Vibration Energy Harvesting Systems Market to Reach USD 183 Million by 2024
Rising adoption of Internet
of Things (IoT) applications and increasing demand for power-efficient and
durable systems to propel the growth of vibration energy harvesting systems
market through 2026.
According to a report published by
TechSci Research on Global Vibration Energy Harvesting Systems Market By Product, By
Application, By Region, By Company, Competition, Forecast & Opportunities, 2014-2024, the global vibration energy harvesting
systems market is projected to reach USD183 million by 2024, on account of
increasing demand for clean energy
sources and extensive implementation of IoT devices in automation and
energy harvesting technology in building & home automation. Moreover,
rising adoption of IoT devices that require costly battery changes and
technological advancement in energy harvesting techniques are also propelling
the growth of global vibration energy harvesting systems market during the
forecast period. However, the high initial investment and cost of
implementation of energy harvesting systems and their limited acceptance in the
market might hinder the growth of global vibration energy harvesting systems
market.
The global vibration energy harvesting
system market can be bifurcated on the basis of product type, application type
and region. By application, global vibration energy harvesting systems market
is dominated by consumer electronics segment, majorly owing to the increasing
demand for wireless sensing gadgets and low power portable gadgets without an external
power supply. Vibration energy harvesting systems are essentially utilized as equipment
to convert ambient vibration into electrical energy that might be utilized
directly or stored for powering electronic gadgets such as smartphones,
wireless sensor networks or portable electronics.
The market for vibration
energy harvesting systems in the Asia-Pacific region is expected to grow at the
fastest rate during the forecast period, owing to increasing focus on the
utilization of renewable energy. The Japanese government in 2015 announced the
country’s aim to become the leader in renewable energy use by 2030. Fujitsu,
the Japanese tech giant, is committed to 100% renewable power by joining the
RE100, a global initiative of the world’s biggest companies, all committed to
renewable power. Similarly, China is one of the major manufacturers of
vibration energy harvesting systems in the Asia-Pacific market. The brisk
growth of end-use applications such as industrial, consumer electronics and transportation
is expected to drive the region’s market.
“Though the applications of vibration
energy harvesting systems are somewhat limited due to its low power storage
capabilities and its low conversion efficiency, the market growth of vibration
energy harvesting systems is positive. With big conglomerates like Facebook,
Goldman Sachs, Carlsberg Group, eBay and Fujitsu joining the RE100 to reduce
carbon footprints and make the utilization renewable energy sources an everyday
thing, the vibration energy harvesting systems market is expected to witness
significant growth in the coming years.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
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Key players in the global vibration
energy harvesting systems market include Perpetuum Ltd., STMicroelectronics
N.V., Murata Corporation, Kinergizer BV, Renesas Electronics Corporation, Mide
Technology Corporation, Smart Material Corporation, Powercast Corporation and
ReVibe Energy. In order to expand their market share, companies implemented several
strategies such as offering diversified product portfolios catering different
segments and strategic partnerships.
“Global
Vibration Energy Harvesting Systems Market By Product, By Application, By
Region, By Company, Competition, Forecast & Opportunities, 2014-2024”
has evaluated the future growth potential of the global vibration energy harvesting
systems market and provides statistics and information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in the global vibration energy
harvesting systems market.
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TechSci Research
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Research is serving clients across 11 different industrial verticals. TechSci
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