Wireless Power Transmission Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030

The report on the global wireless power transmission market provides qualitative and quantitative analysis for the period from 2021-2030. The global wireless power transmission market was valued at USD 35.02 billion in 2022 and is expected to reach USD 186.76 billion in 2030, with a CAGR of 20.39% during the forecast period 2023-2030. The study on wireless power transmission market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.

Wireless Power Transfer (WPT) is a technology that enables the transmission of electrical power without the use of physical wires. This innovative approach relies on the use of time-varying electric, magnetic, or electromagnetic fields to transfer power. In wireless power transmission systems, a power source sends electromagnetic energy to an electric load without the use of traditional conductive wires. The primary methods employed in wireless power transmission include microwaves, solar cells, and resonance. Microwaves are harnessed within electrical devices to transmit electromagnetic radiation from a source to a receiver, effectively enabling the wireless transfer of power. This eliminates the necessity for physical connections, making it particularly advantageous for various applications, including military uses. In military contexts, wireless power transmission plays a crucial role in applications such as robotic systems, wireless charging technology to assist soldiers, and sensor deployment in submarines. This technology revolutionizes power distribution by offering efficient and wire-free solutions.

The growth of the wireless power transmission market is primarily driven by the increasing demand for battery-powered devices and the need for efficient charging systems. Additionally, the emergence of new applications for wireless power transmission, such as solar-power satellites, is expected to further stimulate global market growth. Moreover, the continuously improving efficiency of power transmission systems is anticipated to create favorable conditions for the market in the near future. Notably, popular smartphones like Samsung Galaxy, Google Nexus, and Motorola Droid are equipped with wireless charging capabilities, contributing to the broader adoption of inductive wireless power transmission in the smartphone market. In the automotive sector, companies like Honda, Nissan, and Toyota Motors are increasingly focusing on electrically charged vehicles, opening up significant opportunities for wireless power transmission solutions over the forecast period. However, challenges exist, including the interference of microwaves with existing communication systems and the rising costs associated with wireless power technology, which are hindering the market's growth. Lockdown measures led to the suspension of semiconductor and electronics production facilities due to a shortage of available workforce worldwide. Travel bans and facility closures imposed by governments kept workers away from factories, which disrupted market growth. Additionally, the market suffered from raw material shortages and decreased demand during the pandemic, leading to constraints in its growth prospects within the forecast period.

The global wireless power transmission market is divided into several regions, including North America, Europe, Asia Pacific, and the Middle East & Africa. Currently, North America holds the largest share of the global wireless power transmission market. Notably, Mexico is emerging as a burgeoning manufacturing hub, driven by cost-effectiveness and increasing demand in North American countries like the United States and Canada. However, it is expected that the Asia Pacific region will exert significant dominance and drive market expansion during the forecast period. This is particularly attributed to the flourishing automobile sector in countries like China and India, which is poised to fuel market growth in the coming years.

Report Findings

1) Drivers

• The increasing need for battery powered equipment and effective charging systems is expected to propel the market growth.
• Advanced developments in the long-range wireless power transmission will drive market growth.

2) Restraints

• The high cost of the wireless power transmission will restrain the growth.

3) Opportunities

• The rising efficiency of power transmission will provide growth opportunities to the market.

Research Methodology

A) Primary Research

The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents.

The primary respondents approached include:

1. Key Opinion Leaders
2. Internal and External subject matter experts
3. Professionals and participants from the industry

The primary research respondents typically include:

1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.

B) Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

The secondary sources of the data typically include:

1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies

Segments Covered

The global wireless power transmission market is segmented on the basis of range, type, and end user industries.

The Global Wireless Power Transmission Market by Range

• Near Field
• Far Field

The Global Wireless Power Transmission Market by Type

• Microwave Power Transmission
• Inductive Coupling Power Transmission and Resonance

The Global Wireless Power Transmission Market by End User Industries

• Consumer Electronics
• Healthcare
• Automotive
• Industrial
• Others (Drones, Solar Power Satellite)

Company Profiles

The companies covered in the report include:

• Koninklijke Philips N.V.
• PowerbyProxi (acquired by Apple Inc.)
• SAMSUNG
• Texas Instruments Incorporated
• Integrated Device Technology, Inc.(acquired by Renesas)
• TDK CORPORATION
• Powermat
• WiTricity Corporation
• PLUGLESS POWER INC.
• Salcomp Plc

What does this Report Deliver?

1. Comprehensive analysis of the global as well as regional markets of the wireless power transmission market.

2. Complete coverage of all the segments in the wireless power transmission market to analyze the trends, developments in the global market and forecast of market size up to 2030.

3. Comprehensive analysis of the companies operating in the global wireless power transmission market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.

4. The Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.

This product will be delivered within 1-3 business days.