The latest report by IMARC Group, titled “Wireless Power Transmission Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the wireless power transmission market analysis. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global wireless power transmission market size reached US$ 18.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 149.6 Billion by 2032, exhibiting a growth rate (CAGR) of 25.5% during 2024-2032.
Wireless Power Transmission Market Trends:
The global market is majorly driven by the increasing consumer demand for convenient and efficient charging solutions for electronic devices, such as smartphones, wearables, and laptops. The proliferation of wireless charging-compatible devices, coupled with the need for hassle-free, cable-free charging, significantly boosts market adoption. Additionally, advancements in technology, including improved efficiency, range, and safety of wireless power systems, are accelerating their integration into various sectors. The automotive industry, in particular, is witnessing substantial growth in the adoption of wireless charging for electric vehicles (EVs), driven by the desire for easier and faster charging solutions that enhance user convenience and promote the adoption of EVs.
Furthermore, the healthcare sector benefits from wireless power transmission for medical implants and wearable health monitoring devices, where it eliminates the need for invasive procedures to replace or recharge batteries. The industrial sector also sees increased utilization of wireless power for powering sensors, robots, and other equipment, enhancing operational flexibility and reducing downtime.
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Wireless Power Transmission Market Scope and Growth Analysis:
The market scope includes consumer electronics, automotive, healthcare, industrial, and emerging sectors such as renewable energy. In consumer electronics, wireless charging solutions for smartphones, wearables, and laptops are gaining widespread adoption, propelled by the increasing number of compatible devices and the desire for cable-free convenience. The automotive industry is a significant growth area, with wireless charging for electric vehicles (EVs) promising to revolutionize the user experience by enabling seamless and faster charging.
Market analysis reveals that advancements in technology, such as improved efficiency, range, and safety of wireless power systems, are key drivers of market expansion. In the healthcare sector, wireless power transmission is critical for medical implants and wearable health devices, enhancing patient comfort and reducing the need for invasive battery replacements. The industrial sector benefits from wireless power for sensors, robots, and other equipment, improving operational flexibility and reducing maintenance downtime. Environmental considerations, such as reducing electronic waste and promoting sustainable energy solutions, further fuel the market's growth. The continuous innovation and expanding applications of wireless power transmission technologies indicate a promising future, with significant opportunities for growth and development across diverse industries.
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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 (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
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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