The global wireless power transmission market was valued at $9.6 billion in 2023, and is projected to reach $50.0 billion by 2032, growing at a CAGR of 20.7% from 2024 to 2032.
Wireless power transmission refers to the transfer of electrical energy from a power source to an electrical load without the need for physical connectors or wires. It uses electromagnetic fields to transmit power over short or long distances, employing technologies such as inductive coupling, magnetic resonance, or microwave/radio frequency transmission. Wireless power transmission eliminates the need for traditional cables, enhancing convenience and enabling new applications in consumer electronics, electric vehicles, medical devices, and industrial systems.
The growth of the wireless power transmission market is majorly driven by rise in popularity of portable devices such as smartphones, smartwatches, and earbuds coupled with surge in demand for convenience in charging. A 2023 study published by Statista revealed that the number of mobile devices operating worldwide stood at 15 billion in 2021, and is estimated to reach 18.22 billion by 2025. In addition, increase in penetration of electric vehicles significantly contributes toward the market growth. This is attributed to the fact that wireless power transmission technologies are increasingly being integrated into electric vehicles charging systems to enable seamless charging experiences.
According to the International Energy Agency, a Paris-based autonomous intergovernmental organization, over 3 million electric vehicles were sold in the first quarter of 2024, around 25% higher as compared to 2023. This number is estimated to reach 17 million by the end of 2024, exhibiting a 20% year-on-year increase. Thus, as the global electric vehicle market is expected to grow substantially in the next decade, the demand for efficient charging solutions is likely to increase simultaneously. The growing focus on minimally invasive medical technologies further supports the growth of the global market.
Moreover, increase in demand for smart homes and workplaces significantly fuels the demand for the integration of wireless charging pads and surfaces, which fosters the market growth. However, the limited range restricts the widespread application of wireless power transmission systems, particularly in large-scale power transmission or in industries requiring long-distance power delivery, thus hampering the market growth.
Furthermore, high initial cost associated with the installation of wireless power transmission systems in specialized infrastructure and equipment acts as the key deterrent factor of the global market. On the contrary, continuous improvements in resonant and inductive coupling have enhanced the efficiency, range, and safety of wireless power transmission systems, making them more commercially viable. Such developments are expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
The global wireless power transmission market is segmented into technology, type, application, and region. By technology, the market is categorized into near field technologies and far field technologies. On the basis of type, it is segregated into device with battery and devices without battery. Depending on application, it is fragmented into receiver application and transmitter application. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Wireless power transmission refers to the transfer of electrical energy from a power source to an electrical load without the need for physical connectors or wires. It uses electromagnetic fields to transmit power over short or long distances, employing technologies such as inductive coupling, magnetic resonance, or microwave/radio frequency transmission. Wireless power transmission eliminates the need for traditional cables, enhancing convenience and enabling new applications in consumer electronics, electric vehicles, medical devices, and industrial systems.
The growth of the wireless power transmission market is majorly driven by rise in popularity of portable devices such as smartphones, smartwatches, and earbuds coupled with surge in demand for convenience in charging. A 2023 study published by Statista revealed that the number of mobile devices operating worldwide stood at 15 billion in 2021, and is estimated to reach 18.22 billion by 2025. In addition, increase in penetration of electric vehicles significantly contributes toward the market growth. This is attributed to the fact that wireless power transmission technologies are increasingly being integrated into electric vehicles charging systems to enable seamless charging experiences.
According to the International Energy Agency, a Paris-based autonomous intergovernmental organization, over 3 million electric vehicles were sold in the first quarter of 2024, around 25% higher as compared to 2023. This number is estimated to reach 17 million by the end of 2024, exhibiting a 20% year-on-year increase. Thus, as the global electric vehicle market is expected to grow substantially in the next decade, the demand for efficient charging solutions is likely to increase simultaneously. The growing focus on minimally invasive medical technologies further supports the growth of the global market.
Moreover, increase in demand for smart homes and workplaces significantly fuels the demand for the integration of wireless charging pads and surfaces, which fosters the market growth. However, the limited range restricts the widespread application of wireless power transmission systems, particularly in large-scale power transmission or in industries requiring long-distance power delivery, thus hampering the market growth.
Furthermore, high initial cost associated with the installation of wireless power transmission systems in specialized infrastructure and equipment acts as the key deterrent factor of the global market. On the contrary, continuous improvements in resonant and inductive coupling have enhanced the efficiency, range, and safety of wireless power transmission systems, making them more commercially viable. Such developments are expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
The global wireless power transmission market is segmented into technology, type, application, and region. By technology, the market is categorized into near field technologies and far field technologies. On the basis of type, it is segregated into device with battery and devices without battery. Depending on application, it is fragmented into receiver application and transmitter application. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competitive Analysis
The key players operating in the wireless power transmission market include Murata Manufacturing Co., Ltd., Renesas Electronics Corporation, Samsung Electronics Co. Ltd., Qualcomm Technologies, Inc., Powermat, Texas Instruments Incorporated, Energous Corporation, WiTricity Corporation, NXP Semiconductors, and TDK Corporation. These players have adopted acquisition, agreement, collaboration, joint venture, partnership, and product launch as the key developmental strategies to strengthen their foothold in the global market.Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the wireless power transmission market analysis from 2023 to 2032 to identify the prevailing wireless power transmission market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the wireless power transmission market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global wireless power transmission market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- Devices with Battery
- Devices without Battery
By Application
- Receiver Application
- Receiver Application Type
- Smartphones
- Tablets
- Wearable Electronics
- Notebooks
- Electrical Vehicle Charging
- Others
- Transmitter Application
- Transmitter Application Type
- Standalone Chargers
- Automotive (In-Vehicle Charging System)
- Electric Vehicle Charging
- Furniture
- Industrial
By Technology
- Near-Field technologies
- Near-Field Technologies
- Inductive
- Magnetic Resonance
- Capacitive Coupling
- Far-Field Technologies
- Far-Field Technology
- Microwave and RF
- Laser and Infrared
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Gemany
- UK
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Texas Instruments Incorporated
- Qualcomm Technologies, Inc.
- Renesas Electronics Corporation
- Samsung Electronics Co. Ltd.
- Murata Manufacturing Co., Ltd.
- Powermat
- Energous Corporation
- WiTricity Corporation
- NXP Semiconductors
- TDK Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: WIRELESS POWER TRANSMISSION MARKET, BY TECHNOLOGY
CHAPTER 5: WIRELESS POWER TRANSMISSION MARKET, BY TYPE
CHAPTER 6: WIRELESS POWER TRANSMISSION MARKET, BY APPLICATION
CHAPTER 7: WIRELESS POWER TRANSMISSION MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- Texas Instruments Incorporated
- Qualcomm Technologies, Inc.
- Renesas Electronics Corporation
- Samsung Electronics Co. Ltd.
- Murata Manufacturing Co., Ltd.
- Powermat
- Energous Corporation
- WiTricity Corporation
- NXP Semiconductors
- TDK Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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