The wireless power transmission market to grow from USD 2.5 billion in 2016 to USD 11.3 billion by 2022, at a CAGR of 23.2% between 2017 and 2022. The key factors driving the growth of the market include the convenience offered by and consumer preference for wireless connectivity and need for effective charging systems. However, the impact of uncertified and non-standardized products on the industry coherence leads to poor user experience and high cost of wireless power transmission technology-based devices are the key restraining factors for market growth.
Wireless power transmission market for inductive technology to hold largest share of the market during forecast period
Currently, wireless power transmission is based on the two technologies; inductive and magnetic resonance. Inductive technology has almost commoditized in the wireless power transmission market, especially for the consumer electronics applications; therefore, held the largest market share in 2016. Smartphones, tablets, wearable devices are some key applications of the inductive wireless power transmission. On the other hand, magnetic resonance technology is yet to mainstream.
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Wireless power transmission market for smartphones receiver application to hold largest size of wireless power transmission technology from 2017 to 2022
Smartphones is the largest receiver application for wireless power transmission technology owing to the adoption of inductive wireless power transmission in various smartphones in the past years. Samsung Galaxy Series, Motorola Droid phones, and Google Nexus phones are some notable smartphones, which have wireless charging capabilities. Samsung Electronics Co., Ltd. (South Korea) has a major product portfolio of smartphones integrated with wireless charging receiver capabilities.
Wireless power transmission market in APAC to hold the largest share of the market during forecast period
APAC is considered as the manufacturing hub for consumer electronic products such as smartphones, tablets, laptops, and wearable devices. It’s huge population and rapid urbanization in the past has led to the significant demand for devices. Thus, the presence of large consumer electronics industries in the counties such as China, Japan, India, and South Korea has attributed to the huge market size of the APAC region in the global wireless power transmission technology market.
Opportunity: Wireless power transmission in robotics (drones)
The wireless power transmission technology has been used for the research and development of mini and micro robots for wireless power transfer. Several research programs pertaining to wireless powered-drones are taking place. A transmitting coil is expected to transmit power at a higher frequency, which would be received by the receiver in robots. Imperial College of London has successfully demonstrated the wireless-powered drone which is likely to operate above five inch of wireless power transmitter. ZiiEnergy, Inc. (U.S.) developing the wireless drone receiver which works on Open Dots Alliance (ODA) standards and can deliver 45 watts of power to drones.
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Challenge: Tradeoff between transmission range, efficiency, and safety of the wireless power system
The wireless power transmission technology is witnessing high growth in consumer electronics applications. It can charge various devices such as smartphones, tablets, and smartwatches. However, the wireless power transmission technology currently faces some limitations. The transmission range of wireless power transmission through electromagnetic induction and or by magnetic resonance technique is limited. This limitation of the range poses a serious challenge for the manufacturers. The efficiency of the power is inversely proportional to the distance between the transmitter and receiver. Safety issue is also the main concern for the wireless transmission market as strong electromagnetic fields may harm the biological environment. Every year, many start-ups companies enter this market, do their research activities, develop product prototypes, make the announcement of their products, and at the end, they fail to launch these products. Safety and efficiency issues make them impossible to go ahead in this market.
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