Wireless power transmission market is being seen as a new uprising technology in terms of innovative products for applications such as;consumer electronics, automotive, industrial, healthcare and military. It was first introduced by Nikola Tesla in 1899 where he demonstrated transmission of 100 million volts of electricity across 26 miles.Wireless power technology is very useful in harsh environment where wiring cannot be possible. Currently, it is mostly used in consumer electronics for the charging of electronics devices like mobile, tablets, Laptops and others and automotive sector for the charging of electric vehicle. Several experiment are being conductedso as to implement wireless power technology in industrial, healthcare (for the charging of implantable devices wirelessly) and military (for the charging of gadgets and equipment used by soldiers in the battle fields as well as in the unmanned vehicles).
Electromagnetic induction and radiation are two main technologies which are used to transfer the energy from the transmitter to the receiver. Electromagnetic induction is used for short range where the devices are coupled for higher efficiency while electromagnetic radiation is used for long range of power transmission. Many researchers are experimenting to develop advanced technology to use solar energy from space and transfer it efficiently in the earth by wireless power technology.
The figure below shows the estimated growth of the wireless power transmission market from 2013 to 2020.
The Wireless power technology markets are forecast to grow $17.04 Billion at a CAGR of 60.49% from 2014 to 2020. The emergence of the wireless technology and the increasing investment in the R&D activities has resulted in a significant number of developments. Currently, the consumer electronics devices and electric vehicles enabled with wireless power technology are in huge demand.
In the report the drivers, restraints, and opportunities has been covered and is being described briefly along with its impact in the market. The major driving factors include: demand for battery powered devices, limitations in existing battery technology. The major restrains include: higher cost of wireless power technology and design issues. Increased efficiency of transmission is the key opportunity to grab the wireless power technology market.
Some of the major companies includes: ConvenientPower HK Ltd. (Hong Kong), Energizer Holdings Inc. (U.S.), Integrated Device Technology, Inc. (U.S.), Leggett & Platt, Inc. (U.S.), Murata Manufacturing Co., Ltd. (Japan), Powermat Technologies Ltd. (Israel), Plugless Power (U.S.), QUALCOMM Inc. (U.S.), Texas Instruments Inc. (U.S.), and Witricity Corp. (U.S.).These companies operate globally and put wireless power market related products and services to various applications.
Geographically, the Wireless power technology market is covered by North America (U.S., Canada), Europe (Germany, the UK, Sweden, the Netherland, and France), APAC (China, India, Japan, Russia, and Australia), and RoW (the Middle East, South America, and Africa).The APAC region is estimated to contribute a major share in the wireless power technology market, followed by America and Europe. RoW, cover a small market share at present; however, they are expected to show growth till the forecasted period.
Details of the new report, table of contents and ordering information can be found on Electronics.ca Publications’ web site. View the report: Wireless Power Transmission Market Forecast and Analysis 2013-2020.