Credence Research just published a market analysis on the Vibration energy harvesting systems market in which it covers the segments: (by Product Type – Linear Systems, Nonlinear Systems and Rotational Systems; by Application – Consumer Electronics, Industrial, Transportation, Defense, Healthcare and Others)
San Jose, United States - November 15, 2018 /MarketersMedia/ —
According to a new market research report published by Credence Research “Vibration Energy Harvesting Systems Market (by Product Type – Linear Systems, Nonlinear Systems and Rotational Systems; by Application – Consumer Electronics, Industrial, Transportation, Defense, Healthcare and Others) Market – Growth, Future Prospects, and Competitive Analysis, 2018 - 2026”, the global vibration energy harvesting systems market accounted to hit value of US$ 398.68 Mn in 2017 and expected to witness promising CAGR across the forecast period through 2018 to 2026.
Market Insights
Field of vibration energy harvesting has fascinated significant importance for low power and portable energy sources, credited to rapid development and mass consumption of portable electronic device. Such energy harvesting systems witnessed immense growth over the past few years owing to ever-rising desire to produce wireless and portable electronic devices with extended lifetime. Vibration energy harvesting is a renewable and clean energy foraging source that has progressively gained massive traction across the world from the past decade for its essential applications. Such system used in areas of autonomous low power microsystems, self-powered wireless sensor networks, distributed computing, portable energy sources and others to replenish or replace conventional power sources, such as battery. The development of vibration energy harvesting systems enabled to capture, store and manage certain amounts of motion energy, transforming them into electrical energy to supply low power devices or store it for later use.
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Overall vibration energy harvesting systems market is segmented on the basis of product type and application. By application, market is commanded by the consumer electronics segment primarily due to rising demand for wireless sensing devices and low power portable electronics without external power supply. The consumer electronics market across the world projected to surpass US$ 300 Bn in 2018 along with China representing for US$ 115.52 Bn in same year. Vibration energy harvesting systems have been significantly used as apparatuses to convert ambient vibration into electrical energy that may be used directly or stored for powering electronic devices such as portable electronics, smartphones or wireless sensors networks. Vibration energy harvesting systems also find massive application in building and home automation credited to high cost saving potential during installation and maintenance. Compared to battery or copper wiring, vibration energy harvesting is the idyllic communication standards to interconnect thousands of devices in a building and find new applications in monitoring & control.
North America was the largest market for vibration energy harvesting systems in 2017 followed by Europe, primarily due to high penetration of vibration energy harvesting systems in industrial sectors such as transportation, healthcare, consumer electronics, defense and others. Further, governments and favorable public initiatives are the major drivers for vibration energy harvesting market growth. For instance, European Commission encourages the industry with incentives and investments in R&D of energy harvesting and storage devices. Vibration energy harvesting proved as a key tool for meeting the rising energy demand and saving energy. Energy harvesting enables Internet of Things (IoT) by powering sensors networks that are essential to connect and coordinate IoT devices. Growing adoption of renewable energy sources expected to drive the vibration energy harvesting systems market further and expected to witness promising CAGR across the forecast period.
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