USD 8.52 Billion
Global Wireless Power Transmission Market Size, Share, Growth Analysis, By Technology(Near field technology, and Far-field technology), By Application(Receiver, and Transmitter) - Industry Forecast 2024-2031
Report ID:
SQMIG45J2164 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|
Tables:
61 |
Figures:
75
Global Wireless Power Transmission Market Insights
Global Wireless Power Transmission Market size was valued at USD 8.52 Billion in 2022 and is poised to grow from USD 10.22 Billion in 2023 to USD 43.96 Billion by 2031, at a CAGR of 20% during the forecast period (2024-2031).
The primary purpose of the global wireless power transmission market is to address the increasing demand for convenient and cable-free charging solutions. With the proliferation of electronic devices, ranging from smartphones and wearables to electric vehicles and IoT devices, the need for efficient and hassle-free charging methods has become crucial. Several key factors are driving the growth of the wireless power transmission market. The increasing adoption of smartphones and other portable electronic devices has created a strong demand for wireless charging solutions. Consumers are seeking more convenient and user-friendly ways to charge their devices, driving the market's expansion. The wireless power transmission market faces several challenges. One of the primary challenges is achieving higher power transfer efficiency. Efficiency plays a crucial role in ensuring effective energy transfer and minimizing energy losses during wireless charging.
The wireless power transmission market presents significant opportunities for innovation and growth. As technological advancements continue to enhance power transfer efficiency, opportunities emerge for wireless charging solutions in emerging industries such as electric vehicles, medical devices, and industrial automation. The global wireless power transmission market serves the purpose of providing convenient and cable-free charging solutions for a wide range of electronic devices. The market is driven by the increasing adoption of portable devices, the growth of IoT applications, and the need for efficient charging methods. However, challenges such as limited range and efficiency, compatibility issues, and the lack of universal standards need to be addressed.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Near field technology
Fastest Growth
Near field technology
Growth Rate
20% CAGR
Global Wireless Power Transmission Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
Global Wireless Power Transmission Market Size By Technology 2022-2030 ($ Bn)
Global Wireless Power Transmission Market Size By Technology, 2022-2030 (%)
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Global Wireless Power Transmission Market Segmental Analysis
The global wireless power transmission market is segmented on the basis of technology, application, and region. In terms of technology, the market is segmented into near field technology, and far-field technology. Based on classification by application, the market is segmented into receiver, and transmitter. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Wireless Power Transmission Market Analysis by Technology
The near-field technology segment stands as the largest segment in the global wireless power transmission market. With the ever-increasing demand for convenient and hassle-free charging solutions, consumers have embraced wireless charging technologies, making near-field technology the go-to choice for various electronic devices. Its dominance in the market can be attributed to its compatibility with a wide range of consumer electronics, including smartphones, tablets, and wearables.
Near-field technology remains the largest segment, the fastest-growing segment in the global wireless power transmission market is far-field technology. Far-field technology, also referred to as long-range wireless power transmission, enables power transfer over longer distances, reaching several meters. This technology is gaining significant traction due to its potential for wirelessly charging multiple devices simultaneously and its application in powering electronic devices in a room or a designated area.
Global Wireless Power Transmission Market Analysis by Application
The receiver segment holds the title of the largest segment in the global wireless power transmission market. This prominence is attributed to the widespread adoption of wireless charging technology in consumer electronics. As consumers increasingly seek convenient and cable-free charging solutions, wireless charging receivers have become integral components in smartphones, smartwatches, earphones, and other portable devices.
The fastest-growing segment in the global wireless power transmission market is transmitters. Transmitters, also known as wireless power transmitters or charging pads, are devices that emit power wirelessly to compatible receivers. These transmitters use technologies such as magnetic induction or magnetic resonance to transfer power over short distances.
Global Wireless Power Transmission Market Size By Technology, 2022(%), 2023 (%)
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Global Wireless Power Transmission Market Regional Insights
North America currently stands as the dominating region in the global wireless power transmission market. The region's dominance can be attributed to several factors. North America has a strong presence of key market players, including technology giants and innovative startups, driving advancements in wireless power transmission technology. The region boasts a high level of consumer electronics penetration, with a large base of smartphone users and early adopters of emerging technologies. The increasing demand for wireless charging solutions, coupled with a tech-savvy population, has propelled the growth of the wireless power transmission market in North America.
Asia Pacific emerges as the fastest-growing region in the global wireless power transmission market. The region's rapid growth can be attributed to several key factors. Firstly, Asia Pacific houses a significant consumer electronics manufacturing base, with countries such as China, Japan, and South Korea being major contributors. The region's prominence in electronics manufacturing drives the demand for wireless charging solutions in smartphones, wearables, and other portable devices. Asia Pacific is witnessing significant investments in electric vehicle infrastructure, with countries like China and Japan leading the way. Wireless power transmission technologies hold immense potential for electric vehicle charging, creating substantial growth opportunities in the region. The increasing adoption of electric vehicles, coupled with supportive government initiatives and investments, contributes to the region's fast-paced growth.
Global Wireless Power Transmission Market Size By Geography, 2022-2030, 2024-2031
- Largest
- Fastest
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Global Wireless Power Transmission Market Dynamics
Global Wireless Power Transmission Market Drivers
Increasing Adoption of Electric Vehicles (EVs)
- The growing demand for electric vehicles acted as a major driver for the wireless power transmission market in 2022. As EVs gained popularity worldwide, the need for efficient and convenient charging solutions became evident. Wireless power transmission technology offers a promising solution for charging electric vehicles without the need for physical connectors or cables. For example, in 2022, BMW announced the integration of wireless charging technology for their electric vehicles, enabling customers to conveniently charge their vehicles by parking over a wireless charging pad.
Rise in Consumer Electronics with Wireless Charging Capabilities
- The increasing adoption of wireless charging in consumer electronics devices fueled the growth of the wireless power transmission market in 2022. Smartphones, smartwatches, earbuds, and other portable devices integrated with wireless charging capabilities became more prevalent. For instance, in 2022, Apple introduced the iPhone 13 lineup, all of which support MagSafe wireless charging, reinforcing the trend of wireless charging in popular consumer devices.
Global Wireless Power Transmission Market Restraints
Limited Range and Efficiency
- The limited range and efficiency of wireless power transmission technology acted as a restraint in 2022. Current wireless charging solutions often require devices to be placed in close proximity to charging pads or transmitters, resulting in limited charging range. Additionally, energy transfer efficiency can decrease with increasing distance between the transmitter and receiver. Overcoming these limitations remained a challenge for the market in 2022, with ongoing research and development efforts focused on improving range and efficiency.
Compatibility Issues
- Compatibility issues among different wireless charging standards and protocols remained a restraint in 2022. Various manufacturers adopted different wireless charging technologies and standards, resulting in fragmentation in the market. This fragmentation can create confusion among consumers and slow down the widespread adoption of wireless power transmission. Efforts to establish universal standards and improve interoperability continued to address this challenge.
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Global Wireless Power Transmission Market Competitive Landscape
The global wireless power transmission market is highly competitive and consists of several key players striving for market dominance. These companies are continuously innovating and developing new wireless charging technologies to gain a competitive edge. These companies are engaged in research and development activities, partnerships, mergers and acquisitions, and product innovations to gain a competitive edge. several other companies contributing to the competitive landscape, each with their own strengths and areas of expertise. Collaboration and partnerships among players in the ecosystem are also common, aimed at creating standardized solutions and driving market adoption. Overall, the competitive landscape of the global wireless power transmission market is vibrant, with companies striving to innovate and capture a significant share in this growing industry.
Top Player’s Company Profiles in Global Wireless Power Transmission Market
- Powermat Technologies Ltd. (Israel)
- Energous Corporation (US)
- WiTricity Corporation (US)
- Integrated Device Technology, Inc. (US)
- Sony Corporation (Japan)
- Toshiba Corporation (Japan)
- Panasonic Corporation (Japan)
- Texas Instruments Inc. (US)
- NXP Semiconductors N.V. (Netherlands)
- Powercast Corporation (US)
- Murata Manufacturing Co., Ltd. (Japan)
- LG Electronics Inc. (South Korea)
- Semtech Corporation (US)
- Rohm Co., Ltd. (Japan)
- Würth Elektronik GmbH & Co. KG (Germany)
- ZTE Corporation (China)
- Renesas Electronics Corporation (Japan)
Global Wireless Power Transmission Market Recent Developments
-
In March 2023, WiTricity Corporation and ABT e-Line announced to deliver aftermarket wireless EV charging in Europe. Wireless charging will be made available commercially starting in 2024 with the Volkswagen ID.4 model.
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In January 2023, Energous Corporation and Atmosic Technologies introduced a brand-new software version for their Wirelessly Powered Sensor Evaluation Kit that integrates Energous' FCC-approved 1W WattUp PowerBridge transmitter and energy-harvesting Bluetooth Low Energy SoC solutions from Atmosic.
Global Wireless Power Transmission Key Market Trends
- Integration of Wireless Charging in Public Spaces: A key trend in 2022 was the integration of wireless charging capabilities in public spaces. This trend aimed to provide convenient charging options for users on the go. For example, coffee shops, airports, and restaurants began incorporating wireless charging pads or transmitters into their infrastructure, enabling users to wirelessly charge their devices while enjoying their services.
- Advancements in Long-Range Wireless Power Transmission: In 2022, there were notable advancements in long-range wireless power transmission technologies. Researchers and companies focused on developing technologies that enable wireless power transfer over longer distances. These advancements held the potential to revolutionize industries such as electric vehicle charging, industrial automation, and healthcare, where the need for wireless power transmission over greater distances is critical.
Global Wireless Power Transmission Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global wireless power transmission market analysis, the increasing adoption of smartphones, wearables, electric vehicles, and IoT devices are the key growth drivers. It provides a seamless user experience by eliminating the hassle of dealing with tangled cords and limited charging ports. The market is driven by the need for convenience, flexibility, and the growing trend of cordless charging solutions. However, challenges such as limited range and efficiency, compatibility issues among different standards, and the need for standardized solutions still exist. Despite these challenges, the market presents significant opportunities for growth and innovation, especially in industries such as automotive, consumer electronics, healthcare, and industrial automation. The ongoing advancements in technology, coupled with increasing research and development activities, continue to drive the expansion of the wireless power transmission market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 8.52 Billion |
| Market size value in 2031 | USD 43.96 Billion |
| Growth Rate | 20% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Wireless Power Transmission Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Wireless Power Transmission Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Wireless Power Transmission Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Wireless Power Transmission Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Wireless Power Transmission Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Wireless Power Transmission Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Wireless Power Transmission Market Report Snapshots
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