BOULDER, Colo.--(BUSINESS WIRE)--Originating with simple inductive charging mechanisms that require a direct point of contact between charger (transmitter) and device (receiver), wireless power systems are evolving toward devices that connect to the wider power delivery infrastructure. As the technology matures and the industry consolidates, wireless power is beginning to see greater acceptance across a range of applications, and will become an increasingly common form of charging in the coming years. According to a new report from Pike Research, the market for wireless power systems – encompassing mobile devices, consumer electronics, industrial applications, infrastructure devices, and electric vehicles – will triple over the next 8 years, growing from $4.9 billion in revenue in 2012 to $15.1 billion in 2020.
“While the market is still nascent, the rapid spread of wireless charging systems for mobile devices is a clear indicator that the broader wireless power sector has the potential to be a game-changer,” says vice president Bob Gohn. “Evidence is building that wireless power technology can be an environmentally friendly technology and that, before the end of the decade, it could contribute to a significant reduction in carbon emissions and embedded energy used to produce, ship, and dispose of conventional charging equipment.”
While North America is the largest market for wireless power today by a wide margin, it will be surpassed by mid-decade by the Asia Pacific region. Wireless power revenue in Asia Pacific will reach $6 billion in 2020, the cleantech market intelligence firm forecasts, representing 40% of the worldwide market. By application, the largest sector for wireless power in 2020 will still be mobile devices, with 36% of total revenue.
Pike Research’s report, “Wireless Power”, examines the global market opportunity for wireless power charging across various application segments including mobile devices, consumer electronics, industrial devices, infrastructure, and electric vehicles. It also outlines and explores the remaining technological and cost hurdles, examines the market issues, and explores the most appropriate business models for bringing wireless power technologies to market. The study profiles key industry players and provides market forecasts for unit shipments and revenue, segmented by application and world region, through 2020. An Executive Summary of the report is available for free download on the firm’s website.
Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets. The company’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors. For more information, visit www.pikeresearch.com or call +1.303.997.7609.