Wireless Power Transmission - Global Market Outlook (2018-2027)

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According to Stratistics MRC, the “Global Wireless Power Transmission Market” is accounted for $5.26 billion in 2018 and is expected to reach $29.23 billion by 2027 growing at a CAGR of 21%. Consumer preference for wireless connectivity, and need for effective charging systems are likely to boost the growth of the wireless power transmission market. However, high cost of wireless power transmission technology-based devices is likely to hamper the profit boundaries.

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Wireless power transmission is a process that occurs in a system, where power source transmits electromagnetic energy to electric load with no wires. This wireless transmission transmits power to remote locations. Wireless power transmission has great demand in the consumer electronics, for example laptop, tablets, smartphones and other devices. Furthermore, the technology is rapidly being implemented in sectors such as defence and healthcare.

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Based on application, the consumer electronics segment is estimated to have a lucrative growth due to the increasing use of consumer electronic appliances such as smartphones, laptops and tablets. By geography, Asia-Pacific is likely to have a huge demand due to the penetration of electronic industries and rising electronic business in the region, and rising disposable income of the population.

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Some of the key players in the Wireless Power Transmission market include Convenientpower Hk Ltd, Energous, Fulton Innovations, Humavox, Integrated Device Technology Inc, Murata Manufacturing, Nucurrent Inc, Ossia Inc, Philips, PowerbyProxi, Powermat Technologies Ltd, Qualcomm Inc, Salcomp PLC, Samsung Electronics Co Ltd, TDK Corporation, Texas Instruments Inc, UBeam, WI-Charge, and Witricity Corporation.