IMARC Group, a leading market research company, has recently releases report titled,”Wireless Power Transmission Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, include wireless power transmission market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Wireless Power Transmission Market?
• Market Size in 2022: US$ 14.2 Billion
• Market Forecast in 2028: US$ 66.9 Billion
• Growth rate (2023 to 2028): CAGR of 29.2%
• Base Year of the Analysis: 2022
• Forecast Period: 2023-2028
What is Wireless Power Transmission Market?
Wireless power transmission refers to a technology that enables the transfer of electrical energy from a power source to an electrical load without the need for physical wired connections. It uses microwaves, solar cells, and magnetic resonance to transfer energy through a set of transmitter and receiver coils. It works by converting electrical energy into an electromagnetic field and transmitting it through space to a receiver that converts it back into electrical energy. It offers enhanced convenience, reliability, and mobility while eliminating the need for physical connection. As a result, it finds applications in satellite communication systems, telemetry equipment, and radio frequency identification (RFID) tags for data transfer. Additionally, it has extensive applications across various fields, including consumer electronics, automotive, robotics, heating and ventilation, and industrial engineering.
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What are the growth prospects and trends in the Wireless Power Transmission industry?
The increasing demand for consumer electronics is driving the global market. Moreover, the widespread adoption of wireless power transmission-based smart grids, and the rising infrastructural development projects are catalyzing the growth of the market. Apart from this, several major companies are heavily investing in developing new materials, designs, and manufacturing techniques, thus providing a boost to the demand. Besides, the wide utilization of wireless power transmission in the healthcare sector, as it eliminates the need for invasive procedures to replace batteries, is creating a positive market outlook. Other factors, such as the increasing requirement for efficient and reliable power distribution systems, growing demand for green energy, the adoption of WPT-based smart grids, and rising government initiatives to use renewable energy and energy-efficient solutions, are projected to propel the market further.
What are the segments of Wireless Power Transmission market?
The report has segmented the market into the following categories:
Breakup by Type:
• Devices With Battery
• Devices Without Battery
Breakup by Technology:
• Near-Field Technology
• Magnetic Resonance
• Capacitive Coupling/Conductive
• Far-Field Technology
Breakup by Implementation:
Breakup by Receiver Application:
• Wearable Electronics
• Electric Vehicles
Breakup by End-Use Industry:
• Consumer Electronics
• Power Generation
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)
Who are the key companies in the Global Wireless Power Transmission market ?
• Energous Corporation
• Humavox Ltd.
• Integrated Device Technology Inc.
• Leggett & Platt
• Murata Manufacturing Co. Ltd.
• NuCurrent Inc.
• Qualcomm Incorporated
• Samsung Electronics
• TDK Corporation
• Texas Instruments
• Wi-Charge Ltd.
• WiTricity Corporation
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