Wireless Power Transmission Market size is Estimated to Attain $35,226.4 Million by 2030 | Registering a CAGR of 21.3%
WILMINGTON, DELAWARE , UNITED STATES, October 4, 2023 /EINPresswire.com/ — Allied Market Research published a report on the Wireless Power Transmission Market by Technology, Type, and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030.
The global wireless power transmission market size was valued at $5,705.1 million in 2020, and is projected to reach $35,226.4 million by 2030, registering a CAGR of 21.3% from 2021 to 2030.
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Wireless power transmission is a process that occurs in a system, where power source transmits electromagnetic energy to electric load with no wires. This wireless transmission transmits power to remote locations. Wireless power transmission has great demand in the consumer electronics, for example laptop, tablets, smartphones and other devices. Furthermore, the technology is rapidly being implemented in sectors such as defense and healthcare.
The global wireless power transmission market is anticipated to witness significant growth over the period of forecast. Factors such as increase in application of wireless power transmission in the consumer electronics and rising need for battery powered equipment mainly drives the wireless power transmission market growth.
In addition, ongoing developments in the long-range wireless power transmission further boosts growth of the market. However, high cost associated with wireless power transmission technology may hamper growth of the market during the forecast period. On the contrary, integration of wireless charging with electric vehicle charging applications will create lucrative growth opportunities for the market growth.
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Competitive Analysis:
The competitive environment of the wireless power transmission industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, wireless power transmission market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Some of the major key players of the wireless power transmission industry include:
⦁ Analog Devices Inc.
⦁ Energous Corporation
⦁ Koninklijke Philips N.V.
⦁ NXP Semiconductors N.V.
⦁ Powermat Technologies Ltd.
⦁ Renesas Electronics Corporation
⦁ Samsung Electronics Co. Ltd.
⦁ Semtech Corporation
⦁ TDK Corporation
⦁ WiTricity Corporation
According to the CXOs of leading companies, the wireless power transmission market is going through enormous transformation and growth. Factors such as increase in application of wireless power transmission in the consumer electronics and rising need for battery powered equipment mainly drives growth of the wireless power transmission market.
In addition, ongoing developments in the long-range wireless power transmission further boosts growth of the market. However, high cost associated with wireless power transmission technology may hamper growth of the market during the forecast period. On the contrary, integration of wireless charging with electric vehicle charging applications will create lucrative growth opportunities for the market growth.
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Key Benefits for Stakeholders:
⦁ This study comprises analytical depiction of the global wireless power transmission market size along with the current trends and future estimations to depict the imminent investment pockets.
⦁ The overall wireless power transmission market analysis is determined to understand the profitable trends to gain a stronger foothold.
⦁ The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
⦁ The current wireless power transmission market forecast is quantitatively analyzed from 2019 to 2030 to benchmark the financial competency.
⦁ Porter’s five forces analysis illustrates the potency of the buyers and the wireless power transmission market share of key vendors.
⦁ The report includes the market trends and the market share of key vendors.
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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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