Industry Background:
Wireless Power Transmission System is the transmission of electrical power without the use of cables and is based on time-varying electric, magnetic, or electromagnetic fields. Power can be moved from one electrical network to another using wireless power transfer devices without the use of wires or exposed connectors. This functionality is extremely useful for a wide range of applications, and in some cases has enabled the development of new apps.
According to AMA Research, the market for Wireless Power Transmission System is expected to register a CAGR of 6.6% during the forecast period to 2030. This growth is primarily driven by Growth in the Consumer Electronics Market
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Electrical Components & Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Qualcomm, Inc. (United States), Samsung Electronics Co., Ltd. (South Korea), TDK Corporation (Japan), Texas Instruments, Inc. (United States), Nucurrent, Inc. (United States), Powermat Technologies, Ltd. (Israel), WiTricity Corporation (United States) and Integrated Device Technology (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In July 2019, TDK Corporation has announced that its subsidiary TDK Ventures Inc. has made its first investment in Starship Technologies, the world’s leading autonomous delivery service.
In September 2023, taskforce, to start in September, aims to drive the adoption and standardization of wireless charging solutions for electric vehicles worldwide to enable seamless wireless charging experiences.The founding of the Wireless Power Transfer Taskforce stems from the need to enable seamless wireless charging solutions for electric vehicles.The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Influencing Trend:
Consumer Preference for Wireless Connectivity
Market Growth Drivers:
Growth in the Consumer Electronics Market and Increasing Use of Wireless Power Transmission
Challenges:
Lack of Common Standards and Lack of Battery Durability
Restraints:
Rising Cost of Wireless Power Technology
Opportunities:
Increasing Adoption of Wireless Power Transmission and Demand for Technological Advancement and New Wireless Power Transmission Applications
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Wireless Power Transmission System Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Wireless Power Transmission System Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Wireless Power Transmission System players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Wireless Power Transmission System Study Sheds Light on
The Wireless Power Transmission System Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Wireless Power Transmission System industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Wireless Power Transmission System industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.