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A recent report published by Infinium Global Research on wireless power transmission market provides in-depth analysis of segments and sub-segments in the global as well as regional wireless power transmission market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional wireless power transmission market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global wireless power transmission market.
Wireless Power Transfer (WPT) is a technology that enables the transmission of electrical power without the use of physical wires. This innovative approach relies on the use of time-varying electric, magnetic, or electromagnetic fields to transfer power. In wireless power transmission systems, a power source sends electromagnetic energy to an electric load without the use of traditional conductive wires. The primary methods employed in wireless power transmission include microwaves, solar cells, and resonance. Microwaves are harnessed within electrical devices to transmit electromagnetic radiation from a source to a receiver, effectively enabling the wireless transfer of power. This eliminates the necessity for physical connections, making it particularly advantageous for various applications, including military uses. In military contexts, wireless power transmission plays a crucial role in applications such as robotic systems, wireless charging technology to assist soldiers, and sensor deployment in submarines. This technology revolutionizes power distribution by offering efficient and wire-free solutions.
The growth of the wireless power transmission market is primarily driven by the increasing demand for battery-powered devices and the need for efficient charging systems. Additionally, the emergence of new applications for wireless power transmission, such as solar-power satellites, is expected to further stimulate global market growth. Moreover, the continuously improving efficiency of power transmission systems is anticipated to create favorable conditions for the market in the near future. Notably, popular smartphones like Samsung Galaxy, Google Nexus, and Motorola Droid are equipped with wireless charging capabilities, contributing to the broader adoption of inductive wireless power transmission in the smartphone market. In the automotive sector, companies like Honda, Nissan, and Toyota Motors are increasingly focusing on electrically charged vehicles, opening up significant opportunities for wireless power transmission solutions over the forecast period. However, challenges exist, including the interference of microwaves with existing communication systems and the rising costs associated with wireless power technology, which are hindering the market's growth. Lockdown measures led to the suspension of semiconductor and electronics production facilities due to a shortage of available workforce worldwide. Travel bans and facility closures imposed by governments kept workers away from factories, which disrupted market growth. Additionally, the market suffered from raw material shortages and decreased demand during the pandemic, leading to constraints in its growth prospects within the forecast period.
The global wireless power transmission market is divided into several regions, including North America, Europe, Asia Pacific, and the Middle East & Africa. Currently, North America holds the largest share of the global wireless power transmission market. Notably, Mexico is emerging as a burgeoning manufacturing hub, driven by cost-effectiveness and increasing demand in North American countries like the United States and Canada. However, it is expected that the Asia Pacific region will exert significant dominance and drive market expansion during the forecast period. This is particularly attributed to the flourishing automobile sector in countries like China and India, which is poised to fuel market growth in the coming years.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 35.02 Billion |
| Market Size by 2030 | USD 186.76 Billion |
| Growth Rate from 2023 to 2030 | CAGR of 20.39% |
| Largest Market | North America |
| No. of Pages | 255 |
| Market Drivers |
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| Market Segmentation | By Range, By Type, and By End User Industries |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global wireless power transmission market covers segments such as range, type, and end user industries. On the basis of range, the sub-markets include near field, and far field. On the basis of type, the sub-markets include microwave power transmission, and inductive coupling power transmission and resonance. On the basis of end user industries, the sub-markets include consumer electronics, healthcare, automotive, industrial, and others (drones, solar power satellite).
The report provides profiles of the companies in the market such as Koninklijke Philips N.V., PowerbyProxi (acquired by Apple Inc.), SAMSUNG, Texas Instruments Incorporated, Integrated Device Technology, Inc.(acquired by Renesas), TDK CORPORATION, Powermat, WiTricity Corporation, PLUGLESS POWER INC., and Salcomp Plc.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the wireless power transmission market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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