This report provides exclusive insights into the COVID-19 impact on the Wireless Power Transmission Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Wireless Power Transmission Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Wireless Power Transmission Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on wireless power transmission market provides an in-depth analysis of segments and sub-segments in global as well as regional wireless power transmission market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional wireless power transmission market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global wireless power transmission market. According to report the global wireless power transmission market is projected to grow at a CAGR of 28.5% over the forecast period of 2018-2024
Wireless power transmission mainly uses three main systems such as microwaves, solar cells, and resonance. Wireless power transmission is the transmission of electrical energy from a power source to an electrical load without man made conductors. Microwaves are used in an electrical device to transmit electromagnetic radiation from a source to a receiver. A wireless data transmission eliminates the need for wires. With the increase in wireless data application, the need for wireless energy transfer technology has increased. Moreover, the wireless power transmission technique can be used to charge gadgets like mobile phone, laptop battery, iPod, propeller clock, etc. In addition, this sort of charging offers a lower risk of electrical shock. Wireless power transfer not only reduces the risk of shock but also stops to plug frequently into the sockets. The concept of near field vs. far-field radiation is relevant to Wireless Power Transmission. Wireless power transmission is used in military applications, such as robots, wireless charging technology to help soldiers, and sensors used in submarines.
The increasing need for battery powered equipment and effective charging systems are the factors driving the growth of the wireless power transmission market. Moreover, emerging need for new wireless power transmission applications such as solar-power satellites is likely to boost the global market growth. However, interference of microwaves with current communication systems and rising prices of wireless power technology is hampering the growth of the wireless power transmission system during the forecast period. Furthermore, the rising efficiency of power transmission is projected to create favorable market conditions in the upcoming period. For instance, Samsung Galaxy that carries wireless charging capabilities is Google Nexus and Motorola Droid. The adoption in a range of smartphones in the inductive wireless power transmission market is anticipated to hoist smartphones as a larger receiver application. On the other hand, automobile manufacturers including Honda, Nissan, and Toyota Motors are focusing more on electrically charged vehicles to create greater opportunities over the years to come. Among the geographies, Asia Pacific held the largest share in the wireless power transmission and it is considered as the hub for consumer electronic products such as smartphones, tablets, laptops, and wearable devices. Mexico is emerging as a new manufacturing hub due to low manufacturing cost and rising demand for in North American regions such as the U.S. and Canada.
The report on global wireless power transmission market covers segments such as range, type, and end-user industries. On the basis of range, the global wireless power transmission market is categorized into the near field and far field. On the basis of type the global wireless power transmission market is categorized into microwave power transmission, inductive coupling power transmission, and resonance. On the basis of end-user industries, the global wireless power transmission market is categorized into consumer electronics, healthcare, automotive, industrial and others(drones, solar power satellite).
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global wireless power transmission market such as Philips, PowerbyProxi Limited, Samsung Electronics Co., Ltd., Texas Instruments, Inc., Integrated Device Technology, Inc., LG Electronics Inc., Powermat Technologies, Ltd., WiTricity, Plugless Power, and Salcomp PLC.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global wireless power transmission market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of wireless power transmission market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the wireless power transmission market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the wireless power transmission market to understand the present and future trends in this market and formulate their strategies accordingly.