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.

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=168050212

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.

Market Dynamics

Driver: Convenience offered by and consumer preference for the wireless connectivity

Currently, wireless connectivity technologies are being adopted at a high rate. The user wants to get rid of the wired connectivity because of its complexity. Nowadays, consumers expect robust wireless services everywhere including smartphones, notebooks, MP3 players, and digital cameras. Wireless connectivity offers users the freedom of mobility, quick and easy accordance, and handy operations which is why the wireless charging technology is highly deployed in consumer electronics such as smartphones, tablets, and wearable devices. This increasing “go-wireless” tendency of consumers is driving the market for the wireless power transmission technology. Many companies are providing wireless charging-enabled devices that are user friendly, cost effective, and has lifespan of 10 to 15 years. This results into the increasing demand for these devices in the market.

Restraint: Impact of uncertified and non-standardized products on the industry coherence leads to poor user experience

The wireless power transmission technology has become crucially important nowadays due to its successful implementation into consumer electronic products. Thus, to fulfil the increasing demand, various players, including start-up companies along with their innovative ideas, are entering the market to offer the wireless power transmission technology. This increases competitive pressures among the suppliers of wireless power transmission technology-based products. It is challenging for the Wireless Power Consortium (WPC) and Airfuel Alliance to bring small- and mid-sized suppliers of wireless charging products under their umbrella. Asto gain the competitive advantage, some manufacturers are launching the non-standardized and uncertified products (Qi/Rezence), at a lower cost compared to the standardized and certified products. However, the quality of these non-standardized and non-certified products is not guaranteed, and safety issue is also the main concern in these products Thus, the introduction of such uncertified products hinders the growth of the market for wireless power transmission technology.

Opportunity: Wireless power transmission in robotics (drones)

The wireless power transmission technology has been used for the research and development of mini and micro robots for wireless power transfer. Several research programs pertaining to wireless powered-drones are taking place. A transmitting coil is expected to transmit power at a higher frequency, which would be received by the receiver in robots. Imperial College of London has successfully demonstrated the wireless-powered drone which is likely to operate above five inch of wireless power transmitter. ZiiEnergy, Inc. (U.S.) developing the wireless drone receiver which works on Open Dots Alliance (ODA) standards and can deliver 45 watts of power to drones.

Challenge: Tradeoff between transmission range, efficiency, and safety of the wireless power system

The wireless power transmission technology is witnessing high growth in consumer electronics applications. It can charge various devices such as smartphones, tablets, and smartwatches. However, the wireless power transmission technology currently faces some limitations. The transmission range of wireless power transmission through electromagnetic induction and or by magnetic resonance technique is limited. This limitation of the range poses a serious challenge for the manufacturers. The efficiency of the power is inversely proportional to the distance between the transmitter and receiver. Safety issue is also the main concern for the wireless transmission market as strong electromagnetic fields may harm the biological environment. Every year, many start-ups companies enter this market, do their research activities, develop product prototypes, make the announcement of their products, and at the end, they fail to launch these products. Safety and efficiency issues make them impossible to go ahead in this market.

Request Free Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=168050212

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.