Global Wireless Power Receiver Market size was valued US$ XX Bn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2027, reaching US$ XX Bn.
Global Wireless Power Receiver Market Drivers and Restrains:
As mobile technology advances, devices like wearables & smartphones get used for longer periods. With this development, the need to keep the devices effectively charged at all-time becomes important. Maximum of these devices are mobile & they do not require cords for data connectivity, but charging still demands tying up these devices to a cord. Wireless power receiver aims to cut these cords & transmit power to these devices wirelessly. The extensive growth in the field of smartphones market continues to be the entry point for the increased adoption of wireless power. Smartphone companies are also heavily investing in their research and development activities, which is further driving the market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Geographically, the Wireless Power Receiver Market is segmented by Europe, Asia Pacific, North America, Latin America, and Middle East & Africa. Among all the regions North America held the dominant market share of XX% in 2019 and is expected to reach US$ Bn by the end of 2027, with a CAGR of XX%. Thanks to the existence of leading countries like Canada and the United States. Technological advancement, increase in the number of wireless charging market owing to the heavy industrialization and presence of several key players, which uses Wireless Power Receiver for various purposes are fueling the regional market growth during the forecast period.
Asia Pacific is considered to be the fastest growing region in the wireless power receiver market due to the proliferation of smartphones along with other smart devices owing to rise in disposable income is also considered to drive the market in this region.
Different and increasing applications for wireless power receiver are expected to drive the market. The market has created enormous opportunities for new technology companies like WiTricity and Ubeam, who are trying to remove wired charging cord for all home appliances. However, wireless power receiver is not limited to wirelessly charging and powering domestic devices. Techniques like microwave power transmission and power beaming are coming up, which aim to transmit power over longer distances. These systems are being applied for automotive vehicle charging, aerial vehicle propulsion & solar power satellites.
The report has covered new technology developments, trends in the industry that will help reader to be updated on the technological developments in the market as well as on key players.
One of the leading key players in wireless power, WiTricity has recently revealed 530e iPerformance, the very first wireless charging-enabled hybrid electric vehicle which is to be installed in BMW as a wireless charging system. The German government has accepted and planned an investment and incentive plan which will promote a switch to electric vehicles & a necessary Europe-wide ban on ICE cars by the end of 2030. WiTricity has also patented the technology which offers to drive HEVs & EVs which can be charged on a charging pad on the ground.
Technology has reached a level where wearable device can be charged with body heat is expected to be soon in the markets. This will be the next level in wireless power receiver. The global annual unit shipment of wireless power receivers & transmitters, across all applications, sectors, is estimated to grow from 450 million units in 2018 to 2.2 billion units in 2023 & growing to 7.5 billion units in 2027.
Global Wireless Power Receiver Market1
After Apple’s decision to adopt Qi-based wireless charging technology for iPhones in 2017, the interest among other wireless power solution key players have drifted away from mobile phones to new segments, in search of new opportunities. The decision Apple made during its recent important event in September 2018 not to mention anything about Airpower wireless charging system, may have reduced consumer and market enthusiasm and slowed the adoption growth rate of wireless charging technology across applications. However, wireless power transfer technology players are now pursuing opportunities across wearables, medical devices and the automotive electric vehicles (EVs) segment
The objective of the report is to present a comprehensive analysis of the Global Wireless Power Receiver Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Wireless Power Receiver Market dynamics, structure by analyzing the market segments and project the Global Wireless Power Receiver Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Wireless Power Receiver Market make the report investor’s guide.
Scope of the Global Wireless Power Receiver Market:
Global Wireless Power Receiver Market, by Technology:
• Inductive Coupling
• Capacitive Coupling
Global Wireless Power Receiver Market, by Application:
• Consumer Electronics
• Aerospace and Defense
Global Wireless Power Receiver Market, by Region:
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Global Wireless Power Receiver Market Key Players:
• Integrated Device Technology Inc.
• Convenient Power HK Limited
• Qualcomm Inc.
• TDK Corporation
• NXP Semiconductors
• WiTricity Corporation
• Samsung Electronics Co Ltd.
• Texas Instruments Inc.
• Powermat Technologies Ltd
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