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Jan 27, 2021 (The Expresswire) —
Technological advancements and consumer preference towards wireless chargers are expected to boost the global wireless power transmission market in the coming years. According to Fortune Business Insights, in a report, titled, “Wireless Power Transmission Market Size, Share and Global Trend by Technology (Inductive, Magnetic Resonance, Conductive, RF, Infrared), by Range (Near Field, Far Field), By Application (Consumer Electronics, Automotive, Industrial, Healthcare, Defence, Others), and Geography Forecast till 2026,” flexibility and low maintenance cost are the two major factors that are likely to have positive impacts on the growth of the global wireless power transmission market during the forecast period.
Key Industry Development:
In March 2019, Samsung released its new S10 and S10plus smartphones which come with wireless power share feature which lets you use the back of the phone to Qi charge another phone. This idea was taken from the Huawei Mate 20 pro phone, but this phone was not available in certain territories including US. This has helped the sales of Samsung S10 worldwide.
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Moreover, the batteries of wireless chargers don’t get overcharged as the chargers have the feature of sensing the amount of power each electronic device requires. This is anticipated to propel the global market.
An Overview of the Impact of COVID-19 on this Market:
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The report on the wireless power transmission market contains:
- Future insights into the market
- In-depth study of the regions
- Product and brand strategies
- Factors enabling market growth
- Competitive landscape
- COVID-19 impact
List of Key players operating in the global wireless power transmission cables market:
- Energizer Holdings Inc.
- Murata Manufacturing Co. Ltd.
- Powermat Technologies Ltd.
- Leggett and Platt
- Convenient Power HK
- Texas Instruments
- Integrated Device Technology Inc.
- Energous Corporation
- Plugless Power
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“Growth of Electronic Industry and Rise in Disposable Income to Drive the Market in Asia Pacific”
The global wireless power transmission market is geographically divided into Latin America, Europe, North America, the Middle East and Africa, and Asia Pacific. Amongst these, Asia Pacific had been leading the wireless power transmission market since the past few years and Fortune Business Insights predicts that the region will remain in its leading position throughout the forecast period. The growth of the automotive and electronics industry in South Korea, Japan, China, Indonesia, and Malaysia in Asia Pacific, is the main factor that will drive the market.
Additionally, there has been a rise in the disposable income of the middle-class strata of the society in Asia Pacific. This has further resulted in the growth of the wireless power transmission market in the region. Europe, on the other hand, is expected to follow the footsteps of Asia Pacific and remain in the second position. This is due to the growth of the markets of electric vehicles, hybrid vehicles, and devices such as smartphones. The U.S.A., in North America, dominates the wireless power transmission market. A rise in the adoption of wireless power transmission devices in defense and healthcare sectors has resulted in an increasing demand, which is anticipated to contribute to the growth of the wireless power transmission market.
The report answers the following questions:
- What are the recent wireless power transmission market trends and developments?
- How will the market be affected by changing consumer behavior?
- Which strategies are being adopted by key players to enhance their market footprint?
- Which region will remain in the dominant position in terms of revenue?
- How many niche segments are present in the market?
“Samsung, Hyundai, and Other Key Players Launch Innovative Products to Increase Sales and Strengthen Their Positions in the Market”
Samsung unveiled its new smartphones called S10 and S10plus, in March 2019. A major feature of both these smartphones is reverse wireless charging. Samsung has named the feature Wireless PowerShare. It allows a person to use the back of the phone to Qi charge another phone. The reverse wireless charging was previously placed on the Huawei Mate 20 Pro phone. However, this model was available only in a few territories, excluding the U.S.A. This aided in the sales of Samsung S10 and S10pro worldwide.
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Rohm, an electronic parts manufacturer, based in Japan, announced the development of an automotive wireless charging solution in February 2019. The solution includes an integrated near-field communication system. Such type of communication offers user authentication to allow engines to start, lock and unlock doors, and to share Wi-Fi and Bluetooth communication with infotainment systems. This solution has combined Rohm’s automotive-grade (AEC-Q100Qualified) IC with 8-bit microcontroller (STM8A series) and STMicroelectronics NFC Reader IC(ST25R3914). Hyundai revealed Creta, the ix25 model, earlier in July 2014. This car falls under the SUV segment and unlike its competitor Maruti Suzuki Vitara Brezza, it provides a wireless charging option. The sales of Creta has so far been good.
Major Table of Contents for Wireless Power Transmission Market:
- Executive Summary
- Market Dynamics
- Key Wireless Power Transmission Market Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- GlobalWireless Power Transmission Market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
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Name: Ashwin Arora
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Wireless Power Transmission Market Data Current and Future Trends, Industry Size, Share, Revenue, Business Growth Forecast to 2026
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