Global Energy Harvesting Devices market is expected to grow at a CAGR of 22.0% in terms of revenue over the forecast period 2015 to 2022. Energy harvesting devices utilize natural resources such as wind, water, air and sun to generate electrical energy, which reduces the emission of greenhouse gases. The amount of energy generated by the devices is small, but it can be used for applications with low power consumption. The increasing demand for energy, rapidly growing consumer electronics market, government support and technological development are the key driving factors for the market growth. Limited number of applications is the critical challenge for this market.
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The increasing demand for energy harvesting devices in consumer electronics is one of the key driving factors that will stimulate the market in the coming years. Majority of consumer electronic products run on batteries or external power supply that must be charged frequently. Energy harvesting devices allow electronic products to work as contactless charging devices.
Some of the key players in global market include Texas Instruments, Schneider Electric, Microchip Technology, EnOcean, Lord Corp., Cymbet, Linear Technology, Infinite Power Solutions, Perpetuum, IMEC Holst, Levant Power, GreenPeak Technologies, Micropelt, G24i Power and Sol-Chip.
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