Ambient Energy Harvesting
- Conversion of ambient energy into usable electrical energy is known as ambient energy harvesting
- Energy harvesting or scavenging methods are characterized depending upon power density. Currently, three types of energy harvesting methods are used: electrostatic (capacitive) energy harvesting, electromagnetic energy harvesting, and piezoelectric energy harvesting.
- Under electromagnetic energy harvesting, a magnetic field converts mechanical energy into electrical energy. In case of piezoelectric energy harvesting, the mechanical energy is converted into electrical energy by straining a piezoelectric material.
- Ambient mechanical and thermal energy are classified as the largest forms of renewable energy. They also provide desired power for low-power electronic devices by using piezoelectric and pyro-electric materials.
Key Drivers of Global Ambient Energy Harvesting Market
- Demand for ambient energy harvesting has been increasing across the globe owing to rise in automation and digitization across the globe. Demand for electricity is high owing to an increase in population across the globe. This is driving the global ambient energy harvesting market.
- Rise in investments in renewable energy sources to reduce carbon footprint is anticipated to further boost the demand for ambient energy harvesting during the forecast period
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COVID-19 Impact Analysis
- Governments of various countries have enforced nationwide lockdowns as a precautionary measure to curb the spread of the COVID-19 pandemic. This has disrupted planned ambient energy harvesting projects across the globe. The pandemic has disrupted the supply of new equipment and skilled labor in the market.
- On July 23, 2020, 8POWER was named by Gartner as a Cool Vendor in the May 2020 Cool Vendors in IoT Thingification report. The company’s innovative energy harvesting sensors are designed to help an industry improve efficiency, save money, and reduce carbon footprint. The Gartner recognition validates the company’s vision of helping water companies overcome resource limitations to diagnose issues with motorized assets early, thus reducing downtime and catastrophic failure.
Asia Pacific to Hold Major Share of Global Ambient Energy Harvesting Market
- Based on region, the global ambient energy harvesting market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Europe dominated the global ambient energy harvesting market in 2019, owing to rise in investments in the renewable sector such as solar, onshore & offshore wind energy, and geothermal energy. The region is implementing stringent environmental regulations to eliminate carbon emission by 2050.
- North America is estimated to hold prominent share of the global ambient energy harvesting market in the next few years. Demand for electricity has been rising due to implementation of smart city projects and IoT devices integrated with renewable energy sources
- Asia Pacific was a highly attractive region of the global ambient energy harvesting market in 2019, owing to rise in urbanization and globalization in the region. The trend is projected to continue during the forecast period owing to increase in investments in renewable energy sources by countries such as China, India, South Korea, and Japan.
- The market in Middle East & Africa and Latin America is anticipated to expand at a moderate pace during the forecast period. The industrial and renewable sector in these regions has been developing at a rapid pace. This is projected to augment the demand for ambient energy harvesting in the near future.