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Wireless Power Transmission Market- Analysis, Opportunity & Forecast, 2027
Global Wireless Power Transmission Market Size By Technology [Magnetic Resonance, Induction, Capacitive Coupling/Conductive], By Implementation [Aftermarket, Integrated], By Transmitter Application [Furniture, Standalone Chargers, Automotive, Industrial, Electric Vehicle Charging], By Receiver Application [Wearable Electronics, Smartphones, Tablets, Notebooks, Other Consumer Electronics], By Region [North America, Europe, Asia Pacific, Middle East & Africa and Latin America], Forecast & Opportunities, 2020-2027
Market Overview
Global Wireless Power Transmission Market is expected to grow over USD 15 billion by 2027 due to the rising demand for the convenient charging system.
Wireless power transmission transmits electromagnetic energy to electric load without the wires. It can transmit power to a remote location. It is very useful in cases where interconnecting wires are hazardous, inconvenient or impossible.
The wireless transmission market is driven by the increasing demand for charging systems. It is widely adopted in consumer electronics for charging the batteries. Major smartphone manufacturers have introduced this technology to offer consumers a convenient way of charging the batteries without the need for cable and wires. Consumers are highly interested in buying consumer electronics with wireless features as it offers them freedom of mobility and quick and easy operations.
The increasing demand for consumers’ convenient charging system and rising consumer electronics are the key drivers of the growth of the wireless power transmission market globally.
There is an inflow of low-quality uncertified products offered at low cost in the market due to high competition and safety issue of these products are some of the challenges in the wireless power transmission market globally.
Market Segmentation
Global Wireless Power Transmission Market can be segmented into Technology, Implementation, Transmitter Application, Receiver Application, and Region.
By Technology, Global Wireless Power Transmission Market can be segmented into Magnetic Resonance, Induction, Capacitive Coupling/Conductive. The Induction segment accounts for the largest market share due to its adoption in consumer electronics like smartphones, Tablets.
By Implementation, Global Wireless Power Transmission Market can be segmented into Aftermarket, Integrated. The Integrated segment is expected to grow significantly during the forecasted period of 2020-27 due to the increasing demand for integrated energy services.
By Transmitter Application, Global Wireless Power Transmission Market can be segmented into Furniture, Standalone Chargers, Automotive, Industrial, and Electric Vehicle Charging. The Standalone chargers and EV charging segment is expected to grow significantly owing to the rise of consumer electronics and driverless vehicles in the coming years.
By Receiver Application, Global Wireless Power Transmission Market can be segmented into Wearable Electronics, Smartphones, Tablets, Notebooks, Other Consumer Electronics. The smartphone segment holds the largest market share due to the increasing number of smartphone users driving the demand for the wireless power transmission market globally. Induction technology has been widely adopted in smartphones to provide wireless charging capabilities.
By Region, Global Wireless Power Transmission Market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Regional Analysis
Asia Pacific Wireless power Transmission market holds the largest market share due to the presence of large manufacturing units of consumer electronics in countries like China, South Korea, India. The rapid urbanization and increasing disposable income have boosted the demand for the wireless power transmission market in this region.
Competitors Analysis
The key competitors in the global wireless power transmission market are Samsung Electronics, Texas Instruments, Qualcomm, WiTricity Corporation, TDK Corporation, Powermat Technologies, Integrated Device Technology, NuCurrent Inc., ConvenientPower HK Ltd., PowerbyProxi Ltd, and Salcomp Plc.
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