Global energy harvesting market to grow at a CAGR of 24.31%

The global energy harvesting market has been forecast to grow at a compound annual growth rate (CAGR) of 24.31% over the next five years, to reach a total market value of $1,894.87 million by 2017.

Energy harvesting is the process of collecting the ambient energy from the surroundings like light, heat, vibration, and electromagnetic radiation, and converting it into usable electrical energy for power portable electrical devices; this can be done without using the batteries.

Europe remains the top region in the global energy harvesting market; followed by North America, APAC, and Rest of the World (ROW). In North America, the US shares the largest percentage, whereas in APAC, Japan shares the largest percentage in energy harvesting market.

Key players within the global energy harvesting market include; ABB Limited, a global leader in power and automation technologies. G24 Innovations, a company aiming to personalise solar power by leading the development of a global market for extremely lightweight, flexible solar cells. Powerleap Inc., a company focused on developing self-powered technologies and applications built for understanding and optimising the environment, and Silicon Laboratories, Inc., a leader in high-performance, analog-intensive, mixed-signal integrated circuits.

Silicon Labs enables developers to implement self-sustaining, ultra-low-power wireless sensor networks.

In addition to being environmentally-friendly and virtually inexhaustible, harvested energy provides a cost-effective, convenient alternative to conventional batteries.

For more information on the global energy harvesting market, see the latest research: Global Energy Harvesting Market Report

Follow us on Twitter @CandMResearch