Wireless Power Transmission Market By Transmitter Application (Standalone Charger, Industrial charging solution, Electric Vehicle Charging, and Other), By Reciever Application (Smartphones, Tablets, and Wearable Electronics), By End-User (Consumer Electronics, Automotive, Industrial, Healthcare, Defence, and Other), By Technology, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

Wireless Power Transmission Market size is expected to be worth around USD 99.4 Bn by 2032 from USD 11.2 Bn in 2022, growing at a CAGR of 25.1% during the forecast period from 2023 to 2032.

Wireless Power Transmission Market is used to transmit power over short and long distances at a rapid pace. Compared to conventional energy transfer methods, wireless power transmission devices offer the advantages of less energy losses and convenience. Wireless Power Transmission Market products like wireless smartphones and car chargers are preferred by consumers globally. As the most recent power transmission technology replaces the out-of-date wired tools, the market for wireless transmission is seeing a boost.

The nations like the United States make significant investments in the adoption of Wireless Power Transmission Market technology to take full advantage of the power system networks and cut down on the cost of installing overhead cables.

Driving factors

Convenience Offered And Consumer Preference For Wireless Connectivity To Drive The Growth Of The Market.

The adoption of wireless connectivity technologies has seen tremendous growth in recent years. Due to its complexity, a maximum number of users focus on getting rid of wired connectivity. These days, consumers expect wireless services on every device, such as smartphones, tablets, etc. Wireless charging technology is highly deployed as it provides freedom of mobility and quick access to the device and is time-consuming.

The go-wireless tendency mainly drives the growth of the market. Wireless charging Devices, which are user-friendly, cost-effective, and have a great life span, are provided by many companies. These are the factors to drive the growth of the market globally.

Restraining Factors

Rise In The Demand For The Cheap, Un-Certified, And Non-Standardized Products To Restraint The Growth Of The Market.

Due to the successful implementation of Wireless Power Transmission Market devices in electronic products, it has become crucially important nowadays. However, many major key players, including start-up companies with creative ideas, are entering the market by offering the latest technology to fulfill this demand, due to which competitive pressure is increased among the suppliers of wireless power transmission products.

Some manufacturing players launch uncertified and non-standardized products at cheaper rates than standardized and certified ones. However, due to the cheap quality of the non-standardize products, there is no guarantee, and the products' safety is the main concern. Hence, the introduction of non-standardized and uncertified products restrained the growth of the global market.

Transmitter Application Analysis

The Electric Vehicle Charging Segment Dominated the Market During the Forecasted Period.

Based on transmitter applications, the global market for Wireless Power Transmission Market is segmented into EV charging, standalone chargers, industrial charging solutions, and other transmitter applications. Due to the growing popularity and demand for electric vehicles worldwide, the electric vehicle charging segment of the wireless power transmission market is anticipated to grow significantly during the forecast period.

Demand for electric vehicles is expected to rise due to the strict government regulations aiming to lower fuel emissions. An electric vehicle can charge automatically without cables with the help of wireless charging. Advanced technologies used for Wireless Power Transmission Market for electric vehicles are currently being tested and introduced by several automotive industries. An investment of 25 million dollars was made by Siemens purchased stakes in the U.S.-based wireless charging technology startup WiTricity.

These two companies will collaborate to drive innovation in the expanding wireless EV charging market. These two companies fill the gaps in the global standardization of light-duty commercial vehicles and wireless charging for electric passengers.

Receiver Application Analysis

The Smart Phone Segment Dominated The Market in 2022.

The smartphone segment dominates the growth of the Wireless Power Transmission Market globally. Smartphones with features like wireless charging are Motorola Droid phones, Google Nexus Phones, and Galaxy Series. The increase in the number of applications of wireless charging technology in the industrial and healthcare sector is expected to help the companies expand their future product portfolio.

The healthcare sector is projected to provide a rise in the demand for the product, which will eventually drive the growth and opportunities of the global market by implementing the technology in implanted medical devices, medical scanning devices, and hearing aids. Innovations are required to overcome the range barrier in magnetic, inductive, RF technology, and Resonance. This will likely improve the range of products and the rise in the development of technologies for the automotive industry in the forecasted period. These factors are expected to boost the growth of the wireless power transmission market during the forecasted period.

End-User Analysis

The Consumer Electronic Segment Dominates The Growth Of The Market.

Based on the end-user segment, the market is classified into Consumer Electronics, Automotive, Industrial, Healthcare, Defence, and Others. The consumer electronic segment dominates the market's growth and holds the largest market share globally, due to the adoption of Wireless Power Transmission Market in smartphones, wearable devices, and tablets. Devices that are wireless charging enabled are Introduced by many companies in the market that are user-friendly and have a great life span.

The automotive segment is anticipated to register the highest CAGR during the forecasted period due to the rising wireless electric vehicle charging technology trend. The increase in the demand for electric vehicles globally due to the growing awareness of carbon emissions is expected to drive the growth of the wireless power transmission market.

Technology Analysis

The Near-Field Segment Dominates The Growth Of The Market.

Based on the technology segment, the near-field segment dominates the growth of the market globally due to the adoption of the technologies, especially in smartphones, tablets, and other wearable devices. The near field technologies are mainly used in various devices due to the rise in the adoption of consumer devices globally, which eventually drives the market's growth and creates demand for near-field technologies.

Key Market Segments

Based on Transmitter Application

• Standalone Charger
• Industrial charging solution
• Electric Vehicle Charging
• Other Transmitter Applications

Based on Receiver Application

• Smartphones
• Tablets
• Wearable Electronics

Based on End-User

• Consumer Electronics
• Automotive
• Industrial
• Healthcare
• Defence
• Other End-Users

Based on Technology

• Near Field Technology
• Far Field Technology

Growth Opportunity

The Rising Utilization Of The Quantum, Micro, And Nano Technologies In Wireless Power Transmission.

The increase in the adoption of electric vehicles globally drives the market. Along with electric vehicles, the rising preference for contactless payment methods drives the market's growth. The growth is the growth of the rising utilization of quantum, micro, and nano technologies in Wireless Power Transmission Market. The rising infrastructural development projects and the adoption of wireless power transmission-based grids across the automobile industry are the main drivers influencing the growth of the market globally. These are the major trend going on in the market globally.

Latest Trends

Wireless Power Transmission In Robots Is The Great Opportunity for the Market Growth.

Wireless power transmission technology has been used to research and develop mini and micro-robots that can transfer power. Through several research programs, wireless-powered drones are in action. For instance, Imperial College of London has demonstrated a wireless-powered drone that can operate above five inches of the transmitter. To transmit power, a high-frequency transmitting coil is used, which can be received by the receiver and placed in the robots.

Regional Analysis

The  Apac Region Dominates The Growth Of The Market And Holds The Largest Market Share In Terms Of Revenue.

The APAC region dominates the growth of the market growth globally and is expected to dominate the growth of the market for the forecasted period. The growth of the market is seen due to the rise in the automotive and electronic industries of countries with great economies, such as Indonesia, China, South Korea, Malaysia, and Japan. The rise sees the growth of the market in the disposable income of the middle-class people of these countries.

After APAC, Europe holds the second position in the global wireless power transmission market. Europe is all set to see the growth of the market as there is an increase in the growth of the market of electric vehicles, smartphones, and hybrid vehicles, which can drive the growth of the market. After Europe, North America holds the third position in the global market, as there is a rise in the demand for Wireless Power Transmission Market devices in the healthcare and defense sector, and this will eventually drive the growth of the market globally.

Key Regions and Countries

North America

• US
• Canada
• Mexico

Western Europe

• Germany
• France
• The UK
• Spain
• Italy
• Portugal
• Ireland
• Austria
• Switzerland
• Benelux
• Nordic
• Rest of Western Europe

Eastern Europe

• Russia
• Poland
• The Czech Republic
• Greece
• Rest of Eastern Europe

APAC

• China
• Japan
• South Korea
• India
• Australia & New Zealand
• Indonesia
• Malaysia
• Philippines
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Colombia
• Chile
• Argentina
• Costa Rica
• Rest of Latin America

Middle East & Africa

• Algeria
• Egypt
• Israel
• Kuwait
• Nigeria
• Saudi Arabia
• South Africa
• Turkey
• United Arab Emirates
• Rest of MEA

Key Players Analysis

The most prominent player in the semiconductor companies is Texas Instruments, Inc., which is ranked first in the supply of components for wireless power transmission technology. The companies have a wide range of products portfolio used in Wireless Power Transmission Market technologies, including receivers ICs, and modules ranging from high power requirements to low power requirements. The companies in this industry also focus on different applications such as smartphones, wearable, automotive, industrial, etc. Thus Texas Instrument, Inc. is expected to dominate the market share and remain a key ICs supplier.

Top Key Players in Wireless Power Transmission Market

• Analog Devices Inc.
• Energous Corporation
• Koninklijke Philips N.V.
• NXP Semiconductors N.V.
• Powermat Technologies Ltd.
• Renesas Electronics Corporation
• Samsung Electronics Co. Ltd.
• Semtech Corporation
• TDK Corporation
• WiTricity Corporation
• Other Key Players

Recent Development

• On September 2021, NuCurrent and American Technology Components Inc. collaborated to combine NuCurrent’s wireless charging technology, which is excellent, with the ATC’s quality and knowledge in the electronic subsystems.
• In February 2019, an American semiconductor manufacturing company, Qualcomm, launched the Qualcomm Quick ChargeTM wireless power transmission technology.

Report Scope