Global Wireless Power Transmission Market Segmentation, By Technology (Near-Field Technology, Far-Field Technology), Implementation (Integrated, Aftermarket), Receiver Application (Smartphones, Tablets, Wearable Electronics), Transmitter Application (Electric Vehicle Charging, Furniture, Industrial) - Industry Trends and Forecast to 2031.
Wireless Power Transmission Market Analysis
Wireless power transmission has gained high relevance owing to its advantages such as mobility, convenience and enhanced reliability while eliminating the use of batteries and wires. It has found extensive applications across various industries, including automotive, heating and ventilation, consumer electronics, automotive, and industrial engineering.
Wireless Power Transmission Market Size
Global wireless power transmission market size was valued at USD 52.12 billion in 2023 and is projected to reach USD 252.44 billion by 2031, with a CAGR of 21.80% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
|
Attributes
|
Wireless Power Transmission Key Market Insights
|
|
Segmentation
|
|
|
Countries Covered
|
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
|
|
Key Market Players
|
SAMSUNG (South Korea), Wi-Charge. (Israel), Energous Corporation (US), Semtech (US), TOSHIBA CORPORATION (Japan), Panasonic Corporation (Japan), ROHM CO., LTD. (Japan), Murata Manufacturing Co (Japan), Koninklijke Philips N.V. (Netherlands), uBeam (US), HUMAVOX LTD (Israel), Powermat (India), Powercast Corp. (US), Fulton Innovation LLC (US), TDK Corporation (Japan), WiTricity Corporation (US), Integrated Device Technology, Inc. (US), Texas Instruments Incorporated (US), and Ossia Inc. (US), among others
|
|
Market Opportunities
|
|
Wireless Power Transmission Market Definition
Wireless power transmission is the process of transmitting the electrical energy from the power source to the load without the presence of wires and batteries. Wireless power transmission is a technologically advanced system or transmitting electromagnetic energy into electrical signals. Inductive coupling is the most common approach to wirelessly transfer the power as it is the safest approach.
Wireless Power Transmission Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Use in Various Industries
The increase in the use of power transmission devices in various industries, including industrial, healthcare, automotive, and defense applications acts as one of the major factors driving the growth of wireless power transmission market. The rapid growth of consumer electronics also drives the market further due to high use of charging devices fir mobiles, tablets, and laptops.
- Internet of Things (IoT)
The rise in the applications of the Internet of Things (IoT) including smart homes, smart cities, Machine-to-Machine (M2M) communications, and Industrial IoT (IIoT), among various others accelerate the market. The rise in adoption of home and building automation systems drives the market further.
- Timely Investment
The surge in need for long term energy safety that is timely investment to supply energy further influence the market. It offers economic development and sustainable environment across the globe. The rise in the of telecommunication sector assist in the expansion of the market.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the wireless power transmission market.
Opportunities
Furthermore, adoption of wireless power transmission for automotive and electric vehicle charging applications extend profitable opportunities to the market players in the forecast period of 2024 to 2031. Also, increase in expenditure to undertake research and development proficiencies will further expand the market.
Restraints/Challenges
On the other hand, high cost associated with the wireless power transmission technology-based devices and impact of uncertified and non–standardized products are expected to obstruct market growth. Also, lack of common standards at present is projected to challenge the wireless power transmission market in the forecast period of 2024-2031.
This wireless power transmission market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on wireless power transmission market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Wireless Power Transmission Market
The COVID-19 had a negative impact on the wireless power transmission market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand wireless power transmission technology. The supply chain got hampered during the pandemic along with delay logistics activities. However, the wireless power transmission market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.
Wireless Power Transmission Market Scope
The wireless power transmission market is segmented on the basis of technology, implementation, receiver application and transmitter application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Technology
- Near-Field Technology
- Far-Field Technology
Implementation
- Integrated
- Aftermarket
Receiver Application
- Smartphones
- Tablets
- Wearable Electronics
Transmitter Application
- Electric Vehicle Charging
- Furniture
- Industrial
Wireless Power Transmission Market Regional Analysis
The wireless power transmission market is analysed and market size insights and trends are provided by country, technology, implementation, receiver application and transmitter application as referred above.
The countries covered in the wireless power transmission market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the wireless power transmission market because of the low cost associated with the installation of a wireless power transmitter and receiver and high investments within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2024 to 2031 because of the increasing expenditure for research and development proficiencies and rising favourable norms and incentives from various governments to improve the renewable energy blend within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Wireless Power Transmission Market Share
The wireless power transmission market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to wireless power transmission market.
Wireless Power Transmission Market Leaders Operating in the Market Are:
- SAMSUNG (South Korea)
- Wi-Charge. (Israel)
- Energous Corporation (US)
- Semtech (US)
- TOSHIBA CORPORATION (Japan)
- Panasonic Corporation (Japan)
- ROHM CO., LTD. (Japan)
- Murata Manufacturing Co (Japan)
- Koninklijke Philips N.V. (Netherlands)
- uBeam (US)
- HUMAVOX LTD (Israel)
- Powermat (India)
- Powercast Corp. (US)
- Fulton Innovation LLC (US)
- TDK Corporation (Japan)
- WiTricity Corporation (US)
- Integrated Device Technology, Inc. (US)
- Texas Instruments Incorporated (US)
- Ossia Inc. (US)
SKU-