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Wireless Power Transmission Market to Witness Steady Growth during the Forecast Period 2014-2020

04-10-2017 11:35 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Wireless Power Transmission Market to Witness Steady Growth

Wireless power transmission (WPT) or wireless power transfer refers to the transfer of energy or power from one place to another without being connecting through wires. In this, electromagnetic energy is transferred from power sources to electric loads.

Wired transmission is the most commonmode of transmitting electrical energy. Its main drawback, the loss of energy during transmission, drives the demand for wireless power transmission. Being fast and consistent, WPT can be used both for short and long range transmissions. A major advantage of WPT is low maintenance cost. However, there is a high initial cost i.e. capital cost involved in implementing the WPT. Another disadvantage is interference of microwaves with current communication systems. WPT is generally used for transfer of energy to remote areas. Major application of WPT is in consumer electronics goods such aslaptops, tablets and smartphones. The largest application of WPT is in solar-power satellites. WPT is also used in fuel-free aircrafts, fuel-free electric automobiles, robots and fuel-free rockets.

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Globally, WPT technology is being accepted positively, outdated wired power transmission tools are being replaced with the latest technology. Countries likethe U.S.are investing high on the adoption of WPT technology, to take full advantage of their power system networks and reduce the installation cost of overhead cables. This technology is still in its initial stage, which providesa huge opportunity for new entrants to enter this market,conditional to their acceptance of the high capital cost. The main drivers for the market area huge demand by the battery functioned devices globally and decrease in high tension on Head Cables.Market is expected to show a double digit growth rate in coming five years (2015-2020). The growth is majorly driven by need of technological advancement and new wireless power transmission applications such as solar-power satellites.

Market segmentation for WPT is basedon application, technology,transmission types, transmission range andgeography. The application segment includes consumer electronics, healthcare, automotive and defence. Consumer electronics are further sub-divided into mobile phones, tablets, laptops and wearable electronics. Technological segmentation includes near-field or non-radioactive techniques and far-field or radioactive techniques.On the basis of transmission types, the market is segmented into devices with and without battery. The market is also segmented on the basis of transmission range which include short, medium and long ranges. The regional or geographical segmentation includes regions such as North America, Latin America, Asia Pacific, Japan, Western Europe, Eastern Europe, and Middle East & Africa.

Majorplayersinvolved in the wireless power transmission market are Qualcomm, Leggett & Platt, ConvenientPower HK, Energizer Holdings, Inc. and Integrated Device Technology, Inc. Other important companies are Powermat Technologies Ltd., Plugless Power, Texas Instruments, Murata Manufacturing Co., Ltd. and WiTricity. The common strategy adopted by players are product development and a focus on research & development activities.

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WPT technology helps make life easy and comfortable. WPT is much better than thetraditional form of power transmission. It’s an efficient technology which helpsin decreasingenergy crises and energy loss. In the near future,the world will completely shift towards wireless technologyand use of wireless devices, as well as wireless power transmission, will be evermore, creatinga good opportunity for players in this market.

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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