Wireless power systems market to surpass $15B by 2020
July 31, 2012 – The market for wireless power systems – encompassing mobile devices, consumer electronics, industrial applications, infrastructure devices, and electric vehicles – will triple over the next eight years, growing from $4.9 billion in revenue in 2012 to $15.1 billion in 2020, predicts a new report from Pike Research.
“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,” said 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,” he continued.
As wireless 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, stated the Wireless Power report.
North America is currently listed as the largest market for wireless power today by a wide margin, but the report predicted the Asia Pacific region will surpass it mid-decade.
According to the report, the cleantech market intelligence firm forecasts wireless power revenue in Asia Pacific will reach $6 billion in 2020, 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.
CLICK HERE for more information on the report.