Future Market Insights has announced the addition of the “Wireless Power Transmission Market: Global Industry Analysis and Opportunity Assessment 2014-2020" report to their offering.
Valley Cottage, NY -- (SBWIRE) -- 10/04/2016 -- Wireless power transmission (WPT) or wireless power transfer refers to the transfer of energy or power from one place to another without being connecting through wires. In this, electromagnetic energy is transferred from power sources to electric loads.
Wired transmission is the most common mode of transmitting electrical energy. Its main drawback, the loss of energy during transmission, drives the demand for wireless power transmission. Being fast and consistent, WPT can be used both for short and long range transmissions. A major advantage of WPT is low maintenance cost. However, there is a high initial cost i.e. capital cost involved in implementing the WPT. Another disadvantage is interference of microwaves with current communication systems. WPT is generally used for transfer of energy to remote areas. Major application of WPT is in consumer electronics goods such as laptops, tablets and smartphones. The largest application of WPT is in solar-power satellites. WPT is also used in fuel-free aircrafts, fuel-free electric automobiles, robots and fuel-free rockets.
Globally, WPT technology is being accepted positively, outdated wired power transmission tools are being replaced with the latest technology. Countries like the U.S.are investing high on the adoption of WPT technology, to take full advantage of their power system networks and reduce the installation cost of overhead cables. This technology is still in its initial stage, which provides a huge opportunity for new entrants to enter this market,conditional to their acceptance of the high capital cost. The main drivers for the market area huge demand by the battery functioned devices globally and decrease in high tension on Head Cables.Market is expected to show a double digit growth rate in coming five years (2015-2020). The growth is majorly driven by need of technological advancement and new wireless power transmission applications such as solar-power satellites.
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Market segmentation for WPT is based on application, technology,transmission types, transmission range and geography. The application segment includes consumer electronics, healthcare, automotive and defense. Consumer electronics are further sub-divided into mobile phones, tablets, laptops and wearable electronics. Technological segmentation includes near-field or non-radioactive techniques and far-field or radioactive techniques. On the basis of transmission types, the market is segmented into devices with and without battery. The market is also segmented on the basis of transmission range which include short, medium and long ranges. The regional or geographical segmentation includes regions such as North America, Latin America, Asia Pacific, Japan, Western Europe, Eastern Europe, and Middle East & Africa.
Major players involved in the wireless power transmission market are Qualcomm, Leggett & Platt, Convenient Power HK, Energizer Holdings, Inc. and Integrated Device Technology, Inc. Other important companies are Power mat Technologies Ltd., Plugless Power, Texas Instruments, Murata Manufacturing Co., Ltd. and WiTricity. The common strategy adopted by players are product development and a focus on research & development activities.
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WPT technology helps make life easy and comfortable. WPT is much better than the traditional form of power transmission. It's an efficient technology which helps in decreasing energy crises and energy loss. In the near future,the world will completely shift towards wireless technology and use of wireless devices, as well as wireless power transmission, will be evermore, creating a good opportunity for players in this market.