Parameter-efficient transfer learning (PETL) aims to reduce the scales of pre-trained models for multiple downstream tasks. However, as the models keep scaling up, the memory footprint of existing PETL methods is not significantly reduced compared to the reduction of learnable parameters. This limitation hinders the practical deployment of PETL methods on memory-constrained devices. To this end, we proposed a new PETL framework, called Structure to Activation (S2A), to reduce the memory footprint of activation during fine-tuning. Specifically, our framework consists of: 1)Activation modules design(i.e. bias, prompt and side modules) in the parametric model structure, which results in a significant reduction of adjustable parameters and activation memory 2) 4-bit quantisation of activations based on their derivatives for non-parametric structures (e.g., nonlinear functions), which maintains accuracy while significantly reducing memory usage. Our S2A method consequently offers a lightweight solution in terms of both parameter and memory footprint. We evaluate S2A with different backbones and conduct extensive experiments on various datasets to evaluate the effectiveness. The results show that our method not only outperforms existing PETL techniques, achieving a fourfold reduction in GPU memory footprint on average, but also shows competitive performance in accuracy with lower tunable parameters. These also demonstrate that our method is highly suitable for practical transfer learning on hardware-constrained devices.