The energy harvesting system market growing demand for safe, power-efficient, and durable systems that require minimum or no maintenance surging implementation of IoT devices in automation and energy harvesting systems for building and home automation increasing trend for green energy and favorable initiatives by governments rising adoption of wireless sensor networks equipped with energy harvesting systems are some of the prominent factors for the growth of the market globally.

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The energy harvesting system market is estimated to be worth USD 468 million in 2021 and is projected to reach USD 701 million by 2026, at a CAGR of 8.4 %. The emergence of COVID-19, a deadly respiratory disease that originated in China, has become a pandemic and has spread globally at a fast pace. The impact of COVID-19 on the energy harvesting system market is currently limited, but the adoption of energy harvesting solutions may reduce more than expected in the short term as many service providers and integrators are involved in managing the unprecedented pandemic. The US is a major hub for the adoption of energy harvesting systems in applications such as building and home and industrial automation. Europe is home to many major players in manufacturing energy harvesting systems. With COVID-19 still impacting many economies across the world, it is impossible to predict the accurate impact on the market. As there are several suppliers of components and devices in Europe, the impact of lockdown is expected to affect global players. The disruption caused by the shortage of semiconductor components has resulted in a delay in the development of new energy harvesting modules and products. This has further stagnated the growth of existing orders received for energy harvesting systems.

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Devices powered by harvested energy are used in industrial applications, building and home automation, consumer electronics, and wearable devices. The conventional cabling systems for sensor networking require a lot of time for installation and also incur high costs due to the wiring. Portable power equipment such as lithium-ion, magnesium-ion, and lead-acid batteries have a short lifespan and are more prone to damage. Research has proven that it is possible to increase the energy density in lithium-ion batteries through paper folding techniques; however, it increases the risk of explosion if the temperature rises above the threshold due to overcharging. On the other hand, by harvesting a small amount of wasted energy, an increase in equipment uptime can be witnessed without using any battery as a primary power source.
Energy harvesting requires no external electricity to charge the device. Thus, there is no need to power the device externally, either by cables or by portable batteries, which consequently reduces the maintenance cost and saves the overall operating cost. Several companies are working on enhancing energy harvesting technology to reduce the cost of the devices and save energy. EnOcean (Germany) installed several wireless and self-powered switches that save 40% of the energy cost by automatically controlling the lighting in buildings. Since there is no need for additional battery; no replacements or maintenance is required. Perpetuum (UK) manufactures electrodynamic vibration harvesters, which are used for powering systems and extending their lifespan to 18 to 20 years owing to the absence of batteries.
Energy harvesting system market is used in low-power applications in several mobile and portable markets such as medical equipment, transportation, and the military. These systems are also deployed in applications that require a backup battery, especially if the battery is remotely located or deployed at a difficult place to reach. The transmitters and receivers used in these energy harvesting systems have to be installed in proximity of each other for better signal transmission. When the sensor devices are deployed at remote locations, it is difficult to collect data at the central receiver. The transmission signal has to travel a long distance before reaching the central receiver. This problem can be overcome to some extent using a wireless mesh network in which each system node transmits its data as well as forwards the data received from another node.

The applications of energy harvesting systems in small consumer electronics are being looked upon as a good opportunity for investment. Wearable watches are one of the opportunities for sensors to be used in applications such as activity monitoring and healthcare. For example, STMicroelectronics’ accelerometer sensors are used in the Pebble smartwatch. The scientists led by YaYang at the Beijing Institute of Nanoenergy and Nanosystems in China and ZhongL in Wang at the Georgia Institute of Technology in the US have developed a hybridized nanogenerator to power a wristwatch and other wearable electronic devices. Sensors require a long-lasting power supply for delivering efficient output. Hence, the adoption of energy harvesting systems in wearable electronics for sensors is increasing.
The major players in the energy harvesting system market are ABB (Switzerland), Linear Technology (US), Convergence Wireless (US), Cymbet (US) and EnOcean (Germany).

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