Wireless Power Transmission Market: Analyzing the Industry’s Growth and Challenges

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Wireless Power Transmission:

Without the use of towers and transmission lines, a wireless transmission moves electricity from the power plant to the consumer. Induction coils are used in the Wireless Power Transfer (WPT) process to transmit electrical energy from a power source to an electrical load across an air gap.

Wireless Power Transmission (WPT) market size reached USD 6.53 Billion in 2021 and is expected to register a revenue CAGR of 21.1% during the forecast period, according to latest analysis by Emergen Research. Rising adoption of wireless power transmission in consumer electronics is the key factor driving market revenue growth.

Wireless Power Transmission (WPT) market will entail contactless charging of portable and mobile devices, particularly in consumer electronics. Rising demand for consumer electronics especially smartphones, tablets, and wearable devices across the globe creates high demand for wireless power transmission technology. Majority of consumer electronics that need to be charged or constantly powered are connected to wall by cords.

In addition, wireless power technology enables customers to charge and power consumer electrical gadgets while maintaining an aesthetic and cable-free setting. Rising adoption of WPT technology in electronics devices prompts manufacturers to introduce advanced technologies in the market. For instance, in June 2022, Panthronics AG, which is an Austria-based semiconductor company announced to launch fully integrated NFC wireless charging listener device PTX30W. It receives power wirelessly, eliminating the need for a microprocessor in listener device. It also offers significant space savings and enhanced design freedom to smartwatches, hearing aids, fitness trackers, smart rings, and many electronic devices.

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Report Scope:

Forecast Period : 2022-2030

CAGR: 21.1%

Base Year: 2022

Number of Pages: 250

Prominent players operating in the industry have undertaken collaborations and agreements to gain a competitive edge and gain a robust footing in the industry. Some prominent players profiled in the report are:

Qualcomm Inc., Texas Instruments Inc., WiTricity Corporation, NuCurrent Inc. Samsung Electronics Co., Ltd., TDK Corporation, NXP Semiconductors N.V., Powermat Technologies Ltd., Semtech Corporation, WiTricity Corporation, Energous Corporation, and Analog Devices Inc.

Key Highlights from the Report

  • The far-field technology segment is expected to increase at a steady rate over the forecast period due to rising initiatives taken by government to promote Far-field technology. In November 2021, the U.S. Federal Communication Commission (FCC) approved Energous Corporation’s unlimited distance Over-The-Air (OTA) wireless charging. The U.S. certification will enable extension of wireless power transfer solutions at any distance, particularly for internet of things devices.
  • the industrial charging solution segment is expected to increase at a steady rate over the forecast period due to rising adoption of WPT technologies in industrial charging solutions. WAP technology is highly useful in various industrial applications such as factory automation, handheld terminals, drones, and others.
  • The Asia Pacific market accounted for largest revenue share in the global wireless power transmission market in 2021 due to rising adoption of electronics devices in countries across the region, especially in China, Japan, and India. According to China Academy of Information and Communications Technology (CAICT), total shipment of 5G mobile phones in China was 266 million units in 2021, which creates high demand for WPT solutions in this country. In addition, rising adoption of WPT solutions in electric vehicles in the region is expected to support revenue growth of the market.

To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/wireless-power-transmission-market

Emergen Research has segmented the global wireless power transmission market based on technology, transmitter application, implementation, end-use, and region:

  • Technology Outlook (Revenue, USD Billion; 2019-2030)
    • Far-Field Technology
      1. Microwave/RF
      2. Laser/Infrared
    • Near-Field Technology
      1. Inductive
      2. Capacitive Coupling
      3. Magnetic Resonance
  • Transmitter Application Outlook (Revenue, USD Billion; 2019-2030)
    • Standalone Chargers
    • Electric Vehicle Charging
    • Industrial Charging Solutions
    • Others
  • Implementation Outlook (Revenue, USD Billion; 2019-2030)
    • Integrated
    • Aftermarket
  • End-Use Outlook (Revenue, USD Billion; 2019-2030)
    • Consumer Electronics
      1. Smartphones
      2. Tablets
      3. Wearable Electronics
      4. Notebooks
      5. Automotive
    • Industrial
    • Defense
    • Healthcare
    • Others

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