Energy Harvesting Systems Market - Forecast(2021 - 2026)
The global energy harvesting systems market is estimated to grow at a CAGR of 12.1% during the forecast period, 2021-2026 , and shall cross $1 billion mark by 2026, from around $615 million in 2020. Energy harvesting devices help in energy conservation in Power Management Integrated Circuits (PMIC) which are been dissipated in terms of heat, electromagnetic radiation, light, sound, vibration, or movement. Devices aids in harvest or energy scavenging can capture, accumulate, store, condition, and manage this energy into electricity for further consumption. Although the market shall witness a slight downturn of around -4% in 2020 due to the impact of COVID-19, the market shall bounce back in 2021 on the back of strong consumer demand in electronics, photovoltaics and industry verticals such as Oil and Gas, Manufacturing etc. Governments and favorable public initiatives are the major drivers for energy harvesting market growth. Public actors consider energy harvesting a...