The global market for energy harvesters is expected to reach $3.3 billion by 2020
Wellesley, Mass. (PRWEB) September 14, 2015
Technological advancements and an increasing number of applications are driving growth in the energy harvesting market. BCC Research reveals in its new report that energy harvesting is poised for high double-digit growth over the forecast period, 2015-2019, owing partly to an increased use of nonconventional materials in mainstream semiconductor fabrication technologies.
The global market for energy harvesters reached $880 million in 2014. This market should reach $1.1 billion in 2015 and $3.3 billion by 2020, reflecting a five-year compound annual growth rate (CAGR) of 23.9%.
The Americas region, the largest energy harvester market, should total $542 million and $1.5 billion in 2015 and 2020, respectively, reflecting a CAGR of 22.7%. The Asia-Pacific (APAC) region should reach $268 million and $1.1 billion in 2015 and 2019, respectively. Demonstrating a CAGR of 25.6%, APAC represents the fastest-growing segment.
Energy harvesting is a process that captures small amounts of energy from ambient energy sources, accumulates them and stores them for later use. This report examines non-grid-connected applications, and excludes power plants that use sources such as solar, wind and hydroelectric.
Technological advancements and an increasing number of new applications are driving market growth. Some of these technological advancements have been improvements in existing technologies, while new technologies have been developed. Governments, acting global consensus an imminent energy crisis looms, are exploring and commercializing nonconventional energy sources with unprecedented vigor.
For example, the development of compact devices in the mainstream semiconductor chipset domain has reached nonconventional materials. Energy harvesters since designers are now able to design compact energy-conversion and power management circuitry, creating an unprecedented range of application possibilities.
“The technology behind thermal energy harvesting is not new. However, its integration with electronic device manufacturing processes has been a challenging task, as it involves balancing desirable attributes such as compactness, portability, and power management on the one hand with design limitations imposed by heat transfer and handling considerations on the other,” says BCC Research analyst Shalini R. “It is therefore not surprising that a substantial quantum of effort by major semiconductor players under the heading of power management deals with thermal energy harvesters.”
Global Markets, Technologies and Devices for Energy Harvesting (EGY097B) examines the global markets, technologies and devices for energy harvesting. The report includes projected trends, revenue and CAGR s through 2020.
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About BCC Research
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