Wireless Power Transmission Market worth $17.04 Billion by 2020, According to a New Study on ASDReports

Wednesday 8 October 2014, Amsterdam

According to a new market research report, now available on ASDReports, "Wireless Power Transmission Market by transmission technology (Induction, Radiation), type, and range; by application (consumer electronics, industrial, automotive, healthcare, and defense), and by geography - forecast and analysis (2013-2020)" , Wireless Power Transmission Market is expected to reach $17.04 billion by 2020; growing at a CAGR of 60.49% from 2014 to 2020.

Wireless power transmission has gradually started developing in the market and posesa huge potential in the coming future. The Wireless power transmission market ismainly driven by the consumer electronics segment for the near terms, where it is mainly used for charging the portable device which includes smart phones, tablets and wearable electronics. However, in longer terms, huge scope of opportunity can be expected from the development and integration of wireless power transmission in other application which includes healthcare, automotive and defense. With the resolution in the standards for wireless power transmission, varieties of other products can be expected in the future. It has been estimated that magnetic resonance technology will dominate the wireless power transmission market. In future almost all the device will be working based on magnetic resonance as it helps in larger charging field.

The wireless power transmission market is segmented on the basis of transmission technology, transmission type, transmission range, application and geography. All these segments are separately classified in the report. The wireless power transmission market is expected to reach up to $17.04 billion by 2020, at an estimated CAGR of 60.49% from 2014 to 2020.Application segment, under the wireless power transmission, has been segmented into consumer electronics, industrial, automotive, healthcare and defense. Consumer electronics is further sub-segmented into mobile phones, tablets, computers, peripherals, and wearable electronics. Consumer electronics is expected to account a total market share of 67.89% for 2013, and is estimated to grow at a CAGR of 61.18% from 2014 to 2020. Majority the wireless power products currently being developed for consumer electronics, however product for application such as; defense and healthcare has also started being developed.

Players involved in wireless power transmission market includes ConvenientPower HK Ltd. (Hong Kong), Energizer Holdings Inc. (U.S.), Integrated Device Technology, Inc. (U.S.), Leggett & Platt, Inc. (U.S.), Murata Manufacturing Co., Ltd. (Japan), Powermat Technologies Ltd. (Israel), Plugless Power (U.S.), QUALCOMM Inc. (U.S.), Texas Instruments Inc. (U.S.), and Witricity Corp. (U.S.).