Building Automation Energy Harvesting Market
Building Automation Energy Harvesting Market Forecasts to 2030 - Global Analysis By Component (Power Management Integrated Circuits, Energy Harvesting Transducer and Other Components), Source (Vibration & Kinetic Energy, Radio Frequency, Solar Energy, Thermal Energy and Other Sources) and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $249.5 MN |
|
Projected Year Value (2030) |
US $524.6 MN |
|
CAGR (2023 - 2030) |
11.2% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Building Automation Energy Harvesting Market is accounted for $249.5 million in 2023 and is expected to reach $524.6 million by 2030 growing at a CAGR of 11.2% during the forecast period. The Building Automation Energy Harvesting Market refers to the sector focused on implementing energy harvesting technologies within building automation systems to improve energy efficiency and sustainability. Energy harvesting involves capturing small amounts of ambient energy from the environment, such as light, heat, or motion, and converting it into electrical power to supplement or replace traditional energy sources like batteries or grid electricity.
According to a recent research in Georgia Institute of technology, the triboelectric effect creates surprising amounts of electric power by rubbing or touching two different materials together, due to this discovery they found a new way to power mobile devices such as sensors and smartphones.
Market Dynamics:
Driver:
Advancements in energy harvesting technologies
Advancements in energy harvesting technologies are revolutionizing the Building Automation Energy Harvesting Market by offering more efficient and sustainable solutions. These technologies enable the capture and conversion of ambient energy sources, such as light, heat, and vibrations, into usable electrical energy to power various building automation systems. With continuous improvements in energy harvesting devices like solar panels, thermoelectric generators, and piezoelectric materials, buildings can tap into renewable energy sources to operate sensors, actuators, and other components of automated systems.
Restraint:
Initial investment costs
While these systems offer promising long-term energy savings and sustainability benefits, the upfront expenses deter many potential users. Implementing energy harvesting technologies often requires substantial capital investment for equipment, installation, and integration with existing building systems. The complexity of these systems may require specialized expertise for deployment, further increasing costs. This financial barrier is particularly pronounced for smaller organizations or building owners with limited budgets, constraining their ability to embrace energy harvesting solutions.
Opportunity:
Integration with IoT and smart building solutions
Integration with IoT (Internet of Things) and smart building solutions has revolutionized the Building Automation Energy Harvesting Market by enabling enhanced efficiency, optimization, and sustainability in energy management. By integrating IoT devices such as sensors, actuators, and smart meters with building automation systems, real-time data collection and analysis become possible, allowing for precise control and monitoring of energy usage. Smart building solutions leverage machine learning algorithms and predictive analytics to optimize energy consumption based on occupancy patterns, weather forecasts, and other factors.
Threat:
Regulatory and standards compliance
In many regions, stringent regulations mandate specific energy efficiency standards and requirements for buildings, driving the adoption of energy-efficient technologies like building automation systems. However, integrating energy harvesting technologies into these systems often requires compliance with additional standards and certifications, adding complexity and cost to implementation. Moreover, differing standards across regions can hinder interoperability and scalability, deterring investment and innovation in energy harvesting solutions.
Covid-19 Impact:
With the imposition of lockdowns and restrictions globally, the construction sector witnessed a slowdown, leading to delays or cancellations of building projects. This slowdown directly affected the demand for building automation systems, including energy harvesting solutions, as businesses and industries scaled back investments in infrastructure upgrades. Additionally, the economic uncertainty caused by the pandemic prompted many organizations to prioritize essential expenditures, diverting funds away from non-urgent projects like energy efficiency enhancements.
The Energy Harvesting Transducer segment is expected to be the largest during the forecast period
Energy Harvesting Transducer segment is expected to be the largest during the forecast period as it enables the extraction of ambient energy from various sources within buildings, such as vibrations, light, and temperature differentials, and converting it into usable electrical power. This advancement in energy harvesting technology addresses the growing demand for sustainable and energy-efficient building solutions. By integrating energy harvesting transducers into building automation systems, facilities can significantly reduce their reliance on traditional power sources, lower operational costs, and minimize environmental impact.
The Radio Frequency segment is expected to have the highest CAGR during the forecast period
Radio Frequency segment is expected to have the highest CAGR during the forecast period as it offers an efficient and sustainable solution for powering devices within smart buildings. RF energy harvesting utilizes ambient radio frequency signals present in the environment to generate power, eliminating the need for traditional batteries or wired power sources. This technology enables sensors, actuators, and other building automation devices to operate autonomously, significantly reducing maintenance costs and enhancing scalability. RF energy harvesting systems can capture energy from various sources, including Wi-Fi, cellular, and broadcast signals, providing a versatile and reliable power source for a wide range of applications.
Region with largest share:
Asia Pacific region commanded the largest share of the market over the extrapolated period. Green buildings emphasize energy efficiency and sustainability, leading to a heightened focus on implementing innovative technologies to minimize energy consumption. Building automation systems, integrated with energy harvesting technologies, enable efficient management of energy resources by harnessing renewable sources like solar, kinetic, or thermal energy within the building environment. These systems utilize sensors, controls, and actuators to optimize energy usage, reducing reliance on traditional power sources and mitigating environmental impact.
Region with highest CAGR:
Asia Pacific region is poised to hold profitable growth over the extrapolated period. Government regulations often focus on energy efficiency and sustainability, encouraging the adoption of technologies such as building automation and energy harvesting systems. Stringent energy efficiency standards and building codes push companies to invest in solutions that minimize energy consumption and environmental impact. Additionally, government incentives and subsidies further incentivize businesses to integrate energy harvesting technologies into their buildings.
Key players in the market
Some of the key players in Building Automation Energy Harvesting market include ABB, Advanced Linear Devices, Inc, Cedrat Technologies, EnOcean GmbH, Honeywell, Kinergizer, Mide Technology Corp, Mouser Electronics, Powercast Corporation, Renesas Electronics Corporation, STMicroelectronics and ZF Friedrichshafen AG.
Key Developments:
In December 2022, the Indian government announced plans for an investment of over USD 25 billion in the renewable energy sector, which includes the adoption of advanced technologies such as solar equipment, electric vehicles, and energy storage solutions.
Components Covered:
• Power Management Integrated Circuits
• Energy Harvesting Transducer
• Other Components
Sources Covered:
• Vibration & Kinetic Energy
• Radio Frequency
• Solar Energy
• Thermal Energy
• Other Sources
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Emerging Markets
3.7 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Building Automation Energy Harvesting Market, By Component
5.1 Introduction
5.2 Power Management Integrated Circuits
5.3 Energy Harvesting Transducer
5.4 Other Components
6 Global Building Automation Energy Harvesting Market, By Source
6.1 Introduction
6.2 Vibration & Kinetic Energy
6.3 Radio Frequency
6.4 Solar Energy
6.5 Thermal Energy
6.6 Other Sources
7 Global Building Automation Energy Harvesting Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 ABB
9.2 Advanced Linear Devices, Inc
9.3 Cedrat Technologies
9.4 EnOcean GmbH
9.5 Honeywell
9.6 Kinergizer
9.7 Mide Technology Corp
9.8 Mouser Electronics
9.9 Powercast Corporation
9.10 Renesas Electronics Corporation
9.11 STMicroelectronics
9.12 ZF Friedrichshafen AG
List of Tables
1 Global Building Automation Energy Harvesting Market Outlook, By Region (2021-2030) ($MN)
2 Global Building Automation Energy Harvesting Market Outlook, By Component (2021-2030) ($MN)
3 Global Building Automation Energy Harvesting Market Outlook, By Power Management Integrated Circuits (2021-2030) ($MN)
4 Global Building Automation Energy Harvesting Market Outlook, By Energy Harvesting Transducer (2021-2030) ($MN)
5 Global Building Automation Energy Harvesting Market Outlook, By Other Components (2021-2030) ($MN)
6 Global Building Automation Energy Harvesting Market Outlook, By Source (2021-2030) ($MN)
7 Global Building Automation Energy Harvesting Market Outlook, By Vibration & Kinetic Energy (2021-2030) ($MN)
8 Global Building Automation Energy Harvesting Market Outlook, By Radio Frequency (2021-2030) ($MN)
9 Global Building Automation Energy Harvesting Market Outlook, By Solar Energy (2021-2030) ($MN)
10 Global Building Automation Energy Harvesting Market Outlook, By Thermal Energy (2021-2030) ($MN)
11 Global Building Automation Energy Harvesting Market Outlook, By Other Sources (2021-2030) ($MN)
12 North America Building Automation Energy Harvesting Market Outlook, By Country (2021-2030) ($MN)
13 North America Building Automation Energy Harvesting Market Outlook, By Component (2021-2030) ($MN)
14 North America Building Automation Energy Harvesting Market Outlook, By Power Management Integrated Circuits (2021-2030) ($MN)
15 North America Building Automation Energy Harvesting Market Outlook, By Energy Harvesting Transducer (2021-2030) ($MN)
16 North America Building Automation Energy Harvesting Market Outlook, By Other Components (2021-2030) ($MN)
17 North America Building Automation Energy Harvesting Market Outlook, By Source (2021-2030) ($MN)
18 North America Building Automation Energy Harvesting Market Outlook, By Vibration & Kinetic Energy (2021-2030) ($MN)
19 North America Building Automation Energy Harvesting Market Outlook, By Radio Frequency (2021-2030) ($MN)
20 North America Building Automation Energy Harvesting Market Outlook, By Solar Energy (2021-2030) ($MN)
21 North America Building Automation Energy Harvesting Market Outlook, By Thermal Energy (2021-2030) ($MN)
22 North America Building Automation Energy Harvesting Market Outlook, By Other Sources (2021-2030) ($MN)
23 Europe Building Automation Energy Harvesting Market Outlook, By Country (2021-2030) ($MN)
24 Europe Building Automation Energy Harvesting Market Outlook, By Component (2021-2030) ($MN)
25 Europe Building Automation Energy Harvesting Market Outlook, By Power Management Integrated Circuits (2021-2030) ($MN)
26 Europe Building Automation Energy Harvesting Market Outlook, By Energy Harvesting Transducer (2021-2030) ($MN)
27 Europe Building Automation Energy Harvesting Market Outlook, By Other Components (2021-2030) ($MN)
28 Europe Building Automation Energy Harvesting Market Outlook, By Source (2021-2030) ($MN)
29 Europe Building Automation Energy Harvesting Market Outlook, By Vibration & Kinetic Energy (2021-2030) ($MN)
30 Europe Building Automation Energy Harvesting Market Outlook, By Radio Frequency (2021-2030) ($MN)
31 Europe Building Automation Energy Harvesting Market Outlook, By Solar Energy (2021-2030) ($MN)
32 Europe Building Automation Energy Harvesting Market Outlook, By Thermal Energy (2021-2030) ($MN)
33 Europe Building Automation Energy Harvesting Market Outlook, By Other Sources (2021-2030) ($MN)
34 Asia Pacific Building Automation Energy Harvesting Market Outlook, By Country (2021-2030) ($MN)
35 Asia Pacific Building Automation Energy Harvesting Market Outlook, By Component (2021-2030) ($MN)
36 Asia Pacific Building Automation Energy Harvesting Market Outlook, By Power Management Integrated Circuits (2021-2030) ($MN)
37 Asia Pacific Building Automation Energy Harvesting Market Outlook, By Energy Harvesting Transducer (2021-2030) ($MN)
38 Asia Pacific Building Automation Energy Harvesting Market Outlook, By Other Components (2021-2030) ($MN)
39 Asia Pacific Building Automation Energy Harvesting Market Outlook, By Source (2021-2030) ($MN)
40 Asia Pacific Building Automation Energy Harvesting Market Outlook, By Vibration & Kinetic Energy (2021-2030) ($MN)
41 Asia Pacific Building Automation Energy Harvesting Market Outlook, By Radio Frequency (2021-2030) ($MN)
42 Asia Pacific Building Automation Energy Harvesting Market Outlook, By Solar Energy (2021-2030) ($MN)
43 Asia Pacific Building Automation Energy Harvesting Market Outlook, By Thermal Energy (2021-2030) ($MN)
44 Asia Pacific Building Automation Energy Harvesting Market Outlook, By Other Sources (2021-2030) ($MN)
45 South America Building Automation Energy Harvesting Market Outlook, By Country (2021-2030) ($MN)
46 South America Building Automation Energy Harvesting Market Outlook, By Component (2021-2030) ($MN)
47 South America Building Automation Energy Harvesting Market Outlook, By Power Management Integrated Circuits (2021-2030) ($MN)
48 South America Building Automation Energy Harvesting Market Outlook, By Energy Harvesting Transducer (2021-2030) ($MN)
49 South America Building Automation Energy Harvesting Market Outlook, By Other Components (2021-2030) ($MN)
50 South America Building Automation Energy Harvesting Market Outlook, By Source (2021-2030) ($MN)
51 South America Building Automation Energy Harvesting Market Outlook, By Vibration & Kinetic Energy (2021-2030) ($MN)
52 South America Building Automation Energy Harvesting Market Outlook, By Radio Frequency (2021-2030) ($MN)
53 South America Building Automation Energy Harvesting Market Outlook, By Solar Energy (2021-2030) ($MN)
54 South America Building Automation Energy Harvesting Market Outlook, By Thermal Energy (2021-2030) ($MN)
55 South America Building Automation Energy Harvesting Market Outlook, By Other Sources (2021-2030) ($MN)
56 Middle East & Africa Building Automation Energy Harvesting Market Outlook, By Country (2021-2030) ($MN)
57 Middle East & Africa Building Automation Energy Harvesting Market Outlook, By Component (2021-2030) ($MN)
58 Middle East & Africa Building Automation Energy Harvesting Market Outlook, By Power Management Integrated Circuits (2021-2030) ($MN)
59 Middle East & Africa Building Automation Energy Harvesting Market Outlook, By Energy Harvesting Transducer (2021-2030) ($MN)
60 Middle East & Africa Building Automation Energy Harvesting Market Outlook, By Other Components (2021-2030) ($MN)
61 Middle East & Africa Building Automation Energy Harvesting Market Outlook, By Source (2021-2030) ($MN)
62 Middle East & Africa Building Automation Energy Harvesting Market Outlook, By Vibration & Kinetic Energy (2021-2030) ($MN)
63 Middle East & Africa Building Automation Energy Harvesting Market Outlook, By Radio Frequency (2021-2030) ($MN)
64 Middle East & Africa Building Automation Energy Harvesting Market Outlook, By Solar Energy (2021-2030) ($MN)
65 Middle East & Africa Building Automation Energy Harvesting Market Outlook, By Thermal Energy (2021-2030) ($MN)
66 Middle East & Africa Building Automation Energy Harvesting Market Outlook, By Other Sources (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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