Energy Harvesting Market Segments and Key Trends 2014-2020

Energy harvesting, one of the most promising technologies to address the energy crises without altering the existing energy sources, is foreseen to witness staggering demand and innovation in the near future. The process of energy harvesting harnesses the power of ambient energy to use later in varied applications. With growing use of ambient energy and advent of the energy harvesting technology, the energy harvesting market is currently heading at a considerable pace globally.

FMI’ extensive research indicates that the global energy harvesting market is anticipated to gain momentum and grow at a double-digit CAGR by 2020 end. A number of newly innovated efficient energy applications and widespread acceptance of renewable energy sources are expected to play a vital role in the growth of the global energy harvesting market during the forecast period 2014-2020.

Key Drivers: Energy Harvesting Market

During the past decade, there has been growing demand for safe, power efficient, and enduring systems, which require minimum or no maintenance. This is a major driver of market growth, expected to continue pushing the demand for devices based on the energy harvesting technology. Growing applications of the energy harvesting technology in building and home automation is another key driver to the market growth.

Moreover, industrial WSN demand energy harvesting on a large scale, which is expected to continue during the forecast period as well. The green energy trend is effectively governing the market, while favourable initiatives by various governments are also boosting the market on a global level.

Abundance of renewable energy sources, including tidal, wind, and ocean energy provide a dependable platform for the innovation of energy harvesting applications. This is also an influential factor contributing to the growth of market.

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