Energy Harvesting System for Wireless Sensor Network Market Size Forecast to Reach $2.12 Billion by 2026

(EMAILWIRE.COM, January 23, 2022 ) The Energy Harvesting System for Wireless Sensor Network Market size is forecast to reach $2.12 billion by 2026, growing at a CAGR of 18.1% in the period 2021-2026. In order to address the challenge of the significantly lower power density of the Wireless Sensors, the state-of-the-art Energy Harvesting System is the convenient way to offer reliable stable power for long term. The growth of the Energy Harvesting System for Wireless Sensor Network Market is primarily driven by the widespread application of diversified wireless temperature sensors, level sensors and pressure sensors in industrial sectors as well as the growing implementation of IoT solutions for building and home automation. In addition, the energy harvesting solutions are extensively used in various industry verticals, including automotive, medical equipment, consumer devices and military for aiming for safe, durable and power-efficient systems, which again prove to be the major opportunity for the growth of Energy Harvesting System for Wireless Sensor Network Industry. Therefore, the rising adoption of wireless sensor networks equipment, such as Power management integrated circuits and robust capacitive sensors, along with increasing trend of green energy initiatives for an efficient alternative, are some of the key factors that are promoting growth of the Radio Frequency (RF) Energy Harvesting System for Wireless Sensor Network Market.

Energy Harvesting System for Wireless Sensor Network Market Segment Analysis – By Application

By Application, the Energy Harvesting System for Wireless Sensor Network Market is segmented into Fire Protection System, HVAC Control System, Lighting Control System, Security and Access Control System, Smart Meter System and others. The Lighting Control System is estimated to grow at the highest CAGR of 8% during the forecast period 2021-2026. The escalating demand for energy efficient solutions, introduction of sophisticated wireless technologies for home automation and smart home solutions with integrated lighting technologies are some of the factors that are driving the growth of the market. In December 2019, Arrow Electronics, Inc. decided to add EnOcean’s patented energy-harvesting wireless technology to Arrow’s portfolio. The significant decision is designed to incorporate EnOcean’s Internet of Things (IoT) solutions with Arrow’s end-to-end IoT offering, which includes field-proven energy-harvesting technology for self-powered wireless sensor solutions to denote maintenance-free applications across LED lighting control and other industrial automation. In fact, a growing number of industry players are investing for thermoelectric generators, home automation and various other consumer electronics, specifically in solar energy sectors are attributing the market growth. In February 2021, Swedish start-up Epishine unveiled a semi-transparent organic solar module, which is designed for applications in consumer electronics, sensors and other low-power devices, to reduce the battery requirements. The ultralight panel of Epishine is equipped with Light Energy Harvesting (LEH) technology for powering indoor illumination. Therefore, the growing emergence of Photovoltaic energy solution, and other enabled applications contribute to the growth of the Energy Harvesting System for Wireless Sensor Network Market.

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Energy Harvesting System for Wireless Sensor Network Market Segment Analysis – By Industry Verticals

By Industry Verticals, the Energy Harvesting System for Wireless Sensor Network Market is segmented into Consumer Electronics, Building and Home Automation, Manufacturing, Aerospace, Automotive, Transportation & Logistics, Medical & Healthcare, Government and Others. The Building and Home Automation sector held the highest share of 38 % in 2020, owing to the rapid emergence of energy-driven consumer electronic devices and growing installation of sensor-based technologies for energy-efficient power systems. In April 2021, a leading provider of battery and power management, Wi-Fi®, Bluetooth® low energy (BLE) and Industrial edge computing solutions, Dialog Semiconductor plc launched the AT25EU family ofSPI NOR Flash devices. The AT25EU offers respective development of power-conscious, size-constrained connected devices for fast operation at limited energy. Furthermore, the growing awareness for comfortable and safe living, along with potential energy saving solutions drive the market demand. In May 2020, Massachusetts-based Smart home company Savant signed a strategic partnership with GE Lighting for incorporating advanced solutions of Savant with GE Lighting’s legacy for enhanced smart home solutions. Therefore, these factors are significantly driving the Energy Harvesting System for Wireless Sensor Network Market.

Energy Harvesting System for Wireless Sensor Network Market Segment Analysis – By Geography

North America is estimated to be the major region with a share of 41% in 2020 for the Energy Harvesting System for Wireless Sensor Network Market. The growth of the market in this region is due to the significant investment for developing breakthrough low-energy consumption solutions and high-performance industrial wireless applications, along with the growing introduction of 5G IoT products. In addition, the early implementation of IoT in the industrial automation sectors, in reference to smart meters, connected cars, wearable and consumer electronics is estimated to drive the market growth extensively. In September 2020, an innovator in ultra-low-power wireless technology for the Internet of Things (IoT), Atmosic signed partnership with SMK, a global designer and manufacturer of advanced OEM electronic components to bring forever-battery life to IoT devices. Furthermore, the potential demand for power monitoring for IoT devices leads many semiconductor industry players to design a commercial solution to resolve such issues. In February 2021, Xidas introduced EHM-UNIV, industry’s first plug & play, universal energy harvesting, and power management module for IoT devices. Thus, the exponential demand for practical energy harvesting solutions, such as maximum power point tracking and external power engineering for wireless IoT devices without batteries accelerate the growth of the Energy Harvesting System for Wireless Sensor Network Market.

Energy Harvesting System for Wireless Sensor Network Market Drivers

Growing demand for power-efficient IoT devices for automation

The increase in demand for power-efficient IoT devices for automation across various industry sectors is estimated to drive the Energy Harvesting System for Wireless Sensor Network Market. Consequently, the penetration of energy harvesting technology providers is also emphasizing the market growth due to growing awareness towards renewable and eco-friendly energy sources. In December 2020, Hydro-Québec launched EVLO Energy Storage Inc. (EVLO), a subsidiary that is developed to denote designs, sells, and operates safe, efficient and sustainable energy storage systems to the commercial and industrial markets. The energy storage system is built to provide a wide variety of needs of power producers, transmission providers and distributors. Hence, the introduction of advanced energy harvesting technique contributes to the growth of the Energy Harvesting System for Wireless Sensor Network Market.

Growing Popularity for Smart Wearable

The growing demand for Smart Wearable, infused with efficient solar components to minimize electricity usage has influenced the growth of the Energy Harvesting System for Wireless Sensor Network Market. In July 2020, Sports watch manufacturer Garmin launched Solar Edition smart watches, known as the Fenix 6 Pro Solar and Fenix 6S Pro Solar watches that get charged while the users are outdoors. The rapid deployment of smart solar solutions influences the design of various smart wearable and other IoT devices to function with an extended longtime service. In January 2021, Iridium Communications Inc. announced commercial availability of the Iridium Edge Solar – a secure, maintenance-free, solar-powered remote asset tracking and affordable management device. Iridium Edge Solar offers tracking of freight shipping containers, Vessel Monitoring Systems (VMS), fisheries management, Supervisory Control and Data Acquisition (SCADA) applications. Thus, the growing deployment of reliable, solar-powered asset-tracking devices, Smart Wearable and other IoT devices are inducing the growth of the Energy Harvesting System for Wireless Sensor Network Market.

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Energy Harvesting System for Wireless Sensor Network Market Challenges

Limited awareness towards Energy Harvesting solution

The limited awareness towards Energy Harvesting solutions irrespective of a wide range of ultra-low power solutions and energy-efficient power systems is the major drawback for the growth of the market. The introduction of devices based on harvested energy is not very familiar to many consumers and thus, it acts as a key hindrance to the growth of the Energy Harvesting System for Wireless Sensor Network Market.

Energy Harvesting System for Wireless Sensor Network Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Energy Harvesting System for Wireless Sensor Network Market. The Energy Harvesting System for Wireless Sensor Network Market top 10 companies include Arveni, Convergence Wireless, Cymbet Corporation, Powercast Corporation, Texas Instruments Incorporated, Fujitsu Limited, ABB Ltd., Honeywell International Inc., STMicroelectronics N.V., EnOcean GmbH and among others.

Partnerships/Product Launches/Contracts

In September 2019, Honeywell signed an agreement with NRStor C&I L.P. (“NRStor”) to launch the Experion® Energy Program, to create the largest behind–the-meter (BTM) energy storage deployment in North America. The strategic acquisition further offers energy storage as a service to commercial as well as industrial customers with enhanced sustainability and resiliency.

In June 2019, Cymbet unveiled the next-generation power management/real-time clock family product, specifically designed for EnerChip solid-state rechargeable micro-battery. The latest product provides an ultra-low-power real-time clock with power management and power switching capabilities, optimized to denote advanced applications, such as semiconductor processes and support energy harvesting in including battery-less sensors and wearable sensors.

Key Takeaways

North America is estimated to be the major region with a share of 41% in 2020 for the Energy Harvesting System for Wireless Sensor Network Market owing to the significant investment for developing breakthrough low-energy consumption solutions and high-performance industrial wireless applications.

The increase in demand for power-efficient IoT devices for automation across various industry sectors is estimated to drive the Energy Harvesting System for Wireless Sensor Network Market.

The Building and Home Automation sector held the highest share of 38 % in 2020, owing to the rapid emergence of energy-driven consumer electronic devices and growing installation of sensor-based technologies for energy-efficient power systems.

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