Global Market for Wireless Power Transmission is Anticipated to grow at a Significant Pace i.e., USD 5.5 Billion during the Forecast Period 2021-2027

Published Date: Feb, 2022

The global wireless power transmission market is anticipated to reach 22.5% CAGR during 2021-2027. Wireless power transmission is a technological development that transmits power via wireless connectivity between any two points, thus the Loads receive electromagnetic energy from the source. The robust industrialization, globalization, rising demand for consumer electronics globally, extensive adoption of WPT technologies as an alternative to wired charging systems for smartphones, portable MP3 players, digital cameras, and laptops, increasing need for energy conversion and energy-efficient solutions and rising need for effective charging systems will bolster the growth of the wireless power transmission market. Furthermore, the mounting demand for effective and reliable power distribution systems, technological development by prominent industry players, and usage of WPT-based smart grids which have improved the utilization of WPT systems in smart meters, appliances, and other equipment will propel the growth of the market. Thus, wireless power transmissions are extensively adopted in consumer electronics, industrial, automotive, healthcare, and defense applications.  Nevertheless, wireless charging has also seen considerable advancements, with numerous start-ups developing products based on laser and microwave technologies that can charge multiple devices at once.

In January 2021, Renesas Electronics Corporation, a leading provider of advanced semiconductor solutions has announced the P9418 which is the world's first 60W wireless power receiver so as to provide faster wireless charging solutions in smartphones, laptops, and notebook devices. The highly integrated P9418 wireless power receiver uses Renesas' patented WattShare technology to supply up to 60W of power in a single chip.

The COVID-19 outbreak has led to a negative effect on the economic conditions of the wireless power transmission market globally. There was a lack of workforce and the temporary shutdown of the manufacturing units. However, the industry players are re-evaluating their strategies and are stabilizing the supply chain in the post-pandemic period.

Browse 60 market data Tables and 35 Figures spread through 250 Pages and in-depth TOC on " Wireless Power Transmission Market by Technology (Near-Field Technology (Inductive, Magnetic Resonance, and Capacitive Coupling/Conductive) and Far-Field Technology (Microwave/RF and Laser/Infrared), by Type (Device with Battery and Device without Battery), by Receiver Application (Smartphones, Tablets, Wearable Electronics, Notebooks, Other Consumer Electronics, Electric Vehicle Charging, and Industrial), by Transmitter Application (Standalone Chargers, Automotive (In-Vehicle), Electric Vehicle Charging, Furniture, and Industrial), and Region - Global Forecast to 2027"

By technology, magnetic resonance technology is anticipated to witness the fastest growth during the forecast period.

Magnetic resonance technology is anticipated to be the fastest-growing segment in the wireless power transmission market as it has growth potential in several applications like smartphone charging, wearable electronics charging, EV charging owing to its user-friendly characteristic.

Global Wireless Power Transmission Market Segmentation Analysis

Segment

Categorization

Leading Category

Technology

Near-Field Technology (Inductive, Magnetic Resonance, and Capacitive Coupling/Conductive) and Far-Field Technology (Microwave/RF and Laser/Infrared)

Near-Field Technology (Largest)

Type

Device with Battery and Device without Battery

Device with Battery (Significant Growth)

Receiver Application

Smartphones, Tablets, Wearable Electronics, Notebooks, Other Consumer Electronics, Electric Vehicle Charging, and Industrial

Smartphones (Largest)

Transmitter Application

Standalone Chargers, Automotive (In-Vehicle), Electric Vehicle Charging, Furniture, and Industrial

Electric Vehicle Charging (Largest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

Asia-Pacific (Largest)

 Europe (Highest)

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“Europe to hold the highest market share in 2021.”

Europe is anticipated to have the highest market share as they are the early adopters of wireless power transmission technology. Europe is the hub of the automotive sector especially in electric vehicles and the growth in wearable electronics will propel the growth of the wireless power transmission market in the region.

Some of the major players in the global wireless power transmission market include Texas Instruments Incorporated, Qualcomm Technologies, Inc., Renesas Electronics Corporation, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, Panasonic Corporation, ROHM CO., LTD., Semtech Corp., Energizer Holdings, Inc., Murata Manufacturing Co., Ltd., and WiTricity Corporation.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Technology, Type, Receiver Application, Transmitter Application, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Texas Instruments Incorporated, Qualcomm Technologies, Inc., Renesas Electronics Corporation, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, Panasonic Corporation, ROHM CO., LTD., Semtech Corp., Energizer Holdings, Inc., Murata Manufacturing Co., Ltd., and WiTricity Corporation.

Global Wireless Power Transmission Market Coverage

Technology Insight and Forecast 2015-2027

  • Near-Field Technology
    • Inductive
    • Magnetic Resonance
    • Capacitive Coupling/Conductive
  • Far-Field Technology
    • Microwave/RF
    • Laser/Infrared

Type Insight and Forecast 2015-2027

  • Device with Battery
  • Device without Battery

Receiver Application Insight and Forecast 2015-2027

  • Smartphones
  • Tablets
  • Wearable Electronics
  • Notebooks
  • Other Consumer Electronics
  • Electric Vehicle Charging
  • Industrial

Transmitter Application Insight and Forecast 2015-2027

  • Standalone Chargers
  • Automotive (In-Vehicle)
  • Electric Vehicle Charging
  • Furniture
  • Industrial

Geographical Segmentation

Wireless Power Transmission Market by Region

North America

  • By Technology
  • By Type
  • By Receiver Application
  • By Transmitter Application
  • By Country – U.S., Canada, and Mexico

Europe

  • By Technology
  • By Type
  • By Receiver Application
  • By Transmitter Application
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Technology
  • By Type
  • By Receiver Application
  • By Transmitter Application
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Technology
  • By Type
  • By Receiver Application
  • By Transmitter Application
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries