The global energy harvesting market has been forecast to increase at a compound annual growth rate (CAGR) of 43.2% over the next five years, increasing from a valuation of $514 million in 2012, to be worth a market value of $3.1 billion in 2017.
In developing economies, it is necessary to curb on the increasing operating cost and other energy-related costs in order to utilise the natural resources and reduce the overall cost. It has become mandatory to harvest the ambient energy available at a free scale and extract it for commercial applications. Thus, energy harvesting is becoming the crucial technique to harvest the ambient energy.
The major driving factors for energy harvesting market are energy saving, increasing government support, and changing technology trends.
The Americas are expected to have a value of $253 million in 2012 and $1.4 billion in 2017, a CAGR of 40.8%. As a segment, EMEA (Europe, the Middle East and Africa) should total $113 million in 2012 and $670 million in 2017, a CAGR of 42.8%.
In the present scenario, energy harvesting can be useful in various application areas such as consumer electronics, industrial, building and home automation, military and aerospace, wireless sensor networks (WSN), automotive, and bicycle dynamo.
Consumer electronics are widely exposed to energy harvesting technologies. Energy harvesting techniques are used to charge up devices such as mobiles, watches, and mp3 players.
Although energy harvesting is often described as a 'battery-less' technology, in reality, in many applications energy harvesting will be used to run devices when they can, but then need to store excess energy for later use. Both primary and especially rechargeable batteries are seen as a concurrent and critical market with energy harvesting solutions.
For more information on the energy harvesting market, see the latest research: Energy Harvesting Market
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