Wireless Power Transmission Market to increase steadily by 2016-2024
Sarasota, FL -- (SBWIRE) -- 03/02/2017 -- Global Wireless Power Transmission Market: Overview
Wireless power transmission is the wireless technology through which power is transmitted from one place to another. In this, electromagnetic energy is transferred from power sources to electric loads. It is widely used mode of transmission for the electrical energy. The main drawback of this mode is that certain amount of energy is lost during transmission. Wireless power transmission is fast and consistent in nature; apart from this, it uses both short and long-range transmissions. However, it requires low maintenance cost. Wireless power transmission is usually used to transfer energy to remote areas. It is extensively used in the consumer electronics goods applications such as smartphones, laptops, and tablets. Whereas, largest application of the wireless power transmission is the solar-power satellites. It is used in robots and fuel-free rockets, fuel-free aircraft, and fuel-free electric automobiles.
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Global Wireless Power Transmission Market: Growth Factors
Poor transmission tools are replaced with the latest technology, and wireless power transmission is largely adopted; this is the major driving factor of the global wireless power transmission market. Technological advancements and innovations have opened up new growth opportunities in the global market. Increasing demand for functioned devices may foster the global market growth. Important companies focusing on investing on product development and research & development activities is expected to fuel the global wireless power transmission market growth. Moreover, emerging need for new wireless power transmission applications such as solar-power satellites also boosts the global market growth. However, the high initial cost required for implementation of the wireless power transmission, interference of microwaves with current communication systems and loss of energy during transmission are major challenges faced by global wireless power transmission market.
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Global Wireless Power Transmission Market: Segmentation
The global wireless power transmission market is divided based on technology as non-radioactive techniques and radioactive techniques. Based on the application, the global market is classified as automotive, consumer electronics, defense, healthcare, and automotive. Consumer electronics is further sub-segmented as wearable electronics, mobile phones, laptops, and tablets. Moreover, the global market is segmented on the basis of transmission types as devices with battery and devices without battery. Furthermore, the global market is categorized based on transmission range as long, short, and medium range.
Global Wireless Power Transmission Market: Regional Analysis
Asia Pacific is the dominating region across the world due to positive outlook in the electronics industries in China, South Korea, and Japan. Growing automobile industry in Indonesia, China, and Malaysia may open up gateways for new growth opportunities. Mexico is emerging as a new manufacturing hub due to low manufacturing cost and rising demand for in North American regions such as the U.S. and Canada. The U.S. is highly investing in the wireless power transmission technology to utilize power system networks and minimize the expenditure need to installed overhead cables. Europe is also showing a significant growth in the near future. Positive outlook in Mexico may drive the demand for wireless power transmission market.
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Global Wireless Power Transmission Market: Competitive Players
Major players operating in the global wireless power transmission market are WiTricity, Qualcomm, ConvenientPower HK, Leggett & Platt, Energizer Holdings, Inc., and Plugless Power. Other players influencing the global market include Powermat Technologies Ltd., Murata Manufacturing Co., Ltd., Integrated Device Technology, Inc., and Texas Instruments.
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