Covid-19 Impact on Wireless Power Receiver Market Analysis by Size, Share, Emerging Trends, Sales Revenue and Regional Forecast to 2022

The COVID-19 pandemic disruption is estimated to transform the Wireless Power Receiver Market in the years to come drastically, and its after-effects will be persistently seen in the years ahead.

Wireless Power Receiver Market

Adapting to the recent novel COVID-19 pandemic, the impact of the COVID-19 pandemic on the global Wireless Power Receiver Market is included in the present report. The influence of the novel coronavirus pandemic on the growth of the Wireless Power Receiver Market is analysed and depicted in the report.

The global wireless power receiver market is presumed to register a remarkable CAGR during the assessment period (2016-2022) owing to the growing smartphone industry, asserts Market Research Future (MRFR). Wireless power receiver can be referred to a product which helps in receiving the power for a product wirelessly. For instance, Apple Smart Watch and Galaxy S6 smartphone are products designed to help transmit electrical energy without the help of any cables or wires.

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Drivers and Constraints Impacting the Market

With the increasing smartphone industry and growing consumer awareness, the global market for wireless power receiver is considered to foster during the assessment period. Smartphone companies are also heavily investing in their research and development activities, which is further driving the market. The increased use of electronics and the constant need to power them has resulted in the adoption of wireless power receiver across the globe. Moreover, technological advancements and growing smartphone industry are some of the other key factors considered to augment the market growth.

On the flip side, high cost of such wireless power receivers is likely to impede the market growth during the estimated period.

Global Wireless Power Receiver Market: Segmental Analysis

The global wireless power receiver market has been segmented on the basis of technology, application, and region.

By mode of technology, the global wireless power receiver market has been segmented into capacitive coupling, inductive coupling, and others.

By mode of application, the global wireless power receiver market has been segmented into consumer electronics which comprise smartphones, automotive, tablets, wearable devices, industrial, aerospace and defense, healthcare, and others.

Detailed Regional Analysis

The market’s region wise study includes regions such as Asia Pacific, Europe, North Americas, and Rest of the World. The Asia Pacific holds largest market share globally. The North American market is considered the second biggest market for Wireless Power Receivers with a rapidly growing market size since the year 2015 and is anticipated to be the second biggest market by the end of year 2022.The European market is expected to follow the North American market in terms of the growth levels for this particular market.

Industry News

One of the leading providers in wireless power, WiTricity has recently revealed 530e iPerformance, the first-ever wireless charging-enabled hybrid electric vehicle which is to be installed in BMW as a wireless charging system. The German government has adopted and strategized an investment and incentive program which will promote a switch to electric vehicles and a necessary Europe-wide ban on ICE cars by the end of 2030. WiTricity has also patented the technology which offers to drive HEVs and EVs which can be charged on a charging pad on the ground.

Global Competitive Analysis

Due to the productive potential of this market, the candidates in the industry are targeting to grow their market share by using of major assets to enable growth transformations which will be good for the long run transformation of the sector. This approach is promising for the volume driven growth of the industry. The assorted products will intensify the demand levels of the sector which will lead to rapid growth of the market. The industry is preserving the growth potential of the market by way of constant ongoing advances and supporting financial flexibility to spend in the finest strategies when they arise.

Few of the important players in this market are Texas Instruments Inc. (U.S.), Samsung Electronics Co Ltd. (South Korea), NXP Semiconductors (Netherlands), Integrated Device Technology, Inc. (U.S.) and Powermat Technologies Ltd (Israel).

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