The Market for Vibration Energy Harvesting Systems will be stimulated by the replacement of battery-powered sensors with autonomous energy-harvesting wireless sensors.
The vibration energy harvesting systems market reached a market value of US$ 398.68 million in 2017, with a promising CAGR from 2018 to 2026. Essentially directed by North America, the market for vibration energy harvesting systems is majorly driven by its penetration across electronic systems. The rising adoption of Internet of Things (IoT) applications in industrial as well as consumer electronics aims to enhance the smartness of such devices. Numerous sensors are required to make IoT processes work, and such sensors need continuous power supplies for functionality without breakage. Typically, batteries are used to power the sensing equipment, although they possess a limited lifetime and a complex system structure due to the thousands of wireless devices; thus, significant efforts are required to replace the batteries. On the other hand, energy-harvesting-powered sensors are autonomous and require less maintenance, enabling easier installation than conventional batteries. Furthermore, vibration energy harvesting systems are more relevant in remote or hostile environments for complex and expensive battery changes. Currently, vibration energy harvesting applications are limited due to their low conversion efficiency (around 5%) and low power storage capacities; however, with continuous technological advancements aiming for its penetration across several applications, the market is expected to witness promising growth throughout the forecast period.
Market Synopsis
Consumer Electronics Segment to Cement the Dominating Position in the Vibration Harvesting Systems Market
The consumer electronics segment accounted for the lion's share of the total market value generated for vibration energy harvesting systems worldwide. Electronic hardware circuitries have become cheaper and smaller, making wireless communication more competent. This stimulated technologies such as wireless sensor networks (WSN) or the Internet of Things (IoT) to play a vital role in real-time applications. Many of these devices are embedded and need continuous running, making it inefficient to use the connected power grids as it would require proper maintenance. Vibration energy harvesting systems for small-scale electronics are used in portable forms. In the case of low-power applications such as nodes in WSN, we could not only decrease the reliance on conventional batteries but even replace them. Vibration energy harvesting has key economic and technological impacts as it facilitates the swift spread of IoT applications by providing them with an autonomous power supply and by reducing the installation and maintenance costs pertaining to conventional batteries. Therefore, vibration energy harvesting is enabling the development of technologies that would have been uneconomical without it. The penetration of such energy harvesting systems in consumer electronics is expected to grow at a rapid rate across the forecast period.
Although the market value of vibration energy harvesting in healthcare appears marginal, it is expected to grow at a higher CAGR compared to other applications. Vibration energy harvesting technologies present valuable social benefits when applied to the healthcare sector. Several organizations are currently working on creating an automated pacemaker that will convert kinetic energy from the beating of the human heart into electrical energy. The device would enable a self-charging mechanism by using the body's vibration.
Expanding Vibration Energy Harvesting System Penetration across Broad Application Areas to Ensure the Fastest Growth in the Asia Pacific Market
North America currently holds the largest share of the global market value for vibration energy harvesting systems. The United States, with its strong market for embracing new technologies across the country, primarily supports the market here. The market potential of each region depends on a combination of energy resources, electricity market structure, regulatory framework, population demographics, energy-demand patterns and trends, and general grid architecture. North America, as well as Europe, possess the majority of leading market players. Honeywell International Inc., Cymbet Corporation, Powercast Corporation, Texas Instruments Incorporation, Convergence Wireless, and Microchip Technology are U.S.-based manufacturers. Similarly, ABB Ltd., Arverni, and EnOcean GmbH are all Europe-based companies. Furthermore, Asia-Pacific is expected to witness the highest growth rate across the forecast period. An increasing focus on the use of renewable energy is expected to drive the market here. Japan declared its intention to become a world leader in renewable energy usage by 2030. Similarly, China is the main manufacturer of vibration energy harvesting systems across the Asia Pacific market. The market is expected to be driven by the rapid growth of end-use applications such as consumer electronics, industrial, transportation, and others.
Harvesting System Technological Advancement to Remain a Key Strategy for Vibration Energy Harvesting System Manufacturers
Vibration energy harvesting systems are a highly competitive market, with both domestic and international players. A number of players are concentrating on the technological advancement of products to specialize in explicit application areas. Numerous players and startups are expected to massively penetrate the market despite the heavy investments required to enter the market, owing to the attractive growth opportunities. Key players in the global vibration energy harvesting systems market include Honeywell International Inc., Arverni, Cymbet Corporation, Convergence Wireless, Fujitsu Ltd., Powercast Corporation, Texas Instruments Incorporated, Microchip Technology, ABB Ltd., STMicroelectronics N.V., EnOcean GmbH, and others.
Periods of History and Forecast
This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments was calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
The vibration energy harvesting systems market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global market for vibration energy harvesting systems based on product type, application, and geography. Key segments covered in the report are as follows:
Key questions are answered in this report.
What was the market size of vibration energy harvesting systems in 2017, and what is the forecast up to 2026?
Which is the largest regional market for vibration energy harvesting systems?
What are the key market trends for vibration energy harvesting systems, as well as the outlook for the electromechanical industry?
What are the most promising product types and applications for vibration energy harvesting systems on the market?
Who are the key players leading the market?
What are the key strategies adopted by the leading players in the market?
What are the key application industry trends across different geographies and sub-geographies?
Frequently Asked Questions:
The market for Vibration Energy Harvesting Systems is expected to reach US$ 398.68 Mn in 2026.
The Vibration Energy Harvesting Systems market is expected to see significant CAGR growth over the coming years, at XX%.
The report is forecasted from 2018-2026.
The base year of this report is 2017.
Honeywell International Inc.,Arveni,Cymbet Corporation,Convergence Wireless,Fujitsu Ltd. are some of the major players in the global market.
