Wireless power forecast as $15-billion market
by CanadianManufacturing.com Staff
Research firm says wireless power has environmental benefits.
BOULDER, Colo.—the market for wireless power systems will triple over the next eight years, with revenues forecast to grow to $15.1 billion in 2020, according to Boulder, Colo.-based energy research firm Pike Research.
With revenues estimated to hit $4.9 billion in in 2012, the market covers mobile devices, consumer electronics, industrial applications, infrastructure devices, and electric vehicles
“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,” says 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.”
While North America is currently the largest market for wireless power by a wide margin, it will be surpassed mid-decade by the Asia-Pacific region. Wireless power revenue there could reach $6 billion in 2020, representing 40% of the worldwide market.
By application, Gohn predicts the largest sector for wireless power in 2020 will still be mobile devices, accounting for 36% of total revenue.