The latest report published by IMARC Group, titled “Wireless Power Transmission Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on wireless power transmission market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

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) represents a revolutionary technology that enables the transfer of electrical energy without physical connectors or wires. This technology primarily operates through two mechanisms: inductive coupling and resonant inductive coupling, where magnetic fields are used to transfer power between two objects. One of the most common forms of WPT is inductive charging, utilized in consumer electronics such as smartphones and electric toothbrushes.

Another emerging type is resonant wireless power transfer, which allows for greater distances between the transmitter and receiver, making it suitable for larger applications such as electric vehicle charging. WPT technologies offer numerous advantages, such as increased convenience by eliminating the need for cable connections, enhanced safety by reducing the risk of electric shocks and wire degradation, and greater device durability due to fewer physical connections. The versatility of WPT extends to various sectors, including consumer electronics, automotive, industrial, and healthcare, underlining its adaptability and potential for widespread usage. The technology is continually evolving, with ongoing research focusing on improving efficiency, transmission distance, and power capacity, aiming to broaden its applicability in more demanding and diverse environments.

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Market Trends:

The global wireless power transmission market is witnessing significant growth, driven by the evolving demands of modern technology and sustainability goals. Additionally, the escalating adoption of wireless technology and IoT devices, which necessitates efficient and convenient power solutions, is positively influencing the market. WPT caters to this need by offering seamless charging solutions, thereby enhancing user experience and device functionality. The automotive sector, especially in the realm of electric vehicles (EVs), is another major contributor to market growth. The integration of WPT in EV charging infrastructure simplifies the charging process and is seen as a key enabler for the wider adoption of EVs, thus supporting environmental sustainability goals. Along with this, the proliferation of consumer electronics, particularly smartphones and wearable devices, is significantly supporting the market. The convenience of wireless charging for these devices is leading to a substantial increase in demand for WPT solutions.

In addition, advancements in technology leading to higher efficiency and longer transmission ranges are making WPT more viable and attractive for various applications. Therefore, this is significantly supporting the market. The healthcare sector is also emerging as a significant market, with wireless power being used in medical implants and devices, offering the advantage of lesser invasive procedures and improved patient comfort. Moreover, substantial investments in research and development by key market players are leading to innovative WPT solutions, catering to specific industry needs and propelling the market. Apart from this, government initiatives and regulations favoring the adoption of green and sustainable technologies are also contributing to the market. Furthermore, the growing awareness and demand for energy-efficient and wire-free charging solutions in public spaces, workplaces, and homes are creating a positive market outlook.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • 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

Wireless Power Transmission Market Segmentation:

Our report has categorized the market based on region, 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)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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