Consumers are carrying more personal electronic devices and establishing a need for more flexible charging solutions
A new report from Navigant Research analyzes the global market for wireless power across seven applications, with global market forecasts, segmented by region, receiver and transmitter application, and technology, through 2024.
Wireless power is finally achieving substantial growth in adoption, with well over 100 million mobile phones expected to be integrated with wireless charging functionality. Despite challenges of competing industry standards and limited consumer awareness of the technology, the increasing reliance on electronics and the need to power them will continue to drive the market for wireless power. Click to tweet: According to a recent report from @NavigantRSRCH, global revenue from wireless power is expected to total $78.9 billion from 2015 to 2024.
“Despite the fact that many wireless power receivers are natively integrated into many mobile phones, consumers remain mostly unaware of the technology,” says Benjamin Freas, principal research analyst with Navigant Research. “In addition, the current generation of the technology doesn’t provide a truly wireless experience—power transfer only occurs a very limited distance between the transmitter and the receiver, making it somewhat more akin to a universal charger than a true wireless experience.”
In recent years, the average number of electronic devices a person carries has increased, and this trend is expected to continue, according to the report. Wearable devices are poised for robust growth and will only add to the growing power needs of consumers; the increase in these devices has created a need for more batteries and more flexible charging solutions.
The report, Wireless Power, examines the global market for wireless power, with a focus on mobile consumer electronics, appliances and stationary consumer electronics, automotive, and industrial, military, and medical applications. The study analyzes the current market conditions and technology issues and trends that affect the adoption and success of wireless power systems. Global market forecasts, segmented by region, receiver and transmitter application, and technology, extend through 2024. The report also examines the key technologies (inductive power, magnetic resonance, radio frequency, or RF, power transmission, ultrasound, infrared, and microwave) and applications related to wireless power systems, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Lorenz
* The information contained in this press release concerning the report, Wireless Power, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.