Global Wireless Power Revenue to Reach US $17.9 Billion by 2024
Wireless power is finally achieving substantial growth in adoption. Well over 100 million mobile phones are expected to be integrated with wireless charging functionality in 2015. However, the actual use of wireless power, even in devices that are equipped with it, has been persistently low. Consumer awareness remains a challenge, and current wireless power technology does not provide users with a truly wireless experience. Moreover, competing industry standards have prevented some manufacturers from committing to wireless power entirely. Nonetheless, an increasing reliance on electronics and the constant need to power them will continue to drive the adoption of wireless power. According to a new Navigant Research report, global wireless power revenue is expected to grow from $1.3 billion in 2015 to $17.9 billion in 2024.
Inductive coupling is the predominant wireless power technology currently in the market, reports Navigant. Although it provides the convenience of avoiding wires, it is limited in the amount of power and spatial freedom provided. Magnetic resonance addresses these limitations, though its commercialization has been delayed, with products expected to hit the market by the end of 2015. Against this backdrop, several startups are developing technologies to provide better distances, power limits, and efficiencies.
The Navigant Research report examines the global market for wireless power, with a focus on mobile consumer electronics, appliances and stationary consumer electronics, automotive, and industrial, military, and medical applications. The study analyzes the current market conditions and technology issues and trends that affect the adoption and success of wireless power systems. Global market forecasts, segmented by region, receiver and transmitter application, and technology, extend through 2024.
The report also examines the key technologies (inductive power, magnetic resonance, radio frequency, or RF, power transmission, ultrasound, infrared, and microwave) and applications related to wireless power systems, as well as the competitive landscape.
The report addresses these questions:
• Who will be the major players in the wireless power sector in the coming decade?
• What are the major technological, business, and regulatory hurdles to the widespread adoption of wireless power systems?
• What are the most promising applications for wireless power charging and transmission?
• How big, in terms of units and revenue, will the wireless power systems market be over the next decade?
• Where will the adoption of wireless power systems grow most rapidly?
Find out more about Mobile Devices, Consumer Electronics, Wireless Power Infrastructure, and Wireless Charging of Electric Vehicles: Global Market Analysis and Forecasts: https://www.navigantresearch.com/research/wireless-power.
