Market Research Report
Wireless Power Transmission Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Published by||IMARC Services Private Limited||Product code||945304|
|Published||Content info||112 Pages
Delivery time: 2-3 business days
|Wireless Power Transmission Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
|Published: June 18, 2020||Content info: 112 Pages||
The global wireless power transmission market witnessed double-digit growth during 2014-2019. Wireless power transmission (WPT) refers to the technology of transferring electrical energy from a power source to a device without using interconnecting wires. It primarily uses microwaves, solar cells and magnetic resonance to transfer the energy through a set of transmitter and receiver coils. This technology is commonly used for recharging mobile phones, tablets, cars, drones, transportation equipment and solar-panel arrays in space. It offers enhanced reliability, mobility and convenience while eliminating the use of wires and batteries. Owing to this, it finds extensive applications across various industries, including consumer electronics, automotive, robotics, heating and ventilation and industrial engineering.
Rapid industrialization, along with the increasing demand for consumer electronics across the globe, is one of the key factors driving the growth of the market. There is widespread adoption of WPT technologies among consumers as an effective alternative to wired charging systems for smartphones, laptops, portable MP3 players and digital cameras. This, along with the increasing utilization of the technology for operating robots and drones, is also providing a boost to the market growth. The market is further driven by the rising need for effective charging systems. For instance, electric vehicles (EVs) equipped with in-motion (dynamic) and inductive WPT charging systems can function on smaller batteries, thereby minimizing the overall cost of operation and carbon emissions into the environment. Other factors, such as the increasing requirement for efficient and reliable power distribution systems and the adoption of WPT-based smart grids, which have enhanced the utilization of WPT systems in smart meters, appliances and other equipment, are projected to drive the market further. Looking forward, IMARC Group expects the market to continue its strong growth during the next five years.