San Francisco, June 06, 2016 (GLOBE NEWSWIRE) -- Energy harvesting is the process of harnessing the energy surrounding the environment and converting it to electricity for small and mid-sized devices. The ambient energy includes chemical, wind, and solar energy.
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Energy harvesting devices help in storing energy which can be used to charge solar-powered mobile phones, wireless sensor nodes, etc. This makes these devices reliable and efficient. Some energy harvesting devices are wind generators and solar panels. Other small-scale methods to store energy include electrodynamic, thermodynamic, piezoelectric, and photovoltaic, light, vibration and fluid harvesting. Light energy harvesting was popular in 2013.
The energy harvesting devices market is projected to grow at a 17% CAGR over the forecast period (2013-2018). The current trend to reduce carbon emissions will benefit the market growth in the long run. End-users of the market include wristwatches, military and aerospace, and consumer electronics.
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Energy harvesting can be used to provide electricity in emerging economies. This could aid people in remote countries as well as positively impact the environment. Energy harvesting has decided to invest in wireless sensors which capture energy from minute vibrations.
Consumers have become energy-conscious and wish to save energy. This trend will continue to attract consumers towards the market in the coming future. Innovative technologies like ocean energy harvesting can create market growth opportunities.
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Regions of interest to the market include Asia Pacific (APAC), Americas, and EMEA (Europe, Middle East & Africa). Europe is predicted to be the largest market on account of favorable environmental regulations and policies. North America and APAC will witness considerable growth over the coming years. Investments by the US Department of Energy and other European associations will benefit the market in the future.
Some of the key players of the energy harvesting devices market are Texas Instruments Inc., Perpetuum Ltd., Linear Technology Corp., and Microchip Technology Inc.
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