Global Wireless Power Transmission Market- 2015 to 2025

Global wireless power transmission market is expected to achieve considerable growth, particularly in Asia Pacific region, over the forecast period. Consumer preference for wireless connectivity, owing to the convenience and ease offered by wireless charging, is expected to boost the market growth. The need for efficient, reliable, fast and cost effective charging systems is, further, expected to drive the global wireless power transmission market demand.

Technical advancements in the field of wireless power transmissions such as inductive and conductive technology, magnetic resistance and far-field technologies open avenues for the market. The inductive technology is used for charging electric and hybrid electric vehicles, creating new opportunities for easy adaptability of the technology. Resonance technology is used in smartphone and wearable electronics charging, which further promotes the technology in the global electronics arena. Features such as user friendliness along with prolonged battery life contribute to the market growth.

Despite its features which guarantee significant growth, wireless power transmission technology is dependent on battery technology displaying significant limitations. Further loss of energy during transmission inhibits the market growth. High initial cost coupled with technical issues such as interference of microwaves with current communication systems are expected to pose a challenge to the market demand. But wireless power transmission technology powering solar satellites and fuel free aircraft, rockets, automobiles, and robots creates ample opportunities for increased growth of the market. The short and long range transmission capabilities of the proposed technology open gates for the future opportunities. Transfer of energy to remote areas is anticipated to act as an opportunity for the future trends & developments in the market. Opportunities owing to wireless power transmission technology being in an initial stage, further, makes the market more preferable for the emerging players.

The market can be segmented into technology, receiver, transmitter, and application. Technology includes inductive, conductive, magnetic resonance, RF, and infrared technologies. The receiver includes smartphones, tablets, and wearable electronics. The transmitter includes standalone charger and electric vehicle. Further, an application includes automotive, defense, healthcare, banking and consumer electronics.

The regional market is classified into Europe, North America, Asia Pacific and Rest of the World (RoW). Europe being the automobile hub is the fastest growing market while North America accounts for the major market share owing to automobile and electronics innovation. Asia Pacific region is anticipated to account for major market share on account of the profound usage and increasing production of battery functioned devices. Key market players include Qualcomm Inc (US), Samsung Electronics (SK), Texas Instruments (US), TDK group (Japan), Integrated device Corp (US), Ossia Inc (US), Wi-charge (Israel), Humavox Ltd (Israel) and Filton Industries (US).

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