Wireless Power Transmission Market - Snapshot

Wireless power transmission is transfer of electric energy from one place to another, without the use of conductors such as wires and cables. In wireless power transmission, electric energy is transmitted from a power source to electric loads such as mobile phones and laptops. The use of wireless power transmission has increased. It has opened new avenues for energy management, hassle-free charging, and efficient power transfer.

Several factors drive the demand for wireless power transmission

Advancements in wireless power transmission are increasing in terms of technologies such as resonant inductive coupling and radio frequency. Factors driving the demand for wireless power transmission are high operational efficiency, minimization of electricity loss, rise in the use of network communications, digitization, and development of infrastructure. The initial cost of investment for wireless power transmission is high. However, this technology eliminates use of cables while providing clutter-free charging. Rising demand for wireless charging in industries such as consumer electronics, medical devices, and automotive counterbalances these high initial costs. Additionally, wireless power transmission is used in military applications such as robots and wireless charging technology to help soldiers. It is also applied in sensors used in submarines.

One of the major advantages of wireless power transmission is its low maintenance cost. Moreover, rise in the need for technological advancements, high demand for battery-operated devices, and increase in the application of solar power satellites, drones, and sensors are expected to drive the wireless power transmission market during the forecast period.

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Lack of necessary regulations hindering the market

Several regulations have been implemented with respect to the permissible range of wireless power transmission in order to control the extent of human exposure to radio frequencies. Moreover, rise in the need for standards to ensure cross-platform compatibility is also promoting growth of the wireless power transmission market. This can be achieved through regulations. Technology utilized for wireless power transmission is primarily inductive coupling (Qi standard) or magnetic resonance (A4PM standard). Presence of different charging techniques has resulted in confusion for OEMs, component providers, and customers also, in terms of standard adoption.

Product portfolio expansion presents key opportunities

Companies operating in the market are focused on the development of new products to be launched in the near future, with the help of extensive R&D activities in the fields of magnetic resonance and short-range RF technologies. Moreover, increasing use of the wireless charging technology in health care and industrial sectors is anticipated to augment the market in the near future.

High initial cost of investment poses a threat to the market

High initial cost of investment is anticipated to hamper the entry of new players into the market in the near future. However, governments of different countries are encouraging investments in the wireless power transmission market. This has resulted in rise in the number of market players. Thus, threat of new entrants is expected to remain high during the forecast period.

Governments initiating various R&D projects related to wireless power transmission

The National Aeronautics and Space Administration (NASA), which functions under the U.S. Department of Energy (DoE), has realized benefits of using solar power satellites enabled by the wireless power transmission technology to overcome the energy crisis across the world. Various R&D projects to this effect are being implemented all over the world by agencies such as NASA, JAXA, and SPACE Canada. Thus, the rising need for efficient power transfer methods is anticipated to drive the wireless power transmission market in the next few years.

Inductive coupling, near field, and consumer electronics anticipated to be dominant segments

The wireless power transmission market has been segmented based on technology, range, and application. In terms of technology, the market has been classified into inductive coupling, resonant inductive coupling, capacitive coupling, and others (including microwave, laser beam, radio frequency, etc.). In terms of revenue, the inductive coupling segment held a major market share in 2016, owing to reliability, cost, and ease in the availability of inductive coupling. The segment is expected to dominate the market during the forecast period.

Based on range, the wireless power transmission market has been segregated into near field and far field. In terms of revenue, the near field segment held a leading market share in 2016. However, major R&D projects are being implemented in the far field segment owing to high demand for far-field-range wireless power transmission in various applications such as automotive, industrial, and solar power satellites. Based on application, the wireless power transmission market has been divided into consumer electronics, health care, automotive, industrial, and others (including drones, SPS, etc.). The consumer electronics segment constituted a major market share in 2016, followed by the health care segment.

Asia Pacific held a major share of the global market in 2016

In terms of region, the global 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 global wireless power transmission market, holding more than 40% of the market share. However, North America is expected to lead the global wireless power transmission market during the forecast period.

Several small players operate in the market

Small players operating in the market are expected to benefit from formation of strategic alliances with global technology providers. Large players operating in the market are LG Electronics Inc., Samsung Electronics Co., Ltd., Qualcomm Technologies, Inc., Texas Instruments Inc., and Murata Manufacturing Co., Ltd.

Wireless Power Transmission Market - Overview

Wireless power transmission is transfer of electric energy without the use of conductors. This is generally achieved by connecting a wireless transmitter to a power source. The field energy generated in the power source is transmitted to one or more receivers by the transmitter. The receivers i.e. receiving devices again convert the field energy into the electric current and use it for their functioning.

This report analyzes and forecasts the market for wireless power transmission at the global and regional levels. The market has been forecast based on revenue (US$ Mn) from 2018 to 2026. The study includes drivers and restraints of the global wireless power transmission market. It also covers the anticipated impact of these drivers and restraints on the demand for wireless power transmission during the forecast period. The report also highlights opportunities in the wireless power transmission market at the global and regional levels.

The report comprises detailed value chain analysis, which provides a comprehensive view of the global wireless power transmission market. The Porter’s five forces model for the wireless power transmission market has also been included to help understand the competition landscape of the market. The study encompasses market attractiveness analysis, wherein application segments have been benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the global wireless power transmission market by segmenting it in terms of technology, range, application, and region. These segments have been analyzed based on the present and future trends. Regional segmentation includes the current and forecast demand for wireless power transmission in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers the demand for individual application segments in all regions.

The study includes profiles of major companies operating in the global wireless power transmission market. Key players in the market include Samsung Electronics Co., Ltd., LG Electronics Inc., Qualcomm Technologies, Inc., Texas Instruments Inc., and Murata Manufacturing Co., Ltd. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. The market for wireless power transmission is primarily driven by the rising demand for wireless charging devices, increasing purchasing power, high degree of suitability, high operational efficiency, low maintenance costs, digitalization, growing infrastructural development, and innovations of several technologies.

The report provides market size of the wireless power transmission market for 2017 and forecast for the next nine years. The market size has been provided in terms of revenue. Market numbers have been estimated based on key technology, range, application, and regional segments of the wireless power transmission market. The market size and forecast for each major technology, range, and application segment have been provided for the global and regional/country-level markets.

In order to compile the research report, in-depth interviews and discussions were conducted with a number of key market participants and opinion leaders. Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents have been reviewed for competition analysis and market understanding. Secondary research includes search of recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proved to be a highly reliable, effective, and successful approach for obtaining the precise market data, capturing market participants’ insights, and recognizing business opportunities.

Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, internal and external proprietary databases, relevant patent and regulatory databases, national government documents, statistical databases, market reports, news articles, press releases, and webcasts specific to companies operating in the market.

Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market segment and sub-segment across all geographies. We conduct primary interviews on an ongoing basis with market participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competition landscape, and market outlook. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.

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
  • Health Care
  • Automotive
  • Industrial
  • Others (Drones, SPS, etc.)

Global Wireless Power Transmission Market, by Region/Country/Sub-region

  • 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)
.