Wireless Power Transmission Market Size, Share And Global Trend By Technology (Inductive, Magnetic Resonance, Conductive, RF,Infrared), By Range(Near Field, Far Field), By Application(Consumer Electronics, Automotive, Industrial, Healthcare, Defence, Others), And Regional Forecast, 2024-2032

Wireless power transmission is fast and can be used over short & long distances. With the evolving technology, there has been an urge for the introduction of wireless transmission devices. Wireless power transmission devices offer the advantages of convenience and fewer energy losses over conventional energy transfer methods. Consumers worldwide prefer wireless power transmission products such as wireless smartphone charger, wireless car charger, and others. The outdated wired power transmission tools are being replaced with the latest technology of power transmission acting as a boost for the wireless transmission market. Countries like the US are investing highly on the adoption of wireless power transmission technology, to take full advantage of the power system networks and reduce the installation cost of overhead cables. 

On the basis of technology, the global wireless power transmission market can be segmented into inductive, magnetic resonance, conductive, RF and infrared. On the basis of its range, the global wireless power transmission market can be segmented into near field and far field. Depending upon the requirement the range of transmission is decided. On the basis of application, the global wireless power transmission market can be segmented into consumer electronics, automotive, industrial, healthcare, defence, and others. Wireless transmission devices are extensively used in consumer electronics goods applications such as smartphones, laptops, and tablets. Whereas, the largest application of wireless power transmission is the solar-power satellites. It is also used in robots and fuel-free rockets, fuel-free aircraft, and fuel-free electric automobiles.

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The key market drivers for the global wireless power transmission market are the ongoing technological advancements in wireless transmission devices and rise in the disposable income of people. Also, the low maintenance cost and flexibility to work over short and long-range act as key market drivers for global wireless power transmission market.

Key market restraint for the global wireless power transmission market is the high cost which is required to be invested for installing wireless transmission devices. The lack of infrastructure required, low efficiency, and fear of electromagnetic rays and radiation among people are the key market restraints for the global wireless transmission market.

Key Players Covered

Key players operating in the global wireless power transmission cables market are WiTricity, Qualcomm, Convenient Power HK, Leggett & Platt, Energizer Holdings, Inc., Plugless Power, Powermat Technologies Ltd., Murata Manufacturing Co., Ltd., Integrated Device Technology, Inc. Texas Instruments, Sigfox, Ossia, Energous Corporation, Velmenni, and Voltserver.

SEGMENTATION

Regional Analysis

The global wireless power transmission market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific has dominated the wireless transmission market over the years and will continue to dominate the market. The growth in the electronics and automotive industry in China, South Korea, Malaysia, Indonesia, and Japan has been the driving factor for this region. Also, the rise in the disposable income of the middle-class people in the region has had a positive impact on the growth of this market. Europe holds the largest market after the Asia Pacific, the region is set to see growth in the market mainly due to the increasing market of hybrid vehicles, electric vehicles and mobile devices such as smartphones and others. In North America, the USA holds the highest market with the increasing adoption of wireless power transmission devices in healthcare and defence sector are escalating the demand for wireless power transmission market. In Latin America, Mexico has emerged as a manufacturing hub for the wireless transmission devices to meet the demand mainly coming from the North America region.

Key Industry Developments

• In March 2019, Samsung released its new S10 and S10plus smartphones which come with wireless power share feature which lets you use the back of the phone to Qi charge another phone. This idea was taken from the Huawei Mate 20 pro phone, but this phone was not available in certain territories including US. This has helped the sales of Samsung S10 worldwide.
• In July 2014, Hyundai released the ix25 model also known as Creta. There has been increase in the sales of this car in Indian market in recent times and this car in SUV segment offers wireless charging option unlike the other competitors like Maruti Suzuki Vitara Brezza.
• In February 2019, Rohm announced the development of an automotive wireless-charging solution with integrated near field communication system. This has led to merging together of Rohm’s automotive grade (AEC-Q100Qualified) IC with STMicroelectronics NFC Reader IC(ST25R3914) and 8-bit microcontroller (STM8A series).