wireless transmission of electricity Market – Overview
The wireless transmission of electricity Market is growing with the rapid pace; mainly due to its application in the consumer electronics. According to a recent study report published by the Market Research Future, The Wireless Power Transmission market has been increasing and is expected to gain prominence over the forecast period. The market is expected to grow further continuing with the trend at a rapid pace in the years to come. The global wireless power transmission is expected to reach to USD ~12 billion by the end of 2022 with ~24% CAGR during forecast period 2016-2022
The key drivers contributing to the growth of the Wireless Transmission of Electricity Market are consumer’s preference for wireless connectivity, need for effective charging systems and features such as reliability, efficiency, fast, low maintenance cost. Also, increasing growth in consumer electronics market in countries such as South Korea and Japan and rising need for battery powered equipment are driving the growth of the market. Furthermore, awareness about battery technology is also fuelling the growth of the market. However, the high cost associated with wireless power technology and lack of infrastructure associated with wireless power devices are hindering the growth of the wireless power transmission market. Alternatively, the growing efficiency of power transmission is expected to create an opportunity in the market.
The technology around electricity transmission and distribution is continuously evolving, and under favourable conditions, “receiving wireless electricity just like a cell phone call” is just around the corner.
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The Global wireless transmission of electricity Market has been segmented on the basis of technology, receiver, transmitter and region. By technology, the market has been bifurcated into Inductive, Magnetic Resonance, Conductive, RF among others. On the basis of receiver the market can be segmented as smartphones, gadgets and wearable electronics among others. On the basis of transmitter the market includes- standalone charger, electric vehicle charging, industrial and industrial among others. Further, the market has been segmented into four regions which include- North America, Europe, Asia-Pacific and RoW.
On the basis of transmitter, the market can be segmented into automotive, industrial among others. Out of these, the automotive segment accounted for the largest market share. The technology is improving as more number of companies is launching competitive products.
The key players of wireless transmission of electricity Market 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.
Regionally, North America accounted for the largest market share especially in the countries such as U.S majorly due to high investments on the adoption of wireless power technology and also reduction of the overhead installation costs. Whereas European region is expected to grow at a fast pace over the forecast period 2016-2022. European market is expected to grow over the forecast period as the region being one of the early adopters of this technology and wireless power transmission is especially used in electric vehicles and wearable electronics, hence it is expected to boost the market. For instance, EGVI (European Green Vehicle Initiative Association) has undertaken UNPLUGGED and FABRIC projects on wireless charging of electric vehicles.
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Table OF Contents
- Executive Summary
- Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
- Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Value Chain Analysis
3.4 Porter’s Five Forces Analysis
- Global Wireless Power Transmission Market, By Technology
4.3 Magnetic Resonance
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