Wireless Power Transmission Market Worth 13.11 Billion USD by 2020
PUNE, India, January 20, 2016 /PRNewswire/ --
According to the new market research report "Wireless Power Transmission Market by Technology (Induction & Magnetic Resonance), Implementation, Receiver & Transmitter Application (Smartphones, Wearable Electronics, Electric Vehicles, & Furniture), and Region - Global Trend & Forecast to 2020", published by MarketsandMarkets, the market is estimated to reach USD 13.11 Billion by 2020, at a CAGR of 51.5% between 2015 and 2020.
Browse 70 market Tables and 68 Figures spread through 151 Pages and in-depth TOC on "Wireless Power Transmission Market.
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The factors which are driving the wireless power transmission market includes growing consumer preference towards wireless connectivity, need to charge battery-enabled devices, and ability of wireless power technology to charge multiple devices at a time.
Induction technology held the largest market share in the market
The induction technology is the oldest wireless power transmission technology which has been commercialized in the market. The induction technology is being used in many applications such as smartphones, wearable electronics, consumer electronics devices, industrial equipment, and in many others. The induction technology has proved its feasibility and utility in many applications, especially in smartphones charging. The induction technology is widely implemented in the smartphones by suppliers and therefore it accounts for the major market share in the wireless power transmission market.
The market for integrated solutions is expected to increase at the highest growth rate
The OEMs are more inclined towards integration of wireless power solutions in the devices, so as to provide the convenience, comfort, and user-friendly operations for the users. The integrated solutions market is expected to grow rapidly owing to the expected adoption of the WPT in smartphone, wearable electronics, and in other consumer electronics devices.
APAC expected to hold the largest market share and witness rapid growth during the forecast period
The wireless power transmission technology is majorly used in the smartphones. The APAC region accounted for the largest market in wireless power transmission technology owing to the region being the largest smartphone market. The major consumer electronics markets such as China, India, Japan, and South Korea are driving the growth of the APAC region in the wireless power transmission market.
This research report categorizes the global wireless power transmission market based on technology, implementation, receiver application, transmitter application, and region. This report describes the drivers, restraints, opportunities, and challenges with respect to the wireless power transmission market. The Porter's Five Forces analysis has been included in the report with a description of each of its forces and their respective impact on the wireless power transmission market.
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The major companies in the WPT market include Samsung Electronics Co Ltd. (South Korea), Qualcomm Inc. (U.S.), Texas Instruments Inc. (U.S.), TDK Corporation (Japan), WiTricity Corporation (U.S.), Integrated Device Technology, Inc. (U.S.), NuCurrent Inc. (U.S.), NXP Semiconductors N.V. (Netherlands), PowerbyProxi Ltd. (New Zealand), and Powermat Technologies Ltd (Israel) among others.
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