Wireless Power Transmission Market Updates

Wireless Power Transmission Market size was valued at USD 10.22 Billion in 2023 and is poised to grow from USD 12.26 Billion in 2024 to USD 52.75 Billion by 2032, growing at a CAGR of 20% during the forecast period (2025-2032).

The competitive landscape of the global wireless power transmission market is defined by these leading companies, Qualcomm, WiTricity, and Samsung, who drive the research and commercialization in the technologies of WPT. Companies will focus on innovation, strategic alliances, and diversified product lines to include innovative applications for industrial, consumer electronics, and electric vehicle-related cutting-edge applications. The growing demand across industries ignites the heat of competition with all those players plunging into competition to meet this exponentially rising demand for wireless charging solutions.  'Qualcomm Inc. (US)', 'Samsung Electronics Co., Ltd. (South Korea)', 'Apple Inc. (US)', '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)'

Wireless power transfer (WPT) systems are increasingly required in tandem with growing electric vehicle demand. The electric vehicle ecosystem cannot be fully operationalized without the integration of wireless charging infrastructure because electric vehicles require efficient charging systems. The market is anticipated to expand due to the relatively practical and flexible charging method presented by WPT technology, mainly in regions such as Asia Pacific and North America that increasingly adopt electric vehicles.

Application of WPT in Consumer Electronics Integration: Consumer devices such as smartphones, tablets, and wearables are rapidly integrating wireless power transfer. Convenience and the need to get rid of cable clutter are the main drivers of the increasing demand for wireless charging solutions. As more consumer electronics adopt wireless charging standards, this trend is expected to continue, propelling market growth. 

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.