Global Wireless Power Transmission Market: Snapshot
Prominent market players in the global wireless power transmission market have been leveraging carefully-considered strategic alliances with global technology providers in order to bolster their positions. The market, at present, is being benefitted by a number of growth drivers. Most prominent among them is the widespread industrialization and urbanization, which has uplifted the standard of living and spending capacity of people, worldwide. This has resulted in increased digitization, which is serving to up demand for wireless power transmission as the technology does away with the need for cables and provides clutter-free charging.
Demand for digitization and uptake of smart lightning, wireless charging roads for electric vehicles and bullet trains is serving to catalyze growth in the market. Some of the unique perceived benefits of wireless power transmission serving to boost its uptake are operational efficiency and minimization of electric loss.
The initial cost of investment for wireless power transmission is high. Growing demand for wireless charging in consumer electronics, medical devices, and automotive industries, however, helps to counter-balance the high initial costs. Wireless power transmission are used in military applications, such as robots, wireless charging tech to help soldiers, and sensors used in submarines.
Owing to so many growth drivers, the global wireless power transmission market is predicted to expand at a cracking pace. A report by Transparency Market Research projects the market to register a CAGR of 19.2% from 2017 to 2025 to become worth US$17.15 bn by 2025 from US$3.6 bn in 2016.
Affordability Drives Demand for Inductive Coupling Segment
The global wireless power transmission market can be segmented based on various parameters such as application, technology, and range. Depending upon technology, for example, the wireless power transmission market can be divided into inductive coupling, resonant inductive coupling, capacitive coupling, and others, including microwave, laser beam, radio frequency, etc. Of them, the segment of inductive coupling grossed maximum revenue in 2016, owing to its reliability, cost, and ease in availability. In the upcoming years too, the segment is predicted to retain its leading share vis-à-vis revenue. In terms of growth rate, on the other hand, the segment of radio frequency technology is predicted to rise at steady pace in the foreseeable future because of its demand in small devices such as wearable and medical devices.
North America to Overtake Asia Pacific Market Vis-à-vis Revenue by 2025
Based on geography, the key segments of the global wireless power transmission market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific accounted for a leading share of 40.0% in the market in 2016. By clocking a CAGR of 15.8% from 2017 to 2025, the revenue in the region will likely become US$5.1 bn by 2025.
However, North America is expected to lead the wireless power transmission market during the forecast period by registering a CAGR of 20.5% between 2017 and 2025. At this rate, the revenue in the market will reach US$5.6 bn. Europe is another key market. The superiority of the three regions stems from the fact that the Middle East and Africa and Latin America lack qualified manpower and depend on the three for technological progress.
Some of the prominent participants in the global wireless power transmission market are Qualcomm Technologies, LG Electronics Inc., SAMSUNG ELECTRONICS Co., Ltd., Inc., Murata Manufacturing Co., Ltd., and Texas Instruments Inc.
Global Wireless Power Transmission Market: Overview
This report analyzes and forecasts the market for wireless power transmission at the global and regional level. The market has been forecast based on revenue (US$ Mn) from 2017 to 2025. The study includes drivers and restraints of the global wireless power transmission market. It also covers the impact of these drivers and restraints on 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 level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global wireless power transmission market. Porter’s Five Forces model for the wireless power transmission market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides the estimated market size of wireless power transmission for 2016 and forecast for the next nine years. The global market size of wireless power transmission has been provided in terms of revenue. Market numbers have been estimated based on key technology, range, application, and regional segments of wireless power transmission market. Market size and forecast for each major technologies, ranges, and applications have been provided in terms of global and regional/country markets.
Global Wireless Power Transmission Market: Segmentation
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 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 demand for individual end-user segments in all the regions.
Global Wireless Power Transmission Market: Competitive Analysis
The study includes profiles of major companies operating in the global wireless power transmission market. Key players in the wireless power transmission market include SAMSUNG ELECTRONICS Co., Ltd., LG Electronics Inc., Qualcomm Technologies, Inc., Texas Instruments Inc., Murata Manufacturing Co., Ltd, and others. 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 growing demand for wireless charging devices, increase in purchasing power, high degree of suitability, operation efficiency, low maintenance cost, digitalization, growing infrastructural activities, innovations of several technologies and ranges to form a complete wireless power transmission solution for various applications, such as consumer electronics, healthcare devices, and automotive.
Global Wireless Power Transmission Market: Research Methodology
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry 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, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports, World Economic Forum, CBI Ministry of Foreign Affairs, Factiva, etc.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. 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
- 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)