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Energy Harvesting Devices Market by Technology, Application, and Geography - Forecast and Analysis 2021-2025

  • Published: May 2021
  • Pages: 120
  • SKU: IRTNTR70580
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The energy harvesting devices market share is expected to increase by USD 595.34 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 17%.

This energy harvesting devices market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers energy harvesting devices market segmentation by technology (thermoelectric, piezoelectric, photovoltaic, electrodynamic, and others), application (building and home automation, industrial, consumer electronics, defense, and others), and geography (Europe, North America, APAC, MEA, and South America). The energy harvesting devices market report also offers information on several market vendors, including Analog Devices Inc., Cymbet Corp., EnOcean GmbH, Fujitsu Ltd., Honeywell International Inc., Microchip Technology Inc., Parker Hannifin Corp., Powercast Corp., STMicroelectronics NV, and Texas Instruments Inc. among others.

What will the Energy Harvesting Devices Market Size be During the Forecast Period?

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Energy Harvesting Devices Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The rapid growth of the internet of things (IoT) is notably driving the energy harvesting devices market growth, although factors such as US-China trade war may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the energy harvesting devices industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Energy Harvesting Devices Market Driver

One of the key factors driving growth in the energy harvesting devices market is the rapid growth of the Internet of Things (IoT). The IoT is a system of interrelated devices or things that are embedded with electronics, software, sensors, and network connectivity. The IoT technology enables an Internet-connected device to use sensors and actuators to collect, record, and transmit data to other computing devices on a real-time basis. The demand for these IoT devices is primarily driven by developments in wired and wireless communication technologies, telecommunication standards, human-machine interface (HMI) technologies, and initiatives taken by governments worldwide to implement advanced technology-driven systems and solutions to improve their operational efficiency. The robust growth of IoT in all key geographies is increasing the demand for IoT chipsets for integration with IoT devices. This, in turn, is driving the demand for energy harvesting devices that enhance the functionality of IoT devices by offering them uninterrupted power without harming the environment.

Key Energy Harvesting Devices Market Trend

The growing popularity of smart wearables is another factor supporting the energy harvesting devices market share growth. Wearable devices, which include smart fabrics, smartwatches, heart rate monitors, fitness bands, and smart glasses, monitor the fitness levels of users while offering various other benefits to them. This technology has been gaining a lot of traction across all key regions worldwide. Companies such as Samsung Electronics Co. Ltd. (Samsung Electronics) and Apple Inc. (Apple) offer a wide range of wearables, such as health bands, fitness trackers, and smartwatches, which can track all the vital statistics of the wearer. The continuous increase in the penetration of these solutions among customers is opening doors to immense growth opportunities for players in the global energy harvesting devices market. Many other companies, which see immense growth potential in this product segment, are also entering the market. This is expected to fuel the growth of the global energy harvesting device market during the forecast period.

Key Energy Harvesting Devices Market Challenge

The US-China trade war will be a major challenge for the energy harvesting devices market during the forecast period. The global semiconductor industry has been significantly impacted by the ongoing trade war between the US and China. The US and China are two of the strongest economies in the world, and disruptions that the trade war has had among businesses in these countries are being felt by many other countries worldwide. The imposition of steep tariffs on many goods and services by both countries has been making it difficult for business owners to operate in these countries. As electronic components have also witnessed an increase in tariffs, their higher average selling price (ASP) has led to a rise in the final price of the solutions in which these components are used. These issues are adversely affecting the demand for energy harvesting devices manufactured in both countries.

This energy harvesting devices market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global energy harvesting devices market as a part of the global renewable electricity market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the energy harvesting devices market during the forecast period.

Who are the Major Energy Harvesting Devices Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Analog Devices Inc.
  • Cymbet Corp.
  • EnOcean GmbH
  • Fujitsu Ltd.
  • Honeywell International Inc.
  • Microchip Technology Inc.
  • Parker Hannifin Corp.
  • Powercast Corp.
  • STMicroelectronics NV
  • Texas Instruments Inc.

 

This statistical study of the energy harvesting devices market encompasses successful business strategies deployed by the key vendors. The energy harvesting devices market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Analog Devices Inc. - The company offers a wide range of ultra low power ICs for energy harvesting applications. Power management products that convert energy from vibration (piezoelectric), photovoltaic (solar), and thermal (TEC, TEG, thermopiles, thermocouples) sources provide high efficiency conversion to regulated voltages or to charge batteries and super capacitor storage elements.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The energy harvesting devices market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Energy Harvesting Devices Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the energy harvesting devices market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the renewable electricity market includes the following core components:

  • Inputs
  • Electricity generation
  • Electricity transmission
  • Electricity distribution
  • End-users
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Energy Harvesting Devices Market?

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34% of the market’s growth will originate from Europe during the forecast period. Germany, UK, and The Netherlands are the key markets for energy harvesting devices in Europe. Market growth in this region will be faster than the growth of the market in the South American and MEA regions.

The growth of smart factories will facilitate the energy harvesting devices market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The regional market was adversely affected by the COVID-19 pandemic in 2020. To curb the spread of the pandemic, governments across the region imposed nationwide lockdowns. Manufacturing facilities were severely affected by the pandemic. Disruptions in activities across end-user industries of energy harvesting devices adversely affected the demand for these solutions. However, the focus of governments on reviving industrial growth is expected to give impetus to the sales of energy harvesting devices in 2021 and lead to positive growth of the regional market until 2025.

What are the Revenue-generating Technology Segments in the Energy Harvesting Devices Market?

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The energy harvesting devices market share growth by the thermoelectric segment will be significant during the forecast period. The growing development of a wide range of robust and economically viable thermoelectric energy harvesting systems has been contributing to limiting the dependency on fossil fuels by increasing the efficiency of both power-producing and power-consuming systems. This is driving the growth of the market in focus in this segment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the energy harvesting devices market size and actionable market insights on post COVID-19 impact on each segment.

 

Energy Harvesting Devices Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 17%

Market growth 2021-2025

$ 595.34 million

Market structure

Fragmented

YoY growth (%)

15.92

Regional analysis

Europe, North America, APAC, MEA, and South America

Performing market contribution

Europe at 34%

Key consumer countries

US, Germany, China, UK, and The Netherlands

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Analog Devices Inc., Cymbet Corp., EnOcean GmbH, Fujitsu Ltd., Honeywell International Inc., Microchip Technology Inc., Parker Hannifin Corp., Powercast Corp., STMicroelectronics NV, and Texas Instruments Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Energy Harvesting Devices Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive energy harvesting devices market growth during the next five years
  • Precise estimation of the energy harvesting devices market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the energy harvesting devices industry across Europe, North America, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of energy harvesting devices market vendors

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Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Building and home automation - Market size and forecast 2020-2025
  • Industrial - Market size and forecast 2020-2025
  • Consumer electronics - Market size and forecast 2020-2025
  • Defense - Market size and forecast 2020-2025
  • Others - Market size and forecast 2020-2025
  • Market opportunity by Application

Market Segmentation by Technology

  • Market segments
  • Comparison by Technology
  • Thermoelectric - Market size and forecast 2020-2025
  • Piezoelectric - Market size and forecast 2020-2025
  • Photovoltaic - Market size and forecast 2020-2025
  • Electrodynamic - Market size and forecast 2020-2025
  • Others - Market size and forecast 2020-2025
  • Market opportunity by Technology

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe - Market size and forecast 2020-2025
  • North America - Market size and forecast 2020-2025
  • APAC - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Analog Devices Inc.
  • Cymbet Corp.
  • EnOcean GmbH
  • Fujitsu Ltd.
  • Honeywell International Inc.
  • Microchip Technology Inc.
  • Parker Hannifin Corp.
  • Powercast Corp.
  • STMicroelectronics NV
  • Texas Instruments Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The energy harvesting devices market growth will increase by $595.34 million during 2020-2025.
The energy harvesting devices market is expected to grow at a CAGR of 17.21% during 2020-2025.
Technavio has segmented the energy harvesting devices market by technology (Thermoelectric, Piezoelectric, Photovoltaic, Electrodynamic, and Others) ,application (Building and home automation, Industrial, Consumer electronics, Defense, and Others) , and geographic (Europe, North America, APAC, MEA, and South America).
Analog Devices Inc., Cymbet Corp., EnOcean GmbH, Fujitsu Ltd., Honeywell International Inc., Microchip Technology Inc., Parker Hannifin Corp., Powercast Corp., STMicroelectronics NV, Texas Instruments Inc. are a few of the key vendors in the energy harvesting devices market.
Europe will register the highest growth rate of 34.32% among the other regions. Therefore, the energy harvesting devices market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the energy harvesting devices market growth are:
  • Rapid growth of the Internet of Things (IoT)
The energy harvesting devices market vendors should focus on grabbing business opportunities from the thermoelectric segment as it accounted for the largest market share in the base year.
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