(EMAILWIRE.COM, March 14, 2019 ) The wireless power transmission market was valued at $2.50 billion USD in 2016 and is expected to reach $11.27 billion USD by 2022, at a CAGR of 23.15% between 2017 and 2022. The base year considered for the study is 2016, and the forecast period is between 2017 and 2022.

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The inductive technology captured the largest share of the wireless power transmission market. However, the magnetic resonance has a competitive advantage over the inductive technology as it offers long range power and multiple devices charging capabilities. Along with these two technologies, far-field technologies such as microwave (RF) and laser/infrared-based power transmission would expect to revolutionize the market for wireless power transmission in the near future.

Microwave (RF) and laser/infrared-based power transmission is at the nascent research and development stage and expected to be commercialized in the next one or two years. The inductive technology is in the growth stage, while the magnetic resonate technology is in the introductory phase; however, the market for both is expected to grow in the future.

The research methodology used to estimate and forecast this market begins with capturing data on key vendor revenue through the secondary research such as company website, annual reports, investor presentations, webinars, and leading players’ newsletters. The vendor offerings are also taken into consideration to determine the market segmentation.

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The bottom-up procedure has been employed to arrive at the overall size of the global wireless power transmission market from the revenue of key players. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have been verified through the primary research by conducting extensive interviews with people holding key positions such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.

“European market is expected to grow at the highest rate between 2017 and 2022”

Europe, being one of the early adopters of this technology, is expected to grow at a high rate. Europe is the automotive hub, and the developments in the European market, especially in electric vehicles and wearable electronics, are expected to boost the growth of the wireless power transmission market in this region. The European Green Vehicles Initiative Association (EGVI), a Europe-based company, has undertaken UNPLUGGED and FABRIC projects on wireless charging of electric vehicles.

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The major players involved in the wireless power transmission market include Samsung Electronics Co., Ltd. (South Korea), Qualcomm Inc. (U.S.), Texas Instruments Inc. (U.S.), TDK Corp. (Japan), Witricity Corp. (U.S.), and Integrated Device Corp. (U.S.).

Various start-ups in the wireless power transmission market include Ossia, Inc. (U.S.), Wi-Charge Ltd. (Israel), Energous Corporation (U.S.), Humavox Ltd. (Israel), and Fulton Innovation LLC (U.S.).

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