According to the latest report by IMARC Group, titled “Wireless Power Transmission Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global wireless power transmission market size witnessed double-digit growth during 2014-2019. Wireless power transmission (WPT) is the technology that assists in transferring energy from a power source to an electrical load without interconnecting wires. It is carried out using direct induction and resonant magnetic induction technologies. As it offers convenience and consumes less energy, it is widely utilized in mobile phone chargers and charging electric vehicles (EVs). It also finds extensive applications in telemetry, satellite communications and radio frequency identification (RFID) tags across the globe.
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Owing to several associated benefits, WPT is gaining popularity over wired counterparts for transmitting power in distant and remote areas. Apart from this, it is utilized in the healthcare, automotive and defense industries worldwide. Furthermore, the escalating demand for EVs on account of the rising environmental concerns is offering numerous opportunities for manufacturers to expand their consumer base. These manufacturers are adopting novel technologies, such as solar energy harvesters, which is anticipated to provide a positive outlook for the market growth in the coming years.
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