Global $6.5 Bn Wireless Power Transmission Market to 2022 - Market to Grow at a CAGR of 19.29% to Reach $15.85 Billion

The global wireless power transmission market is projected to witness the growth at a CAGR of 19.29% during the forecast period to reach a total market size of US$15.856 billion by 2022, increasing from US$6.563 billion in 2017.

The global wireless power transmission market is projected to witness the growth at a CAGR of 19.29% during the forecast period to reach a total market size of US$15.856 billion by 2022, increasing from US$6.563 billion in 2017.

The application of consumer electronics such smartphones, laptops, tablets etc. have been driving the growth of this market. However, the realization of a possibility of wireless power charging in other segments is majorly driving the growth of global wireless power transmission market during the forecast period. Moreover, rising consumer awareness regarding the benefits of wireless charging is supplementing the growth of this market.

Wireless-power transmission poses a huge potential for the future. In the near term, the consumer electronics segment is driving this market, where it is primarily used for charging portable devices, including smartphones, tablets, and wearable electronics. Wearable devices, also called tech togs or fashion electronics, are clothing and accessories incorporating computers and advanced electronics.

However, in the long term, a huge scope of opportunities can be expected from the development and integration of wireless-power transmission in other applications, including healthcare, defense and automotive. For example, wireless charging for electric vehicles is beginning to emerge as an alternative to plugging in. Wireless charging enables energy transfer between a charging base and the vehicle's battery.

The global wireless power transmission market is competitive owing to the presence of well-diversified international, regional and local players. However, some big international players dominate the market share owing to their brand image and market reach. The high market growth and favorable government policies are further attracting more players in the market while enhancing the competitive rivalry. The competitive landscape details strategies, products, and investments being done by key players in different technologies and companies to boost their market presence.

Segmentation

By Technology

By Range

By Application

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/research/s57nws/wireless_power

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