Global Wireless Power Transmission Market Analysis and Opportunity Assessment, 2014 - 2020

Global Wireless Power Transmission Market Analysis and Opportunity Assessment, 2014 - 2020

Wireless power transmission (WPT) or wireless power transfer refers to the transfer of energy or power from one place to another without being connecting through wires. In this, electromagnetic energy is transferred from power sources to electric loads.

Wired transmission is the most commonmode of transmitting electrical energy. Its main drawback, the loss of energy during transmission, drives the demand for wireless power transmission. Being fast and consistent, WPT can be used both for short and long range transmissions. A major advantage of WPT is low maintenance cost. However, there is a high initial cost i.e. capital cost involved in implementing the WPT. Another disadvantage is interference of microwaves with current communication systems. WPT is generally used for transfer of energy to remote areas. Major application of WPT is in consumer electronics goods such aslaptops, tablets and smartphones. The largest application of WPT is in solar-power satellites. WPT is also used in fuel-free aircrafts, fuel-free electric automobiles, robots and fuel-free rockets.

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Globally, WPT technology is being accepted positively, outdated wired power transmission tools are being replaced with the latest technology. Countries likethe U.S.are investing high on the adoption of WPT technology, to take full advantage of their power system networks and reduce the installation cost of overhead cables. This technology is still in its initial stage, which providesa huge opportunity for new entrants to enter this market,conditional to their acceptance of the high capital cost. The main drivers for the market area huge demand by the battery functioned devices globally and decrease in high tension on Head Cables.Market is expected to show a double digit growth rate in coming five years (2015-2020). The growth is majorly driven by need of technological advancement and...

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