The global energy harvesting system market is set to reach USD 843.2 million by 2024, growing at a CAGR of 11.5% during the forecast period. The growth of this market is attributed towards excessive demand for durable, safe and power-efficient systems that necessitate least amount of maintenance along with increasing initiatives undertaken by government authorities towards green energy.

Energy harvesting systems develops diverse arrangements established upon the amount, source and type of energy that is converted into electrical energy. This harvesting system utilizes a source of energy such as light, vibration and heat.

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Market Segmentation
On the basis of technology, the energy harvesting system market is segmented into vibration, radio frequency (RF), light and thermal. Among all these segments, light energy has been generating largest revenue throughout the estimated period and will continue to be the most used technology during the forecast period. The large market size of light energy segment is due to massive accessibility of advanced applications and availability of sunlight in the solar energy domain across the globe.

Insight by Application
On the basis of application, energy harvesting system market is classified into Industrial, Building and Home Automation, Consumer Electronics, Security, and Transportation. Of all these applications, building and home automation is observing increasing demand in the energy harvest system market across the globe. Extensive increase in installation and execution of sensor-based techniques along with increase in demand for energy proficient power systems from commercial domain to residential domain.

Geographic Overview
Geographically, energy harvesting system market in Europe is the largest revenue holder, globally. The growth of energy harvesting system market in this region is attributed towards widespread adoption of this system in automotive domain for the establishment of both commercials as well as passengers’ car segment. Moreover, Asia-Pacific is expected to witness the highest CAGR during the forecast period owing to exaggerated growth in both manufacturings as well as construction domain in various emerging countries of this region.

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Competitive Insight
The key players operating in the energy harvesting system market includes Fujitsu Group, Arveni, Cymbet Corporation, Convergence Wireless, Powercast Corporation, Honeywell International Inc., Texas Instruments Incorporated, STMicroelectronics N.V., ABB Ltd., Bionic Power, Inc., Energy Partners, Yantra Harvest Energy Private Limited, and EnOcean GmbH.

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