Micro-energy Harvesting System Market Analysis by Light, Vibration, and Magnetic Energy Harvesting Technology, 2024 to 2034
From Medical Implants to Wearable Electronic Devices, Micro-energy Harvesting Systems Turn Out to be a Universal Commodity
Micro-energy Harvesting System Market Outlook from 2024 to 2034
The global Micro-Energy Harvesting System Market reached USD 228.9 million in 2023. Over the forecast period, demand for micro-energy harvesting systems is anticipated to rise at 11.9% CAGR. The market is expected to increase from USD 256.2 million in 2024 to USD 788.5 million in 2034.
Attributes
Key Insights
Base Value, 2023
USD 228.9 million
Estimated Micro-Energy Harvesting System Market Size (2024)
USD 256.2 million
Projected Micro-Energy Harvesting System Market Revenue (2034)
USD 788.5 million
Value-based CAGR (2024 to 2034)
11.9%
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Key Micro-energy Harvesting System Market Highlights
Market to Expand Over 2.1x through 2034
The global micro-energy harvesting system market is predicted to expand by over 2.1x through 2034. Materials science and engineering advances are critical in improving the efficiency and scalability of micro-energy harvesting systems.
Researchers and manufacturers are constantly inventing new materials and technologies to collect energy from several environmental sources better.
It is boosting the potential uses and commercial reach of micro-energy harvesting system devices.
Growing emphasis on sustainability and energy efficiency encourages using micro-energy collecting devices as viable alternatives to existing power sources. These technologies offer economic and environmental advantages by utilizing renewable energy sources, reducing reliance on non-renewable resources, and carbon emissions.
Developing IoT devices and smart systems opens up new potential for micro-energy harvesting system market growth.
As the number of connected devices grows, there is a greater need for compact and self-sustaining power solutions. These are expected to help to support their operations, driving demand for micro-energy harvesting system technology.
Historical Micro-energy Harvesting System Market Growth Outlook
The global micro-energy harvesting system market grew at a CAGR of 7.2% between 2019 and 2023.
Historical CAGR (2019 to 2023)
7.2%
Forecast CAGR (2024 to 2034)
11.9%
The micro-energy harvesting system market has grown steadily, driven by rising demand for sustainable power solutions across several sectors.
Rising applications of micro-energy harvesting systems in consumer electronics, healthcare, industrial automation, IoT, and government significantly accelerated growth.
By 2034, companies began commercializing micro-energy harvesting solutions for several industries, driven by increasing demand for energy-efficient devices and technological advancements.
Governments and regulatory bodies were promoting the adoption of micro-energy harvesting as a green technology solution due to environmental sustainability and energy efficiency concerns.
In the forecast period, the worldwide micro-energy harvesting system industry is set to thrive at a CAGR of 11.9%.
Ongoing research & development activities are projected to improve micro-energy harvesting system devices' efficiency, scalability, and reliability.
Innovations in materials research, device design, and integration techniques are set to enhance energy capture and conversion processes. It is set to make these solutions more viable and appealing for multiple applications.
Companies and consumers increasingly seek ways to lower their carbon footprint and rely less on non-renewable energy sources, creating a favorable market situation for micro-energy harvesting system devices.
Micro-energy harvesting system technologies provide a cost-effective and environmentally responsible way to power these devices, accelerating growth in the IoT industry.
Advancements in healthcare, industrial automation, and consumer electronics industries are expected to open up new markets for micro-energy harvesting system applications.
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Key Market Dynamics
Increasing Emphasis on Sustainability and Energy Efficiency
Growing focus on sustainability and energy efficiency are expected to drive the micro energy harvesting industry. Rising demand for energy-efficient solutions, driven by environmental concerns, necessitates the adoption of micro energy harvesting technologies as sustainable alternatives to traditional power sources.
Micro energy harvesting systems convert ambient energy into electrical power, reducing pollution & carbon emissions and lowering reliance on harmful fossil fuels.
Adoption of Micro-energy Harvesting Technologies in Consumer Electronics
Energy harvesting capabilities are becoming increasingly ingrained in consumer electronics as manufacturers respond to consumer requests for sustainability, longer battery life, and enhanced convenience. Increasing popularity of portable electronics like smartphones, smartwatches, fitness trackers, and wireless earphones is a key driver propelling this adoption.
Key Factors Restraining Micro-Energy Harvesting System Market Growth
Micro-energy harvesting systems are expected to be costly due to the initial expenses of sensors, transducers, and electronics, potentially hindering their adoption in situations of cost concern.
Developing and integrating effective energy harvesting technologies face technical challenges such as optimizing energy conversion efficiency, reducing losses, and ensuring compatibility with the intended application.
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Country-wise Insights
The table below shows the estimated growth rates of several countries in the market. India, China, and the United States are set to record high CAGRs of 8.5%, 8%, and 7.1% respectively, through 2034.
Countries
Projected CAGR (2024 to 2034)
India
8.5%
China
8%
United States
7.1%
United Kingdom
6.8%
Germany
6.5%
Increasing Use of IoT Devices to Boost Demand in the United States
The United States micro-energy harvesting system industry is poised to exhibit a CAGR of 7.1% during the assessment period.
Regulations and programs launched by the United States government to support sustainability and renewable energy are driving expansion of the micro-energy harvesting system market.
Venture capital investments and government assistance for research & development activities are expected to help expedite innovation and commercialization efforts in the market.
Advancements in Energy Harvesting Technologies Propelling Demand in China
Demand for micro-energy harvesting systems in China is anticipated to rise at a steady CAGR of 8% during the forecast period. This is attributable to a combination of factors, including:
China benefits from a significant demand for micro-energy harvesting system solutions across industries such as healthcare, automotive, aerospace, consumer electronics, and industrial automation.
The country's technologically advanced and innovation-driven economy creates a conducive environment for adopting cutting-edge technologies, driving the uptake of micro-energy harvesting system devices and systems.
Growing Demand for Energy-efficient Energy Sources to Surge Sales in India
India is expected to surge at a CAGR of 8.5% through 2034. Top factors supporting the market expansion in the country include:
Partnerships among research institutions, technology firms, and government agencies accelerate advancements in micro-energy harvesting systems.
Partnerships and collaborates facilitate knowledge exchange, joint research projects, and technology transfer.
Rising Government Investment in Germany Paving the Road for Market Success
The micro-energy harvesting system market is projected to increase in Germany at a CAGR of 6.5% through 2034.
Government initiatives, grants, and financing programs are supporting companies and academic institutions in developing micro-energy harvesting devices.
They are promoting Germany’s research, development, and commercialization.
Growing Collaboration Amid Industry Players Upscaling the United Kingdom
Demand for micro-energy harvesting systems is increasing in the United Kingdom, with a projected CAGR of 6.8% through 2034. Emerging patterns in the United Kingdom market are as follows:
The United Kingdom is accelerating the development and adoption of micro-energy harvesting systems through collaborations among industry players, academic institutions, research organizations, and government agencies.
Category-wise Insights
The section below shows the light energy harvesting segment dominating based on technology. It is forecast to thrive at 9.2% CAGR between 2024 and 2034. Based on end-use, the consumer electronics segment is anticipated to thrive at a CAGR of 9.1% during the forecast period.
Light Energy Harvesting Remains Highly Sought-after Technology
Top Segment (Technology)
Light Energy Harvesting
Predicted CAGR (2024 to 2034)
9.2%
Light energy harvesting is expected to dominate the micro-energy harvesting system market due to its adaptability, quantity, and efficiency.
Unlike other ambient energy sources such as vibration or temperature differentials, light energy is readily available in indoor and outdoor situations, making it ideal for powering several devices.
Advances in photovoltaic technology are substantially increasing the efficiency of light energy harvesting, allowing for high-yield conversion of light into electrical power.
The supremacy of light energy harvesting is further supported by its sustainability and environmental friendliness.
Consumer Electronics Category to Generate High Revenue Through 2034
Top Segment (End-use)
Consumer Electronics
Projected CAGR (2024 to 2034)
9.1%
Micro-energy harvesting technologies are becoming increasingly popular in the consumer electronics market. This surge is mostly driven by consumers' increased choice of environmentally friendly, convenient, and self-sufficient electronic products.
Consumer electronics, such as smartwatches, fitness trackers, wireless earphones, and wearable health monitors, benefit greatly from using micro-energy harvesting technology.
Micro-energy harvesting systems demand compact and lightweight power sources to operate for lengthy periods while being user-friendly and convenient.
Micro-energy harvesting systems provide a sustainable and environmentally friendly power solution by utilizing ambient energy sources such as light, motion, or body heat. It coincides with consumers' desire for sustainability and energy efficiency.
Competitive Landscape
The global micro-energy harvesting system market is fragmented, with leading players accounting for around 25% to 30% share. ABB Ltd., EnOcean GmbH, STMicroelectronics N.V., Cymbet Corporation, and Powercast Corporation are the leading companies listed in the report.
Key micro-energy harvesting system companies invest in continuous research to produce new products and increase their production capacity to meet end-user demand.
They are directed toward adopting growth strategies such as acquisitions, partnerships, mergers, and facility expansions to strengthen their footprint.
Recent Developments
In February 2024, Enphase launched a microinverter for building-integrated photovoltaics. This new product allows for efficient energy harvesting from small solar panels integrated into building materials.
In February 2024, Perpetua announced a 1,000x Improvement in Piezoelectric Harvester Efficiency. This breakthrough is expected to enable the widespread adoption of vibration-based energy harvesting.
In February 2024, Ambient Micro raised USD 5 million for radio frequency energy harvesting. The company is developing technology to harvest energy from ambient radio waves to power small electronics.
In January 2024, STMicroelectronics launched the new EH PMIC with an integrated boost converter. This chip simplifies design and improves efficiency for solar and vibration energy harvesting applications.
In January 2024, Parallax launched energy harvesting development kit. This kit provides tools and resources for engineers to prototype and test micro-energy harvesting system applications for various environments.
In November 2023, EnOcean collaborated with NXP to build automation solutions. This partnership integrates EnOcean's energy-harvesting wireless switches with NXP's smart building technology, creating self-powered building automation systems.
Key Companies Profiled
Linde
Air Products
Plug Power
BP
Siemens
Lhyfe
First Micro-Energy Harvesting System
AMEA Power
Bloom Energy Corp
Air Liquide
Adani Green Energy
Shell PLC
Worthington Industries
Cryolor
Reliance Industry
Chart Industries
BayoTech
Micro-Energy Harvesting Systemics
Cummins
Sinopec
Key Coverage in the Market Report
Micro-scale Renewable Energy Market Size and Share Analysis
MEMS-based Energy Harvesting Market Coverage
Nano-scale Power Generation Market Forecast
Micro-scale self-powered Devices Market Overview
Sub-millimeter Energy Harvesting Systems Market Comparison Analysis
Growth of Micro-energy Harvesting System Market
Emerging trends in the Micro-Energy Harvesting System Market
Advancements in Miniature Energy Harvesting Devices
Self-powered Micro-devices Market in India Analysis
Micro-energy Harvesting System Market Segmentation by Category
By Technology:
Light Energy Harvesting
Vibration Energy Harvesting
EM & RF Energy Harvesting
Thermal Energy Harvesting
Magnetic Energy Harvesting
Electric Energy Harvesting
Others
By Power Density:
15 m W/cm3
330 µ W/cm3
116 µ W/cm3
40 µ W/cm3
960 n W/cm3
By End-use:
Building & Home Automation
Consumer Electronics
Industrial
Transportation
Healthcare
Security
Others
By Region:
North America
Latin America
Western Europe
Eastern Europe
East Asia
South Asia and Pacific
Middle East and Africa
Frequently Asked Questions
How big is the micro-energy harvesting system market?
The market is estimated to be valued at USD 256.2 million in 2024.
At what rate is the micro-energy harvesting system market expected to grow?
The market is expected to increase at a CAGR of 11.9% over the forecast period.
What is the scope of the micro-energy harvesting system market in the United States?
The United States is expected to register a CAGR of 7.1% from 2024 to 2034.
What is the valuation forecast of the micro-energy harvesting system market?
The market is predicted to reach USD 788.5 million by 2034.
Which are the key companies in the micro-energy harvesting system market?
Linde, Air Products, and Plug Power are the leading companies in the market.
What is the scope of micro-energy harvesting system in China?
China is expected to register a CAGR of 8% from 2024 to 2034.
Table of Content
1. Executive Summary
2. Market Overview
3. Key Market Trends
4. Key Success Factors
5. Global Market Demand Analysis 2019 to 2023 and Forecast, 2024 to 2034
6. Global Market - Pricing Analysis
7. Global Market Demand (in Value or Size in USD million) Analysis 2019 to 2023 and Forecast, 2024 to 2034
8. Market Background
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Technology
9.1. Light Energy Harvesting
9.2. Vibration Energy Harvesting
9.3. EM & RF Energy Harvesting
9.4. Thermal Energy Harvesting
9.5. Magnetic Energy Harvesting
9.6. Electric Energy Harvesting
9.7. Others
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Power Density
10.1. 15 mW/cm³
10.2. 330 µW/cm³
10.3. 116 µW/cm³
10.4. 40 µW/cm³
10.5. 960 nW/cm³
11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use
11.1. Building & Home Automation
11.2. Consumer Electronics
11.3. Industrial
11.4. Transportation
11.5. Healthcare
11.6. Security
11.7. Others
12. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region
12.1. North America
12.2. Latin America
12.3. East Asia
12.4. South Asia Pacific
12.5. Western Europe
12.6. Eastern Europe
12.7. Middle East and Africa
13. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034
14. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034
15. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034
16. South Asia Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034
17. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034
18. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034
19. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034
22. Competition Analysis
22.1. ABB Ltd.
22.2. EnOcean GmbH
22.3. STMicroelectronics N.V.
22.4. Cymbet Corporation
22.5. Powercast Corporation
22.6. MicroGen Systems, Inc.
22.7. Texas Instruments Incorporated
22.8. Honeywell International Inc.
22.9. Mide Technology Corporation
22.10. LORD Sensing - MicroStrain
22.11. e-peas
22.12. Microchip Technology, Inc.
22.13. Fujitsu Limited
22.14. Nikola Labs
22.15. Resensys
22.16. Soundpower Corp.
22.17. National Instruments
22.18. Semtech
22.19. Cypress
22.20. Analog Devices
22.21. Other Key Players
23. Primary Insights
24. Assumptions and Acronyms Used
25. Research Methodology
