Market Research Future (MRFR)’s latest study reveals that the global wireless power transmission market is set to thrive at an exponential CAGR of 24% during the forecast period 2016 to 2022. The valuation of the global market is poised to reach USD 12 Bn by the end of 2022. Wireless power transmission offers certain benefits such as convenience, prolonged battery life, lower energy consumption, etc. which is likely to fuel demand for the technology.
The shift in consumer behavior toward wireless technology is estimated to have a favorable impact on the proliferation of the market. Furthermore, the excessive need for efficient charging systems, reliability, low maintenance cost, etc. has intensified the adoption of wireless power transmission solutions. The trend is poised to perpetuate in the upcoming years.
The growth of the consumer electronics industry directly reflects on the expansion of the Wireless Power Transmission Market. Additionally, the increasing awareness about battery technology is another major factor influencing the growth of the global market positively. However, high cost associated with wireless power technology remains an impediment to the proliferation of the wireless power transmission market.
Feb 2019 Rohm has recently declared the development of an automotive wireless-charging solution with unified near-field communication (NFC). It combines STMicroelectronics’ NFC Reader IC (ST25R3914) with Rohm’s automotive-grade (AEC-Q100 qualified) wireless power transmission control IC (BD57121MUF-M) and 8-bit microcontroller (STM8A series).
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The key players of global wireless power transmission report include Ossia, Inc. (U.S.), Wi-Charge Ltd. (Israel), Energous Corporation (U.S.), Humavox Ltd. (Israel), Fulton Innovation LLC (U.S.), Qualcomm Inc. (U.S.), Texas Instruments Inc. (U.S.), Integrated Device Technology, Inc. (U.S.), Semtech Corp. (U.S.), Toshiba Corp. (Japan) and others.
The analysis of the segments of the wireless power transmission market has been carried out on the basis of technology, transmitter, receiver, and region. On the basis of technology, the wireless power transmission market has been segmented into Magnetic Resonance, Inductive, Conductive, RF among others. On the basis of receiver, the wireless power transmission market is segmented into gadgets, smartphones, and wearable electronics among others. Based on the transmitter the wireless power transmission market consists of electric vehicle charging, standalone charger, industrial and industrial among others. The segmentation of the wireless power transmission market on the basis of geography comprises of Europe, North America, Asia Pacific and rest of the world. By transmitter, the wireless power transmission market can be segmented into industrial and automotive among others.
Detailed Regional Analysis
The regions covered in the wireless power transmission market are Europe, North America, Asia Pacific and rest of the world. The North American region is accredited with the principal market share particularly in the nations such as the U.S, chiefly owing to increased investments on the implementation of wireless power technology and also lessening of the overhead installation charges. The European regional market is anticipated to expand over the forecast period as the region is one of the initial adopters of this technology and wireless power transmission is particularly used in wearable electronics and electric vehicles. Hence it is anticipated to lift the market’s growth over the course of the forecast period.
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- Wireless Power Transmission Manufacturers
- Research firms
- Consultancy firms
- Semiconductor Manufacturers
- End-user sectors
- Technology Investors
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