Albany, NY -- (SBWIRE) -- 11/07/2016 -- The growing need to generate power on a large scale by utilizing less energy is paving way for the progress of the global energy harvesting and energy storage market, states Transparency Market Research (TMR) in a new research report. The report is titled, "Energy Harvesting and Energy Storage Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014–2020."

According to the report, the growth of the global energy harvesting and energy storage market can be attributed to rising concerns regarding the extensive use of non-renewable energy sources to cater to the unmet energy needs. Energy is available in forms such as electromagnetic, mechanical, kinetic power, thermal, wind, and solar. Energy harvesting and storage is a technique through which energy derived from these sources collected, stored, and managed in a way that it can be used for viable purposes in the future.

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The report states that the power derived from the storage and harvesting of energy is a potential solution during the hours of demand in remote areas and thus can be supplied there in times of need. Ambient energy such as human power, environmental vibrations, thermal gradients, and pressure gradients is scavenged to harvest energy for future use. Energy harvesting and storage also enhance the reliability of the grid system as it is employed as an alternative source of energy to feed primary power sources.

The study says that the advancement in technology has boosted the capacity and efficiency of the energy harvesting devices, thus enabling maximum energy accumulation and conversion into electrical energy. Furthermore, the growing demand for durable and safe power sources is anticipated to fuel the growth of the global energy harvesting and energy storage market during the forecast period. Initiatives by governments regarding environmental friendly power generation is another factor that is likely to drive the adoption of energy harvesting and energy storage devices.

Factors such as limitations in the modules of remotely installed networks and low deployment of energy harvesting in emerging economies due to high initial costs are expected to impede the growth of the market. However, manufacturers of energy harvesting and energy storage systems can gain lucrative growth opportunities from the advent of ocean energy harvesting and the adoption of this technique in portable medical equipment.

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The report presents a comprehensive overview of the growth trajectory of the global energy harvesting and energy storage market along with the predominant trends. It also highlights the dynamics that are anticipated to drive or inhibit the growth of the market during the forecast period. The study also projects the revenue and volume growth of the market. Information on the competitive landscape, degree of entry and exit barriers, and leading companies has also been offered in the report.

Geographically, Europe dominates the global market closely trailed by North America and Asia Pacific. The growth of the market in Europe can be attributed to the initiatives taken up by the European Commission to promote the development of the technologies employed in energy harvesting. The leading companies operating in the global energy harvesting and energy storage market are Siemens AG, Honeywell International Inc., Fujitsu, Arveni, and ABB Limited, among others.

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