Vibration Energy Harvesting Systems Market to Reach $ 253 Million by 2024
Increasing
focus on green energy and favorable government initiatives to bolster global
vibration energy harvesting systems market through 2024
According to a report published by
TechSci Research on “Global Vibration Energy Harvesting Systems Market By Product, By Application, By Region, Competition, Forecast &
Opportunities, 2024”,
the global vibration energy harvesting systems market is projected to reach $ 253
million by 2024, on the back of growing demand for power-efficient and durable
systems that require minimum or no maintenance. Moreover, extensive
implementation of IoT devices in automation and energy harvesting technology in
building & home automation, increasing trend for green energy and favorable
initiatives by governments are also bolstering the growth of global vibration
energy harvesting systems market.
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By application, global vibration energy
harvesting systems market is dominated by transportation segment, majorly owing
to the increasing demand for vehicles and development of transportation
infrastructure. 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. In 2015, the Japanese government 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.
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“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.
“Global Vibration Energy Harvesting Systems
Market By Product, By Application, By Region, Competition, Forecast &
Opportunities, 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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