The “Wireless Power Transmission Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Wireless Power Transmission Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The Global Wireless Power Transmission Market was valued at $5.7 Bn in 2020 and is anticipated to grow with a CAGR of ~20% during the forecast period 2021-2027. The North America Wireless Power Transmission Market accounted for more than 20% of the overall revenue growth.
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The wireless transmission uses electromagnetic energy to transmit charge from a power source to an electric load without requiring the use of wires. Wireless transmission can provide power to remote locations. The technology is used in consumer electronics such as laptops, tablets, and smartphones. Additionally, technology is rapidly advancing in sectors like defense and healthcare.
Factors Impacting Wireless Power Transmission Market
The growth of the wireless power transmission market is due to an increasing number of consumer electronics that use wireless power transmission and the need for battery-operated equipment.
Wireless power transmission technology’s high costs limit the market’s growth.
Wireless power transmission will benefit from the integration of wireless charging with electric vehicle charging applications.
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Impact of Covid-19 on Wireless Power Transmission Market
COVID-19 has had a significant effect on the global market of wireless power transmission. Electronics and semiconductor production facilities have closed due to the economic slowdown and lack of labor. In 2020, COVID-19 outbreaks caused a significant and protracted drop in manufacturing utilization and travel bans, and facility closures, which led to a decline in the growth of the wireless power transmission industry.
Asia and Europe have suffered a major loss of revenue and business due to the shutdown of manufacturing facilities in the region. The outbreak of COVID-19 has negatively impacted the production and manufacturing industries, thereby recording a relatively low growth in 2020.
COVID-19 is likely to have a detrimental impact on wireless power transmission for a short time. It’s expected that the wireless power transmission market will exhibit high growth in early 2021 due to the strong demand during the post-pandemic period. In response to the surge in demand, several market players are reassessing their strategies and developing quick responses to stabilize their supply chains.
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Regional Outlook
Over the conjecture time horizon, the Asia-Pacific wireless power transmission market will grow at the highest rate. As industrialization and urbanization progress in Asia-Pacific along with higher disposable incomes of the population, consumer electronics and appliances are becoming more popular in this region. In addition, the development of automobile industries in China, Malaysia, and Indonesia further bolsters market growth.
Aim of the Report
The Wireless Power Transmission Market is divided into technology, type, application, and region.
Segmentation based on Technology
Far-field Technology
Near-field Technology
Segmentation based on Type
Device with Battery
Devices without Battery
Segmentation based on Application
Transmitter
Receiver
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Segmentation based on Region
North America
Middle East & Africa
Asia-Pacific
Europe
Key Competitors
Tex Instruments Inc. (U.S.) is among the most prominent semiconductor innovators and was ranked top of the list for wireless power transmission components. A broad range of wireless power transmitters and receiver ICs and modules are available from the company, ranging from low to high power. The company focuses on different applications such as wearables, smartphones, automotive, industrial, and medical. Consequently, Texas Instruments, Inc. (U.S.) is expected to remain a key ICs supplier in the wireless power transmission technology market due to its robust R&D activities and global geographic coverage.
The report analyzes the competitive landscape of major players in the wireless power transmission market. In the wireless power transmission market, mergers and acquisitions are also encouraging market players to grow their product portfolios and geographical footprint.
Samsung Electronics Co. Ltd.
Toshiba Corp.
Panasonic Corp.
Rohm Co., Ltd.
Texas Instruments, Inc.
NXP Semiconductors N.V.
Powermat Technologies Ltd.
Analog Devices Inc.
Energous Corporation
Koninklijke Philips N.V.
Renesas Electronics Corporation
Semtech Corporation
TDK Corporation
WiTricity Corporation
Qualcomm, Inc.
Integrated Device Technology, Inc.
Semtech Corp.
Key questions answered in the Wireless Power Transmission market report are:
- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the Wireless Power Transmission market over the forecast period?
- What are the factors driving and restraining the market for Wireless Power Transmission?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?
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