Global Wireless Power Transmission Market to Reach $25.9 Billion by 2027
Amid the COVID-19 crisis, the global market for Wireless Power Transmission estimated at US$7.2 Billion in the year 2020, is projected to reach a revised size of US$25.9 Billion by 2027, growing at aCAGR of 20.1% over the period 2020-2027. Near-Field, one of the segments analyzed in the report, is projected to record 17% CAGR and reach US$15.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Far-Field segment is readjusted to a revised 26.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.1 Billion, While China is Forecast to Grow at 19.7% CAGR
The Wireless Power Transmission market in the U.S. is estimated at US$2.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.6 Billion by the year 2027 trailing a CAGR of 19.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.6% and 17.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 14.1% CAGR.We bring years of research experience to this 7th edition of our report. The 135-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Integrated Device Technology, Inc.
- Qualcomm, Inc.
- Samsung Electronics Co., Ltd.
- TDK Corporation
- Texas Instruments, Inc.
- Witricity Corporation