The Global Wireless Power Transmission Market was estimated to be US$ 7.26 Billion in 2022 and is expected to grow at a CAGR of 19.9% between 2023 to 2032.
Wireless power transmission, also known as wireless charging or inductive power transfer, is a technology that enables the transmission of electrical power from a power source to an electrical load without the use of physical cables or wires. The technology works on the principle of electromagnetic induction, which involves the transfer of energy through a magnetic field between two objects.
Wireless power transmission typically involves a power source, which could be a charging pad or a transmitter, and an electrical load, which could be a mobile device, an electric vehicle, or an electronic device. The power source generates an oscillating magnetic field, which induces an electric current in a receiver coil located in the electrical load. This electric current is then used to charge the battery or power the device.
Wireless power transmission offers a number of benefits, including convenience, ease of use, and elimination of cords and cables, which makes it a popular choice for consumer electronics, automotive, and industrial applications.
The global wireless power transmission market is being driven by a number of factors, including the growing need for effective charging solutions for electric vehicles, the growing need for effective charging solutions for electric vehicles, and the adoption of wireless charging in healthcare, aerospace, and defense sectors.
Wireless charging provides convenience, ease of use, and eliminates the need for cords and cables, making it a popular choice for consumers and industries alike. In the healthcare, aerospace, and defense sectors, wireless charging offers a safe and reliable way to charge electronic devices critical to these industries.
The market is also being driven by the development of long-range wireless power transmission technologies, the rising awareness about energy conservation, and sustainable solutions, and the growing demand for wireless charging in emerging economies.
Based on technology, the inductive coupling segment is currently the largest segment in the wireless power transmission market. Inductive coupling is a method of wireless power transmission that uses an electromagnetic field to transfer energy between two coils that are in close proximity to each other.
The popularity of inductive coupling is due to its simple design, ease of implementation, and relatively low cost. It is commonly used for wireless charging of devices such as smartphones, wearables, and electric toothbrushes. The technology is also widely adopted in the automotive industry for wireless charging of electric vehicles.
Although magnetic resonance and radio frequency technologies have advantages in terms of longer-range and higher power transfer, they are relatively complex, expensive, and not as widely adopted as inductive coupling. Other wireless power transmission technologies such as laser-based and ultrasound-based methods are still in the experimental stage and are not yet widely used.
Overall, the inductive coupling segment is expected to continue to dominate the wireless power transmission market due to its simplicity, reliability, and cost-effectiveness for a wide range of applications.
Geographically, the global wireless power transmission market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America.
Following are some of the major trends in these regions –
North America: North America is one of the leading regions in the wireless power transmission market, driven by the increasing adoption of electric vehicles, the growth of the smartphone and wearable market, and the presence of key players in the region. The United States is the largest market in the region, followed by Canada and Mexico.
Europe: Europe is also a significant market for wireless power transmission, driven by the increasing adoption of electric vehicles and the growing demand for wireless charging solutions in consumer electronics. Germany, France, and the UK are the leading markets in the region.
Asia-Pacific: Asia-Pacific is the largest market for wireless power transmission, driven by the presence of major smartphone and consumer electronics manufacturers, the increasing adoption of electric vehicles, and the growth of the healthcare industry. China, Japan, South Korea, and India are the leading markets in the region.
Middle East and Africa: The Middle East and Africa region is a growing market for wireless power transmission, driven by the increasing adoption of wireless charging in the healthcare and aerospace industries. The United Arab Emirates, Saudi Arabia, and South Africa are the leading markets in the region.
South America: South America is also a growing market for wireless power transmission, driven by the increasing adoption of wireless charging in the automotive and consumer electronics industries. Brazil, Argentina, and Chile are the leading markets in the region.
Companies operating in the global wireless power transmission market have adopted various growth strategies to expand their market share and increase their revenue.
Some of the major growth strategies adopted by these companies include:
Product Innovation: Companies are investing heavily in R&D to develop innovative wireless charging solutions that are faster, more efficient, and more reliable than existing technologies. For example, Energous Corporation has developed a WattUp wireless charging system that can charge multiple devices simultaneously, while also providing real-time charging feedback to users.
Strategic Partnerships: Companies are forming strategic partnerships and collaborations with other companies to expand their market reach and enhance their product offerings. For example, Qualcomm has partnered with Samsung and other smartphone manufacturers to integrate its wireless charging technology into their devices.
Merger and Acquisition: Companies are acquiring other companies to expand their market share and increase their product portfolio. For example, WiTricity acquired Qualcomm's wireless charging technology division, which helped WiTricity expand its product portfolio and strengthen its position in the market.
Expansion: Companies are expanding their operations in new geographic regions to increase their market share and reach new customers. For example, Powermat Technologies expanded its operations to China, which helped the company tap into the growing demand for wireless charging solutions in the region.
ConvenientPower HK Limited, Energous Corporation, Humavox Ltd., Integrated Device Technology, Inc., Leggett & Platt, Incorporated, Mojo Mobility, Inc., Ossia Inc., Powermat Technologies Ltd., Qualcomm Technologies, Inc., Samsung Electronics Co., Ltd., TDK Corporation, Texas Instruments Incorporated, Toshiba Corporation, Wi-Charge Ltd., Witricity Corporation and many more.
By Technology:
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By Region
The wireless power transmission market was estimated to be US$ 7.26 Billion in 2022.
The wireless power transmission market is expected grow at a CAGR of 19.9% between 2023 to 2032.
The wireless power transmission market is being driven by a number of factors, including the increasing demand for smartphones, wearables, and other consumer electronics, the growing need for effective charging solutions for electric vehicles, and the adoption of wireless charging in healthcare, aerospace, and defense sectors.
The inductive coupling is currently the largest technology segment in the wireless power transmission market. The popularity of inductive coupling is due to its simple design, ease of implementation, and relatively low cost.
North America is one of the leading regions in the wireless power transmission market, driven by the increasing adoption of electric vehicles and the growth of the smartphone and wearable market.
ConvenientPower HK Limited, Energous Corporation, Humavox Ltd., Integrated Device Technology, Inc., Leggett & Platt, Incorporated, Mojo Mobility, Inc., Ossia Inc., Powermat Technologies Ltd., Qualcomm Technologies, Inc., Samsung Electronics Co., Ltd., TDK Corporation, Texas Instruments Incorporated, Toshiba Corporation, Wi-Charge Ltd. and Witricity Corporation are the major players in this market.
Wireless power transmission are largely used in the Gateways, Tranceivers, Receiver, Transmitter and others.
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