Radio Frequency (RF) Energy Harvesting Market 2024 - By Size, Demand, Trends, Top Companies, Growth Drivers And Forecast 2033

The radio frequency (RF) energy harvesting market size has grown exponentially in recent years. It will grow from $17 billion in 2023 to $21.8 billion in 2024 at a compound annual growth rate (CAGR) of 28.5%. The growth in the historic period can be attributed to the proliferation of wireless communication technologies, growing concerns over energy consumption, expansion of interconnected devices and networks, growing awareness of environmental issues, supportive policies, incentives, and regulations promoting energy efficiency.

The radio frequency (RF) energy harvesting market size is expected to see exponential growth in the next few years. It will grow to $59.32 billion in 2028 at a compound annual growth rate (CAGR) of 28.4%. The growth in the forecast period can be attributed to growing deployment of Internet of Things (IoT) devices, rise in energy efficiency initiatives, increasing adoption of wireless sensor networks, development of smart cities, increasing investments in renewable energy. Major trends in the forecast period include advancements in efficiency, the emergence of smart buildings, focus on environmental sustainability, integration with wireless communication standards, the trend towards smaller and more integrated electronic devices.

Market Overview -
Radiofrequency (RF) energy harvesting refers to the process of capturing electromagnetic energy from radio frequency sources such as Wi-Fi, cellular, or broadcast transmissions. This harvested energy is converted into electrical power to sustainably power low-power electronic devices and sensors without the need for traditional batteries or wired power sources, enabling wireless connectivity and autonomous operation in various applications.

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IoT And Wireless Device Demand Fuels RF Energy Harvesting Market Expansion
The growing demand for IoT and wireless devices is expected to propel the growth of the radio frequency (RF) energy harvesting market going forward. IoT (Internet of Things) and wireless devices refer to interconnected devices that can communicate with each other wirelessly, enabling data exchange and remote control functionalities over the internet. The increasing demand for IoT and wireless devices can be attributed to the proliferation of internet connectivity, the adoption of IoT technology, and the decreasing costs of hardware components. Radio frequency (RF) energy harvesting is used to generate a modest amount of electrical power, which is utilized to activate specific circuits in wireless communication electronic devices. For instance, in September 2023, according to Ericsson, a Sweden-based telecommunications company, global IoT connections reached 15.7 billion connections in 2023 and are expected to increase by 16% to 38.9 billion connections by 2029. Therefore, the growing demand for IoT and wireless devices is driving the growth of the radio frequency (RF) energy harvesting market.

Competitive Landscape -
Major companies operating in the radio frequency (RF) energy harvesting market are ZF Friedrichshafen AG, Arrow Electronics Inc., ABB Limited, Fujitsu Limited, Telefonaktiebolaget LM Ericsson, Texas Instruments Incorporated , NXP Semiconductors N.V., Microchip Technology Inc, Cadence Design Systems Inc., Silicon Laboratories Inc., Mouser Electronics Inc., PowerFilm Inc., Everactive Inc, Enocean GmbH, Mide Technology Corp, Drayson Technologies Ltd, Nikola Labs Inc., Powercast Corp, Sodaq B.V., ONiO, Micropelt GmbH, e-peas S.A., Wiliot Inc

Energy-Harvesting Bluetooth Solutions Driving Market Growth
Major companies operating in the radio frequency (RF) energy harvesting market are prioritizing advancements, such as energy-harvesting bluetooth, to enhance the efficiency and sustainability of wireless communication and IoT devices. Energy harvesting bluetooth refers to the utilization of Bluetooth technology in devices that are powered by harvested energy from the surrounding environment, such as solar, kinetic, or radio frequency sources, rather than traditional battery power. For instance, in October 2023, Globalscale Technologies Inc., a US-based provider of IoT solutions, launched the energy harvesting bluetooth LE 5.3 module, which uses the extremely low-power ATM33/e Series SoC from Atmosic Technologies. This module, known as the GTI-ATM3330e, integrates a Bluetooth 5.3-compliant radio with an ARM Cortex M33F application processor, 128KB of RAM, 64KB of ROM, 512 KB of nonvolatile memory (NVM), ARM TrustZone-enabled security features, and state-of-the-art power management to enable maximum lifetime in battery-operated devices.

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Key Segments -
The radio frequency (RF) energy harvesting market covered in this report is segmented -
1) By Component: Transducer, Photovoltaic And Electrodynamic, Thermoelectric And Radio Frequency (RF) transducer, Power Management Integrated Circuit, Secondary Battery
2) By Energy Source: Electric, Gravitational, Magnetic, Nuclear, Thermal, Chemical, Mechanical, Radiation
3) By Frequency Range: Low Frequency (10 GHz)
4) By Application: Wireless Switching System, Wireless Heating, Ventilation, And Air Conditioning (HVAC) System, Wireless Sensing And Telematics System, Tire Pressure Monitoring System, Asset Tracking System, Remote Health Monitoring System, Regenerative Energy Harvesting System
5) By End-User Industry: Electronics, Healthcare, Defense And Aerospace, Automotive, Telecommunications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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