According to the latest report by IMARC Group, titled “Wireless Power Transmission Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global wireless power transmission market witnessed double-digit growth during 2014-2019. Wireless power transmission (WPT) is the technology that enables the transferring of electrical energy from a power source to a device without the requirement of wires as a physical link. WPT uses microwaves, solar cells and resonance to transmit time-varying electromagnetic field from the source to the receiver device. The transmitter coil is powered by alternating current (AC), which generates the magnetic field that further induces a voltage in the receiver coil. The elimination of interconnecting wires consequently improves the mobility and safety of electronic devices for users.
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The market is primarily driven by the increasing uptake of consumer electronics on the global level. This, along with the growing awareness regarding the benefits offered by WPT technology among the masses, has contributed to the escalating demand for effective and low maintenance wireless charging systems for laptops, smartphones and digital cameras. The WPT technology is also being utilized in the robotics and defense sectors to be used in the hassle-free operations of robots and drones. The market is further driven by the rising demand for smart charging systems for electric vehicles (EVs). EVs that are integrated with in-motion (dynamic) and inductive WPT charging systems require the use of smaller batteries that aid in reducing carbon emissions and improving the overall efficiency of the automobiles. Facilitated by an enhanced focus on sustainable development, this is expected to provide an impetus to the market growth. Furthermore, governments of numerous countries are heavily investing in the adoption of WPT technology for improving their existing power distribution systems. The employment of the technology is expected to reduce the overall costs of electricity transmission across the globe significantly. This, coupled with the rising installation of WPT-based smart grids, is anticipated to create a positive outlook for the market. On account of the aforementioned factors, the global wireless power transmission market is expected to exhibit strong growth during 2020-2025.
- On the basis of the type, the market has been bifurcated into devices with battery and without battery.
Market Breakup by Technology:
- Near-Field Technology
- Magnetic Resonance
- Capacitive Coupling/Conductive
- Far-Field Technology
Market Breakup by Implementation:
Market Breakup by Receiver Application:
- Wearable Electronics
- Electric Vehicles
Market Breakup by End-User:
- Consumer Electronics
- Power Generation
Market Regional Summary:
On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
Competitive Landscape with Key Player:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include:
- Energous Corporation
- Humavox Ltd.
- Renesas Electronics Corporation
- Leggett & Platt
- Murata Manufacturing Co. Ltd
- Qualcomm Technologies Inc.
- Samsung Electronics Co. Ltd.
- TDK Corporation
- Texas Instruments Incorporated
- Wi-Charge Ltd
- WiTricity Corporation.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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