Wireless Power Receiver Market to Record an Exponential CAGR by 2025

With the advancement in technology, new products are coming into picture every day. Wireless power receiver is a product which helps to receive the power for a product wirelessly. These products are designed such that electrical energy is transmitted without any wires or cables.

With the increased usage of electronics and the constant need to power them, led to the increased adoption of wireless power. The substantial growth in the field of mobile phone market continues to be the entry point for the increased adoption of wireless power. The commoditization phase for Wireless power receiver market has achieved especially for mobile phones. The overall efficiency of a wireless power system is the most important factor that determines its performance. The efficiency of a system measures the amount of power being transferred between the power source and the receiving device. This, in turn, determines the aspects such as charging speed and transmission distance. With the increasing sales of wireless charging transmitters, the proportion of end users who are interacting with the technology will raise over forecast period.

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Technology has reached a level where wearable device can be charged with body heat is expected to be soon in the markets. This will be the next level in wireless power receiver.

The wireless charging works on the principle of magnetic resonance or inductive power technology, which uses electromagnetic field to transfer electric current. However, the magnetic resonance technology offers long range power and multiple devices charging capabilities. So it has a competitive advantage over the inductive technology. 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.

Wireless charging capability have been on the market for several years now, with features and technology advancing with each new release. While wireless chargers has many benefits, the charging rate is still expected to be same as when plugged into the cable, which means charging at 5W. But soon expectations will be charging times equivalent to those fast charge feature which is now added to high-end phones. The new medium power (15W) specification which is about to be approved by the WPC is expected to support this capability. Designing of even 5W wireless power system is associated with a lot of technical changes. As power levels continue to increase, thermal designs will become more challenging.

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The global market for wireless power transmission market is segmented on the basis of technology, implementation, receiver application, transmitter applications, and geography. Based on the technology type, the market is segmented into near-field technology and far-field technology. The near-field technology consist of inductive, magnetic resonance and capacitive coupling while the far-field technology consist of microwave and laser technology. On the basis of implementation the market can be segmented into integrated and aftermarket. On the basis of receiver applications, the market can be segmented into smartphones, tablets, wearable electronics, notebooks, other consumer electronics, electric vehicle charging and industrial applications. In terms of transmitter application, the market can be segmented into standalone chargers, automotive (In Vehicle), electric vehicle charging and furniture. Moreover, on the basis of geography the global market is classified into North America, Europe, Middle East and Africa, Asia Pacific and South America.

Globally, Asia Pacific holds largest market share. North America is the second largest market for Wireless Power Receivers.

Some of the key players in this market are: Samsung Electronics Co Ltd. (South Korea), Texas Instruments Inc. (U.S.), Integrated Device Technology, Inc. (U.S.), NXP Semiconductors (Netherlands), Powermat Technologies Ltd (Israel), WiTricity Corporation (U.S.), PowerbyProxi (New Zealand), Qualcomm Inc. (U.S.), TDK Corporation (Japan), Convenient Power HK Limited (China) among others.

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