The Market for Wireless Power Systems Will Triple Over the Next 8 Years, Surpassing $30 Billion by 2020
According to an analysis done by PikeResearch the market for wireless power will triple until 2020.
Originating with simple inductive charging mechanisms that require a direct point of contact between charger (transmitter) and device (receiver), wireless power systems are evolving toward devices that connect to the wider power delivery infrastructure. As the technology matures and the industry consolidates, wireless power is beginning to see greater acceptance across a range of applications, and will become an increasingly common form of charging in the coming years. According to a new report from Pike Research, the market for wireless power systems – encompassing mobile devices, consumer electronics, industrial applications, infrastructure devices, and electric vehicles – will triple over the next 8 years, growing from $4.9 billion in revenue in 2012 to $30.8 billion in 2020.
“While the market is still nascent, the rapid spread of wireless charging systems for mobile devices is a clear indicator that the broader wireless power sector has the potential to be a game-changer,” says vice president Bob Gohn. “Evidence is building that wireless power technology can be an environmentally friendly technology and that, before the end of the decade, it could contribute to a significant reduction in carbon emissions and embedded energy used to produce, ship, and dispose of conventional charging equipment.”
While North America is the largest market for wireless power today by a wide margin, it will be surpassed by mid-decade by the Asia Pacific region. Wireless power revenue in Asia Pacific will reach $6 billion in 2020, the cleantech market intelligence firm forecasts, representing 40% of the worldwide market. By application, the largest sector for wireless power in 2020 will still be mobile devices, with 36% of total revenue.
Pike Research’s report, “Wireless Power”, examines the global market opportunity for wireless power charging across various application segments including mobile devices, consumer electronics, industrial devices, infrastructure, and electric vehicles. It also outlines and explores the remaining technological and cost hurdles, examines the market issues, and explores the most appropriate business models for bringing wireless power technologies to market. The study profiles key industry players and provides market forecasts for unit shipments and revenue, segmented by application and world region, through 2020. An Executive Summary of the report is available for free download on the firm’s website.
Mobile Devices, Consumer Electronics, Industrial Devices, Wireless Power Infrastructure, and Wireless Charging of Electric Vehicles: Technology Analysis, Environmental Impact, and Market Forecasts.
Wireless power is beginning to see wider acceptance and will become an increasingly ubiquitous form of charging for a number of applications. The integration of wireless power technology into mobile and consumer electronics devices is already taking shape through standardization on a worldwide scale. The technology is enabling plug-free and, in many cases, contactless charging for a wide range of devices and machinery – from military and medical devices to electric vehicles (EVs) to unmanned aircraft. Originating with simple inductive charging mechanisms that require a direct point of contact between charger (transmitter) and device (receiver), these systems have evolved to the point of providing an intelligence that will see devices becoming connected to the wider power infrastructure.
The barriers to adoption are lifting and evidence is building that wireless power technology can be an environmentally friendly technology and that, before the end of the decade, it could contribute to a significant reduction in carbon emissions and embedded energy used to produce, ship, and dispose of conventional charging equipment. The technology has matured and the industry is beginning to consolidate; a wide range of applications exist, clear leaders are emerging; and, in terms of technology, a value chain has formed from silicon vendors to technology ODMs to OEMs combining to establish standards for interoperability going forward.
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