London, 05 December 2014 – TechNavio, a tech-focused research firm, has published a new report on the Global Wireless Power Transmission Market, which is expected to grow at a CAGR of 51.3 percent from 2015-2019.
The adoption of wireless power transmission technology is on the rise, as traditional wired power transmission equipment is gradually being replaced with newer technology.
“Many countries are willing to pay more to implement wireless power transmission technology in order to maximize the efficiency of their power system networks, and reduce the installation of overhead cables,” says Faisal Ghaus, Vice President of TechNavio.
The Wireless Power Transmission Market is still in its early days, which leaves immense scope for new players to enter the market if they are willing to bear the high initial costs.
Many leading companies have already started investing in the market, including Convenient Power HK, Energizer Holdings, Integrated Device Technology, Leggett & Platt, and Qualcomm.
According to the new report from TechNavio, the APAC region is currently a frontrunner in the market because of rapid growth in the consumer electronics segment. Several projects related to the development of wireless power transmission systems in the region are in the works, which will contribute to strong market growth over the projected period.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
- Global Telecom Power Systems Market 2014-2018
- Global Automotive Automatic Transmission Market 2014-2018
https://www.technavio.com/%3Cp%3E%3Cstrong%3EAbout%20TechNavio%3C/strong%…
