Technology

Energy Harvesting Systems Market to Be Worth $1.0 Billion by 2031 – Exclusive Report by Meticulous Research®

Published

6 months ago

July 1, 2024

REDDING, Calif., July 1, 2024 /PRNewswire/ — According to a new market research report titled, ‘Energy Harvesting Systems Market by Component, Energy Source (Solar, Thermal), Application (Tracking and Monitoring, Smart Building and Infrastructure), End User (Consumer Electronics, Healthcare), and Geography—Global Forecast to 2031,’ the global energy harvesting systems market is projected to reach $1.0 billion by 2031, at a CAGR of 10.3% from 2024–2031.

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Energy harvesting is the process of capturing energy from a system’s environment and converting it into usable electric power. It enables electronic components to operate where conventional power sources are unavailable, eliminating the need for wired connections and frequent battery replacements. Energy harvesting involves obtaining energy from sources like solar radiation, thermal gradients, wind, changes in ocean salinity, and kinetic motion to power low-energy electronics. Energy harvesting systems are widely used across various applications, including tracking & monitoring, wearable electronics, smart buildings & infrastructure, environmental monitoring systems, and healthcare & medical devices.

The growth of this market is driven by the increasing adoption of energy harvesting systems in rural areas and the growing need to harvest energy from sustainable sources. However, the high initial investment requirements for the installation of energy harvesting systems restrain the growth of this market.

Furthermore, the integration of sensors in wearable electronics and advancements in ocean energy harvesting technologies are expected to create market growth opportunities. However, the lack of awareness regarding energy harvesting systems is a major challenge impacting the market’s growth.

Additionally, favorable government initiatives aimed at promoting the use of green energy and ensuring sustainable development are prominent trends in this market.

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The global energy harvesting systems market is segmented by component (power management solutions, sensors, transmitters, and other components), energy source (solar energy, thermal energy, chemical energy, magnetic energy, tidal energy, and other energy sources), application (tracking and monitoring, wireless sensor networks, wearable electronics, smart building and infrastructure, environmental monitoring systems, industrial automation, healthcare and medical devices, and other applications), end user (consumer electronics, military & aerospace, automotive, healthcare, agriculture, energy & utilities, transportation, and other end users), and geography. The study also evaluates industry competitors and analyses the market at the country and regional levels.

Based on component, in 2024, the power management solutions segment is expected to account for the largest share of over 27.0% of the global energy harvesting systems market. However, the sensors segment is expected to register the highest CAGR during the forecast period. This segment’s growth is driven by the increasing adoption of sensors to measure various parameters within heat exchangers and actuators and their integration into a wide range of energy harvesting systems for signal processing, communication, and data collection functions.

Based on energy source, in 2024, the solar energy segment is expected to account for the largest share of around 35.0% of the global energy harvesting systems market. This segment’s large market share can be attributed to the increasing need for efficient battery charging solutions and the rising use of solar energy in applications such as water & space heating. However, the thermal energy segment is expected to register the highest CAGR during the forecast period.

Based on application, in 2024, the tracking and monitoring segment is expected to account for the largest share of around 24.0% of the energy harvesting systems market. This segment’s large market share can be attributed to the rising need to track & monitor the physical location and status of mobile objects and the increasing adoption of energy harvesting technologies to enable autonomous operation without frequent battery replacements or external power sources. These systems can seamlessly integrate with IoT networks and wireless communication protocols used in asset tracking.

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However, the smart building and infrastructure segment is expected to register the highest CAGR during the forecast period. This segment’s growth is driven by the increasing adoption of energy harvesting systems to support green building initiatives aimed at reducing reliance on conventional energy sources. Moreover, energy harvesting offers long-term cost savings by enabling lower energy bills and reduced maintenance expenses typically associated with battery replacements. Additionally, these systems mitigate the risk of system downtime and disruptions, ensuring consistent operation of critical building functions such as lighting, HVAC, and security systems. These benefits are expected to drive the demand for energy harvesting systems for smart building and infrastructure applications during the forecast period.

Based on end user, in 2024, the consumer electronics segment is expected to account for the largest share of around 51.0% of the energy harvesting systems market. However, the healthcare segment is expected to register the highest CAGR during the forecast period. This segment’s growth is driven by the increasing integration of energy harvesting systems into medical devices, enabling them to operate autonomously without the need for frequent battery changes. Additionally, the rising integration of energy harvesting systems into IoT platforms and healthcare information systems for real-time data transmission and analysis contributes to this segment’s growth.

Based on geography, in 2024, North America is expected to account for the largest share of around 34.0% of the energy harvesting systems market. North America’s significant market share can be attributed to the growing adoption of energy harvesting systems in home automation, industrial, and transportation applications, government initiatives aimed at promoting the use of zero-emission energy sources, including hydro, wind, solar, and nuclear energy, and the increasing demand for green energy across industrial, residential, and consumer sectors in the region.

However, the market in Asia-Pacific is projected to register the highest CAGR of over 14.0% during the forecast period. The growth of this regional market is driven by the rising demand for electricity in the region’s industrial sector, the increasing adoption of ultra-low-power devices to enhance energy efficiency, initiatives to expand interconnected grids to improve flexibility & energy security, and the rising use of cost-effective power sources to reduce reliance on fossil fuels.

The key players operating in the energy harvesting systems market are ABB Ltd (Switzerland), Analog Devices, Inc. (U.S.), Texas Instruments Incorporated (U.S.), STMicroelectronics International N.V. (Switzerland), e-peas SA (Belgium), Infineon Technologies AG (Germany), Honeywell International Inc. (U.S.), Microchip Technology Inc. (U.S.), Renesas Electronics Corporation (Japan), EnOcean GmbH (Germany), Advanced Linear Devices, Inc. (U.S.), Piezo.com (U.S.), Powercast Corporation (U.S.), Laird Thermal Systems, Inc. (U.S.), and DCO Systems Limited (U.K.).

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Scope of the Report:

Energy Harvesting Systems Market Assessment—by Component

Power Management SolutionsPower Management Integrated Circuits (PMICS)ConvertersRegulatorsControllersSensorsTransmittersOther Components

Energy Harvesting Systems Market Assessment—by Energy Source

Solar EnergyThermal EnergyChemical EnergyMagnetic EnergyTidal EnergyOther Energy Sources

Energy Harvesting Systems Market Assessment—by Application

Tracking and MonitoringWireless sensor networksWearable ElectronicsSmart Building and InfrastructureEnvironmental Monitoring SystemsIndustrial AutomationHealthcare and Medical DevicesOther Applications

Energy Harvesting Systems Market Assessment—by End User

Consumer ElectronicsMilitary & AerospaceAutomotiveHealthcareAgricultureEnergy & UtilitiesTransportationOther End Users

Energy Harvesting Systems Market Assessment—by Geography

North America U.S.CanadaEurope GermanyU.K.FranceItalyNetherlandsSpainSwedenRest of EuropeAsia-Pacific JapanChinaIndiaSouth KoreaSingaporeAustralia & New ZealandIndonesiaRest of Asia-PacificLatin America MexicoBrazilRest of Latin AmericaMiddle East & Africa UAESaudi ArabiaIsraelRest of Middle East & Africa

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About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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Technology

Macrogen Consortium win tender for National Bio Big Data Project

Published

59 minutes ago

December 23, 2024

Illumina is proud to be selected as sequencing technology partner to the Macrogen Consortium.

SEOUL, South Korea, Dec. 23, 2024 /PRNewswire/ — Macrogen a global healthcare company that specializes in precision medicine and Illumina Inc. (NASDAQ: ILMN), a global leader in DNA sequencing and array-based technologies, announced today that they are honoured to support the National Bio Big Data project by sequencing and analysing 145,952 Korean genomes.

The National Bio Big Data Project project has been running in Korea as a pilot project since 2020. During this period about 20,000 genomes were analysed, 10,000 of these including people with a rare disease. The ultimate goal is to enable precision medicine by building a reference genome for about 770,000 Koreans by 2028 and a total of 1 million by 2032.

“Being a part of this step change to improving public health in Korea through the voluntary collection and analysis of genomic, clinical and life record information from the general public, is paramount to ensure precision medicine becomes a standard of care for all Koreans,” said Changhoon Kim, CEO Macrogen.

“Illumina is pleased to be a part of the Korean bio industry ecosystem and to participate in such an important national project. We look forward to contributing to Korea by bringing our expertise and lessons learned from our direct involvement in leading pop gen projects around the world,” said Robert McBride, General Manager of Illumina Korea.

People across the globe have very similar genes but a small number of variants between populations can impact health. For example, some variants are associated closely with particular diseases such as cystic fibrous.[1]These variants can present differently in populations and have a significant impact on how individuals respond to medicines and treatments. Therefore, it is beneficial for Koreans to have information available that is unique to them.

Worldwide, the number of pop gen projects is expanding rapidly, including the UK, Japan, Singapore, Qatar, the United Arab Emirates, and Nigeria.

“Population genome projects are growing worldwide with many programs reaching significant milestones. But despite this inequity remains with the majority of genome datasets being of European descent. This means we have a lot of information how to develop drugs for European populations but this doesn’t translate in any meaningful way to other nationalities,“ said Robert McBride.

Population genomics provides a platform for industry engagement and investment, specifically in the pharmaceutical, biotechnology, and data sectors. By integrating large, diverse data sets and using advanced computing technology (such as artificial intelligence or machine learning), health systems and partners are optimally positioned to unlock the power of the genome even further, while improving quality of life and care and fostering economic growth.

“Precision medicine is changing how diseases are treated and this benefits everyone. For patients, treatments often work better when decisions are based around an individual’s genome, for drug companies it can reduce cost of development and for governments there are long term savings related to less waste and healthier patients,” said Changhoon Kim.

References

[1] https://www.genome.gov/about-genomics/educational-resources/fact-sheets/human-genomic-variation#:~:text=How%20do%20peoples’%20genomes%20vary,person%20responds%20to%20certain%20medications.

About Macrogen

Macrogen is a global genetic service provider, partnered with over 18,000 scientists in 150+ countries, and with more than 20 years of experience in the industry.

Established in 1997, from the Genome Medical Research Institute of Seoul National University, Macrogen has become a major service provider and consulting agent for government agencies, universities and research institutes around the world.

About Illumina

Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. To learn more, visit www.illumina.com and connect with us on X (Twitter), Facebook, LinkedIn, Instagram, TikTok, and YouTube.

About the Consortium

Macrogen Consortium members include the following companies: DNA Link, Theragen Bio, and CG Invites

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SOURCE Illumina

Technology

As 2025 IRS Mileage Rate Hits 70 Cents, Expert Warns: Ditch Risky Apps for Secure Paper Tracking

Published

6 hours ago

December 22, 2024

Gig economy expert Ed Ryder warns against the risks of mileage tracking apps, and advocates using paper-based tracking methods instead. He introduces The Big Mileage Form, a secure alternative developed over two years to meet the specific needs of food delivery gig workers. Ryder highlights recent tech failures, like the July 2024 global IT outage, to underscore the vulnerabilities of digital solutions. The press release also mentions Ryder’s significant mileage deduction using his form and directs readers to GigCoach.net for additional resources, including a consumer tutorial to drive better food delivery outcomes and a gig coach training program.

PHILADELPHIA, Dec. 22, 2024 /PRNewswire-PRWeb/ — As the IRS announces a standard mileage rate of 70 cents per mile for 2025, gig economy expert Ed Ryder, who has completed over 10,000 deliveries with his own car using major food delivery platforms, urges fellow gig workers to reconsider their mileage tracking methods. While acknowledging the convenience of digital solutions, Ryder advocates for a return to secure, paper-based tracking to protect valuable mileage deductions.

With the mileage rate at 70 cents, accurate tracking is crucial for gig workers and small business owners. Mileage apps seem convenient, but they risk data loss from outages, glitches, and cyber attacks. Many overlook these significant dangers.

“With the mileage rate increasing to 70 cents, accurate tracking is more crucial than ever for gig workers and small business owners,” says Ryder, creator of The Big Mileage Form. “While mileage tracking apps seem convenient, they come with significant risks that many overlook. Network outages, app glitches, and cyber attacks can jeopardize months of data.”

Ryder points to the July 2024 global IT outage as a prime example of technology’s vulnerabilities. “A faulty software update caused mass airline disruptions and impacted other industries, catching major corporations off guard. This incident highlights that even in our digital age, software isn’t infallible. For me, I simply won’t trust mileage tracking apps with my most important tax deduction.”

To address these concerns, Ryder developed a comprehensive, paper-based solution. “I spent two years perfecting The Big Mileage Form, tailoring it to the specific needs of food delivery gig workers,” he explains. “At 11×17 inches, it provides ample space for detailed record-keeping and, crucially, it’s immune to software glitches, data breaches, and ransomware attacks.”

Ryder’s meticulous paper-based record-keeping resulted in a mileage deduction exceeding $19,000 on his 2023 federal taxes. “All my business-related miles are thoroughly documented on paper. I’m fully prepared to defend this deduction in case of an audit. This level of confidence is what I aim to provide other gig workers.”

“In today’s digital age, sometimes the most secure solution is the simplest one,” Ryder concludes. “My form not only ensures data security but also prepares users for potential IRS audits. It’s time to reconsider the old-fashioned, but reliable pen-and-paper method.”

For those interested in learning more about effective mileage tracking and other aspects of gig work, Ryder offers valuable resources on GigCoach.net. These include a tutorial for consumers titled ‘Fair Deal Delivery,’ which provides insights on how to improve food delivery outcomes. Additionally, experienced food delivery couriers can explore Ryder’s gig coach training program. Visit GigCoach.net to access these resources and learn more about The Big Mileage Form.

Media Contact

Ed Ryder, Match Experiment LLC, 1 484-493-8740, hello@ideamaned.com, gigcoach.net

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SOURCE Gig economy expert Ed Ryder

Technology

DATA BREACH ALERT: Edelson Lechtzin LLP Is Investigating Claims On Behalf Of Ascension Health Customers Whose Data May Have Been Compromised

Published

6 hours ago

December 22, 2024

NEWTOWN, Pa., Dec. 22, 2024 /PRNewswire/ — The law firm of Edelson Lechtzin LLP is investigating claims regarding data privacy violations by Ascension Health (“Ascension”). Ascension learned of suspicious activity on or about May 8, 2024. To join this case, go HERE.

About Ascension Health

Ascension is a prominent non-profit health system in the nation and operates under Catholic principles.

What happened?

On or about May 8, 2024, Ascension detected unauthorized activity in its computer systems. Ascension initiated an investigation, which included retaining consulting cybersecurity experts and notifying the FBI. The investigation determined that between May 7 and 8, 2024, a cybercriminal accessed files containing personal information about Ascension’s patients and employees. This information included names, medical records, payment details, insurance information, government identification numbers, and other personal data such as dates of birth and addresses. Approximately 6 million individuals have been affected by this data breach.

How can I protect my personal data?

If you receive a data breach notification, you must guard against possible misuse of your personal information, including identity theft and fraud, by regularly reviewing your account statements and monitoring your credit reports for suspicious or unauthorized activity. Additionally, you should consider legal options for mitigating such risks.

Edelson Lechtzin LLP is investigating a class action lawsuit to seek legal remedies for customers whose sensitive personal and patient data may have been compromised by the Ascension data breach.

For more information, please contact:

Marc H. Edelson, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492
Email: medelson@edelson-law.com
Web: www.edelson-law.com

About Edelson Lechtzin LLP
Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving data breaches, our lawyers focus on class and collective litigation in cases alleging securities and investment fraud, violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and catastrophic injuries.

This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so counsel does not represent you unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing now. Your ability to share in any potential future recovery does not depend on serving as lead plaintiff.

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SOURCE Edelson Lechtzin LLP