BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research analyzes the global market for wireless power across seven applications, with global market forecasts, segmented by region, receiver and transmitter application, and technology, through 2024.
Wireless power is finally achieving substantial growth in adoption, with well over 100 million mobile phones expected to be integrated with wireless charging functionality. Despite challenges of competing industry standards and limited consumer awareness of the technology, the increasing reliance on electronics and the need to power them will continue to drive the market for wireless power. Click to tweet: According to a recent report from @NavigantRSRCH, global revenue from wireless power is expected to total $78.9 billion from 2015 to 2024.
“Despite the fact that many wireless power receivers are natively integrated into many mobile phones, consumers remain mostly unaware of the technology,” says Benjamin Freas, principal research analyst with Navigant Research. “In addition, the current generation of the technology doesn’t provide a truly wireless experience—power transfer only occurs a very limited distance between the transmitter and the receiver, making it somewhat more akin to a universal charger than a true wireless experience.”
In recent years, the average number of electronic devices a person carries has increased, and this trend is expected to continue, according to the report. Wearable devices are poised for robust growth and will only add to the growing power needs of consumers; the increase in these devices has created a need for more batteries and more flexible charging solutions.
The report, Wireless Power, examines the global market for wireless power, with a focus on mobile consumer electronics, appliances and stationary consumer electronics, automotive, and industrial, military, and medical applications. The study analyzes the current market conditions and technology issues and trends that affect the adoption and success of wireless power systems. Global market forecasts, segmented by region, receiver and transmitter application, and technology, extend through 2024. The report also examines the key technologies (inductive power, magnetic resonance, radio frequency, or RF, power transmission, ultrasound, infrared, and microwave) and applications related to wireless power systems, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’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 Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Wireless Power, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
