Global Wireless Power Transmission Market Projected to Reach US$ 17.15 Bn by 2025

Transparency Market Research has released a new market report titled “Wireless power transmission Market (Technology, Range, Application, and Region) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast -– 2017–2025.” According to this report, the wireless power transmission market was valued at US$ 3.6 Bn in 2016 and is projected to reach US$ 17.15 Bn by 2025, at a CAGR of 19.2% from 2017 to 2025.

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Global standard of living has increased due to rapid industrialization and rise in urbanization. Demand for digitization and infrastructural development such as smart lightning, wireless charging roads for electric vehicles and bullet trains has been increasing significantly. This has propelled the usage of wireless power transmission technology, thereby encouraging wireless power transmission technology providers and system manufacturers across the globe to develop efficient products and solutions. In 2013, the European Corporation in Science and Technology (COST) initiated the Wireless Power Transmission for Sustainable Electronics (WiPE) program, with the aim to focus on efficient wireless power transmission circuits and systems, which are specially designed for battery-less systems. This is expected to lead to market transformation; it is likely to result in new and highly efficient wireless power transmission technologies, such as the resonant inductive coupling and radio frequency technologies, for small, medium, and large-sized technology providers and system manufacturers.

Middle East & Africa and Latin America lack qualified manpower. These regions depend upon Asia Pacific, North America, and Europe for technological advancements. Allocation of large funds by governments of countries such as India, Canada, Japan, and South Korea toward industrialization and urbanization projects is anticipated to create immense opportunities for the wireless power transmission market in the near future. Increase in focus on the renewable energy sector is predicted to revive energy production globally, which would consequently generate higher demand for wireless power transmission technology. Rising demand for consumer electronics such as smartphones and laptops, especially in India, South Korea, Japan, China, etc., has contributed to an overall shift in market trends. Moreover, R&D activities have led to major innovations across various end-use industries, such as in powering implanted pacemakers and neurotransmitters. There has been an increase in investments in technological advancements in the wireless power transmission enabled equipment manufacturing industry in North America. In Europe, stringent regulations on carbon emission are expected to boost the demand for wireless power transmission in the near future.

The wireless power transmission market has been segmented into three categories: technology, range, application, and region. In terms of region, the wireless power transmission market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In 2016, Asia Pacific dominated the wireless power transmission market with more than 39% share. However, North America is expected to lead the wireless power transmission market during the forecast period.

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Key players in the wireless power transmission market are expected to benefit from the formation of strategic alliances with global technology providers in the wireless power transmission market. Prominent players in the wireless power transmission market include LG Electronics Inc., SAMSUNG ELECTRONICS Co., Ltd., Qualcomm Technologies, Inc., Texas Instruments Inc., and Murata Manufacturing Co., Ltd..

The wireless power transmission market has been segmented as follows:

Global Wireless Power Transmission Market: By Technology

  • Inductive Coupling

  • Resonant Inductive Coupling

  • Capacitive Coupling

  • Others (Microwave, Laser Beam, Radio Frequency, etc.)

Global Wireless Power Transmission Market: By Range

  • Near Field

  • Far Field

Global Wireless Power Transmission Market: By Application

  • Consumer Electronics

  • Healthcare

  • Automotive

  • Industrial

  • Others (Drones, SPS, etc.)

Global Wireless Power Transmission Market: Regional Analysis

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Italy

    • Russia

    • France

    • Germany

    • Rest Of Europe

  • Asia Pacific

    • China

    • India

    • Japan

    • ASEAN

    • Rest Of Asia Pacific

  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America

  • Middle East & Africa (MEA)

    • GCC

    • South Africa

    • Rest of MEA

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