Showing posts with label Energy Harvesting System Market Analysis. Show all posts
Showing posts with label Energy Harvesting System Market Analysis. Show all posts

Energy Harvesting System Market to Witness a CAGR of 11.0% in Coming Future



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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