Wireless Power for Mobile Devices Will Reach $5 Billion in Market Value by 2020, Forecasts Pike Research
BOULDER, Colo.--(BUSINESS WIRE)-- The ease and convenience of transmitting power via plug-free and, in many cases, contactless charging is fueling the adoption of wireless power for a wide range of devices and machinery - from military and medical devices to electric vehicles to unmanned aircraft. The market is led by wireless charging systems for mobile and consumer electronics devices, applications that have already taken shape through standardization on a worldwide scale. According to a new report from Pike Research, a part of Navigant's Energy Practice, wireless power for mobile devices will constitute a market worth more than $5 billion annually by 2020.
The total market for wireless power technologies across all applications will surpass $15 billion in 2020, the study concludes.
"The barriers to adoption for wireless power are lifting, and it's clear that this is an environmentally friendly set of technologies that, before the end of the decade, could contribute to a significant reduction in carbon emissions and embedded energy used to produce, ship, and dispose of conventional charging equipment," says research director Eric Woods. "Wireless power will become a ubiquitous form of charging in many applications."
The increasing adoption of feature-laden and power hungry devices, particularly smartphones, is creating high demand for convenient and inexpensive charging systems. Several mobile service providers, including Verizon Wireless in the United States and NTT DOCOMO in Japan, have begun integrating wireless charging systems into their devices, according to the report. The future of wireless power can be seen in efforts to move toward a smarter connected power infrastructure, including wireless charging hotzones similar to Wi-Fi hotspots.
The 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 Pike Research website.
About Pike Research
Pike Research, which joined Navigant's global Energy Practice on July 1, 2012, provides in-depth analysis of 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 Smart Energy, Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, "Wireless Power," is a summary and reflects Pike 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 Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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