A new market study, titled “Wireless Power Receiver Market Report ” has been featured on Market Research Future.
The global wireless power receiver market is presumed to register a remarkable CAGR during the assessment period (2016-2022) owing to the growing smartphone industry, asserts Market Research Future (MRFR). Wireless power receiver can be referred to a product which helps in receiving the power for a product wirelessly. For instance, Apple Smart Watch and Galaxy S6 smartphone are products designed to help transmit electrical energy without the help of any cables or wires.
Drivers and Constraints Impacting the Market
With the increasing smartphone industry and growing consumer awareness, the global market for wireless power receiver is considered to foster during the assessment period. Smartphone companies are also heavily investing in their research and development activities, which is further driving the market. The increased use of electronics and the constant need to power them has resulted in the adoption of wireless power receiver across the globe. Moreover, technological advancements and growing smartphone industry are some of the other key factors considered to augment the market growth.
On the flip side, high cost of such wireless power receivers is likely to impede the market growth during the estimated period.
Global Wireless Power Receiver Market: Segmental Analysis
The global wireless power receiver market has been segmented on the basis of technology, application, and region.
By mode of technology, the global wireless power receiver market has been segmented into capacitive coupling, inductive coupling, and others.
By mode of application, the global wireless power receiver market has been segmented into consumer electronics which comprise smartphones, automotive, tablets, wearable devices, industrial, aerospace and defense, healthcare, and others.
Geographically, the wireless power receiver market span across regions namely, Asia Pacific, Europe, North America, and Rest-of-the-World.
Among all the regions, North America is estimated to dominate the global wireless power receiver market with the largest market share during the estimated period. The growth in this region is attributed to the increase in the number of wireless charging market. Also, with the presence of leading countries such as Canada and the United States, the market in this region is considered to expand at a remarkable rate.
Asia Pacific is considered to be the fastest growing region in the wireless power receiver market due to the presence of leading countries such as Taiwan China, Japan, South Korea, and India. Moreover, the proliferation of smartphones along with other smart devices owing to rise in disposable income is also considered to drive the market in this region.
One of the leading providers in wireless power, WiTricity has recently revealed 530e iPerformance, the first-ever wireless charging-enabled hybrid electric vehicle which is to be installed in BMW as a wireless charging system. The German government has adopted and strategized an investment and incentive program which will promote a switch to electric vehicles and a necessary Europe-wide ban on ICE cars by the end of 2030. WiTricity has also patented the technology which offers to drive HEVs and EVs which can be charged on a charging pad on the ground.
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