The global wireless power transmission market is likely to register a substantial growth in the span of forthcoming years. The key players operating in the wireless power transmission market are LG Electronics Inc., Qualcomm Technologies, SAMSUNG ELECTRONICS Co., Ltd., Inc., Texas Instruments Inc., and Murata Manufacturing Co., Ltd. A key system utilized by them is cautiously analyzed as key partnerships with international innovation suppliers in the wireless power transmission market.
According to a recent report by Transparency Market Research, the global wireless power transmission market is prognosticated to project a whooping CAGR of 19.2% within the forecast 2017 to 2025 to end up worth US$17.15 bn by the end of 2025 from US$3.6 bn in year 2016.
In terms of technology, for instance, the wireless power transmission market can be classified into resonating inductive coupling, inductive coupling, capacitive coupling, and so on, including laser bar, microwave, radio frequency, and others. Among these, in 2016, inductive coupling earned most highest revenue, inferable from its cost, sustainability, and easy availability. In the forthcoming years as well, the mentioned segment is anticipated to hold its highest share in terms of revenue. Geographically, in 2016, Asia Pacific region represented a major share of 40.0% in the market. By timing a CAGR of 15.8% from 2017 to 2025, the revenue is likely to surge around worth US$5.1 bn by the end of 2025.
Infrastructural Advancement to Boost Demand in Market
The general way of life has improved around the world, on account of rapid industrialization and wild urbanization. "Demand regarding digitization and infrastructural advancement, for example, smart lightning, wireless charging streets for electric vehicles and bullet trains has been expanding fundamentally. This has impelled the utilization of wireless power transmission innovation, along these lines empowering wireless power transmission innovation suppliers and framework makers over the globe to create effective items and arrangements," clarifies the lead examiner of the report.
Noticeable market players in the worldwide wireless power transmission market have been utilizing cautiously thought to be key unions with worldwide innovation suppliers so as to reinforce their positions. Various development drivers is profiting the market, at present. Most noticeable among them is the far reaching industrialization and urbanization, which has elevated the way of life and spending limit of individuals, around the world. This has brought about expanded digitization, which is serving to up interest for wireless power transmission as the innovation gets rid of the requirement for links and gives mess free charging.
Growth in digitization and take-up of smart lightning, wireless charging streets for electric vehicles and bullet trains is serving to catalyze development in the market. Among the one of a kind advantages of wireless power transmission serving to help its take-up are operational proficiency and minimization of electric misfortune.
High Initial Cost to Obstruct Overall Market Growth
The underlying expense of venture for wireless power transmission is high. Developing interest for wireless charging in purchaser gadgets, therapeutic gadgets, and car enterprises, be that as it may, counters balance the high starting expenses. Wireless power transmission are utilized in military applications, for example, robots, wireless charging tech to help troopers, and sensors utilized in submarines.
One downside in the wireless power transmission market is the underlying expense of investments, which is high. The surging demand for wireless charging in customer gadgets, healthcare gadgets, and automobile enterprises is beating this challenge.
The information in this preview comes from a Transparency Market Research report titled “Wireless Power Transmission Market (Technology - Inductive Coupling, Resonant Inductive Coupling, and Capacitive Coupling; Range - Near Field and Far Field; Application - Consumer Electronics, Healthcare, Automotive, and Industrial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
The wireless power transmission market has been segmented as follows:
- Inductive Coupling
- Resonant Inductive Coupling
- Capacitive Coupling
- Others (Microwave, Laser Beam, Radio Frequency, etc.)
- Near Field
- Far Field
- Consumer Electronics
- Others (Drones, SPS, etc.)
- North America (U.S., Canada)
- Europe (Germany, France, U.K., Russia, Italy, Rest of Europe)
- Asia Pacific (China, Japan, India, ASEAN, Rest of Asia Pacific)
- Middle East & Africa (GCC, South Africa, Iran, North Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Mexico, Rest of Latin America)
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