The Wireless Power Transmission Market projected to grow at a (CAGR) of 23.15% during the forecast period

“Wireless power transmission market is expected to exhibit significant growth between 2017 and 2022”

The wireless power transmission market is expected to be valued at USD 11.27 billion by 2022, growing at a CAGR of 23.15% during the forecast period. The market for the inductive technology is in the growth phase, while the market for the magnetic resonance is currently in the introductory phase. The market in Europe is expected to grow at the highest rate during the forecast period. The growth of this market is propelled by the factors such as the convenience offered by and consumer preference for wireless connectivity and need for effective charging systems. On the other hand, the impact of uncertified and non-standardized products on the industry, which delivers poor user experience is a key restraint to the growth of the market.

 

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“The magnetic resonance technology yet to go mainstream”

The market for the magnetic resonance technology is expected to grow at the highest rate owing to the benefits such as wide charging range, drop and go charging, and simultaneous multiple device charging. This technology is more apt for electric vehicle and industrial applications. Airfuel Alliance and Wireless Power Consortium are working on the development of the magnetic resonance technology, which enables it to commercialize very soon.

 

“APAC held for the largest share of the wireless power transmission market in 2016”

APAC held the largest share of the global wireless power transmission market in 2016. The presence of large consumer electronics industries in the counties such as China, Japan, India, and South Korea has attributed to the huge market size of APAC in the global wireless power transmission market.

 

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Break-up of the profile of primary participants:

  • By Company Type – Tier 1 – 30%, Tier 2 – 35%, and Tier 3 – 35%
  • By Designation – C-Level Executives – 55%, Directors – 30%, and Others – 15%
  • By Region – North America – 20%, Europe – 35%, APAC – 35%, and RoW – 10%

 

Major players in the wireless power transmission market are Samsung Electronics Co., Ltd. (South Korea), Qualcomm Inc. (U.S.), Texas Instruments Inc. (U.S.), TDK Corporation (Japan), WiTricity Corporation (U.S.), Integrated Device Technology, Inc. (U.S.), NuCurrent Inc. (U.S.), PowerbyProxi Ltd. (New Zealand), ConvenientPower HK Ltd. (Hong Kong), Salcomp Plc. (Finland), and Powermat Technologies Ltd. (Israel).

 

Related Report:

Electric Power Substation Automation Market by components (IED RTU PLC BCU) SCADA Communication (Wired Wireless) type (Transmission Distribution) End-user (Utility Industries) Stage (Retrofit New) & Geography - Global Forecast to 2020

The electric power substation automation has completely transformed the way substations are controlled and critical information is gathered. The global electric power substation automation market is majorly governed by the automation components and Intelligent Electronic Devices (IEDs) such as digital protection relays, RTUs, logical programmable controllers, digital transducers, recloser controls, capacitor bank controls, and voltage controls. The report covers the major communication technologies used for substation automation which have the maximum potential to drive this market with respect to the developments in advanced communication technologies.

The growth of the electric power substation automation market is expected to be remarkable, with the revenue expected to reach $48.25 billion by 2020, at an estimated CAGR of 6.71% between 2013 and 2020. The electric power substation automation uses communication technology and IEDs to monitor devices which are located at the substation to the remotely located utility data center. This report also describes the wireless communication technologies such as RF Mesh and Zigbee which have the potential to enter this market in future.

Read More: https://watchersofmarkets.com/products/electric-power-substation-automation-market-by-components-ied-rtu-plc-bcu-scada-communication-wired-wireless-type-transmission-distribution-end-user-utility-industries-stage-retrofit-new-geography-global-forecast-to-2020

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Posted by on Saturday September 15 2018, 9:16 AM EST. All trademarks acknowledged. Filed under Business & Financial Services, Business Services, Clean Energy, Energy Efficiency, Featured Press Release, Manufacturing, Power, Technology Hardware & Equipment, Technology, Media, & Telecommunications. Comments and Trackbacks closed. Follow responses: RSS 2.0

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