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Industry News
July 6, 2012
The Market for Wireless Power Systems Will Triple Over the Next 8 Years, Surpassing $15 Billion by 2020
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.
More news and information regarding the latest developments in Smart Grid electronics can be found at Darnell’s SmartGridElectronics.Net.
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