict lockdowns and restrictions imposed by their respective governments.

In addition, factors such as reduced productivity, closure of production bases, and slower R&D investment have had a negative impact on the growth of the global energy harvesting system market.

However, during the COVID-19 pandemic, the healthcare sector has witnessed a positive impact. Medical resources have been prioritized to provide services to patients infected with the SARS-CoV-2 virus. The COVID-19 pandemic has increased the demand for accurate, safe, and timely medical testing and diagnostic systems.

In addition, the use of low-power electronic devices in the healthcare industry continues to drive global demand for energy harvesting systems. Medical equipment used to monitor blood sugar, heart rate, oxygen levels, and blood pressure by converting waste energy into electrical energy has encouraged various healthcare companies to adopt energy harvesting systems.

The sharp decline in investment and development in the energy sector has reduced global electricity demand. According to data from the International Energy Agency (IEA), the nationwide blockade has reduced electricity demand by more than 20%, and the partial blockade has less impact. The complete lockdown has reduced the daily electricity demand of countries such as France, India, Italy, Spain, the United Kingdom and the United States by at least 15%. In addition, due to the lockdown caused by the COVID-19 pandemic, Italy’s electricity demand has dropped by more than 25%.

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Energy harvesting system market overview

The energy harvesting system market is segmented according to components, energy, industry, application, and geographic location. The research also assessed industry competitors and analyzed the country-level market.

According to the components, the energy harvesting system market is divided into power management, sensors, transmitters, and other components. exist…

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