Wireless Power Transmission Market Size Projected to Garner USD 76.6 Billion by 2032 growing at 21.2% CAGR - Exclusive Report by Acumen Research and Consulting

Author: Acumen Research and Consulting

The Global Wireless Power Transmission Market Size is predicted to reach USD 76.6 Billion by 2032 from USD 11.4 Billion in 2022, at a CAGR of 21.2% between 2023 and 2032, as per the Acumen Research and Consulting

Wireless power transmission, also known as wireless energy transfer or wireless charging, is the process of transmitting electrical energy from a power source to an electrical device without the need for physical wires or direct electrical contact. This technology utilizes electromagnetic fields to transfer power between the transmitter and receiver. It offers several advantages, such as convenience, elimination of cables and connectors, and increased safety.

The market for wireless power transmission has experienced significant growth in recent years and is expected to continue expanding. The increasing adoption of wireless charging in consumer electronics, such as smartphones, tablets, and wearables, has been one of the key drivers for market growth. Consumers are increasingly looking for convenient charging solutions that eliminate the hassle of plugging and unplugging cables. Additionally, the growing popularity of electric vehicles (EVs) has created a demand for wireless charging infrastructure, which further contributes to the market growth.

The healthcare industry is another sector driving the growth of wireless power transmission. Medical devices and implants can benefit from wireless charging, as it eliminates the need for invasive procedures to replace batteries or power sources. Wireless power transmission enables efficient and safe charging of implantable devices, such as pacemakers, cochlear implants, and neurostimulators.

Furthermore, the industrial sector is recognizing the potential of wireless power transmission for various applications. For instance, in industrial automation, wireless charging can provide a flexible and efficient solution for powering sensors, actuators, and other devices in hard-to-reach or hazardous locations. This technology can also be utilized in robotics, drones, and smart home applications, further expanding the market.

Wireless Power Transmission Market Value

Wireless Power Transmission Market Statistics

  • Global Wireless Power Transmission Market value was worth USD 11.4 Billion in 2022, with a 21.2% CAGR from 2023 to 2032
  • Asia-Pacific Wireless Power Transmission Market share occupied around 38% in 2022
  • By technology, the near-field technologies segment captured the majority of the market
  • By application, the receiver segment is expected to show noticeable growth during the predicted period
  • The rising popularity of smart home devices and the Internet of Things (IoT), propel the Wireless Power Transmission Market Revenue

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Wireless Power Transmission Market Trends

The wireless power transmission market is entering an exciting and evolving era, driven by technological advancements and growing applications across various industries. This era is marked by the development of more efficient and long-range wireless charging technologies, expanding adoption in electric vehicles (EVs), and the emergence of new use cases in industries like robotics and smart infrastructure.

One of the significant trends shaping the evolving era of wireless power transmission is the improvement in charging efficiency and range. Researchers and companies are investing in technologies such as resonant inductive coupling and magnetic resonance coupling to enhance the power transfer efficiency and enable charging over longer distances. These advancements are crucial for widespread adoption, as they address concerns about energy loss and offer more flexibility in charging devices.

The rise of EVs is also playing a significant role in shaping the wireless power transmission market. As the demand for electric vehicles continues to grow, wireless charging provides a convenient and efficient solution for charging these vehicles without the need for physical cables and plugs. This technology eliminates the inconvenience of manual plugging and supports autonomous charging, where EVs can park over wireless charging pads and charge automatically. The integration of wireless charging infrastructure in public spaces and residential areas is expected to accelerate the adoption of EVs and drive the wireless power transmission market growth.

Wireless Power Transmission Market Segmentation

Acumen Research and Consulting has segmented the global Wireless Power Transmission Market by technology, type, application, and region.

  • By technology, the industry is categorized into near-field technologies (capacitive coupling/conductive, magnetic resonance technologies, inductive technology), and far-field technologies (laser/infrared and microwave).
  • By type, the market is divided into devices without battery, and devices with battery.
  • By application, the market is bifurcated into receiver application (wearable electronics, smartphones, notebooks, tablets, other consumer electronics, and electric vehicle charging), and transmitter application (automotive (in-vehicle charging system), standalone chargers, electric vehicle charging, and furniture).
  • By region, the market is classified into Asia-Pacific, Latin America, North America, Europe, and the MEA.

Wireless Power Transmission Market Regional Overview

According to the wireless power transmission industry analysis, North America is experiencing significant growth in the wireless power transmission market due to several key factors. The region has been at the forefront of technological innovation, with a strong presence of major tech companies and a robust ecosystem of research and development. This environment fosters the advancement and commercialization of wireless power transmission technologies, driving market growth.

Wireless Power Transmission Market Players

Some of the prominent Wireless Power Transmission Market companies are Qualcomm Incorporated, Samsung Electronics Co., Ltd., Powermat Technologies Ltd., WiTricity Corporation, Energous Corporation, Ossia Inc., Integrated Device Technology, Inc., TDK Corporation, Powercast Corporation, NuCurrent Inc., uBeam Inc., and PowerSphyr Inc.

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