The wireless power transmission market to grow from USD 2.5 billion in 2016 to USD 11.3 billion by 2022, at a CAGR of 23.2% between 2017 and 2022.

The key factors driving the growth of the market include the convenience offered by and consumer preference for wireless connectivity and need for effective charging systems. However, the impact of uncertified and non-standardized products on the industry coherence leads to poor user experience and high cost of wireless power transmission technology-based devices are the key restraining factors for market growth.

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Wireless power transmission market for inductive technology to hold largest share of the market during forecast period

Currently, wireless power transmission is based on the two technologies; inductive and magnetic resonance. Inductive technology has almost commoditized in the wireless power transmission market, especially for the consumer electronics applications; therefore, held the largest market share in 2016. Smartphones, tablets, wearable devices are some key applications of the inductive wireless power transmission. On the other hand, magnetic resonance technology is yet to mainstream.

Wireless power transmission market for smartphones receiver application to hold largest size of wireless power transmission technology from 2017 to 2022

Smartphones is the largest receiver application for wireless power transmission technology owing to the adoption of inductive wireless power transmission in various smartphones in the past years. Samsung Galaxy Series, Motorola Droid phones, and Google Nexus phones are some notable smartphones, which have wireless charging capabilities. Samsung Electronics Co., Ltd. (South Korea) has a major product portfolio of smartphones integrated with wireless charging receiver capabilities.

Wireless power transmission market in APAC to hold the largest share of the market during forecast period

APAC is considered as the manufacturing hub for consumer electronic products such as smartphones, tablets, laptops, and wearable devices. It’s huge population and rapid urbanization in the past has led to the significant demand for devices. Thus, the presence of large consumer electronics industries in the counties such as China, Japan, India, and South Korea has attributed to the huge market size of the APAC region in the global wireless power transmission technology market.

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Key Market Players

Texas Instruments, Inc. (US), Qualcomm, Inc. (US), Integrated Device Technology, Inc. (US), Semtech Corp. (US), Toshiba Corp. (Japan), Panasonic Corp. (Japan), and Rohm Co., Ltd. (Japan) were the major players in the wireless power transmission market.