Energy harvesting system market is expected to be valued at $645.8 million by 2023, growing at a CAGR of 10.62% between 2017 and 2023. Building and home automation application to hold the largest share and Light energy harvesting technology is expected to grow at the highest rate during forecast period
The overall energy harvesting system market is expected to be valued at USD 645.8 million by 2023, growing at a CAGR of 10.62% between 2017 and 2023. The growing demand for safe, power-efficient, and durable systems that require minimum or no maintenance and extensive implementation of IoT devices in automation and energy harvesting technology in building and home automation are expected to generate a higher demand for energy harvesting systems. The key restraining factors for the growth of the energy harvesting system market are limitations of remotely installed networking modules and higher initial cost associated with energy harvesting systems curtails the market growth in developing countries.
The report also profiles the key players in this market: ABB Limited (Switzerland), Arveni (France), Convergence Wireless (US), Cymbet Corporation (US), EnOcean GmbH (Germany), Fujitsu Limited (Japan), Honeywell International Inc. (US), Microchip Technology Inc. (US), STMicroelectronics (Switzerland), and Texas Instrument Incorporated (US).
- The building and home automation application to hold the largest share of the energy harvesting system market during the forecast period
- Light energy harvesting technology is expected to grow at the highest rate during the forecast period
- The Americas to hold the largest share and is expected to witness the highest growth in the energy harvesting system market
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews have been conducted with key people in the energy harvesting system market.
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