Annually,
35,000–45,000 pounds of CO2 emissions are attributed to an average
person. The increasing global carbon footprint and rising amount of greenhouse
gas emissions are leading to climate change. The changing climate, shifting
rainfall patterns, and rising temperature are further resulting in the
depletion of natural resources, upon which numerous economies are dependent.
The governments across the globe, in order to remedy this situation, are
focusing on ways to reduce the carbon footprint. Minimizing the wastage of
energy and harvesting it instead is one of the ways to accomplish this. The
process of energy harvesting converts wasted energy, which is accumulated, into
currents and electrical voltages.
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The systems used for the purpose of
harvesting energy also make sure that the electricity bill doesn’t burn a hole
in individuals’ pockets. These factors are leading to an increasing demand for
energy harvesting systems and devices.
The
natural resources generally used for the generation of energy, for example
fossil fuels, are finite and take a heavy toll on the environment. As per the
BP Statistical Review of World Energy, in 2010, the world was left with only
188.8 million tons of oil in the reserves that are known to humans, which is
only enough to meet the world’s demands for the coming 46.2 years.
Thus, it has
become vital to look for new ways that could help generate energy and reduce
environmental degradation, and energy harvesting could be the way to achieve
this. The global energy harvesting system market attained a value of
$358.5 million in 2017, and it is further predicted to grow at a CAGR of 11.0%
in the coming years.
The growth of the market is because of the rising adoption
of internet of things (IoT) and increasing demand for power-efficient systems
for building automation.
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