Report ID: SQMIG45J2164
Report ID:
SQMIG45J2164 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|
Tables:
61 |
Figures:
75
Asia-Pacific holds the highest market share due to rapid advancement in several sectors of that region. The top countries are China and Japan. China is ahead in electric vehicle production, smart home electronics, and defense equipment; whereas Japan focuses on creating high-end medical technology and equipment. One of the great successes is Denso's launch in June 2022 of wireless powertrain technology that makes electric vehicles charge their batteries even when stationary or on the move. By eliminating the problem of lacking charging infrastructure, this innovation boosts the convenience of the EV owners. With such continuous investment by these two nations in research and development, Asia-Pacific will only continue being the global wireless power transmission leader. As a result, it shall fuel this market even further in the days to come.
Contrarily, the US is one of the most advanced and innovative nations for the continuously burgeoning wireless power transmission (WPT) markets in North America. Advances in communication technology are mainly the reason behind growth in this region. Increases in smart device use, along with a boom in electric vehicles, further promote growth in the military sector. WPT is creating a new arena of application areas as the need for more efficient wireless power solutions increases. Electric vehicles are gaining in popularity, and with the military sector continuing to use WPT technology, North America is expected to undergo steady market development and advances that will fuel further development.
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Report ID: SQMIG45J2164