Wireless Power Transmission Market Report 2022 by Players, Regions & Applications Details

Wireless power transmission (WPT) is a technique of transmitting power from one location/device to another without using electrical conducting media. Generally, this process involves a phenomenon known as electromagnetic induction. Other methods may include inductive and conductive technology, magnetic resistance, and laser or infrared-based power transmission and microwave (RF). Loss of energy during transmission is a major drawback of wired transmission technique. WPT, on the other hand, is more efficient, reliable, and less expensive. WPT technologies can be categorized into near-field technology and far-field technology.

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Electric Vehicle Charging to Reduce Carbon Emission

WPT finds application in smartphones, tablets, notebooks, wearable electronics, other consumer electronics, industrial, and electric vehicle charging. Wireless charging is possible using inductive technology. Wireless charging provides greater convenience for consumers and enables safe charging in a risky environment where an electrical spark may cause an explosion.

It is also possibly the best solution for charging electric cars as well as hybrid cars. Many companies are set to provide complete wireless solution for electric cars and some have successfully completed trials.

For instance, Toshiba Corporation has conducted a successful trial run for electric bus charging using contactless chargers that work on magnetic resonance technology. This has been implemented with help from Waseda University. Test results concluded that CO2 emissions can be reduced by up to 60 per cent with this system. Rising need to reduce carbon emission will drive demand for electric charging systems in the near future.

Market Overview

According to a report available on Radiant Insights, Inc., the worldwide wireless power transmission (WPT) market is projected to witness momentous growth over the forecast period (2017 to 2022). Rising demand for reliable, effective, and cost-efficient charging systems is predicted to increase demand for WPT products in the coming years. However, high initial cost for implementing WPT and various issues related with connectivity of wireless devices are expected to pose a challenge to market growth.

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Asia Pacific is predicted to be a key market over the forecast period due to a growing consumer electronics industry and a flourishing automobile sector.

Some of the leading companies operating in the market are Integrated Device Technology; Inc.; Energous Corporation; Texas Instruments Inc.; and Toshiba Corp.

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