Wireless Power Transmission Market, By Technology (Inductive, Magnetic Resonance, Conductive, RF, Infrared), By Receiver (Smartphones, Tablets, Wearable Electronics, Notebook), By Transmitter (Standalone charger, Electric vehicle charging, Industrial) - Forecast 2022
Pune, India -- (SBWIRE) -- 02/09/2018 -- Wireless Power Transmission Global Market- Overview
The technology advancement, rising IoT, and emerging cloud technology has fuelled the innovation in automotive and consumer electronics sector in the form of hybrid vehicles, electric vehicles, wearable electronics, and smart devices. However, the functioning of these products and devices requires fast and reliable battery and energy sources. Inductive, capacity coupling, far field are some of the technologies used to charge hybrid and electric vehicles.
The major growth driver of Wireless Power Transmission Market includes emerging market of electric and hybrid vehicles, high demand for wireless connectivity solutions, and integration of IoT and smart devices into consumer electronics products and solutions. However, high cost of wireless power transmission devices are some of the major factors hindering the growth of Wireless Power Transmission Market.
Also, increasing growth in consumer electronics market in countries such as South Korea and Japan and rising need for battery powered equipment are driving the growth of the market. Furthermore, awareness about battery technology is also fuelling the growth of the market.
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Ossia, Inc. (U.S.), Wi-Charge Ltd. (Israel), Energous Corporation (U.S.), Humavox Ltd. (Israel), Fulton Innovation LLC (U.S.), Qualcomm Inc. (U.S.), Texas Instruments Inc. (U.S.), Integrated Device Technology, Inc. (U.S.), Semtech Corp. (U.S.), Toshiba Corp. (Japan) among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Wireless Power Transmission Market.
January 2018 – Ossia Inc., the wireless power technology provider, announced about their joint venture with Motherson Innovations, a leading manufacturer of components for vehicle OEMs. The joint venture has formed to integrate Ossia Inc. power systems into wide range of commercial, and public transportation vehicles.
October 2017 – Ossia Inc., introduced a chipset for wireless power transmission. The new chipset consist of two new components namely wireless power receiver chip and wireless power transmitter chip and is available for all the major OEMs.
August 2017 – Semtech Corporation, supplier of analog & mixed signal semiconductors and advanced algorithms introduced a multi device wireless charging solutions named as "LinkCharge LP". LinkCharge can charge multiple low power devices using a single transmitter.
Wireless Power Transmission Global Market- Regional Analysis
The global Wireless Power Transmission market is estimated to grow at a promising rate in upcoming years. Asia Pacific is expected to lead the market due to vast presence of consumer electronics industry, followed by North America and Europe region. China, Japan, India and South Korea are some major countries in the region which are contributing in generating highest revenue for the market in the region. North America is expected to be the fastest growing region due to increasing market of hybrid vehicles, and mobile devices such as smartphones, wearable technology among others.
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The Wireless Power Transmission Market can be classified into 3 key segments as follows:
Segmentation by Technology: Inductive, Magnetic Resonance, Conductive, and RF.
Segmentation by Application: Smartphone, Wearable electronics, Electric vehicle charging, and industrial.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
The market position analysis is derived by considering various factors such as financial position, segmental R&D investment, brand value, Wireless Power Transmission product portfolio, strategy analysis, and key innovations in Wireless Power Transmission market among other factors. The major players holding prominent position in the Wireless Power Transmission market are Qualcomm Inc., Texas Instruments Inc., Integrated Device Technology, Inc., Semtech Corp., and Toshiba Corp. among others. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
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