The
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.
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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.
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.
Market Dynamics
Driver: Convenience offered by and consumer
preference for the wireless connectivity
Currently, wireless connectivity technologies
are being adopted at a high rate. The user wants to get rid of the wired
connectivity because of its complexity. Nowadays, consumers expect robust
wireless services everywhere including smartphones, notebooks, MP3 players, and
digital cameras. Wireless connectivity offers users the freedom of mobility,
quick and easy accordance, and handy operations which is why the wireless
charging technology is highly deployed in consumer electronics such as
smartphones, tablets, and wearable devices.
Restraint: Impact of uncertified and
non-standardized products on the industry coherence leads to poor user
experience
The wireless power transmission technology
has become crucially important nowadays due to its successful implementation
into consumer electronic products. Thus, to fulfil the increasing demand,
various players, including start-up companies along with their innovative
ideas, are entering the market to offer the wireless power transmission
technology. This increases competitive pressures among the suppliers of
wireless power transmission technology-based products.
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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.
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.
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