Wireless Power Transmission Market Lack of Necessary Regulations Hindering the Market to Reach US$ 20,000 Mn by 2026
The global wireless power transmission market derives significant growth from the usage of wireless power transmission in energy management and efficient transfer of power. It also gains remarkably from the technological advancements and the rise in digitization. The rising awareness about the benefits of wireless power transmission, such as providing clutter-free charging without cable, is fueling its demand substantially. Consumer electronic devices that need charging have become its key end users. Since wireless chargers can determine the amount of power required by every electronic device, avoiding overcharging of batteries, their usage has increased manifolds. Furthermore, as there is no AT&C loss, the loss in electricity is much less in wireless power transmission in comparison with wired power transmission. This factor is likely to fuel the application of wireless power transmission further, boosting the worldwide wireless power transmission market in the years to come, reports the research study. Request A Sample of Wireless Power Transmission Market https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id =49866 According to this research report, the opportunity in the global wireless power transmission market will expand at a CAGR of more than 15% over the period from 2018 to 2026. In 2017, the overall valuation of this market was US$4,000 mn. Increasing at this pace, it will reach US$20,000 mn by the end of the forecast period. All these facts and figures points towards a healthy future of the worldwide wireless power transmission markets. However, the infrastructural challenges, especially in developing countries, may limit the growth of the wireless power transmission market in the years to come. The absence of common standards and the high cost of technology may also hamper the growth of the global market, notes the market study. Asia Pacific to Emerge as Most Promising Regional Market In terms of the region, Asia Pacific has been reporting its dominance on global wireless power transmission market. The constant rise in the wireless power transmission in many Asian countries has enabled consumers to have an easy access to electricity even in remote areas. This trend has turned into a catalyst for the shift from traditional power transmission to wireless one. In 2016, Asia Pacific accounted for a share of 40% in the global market. However, North America will overtake Asia Pacific in the near future and hold the most prominent market share. The increasing investments by leading players in the energy sector will drive this regional market over the next few years, reports the research study.
For More Information,Request Brochure@