Energy Harvesting Chip Market to Approach $3.4bn by 2022: Semico Research

A broad range of markets will employ energy harvesting to either replace batteries or extend battery life.

In an addition to the evidences to show that alternate sources of energy are going to be consumed more than ever in near future, a research report by Arizona based market researcher, Semico Research shows that the energy harvesting chip market will touch USD 3.4 billion by the year 2022.

Manager, Manufacturing Research, Semico Research, Joanne Itow said, “While there is a great deal of interest in the different types of energy harvesting devices or energy generators. The greater opportunity for the semiconductor industry is the overall solution which includes power conversion, power management, microcontrollers, radios, and MEMS sensors. The advent of IoT with remote monitoring and data collection has also prompted more interest in energy harvesting as a viable solution to maintain WSNs (Wireless Sensor Networks).”

According to the research report, a broad range of markets will employ energy harvesting to either replace batteries or extend battery life.

The main applications for the energy harvesting equipment includes wireless sensor nodes (WSN) for bridges, infrastructure, building automation and controls, home automation (including lighting, security, and environmental, automotive applications, cell phones, wearables, and other consumer electronics.

Significantly, the number of devices with an energy harvesting solution is expected to reach 509 million units by 2022 whereas ‘bridges’ are expected to be a large user of energy harvesting in the infrastructure sector by 2022.

Also, energy harvesting devices in all buildings is expected to have a compound annual growth rate (CAGR) of 20.7% by 2022.

Source: EENews