Wireless Power Transmission Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Wireless Power Transmission Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:

The global wireless power transmission market size reached US$ 14.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 66.9 Billion by 2028, exhibiting a growth rate (CAGR) of 29.2% during 2023-2028.

Wireless power transmission (WPT) refers to the technology of transferring electrical energy from a power source to a device without using interconnecting wires. It primarily uses microwaves, solar cells and magnetic resonance to transfer the energy through a set of transmitter and receiver coils. This technology is commonly used for recharging mobile phones, tablets, cars, drones, transportation equipment and solar-panel arrays in space. It offers enhanced reliability, mobility and convenience while eliminating the use of wires and batteries. Owing to this, it finds extensive applications across various industries, including consumer electronics, automotive, robotics, heating and ventilation and industrial engineering.

Rapid industrialization, along with the increasing demand for consumer electronics across the globe, is one of the key factors driving the growth of the market. There is widespread adoption of WPT technologies among consumers as an effective alternative to wired charging systems for smartphones, laptops, portable MP3 players and digital cameras. This, along with the increasing utilization of the technology for operating robots and drones, is also providing a boost to the market growth. The market is further driven by the rising need for effective charging systems. For instance, electric vehicles (EVs) equipped with in-motion (dynamic) and inductive WPT charging systems can function on smaller batteries, thereby minimizing the overall cost of operation and carbon emissions into the environment. Other factors, such as the increasing requirement for efficient and reliable power distribution systems and the adoption of WPT-based smart grids, which have enhanced the utilization of WPT systems in smart meters, appliances and other equipment, are projected to drive the market further. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global wireless power transmission market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, technology, implementation, receiver application and end-use industry.

Breakup by Type:

Devices With Battery
Devices Without Battery

Breakup by Technology:

Near-Field Technology

Inductive
Magnetic Resonance
Capacitive Coupling/Conductive

Far-Field Technology

Microwave/RF
Laser/Infrared
 
Breakup by Implementation:

Aftermarket
Integrated
 
Breakup by Receiver Application:

Smartphones
Tablets
Wearable Electronics
Notebooks
Electric Vehicles
Robots
Others
 
Breakup by End-Use Industry:

Consumer Electronics
Automotive
Healthcare
Defense
Power Generation
Others
 
Breakup by Region:

North America

United States
Canada

Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Energous Corporation, Humavox Ltd., Integrated Device Technology Inc. (Renesas Electronics Corporation), Leggett & Platt, Murata Manufacturing Co. Ltd., NuCurrent Inc., MothersonOssia, Qualcomm Incorporated, Samsung Electronics, TDK Corporation, Texas Instruments, Wi-Charge Ltd., WiTricity Corporation, etc.

Key Questions Answered in This Report

1. What was the size of the global wireless power transmission market in 2022?
2. What is the expected growth rate of the global wireless power transmission market during 2023-2028?
3. What has been the impact of COVID-19 on the global wireless power transmission market?
4. What are the key factors driving the global wireless power transmission market?
5. What is the breakup of the global wireless power transmission market based on the type?
6. What is the breakup of the global wireless power transmission market based on the technology?
7. What is the breakup of the global wireless power transmission market based on implementation?
8. What is the breakup of the global wireless power transmission market based on the receiver application?
9. What is the breakup of the global wireless power transmission market based on the end-use industry?
10. What are the key regions in the global wireless power transmission market?
11. Who are the key players/companies in the global wireless power transmission market?