Wireless Power Receiver Market Report
Increased focus on consumer electronics has been one of the main factors driving the wireless power receiver industry. Market Research Future which focuses in market reports related to the semiconductors and electronics sector amongst others lately published a report on this industry. The market is anticipated to develop at an exceptional CAGR while attaining a good revenue share in the forecast period.
Increased rate of R & D in this sector has been instrumental to the growth of the market. Consumer demand has been rising these days steadily due to expectation for more refined technology and better devices. The need for easy charging options have increased this markets demand further.
Industry Segments
The market for wireless power receivers have been segmented on the basis of application and technology. The segmentation on the basis of technology comprises of capacitive coupling, inductive coupling, and others. The application type of industry includes healthcare, automotive, aerospace and defense, industrial and consumer electronics which are additionally divided into tablets, smartphones, and wearable devices among others.
Detailed Regional Analysis
The market’s region wise study includes regions such as Asia Pacific, Europe, North Americas, and Rest of the World. The Asia Pacific holds largest market share globally. The North American market is considered the second biggest market for Wireless Power Receivers with a rapidly growing market size since the year 2015 and is anticipated to be the second biggest market by the end of year 2022.The European market is expected to follow the North American market in terms of the growth levels for this particular market.
Regional Insights
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.
Industry News
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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Wireless Power Receiver Market SizeThe 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 MarketWith 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.
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.Increased focus on consumer electronics has been one of the main factors driving the wireless power receiver industry.
Market Research Future which focuses in market reports related to the semiconductors and electronics sector amongst others lately published a report on this industry.
Wireless Power Receiver MarketThe 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 MarketWith 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 AnalysisThe 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.Regional InsightsGeographically, 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.
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