Wireless Power Transmission Market : Worldwide Industry Analysis and New Market Opportunities Explored
The concept of wireless power transmission or transfer dates back to the mid-18th century when Nikola Tesla, a prominent contributor to the design of alternating current (AC) power supply systems, first worked on wireless power transmission projects. Wireless power transfer allows to lose the limitation of a power cord while keeping electrical devices constantly charged. Solar cells, resonance, and microwaves are the three principal systems employed for wireless power transmission. This concept is expected to resolve the complicated energy crisis concerning the entire world to this day.
Global Wireless Power Transmission Market: Key Trends
The global wireless power transmission market is expected to rise at a sturdy CAGR between 2017 and 2025 on account of certain factors propelling the growth. The requirement of effectual charging systems and surging consumer preference for wireless connectivity and the convenience offered are prognosticated to raise the hopes of vendors operating in the global wireless power transmission market. In the years to come, the global wireless power transmission market could witness the rise of the magnetic resonance technology making way into the introductory phase and inductive technology into the growth phase.
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Smartphone giant Samsung Electronics Co., Ltd. headquartered in South Korea possesses a powerful line of smartphones that flaunt the capabilities of a wireless charging receiver. Some of the popular smartphone series other than Samsung Galaxy that carry wireless charging capabilities are Google Nexus and Motorola Droid. The adoption in a range of smartphones in the inductive wireless power transmission market is predicted to hoist smartphones as a larger receiver application.
Lack of common standards raising compatibility issues and trade-offs between safety, efficiency, and range of wireless power transmission is prophesied to injure the growth of the global wireless power transmission market to some extent. However, opportunities in various segmentation markets such as integrated implementation and induction technology are predicted to compensate for the effect of deterrents in the global wireless power transmission market.
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Global Wireless Power Transmission Market: Market Potential
A demonstration test of a motor-assisted bicycle was initiated in Kyoto Prefecture by a team functioning in the Kyoto University. The bicycle is capable of wirelessly receiving charge by merely parking it facing a charger stand. The front wheel of the bicycle is docked in a rack where power is drawn in the form of microwaves with the help of a battery pack and a receiver. The testing began early in March 2017. A differentiating aspect noticed is that the charging is only done late night to avoid potentially harmful contact of humans with microwaves equaling a 100 watts. The charging is designed in such a way that it stops as soon as anybody comes within a particular range.
Global Wireless Power Transmission Market: Regional Outlook
The international wireless power transmission market is anticipated to see Asia Pacific receive a telling traction in terms of market size due to the snowballing presence of a significant number of consumer electronics industries. Countries such as South Korea, India, Japan, and China could lead the Asia Pacific wireless power transmission market from the front. Swift urbanization and aggressively increasing population are the other growth aspects of Asia Pacific in the wireless power transmission market. Researchers also point out Asia Pacific being a mammoth manufacturing hub of consumer electronics as another factor augmenting the progress of the regional wireless power transmission market.
Global Wireless Power Transmission Market: Competitive Landscape
TDK Corp., Integrated Device Technology, Inc., Texas Instruments Inc., Witricity Corp., Qualcomm Inc., and Samsung Electronics Co., Ltd. could be the leading companies in the worldwide wireless power transmission market.
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