The wireless power transmission market is gradually growing and is expected to replace wired power transmission. This system increases efficiency of power transmission over traditional systems. Increasing demand for consumer electronics such as smartphones and tablets is expected to be the key factor for market growth over the forecast period.
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Growing demand for wireless connectivity is expected to drive the wireless transmission market. Additionally, increasing technology advancements and limitations of battery technology is further expected to fuel market growth. Availability of universal standards is expected to favor the wireless power transmission market over the next six years.
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High cost and complex design for wireless power transmission technology may hinder market growth. Additionally, interference with other signals and potential biological threat for users may also act as a restraint to market demand over the forecast period. The market can be segmented based on transmission technology, range and application. Electromagnetic radiation and induction technology is expected to grow at a considerable rate over the next six years. They are widely used for long and short range of power transmission respectively. Consumer electronics is expected to be a considerable application segment owing to wireless power charging for smartphones and tablets etc.
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Asia Pacific is expected to be the key regional market on account of growing automobile and consumer electronics market. Additionally, Mexico is also expected to grow at a considerable rate owing to increase in electronics manufacturing industry. Key players in the wireless power transmission market include Texas Instruments, Qualcomm Inc., Plugless Power, Murata Manufacturing and Witricity Corp.


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