SAN FRANCISCO, Sept. 7, 2020
SAN FRANCISCO, Sept. 7, 2020 /PRNewswire/ -- The global energy harvesting system market size is expected to reach USD 913.82 million by 2027 registering a CAGR of 6.5%, according to a new report by Grand View Research, Inc. The rising demand for power-efficient, safe, and durable units that require minimum maintenance will drive the product demand. Wide execution of the Internet of Things in home & building automation, energy harvesting technology, supportive initiatives by government authorities, growing adoption of WSN equipped with energy harvesting system, and increasing demand for clean and green energy is also likely to help boost the market growth.
Key suggestions from the report:
Read 130 page research report with ToC on "Energy Harvesting System Market Size, Share & Trends Analysis Report By Technology (Thermal, Vibration), By Component (Industrial, Consumer Technology), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/energy-harvesting-systems-market
Applications, such as building & home automation, are witnessing growing demand in the market across the world. Increasing demand for power-efficient systems is the main factor propelling the growth of the energy harvesting system (EHS) market. For most of the applications, microelectromechanical system-based energy harvesting is a good choice, as it delivers more stable energy performance for a longer period of time.
With the current rapid technical developments across North America, the region became the critical market for investment in the home and building automation segment, which will use renewable sources of energy and propel the growth of the EHS market. The U.S. accounted for most of the revenue share in North America. The market is expected to observe a significant growth owing to the thriving transportation and industrial sector.
Europe accounted for the largest market share in 2019 and will retain the leading position throughout the forecast period. Asia Pacific is expected to witness the fastest CAGR during the forecast period owing toa steady growth in both construction and manufacturing sectors in developing countries like China and India.
Grand View Research has segmented the global energy harvesting system market on the basis of component, technology, and region:
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