Dallas, TX -- (ReleaseWire) -- 04/11/2014 -- According to a new market research report, “Energy Harvesting Market- Global Forecast and Analysis (2012-2017) By Technology, Application & Geography), the total market is expected to reach $1894.87 million by 2017, at a CAGR of 24.31%.
Global energy harvesting market is expected to reach $1894.87 million by 2017, at an estimated CAGR of 24.31%. Europe is leading the total energy harvesting technology market; followed by North America and APAC. In the market of ROW, Middle East, and Africa are the largest contributors.
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Energy harvesting is a process of collecting the ambient energy available in nature in ample form. It is also known as Energy scavenging. Energy harvesting is normally used in charging up the low power devices such as mobile, watches, MP3 players, and other low power devices. There are several types of energy harvesting technologies covered in this report such as light energy harvesting, thermoelectric, vibration, electromagnetic, fluid, motion, and other types of harvesting like RF and bio. Of all the energy harvesting, light energy harvesting accounted for the largest percentage share, due to wide usage of solar energy harvesting.
This report covers the energy harvesting applications market, which comprises consumer electronics, industrial, building and home automation, military, aerospace, wireless sensor network, automotive, bicycle dynamo, and others. Consumer electronics includes watches, mobile, laptop, mp3 player, and other devices. Consumer applications accounted for the largest percentage share in 2011 and expected to remain on top in future. Battery replacement is the biggest factor; due to which energy harvesting is the most popular technology for consumer applications.
The major driving factors of energy harvesting market are high penetration markets such as low power portable devices, building and home automation, energy saving technology, change in technology trends and increasing government support. Change in technology trends depicts the change in battery trends, as battery replacement is one of the major benefits of energy harvesting technology. There are some hindrances for this market like high initial cost and lack of awareness amongst industry and consumers. This report also briefs about the winning imperative and burning issue of energy harvesting market.
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Energy harvesting is the process of collecting the ambient energy from the surroundings like light, heat, vibration, and electromagnetic radiation, and converting it into usable electrical energy for power portable electrical devices; this can be done without using the batteries. This technology efficiently collects the ambient energy that we usually discard and merits a lot of attention. It is also known as energy scavenging or power scavenging. Energy harvesting market covers the various sources of energy harvesting that are used by the energy harvesting technologies.
Energy harvesting technology is the simple process of converting ambient energy into usable electric energy. The environmental and economic costs of changing and maintaining batteries for portable devices will not be endured indefinitely. Energy harvesting technology gives rise to the battery replacement concept, which has became necessary in the present scenario in order to save the electricity, battery maintenance issues, and other operating cost. Consumer products such as laptops, watches, and mobile phones are already being powered by this technology. The continuous search for an electrical outlet to power or recharge devices is the real concern in the present scenario. Energy harvesting reduces dependence on battery power. Harvested ambient energy may be adequate to eliminate battery. The device can be powered only from by the harvester and rely on internal energy storage to level out variations in available ambient energy.
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