Status : Published Published On : Feb, 2022 Report Code : VRSME9099 Industry : Semiconductor & Electronics Available Format : Page : 250
2015
2022

Global Wireless Power Transmission Market – Analysis and Forecast (2021-2027)

Industry Insight 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 Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)

Industry Overview

The global wireless power transmission market is anticipated to reach USD 16.5 billion by 2027 to USD 5.5 billion in 2021, witnessing a CAGR of 22.5% during the forecast period 2021-2027. The process of transmitting electrical energy from a power source to a device without the use of interconnecting cables is known as wireless power transmission (WPT). It primarily transfers energy via a set of transmitter and receiver coils using microwaves, solar cells, and magnetic resonance. Mobile phones, tablets, automobiles, drones, transportation equipment, and solar-panel arrays in space uses wireless power transmission for recharging.  It improves reliability, portability, and convenience and eliminates wires and batteries. As a result, it has a wide range of uses in industries such as consumer electronics, automotive, robotics, heating and ventilation, and industrial engineering. The key factors driving the growth of the wireless power transmission market include the increased need for up-gradation of existing infrastructure with developed systems and mounting demand for stable and safe power supply worldwide will accelerate the growth of the market.

Wireless Power Transmission Market

The COVD-19 pandemic has had an adverse impact on the wireless power transmission market owing to a halt in electronics and semiconductor production facilities and a lack of labor force globally.  Furthermore, the decline in manufacturing utilization, temporary facility closures, and travel bans have led to a decline in the growth of the wireless power transmission market in 2020. However, the wireless power transmission market is anticipated to recover from the crisis and there will be massive demand for wireless power transmission products post-pandemic period.

Market Segmentation

Insight by Technology

The global wireless power transmission market is divided into two categories based on technology: near-field technology and far-field technology. The near-field technology is sub-divided into inductive, magnetic resonance, and capacitive coupling/conductive. The far-field technology is sub-divided into microwave/RF and laser/infrared. Near-field technology dominates the market. Most applications that require contact or close proximity of around a few centimeters between the power source and its destination are served by near-field technologies with a limited range. Inductive technology in the near-field technology contributes to the largest share in the wireless power transmission market owing to its increased adoption in smartphones, tablets, and wearable devices as it is reliable, less costly, and has ease in availability.

Insight by Type

Based on type, the global wireless power transmission market is bifurcated into device with battery and device without battery. The device with a battery is anticipated to have a significant growth owing to its convenience, mobility, and safety of a device and radiation can travel long distances.

Insight by Receiver Application

Based on receiver application, the global wireless power transmission market is divided into smartphones, tablets, wearable electronics, notebooks, other consumer electronics, electric vehicle charging, and industrial. Smartphones dominate the receiver application for the wireless power transmission market as it uses inductive wireless power transmission. Some of the wireless charging smartphones include Samsung Galaxy Series, Motorola Droid phones, and Google Nexus phones, among others.

Insight by Transmitter Application

Based on transmitter application, the global wireless power transmission market is divided into standalone chargers, automotive (in-vehicle), electric vehicle charging, furniture, and industrial. Electric vehicle charging is expected to be the fastest-growing transmitter application as wireless charging is the optimal solution to charge electric vehicles and hybrid electric vehicles. Businesses are offering complete wireless charging options for electric vehicles which is possible via inductive technology.

Wireless Power Transmission Market Report Coverage

Report Metric

Details

Historical Period

2015–2020

Base Year Considered

2021

Forecast Period

2021-2027

Market Size in 2021

$5.5 Billion

Revenue Forecast in 2027

$16.5 Billion

Growth Rate

CAGR 22.5%

Segments Covered in the Report

By Technology, By Type, By Receiver Application, and By Transmitter Application

Report Scope

Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling

Regions Covered in the Report

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

 

Industry Dynamics

Industry Trends

The rising trend of industrialization increased penetration of IoT, and growth in digitalization are the trends prevalent in the wireless power transmission market. Furthermore, the shifting trend towards the increased standard of living and rising disposable income will further accelerate the growth of the global wireless power transmission market.

Growth Drivers

Factors attributing to the growth of the wireless power transmission market include the accessibility offered to the consumers to opt for wireless connectivity and the demand for effective charging systems. The ability of wireless power devices to transmit power with a strong electromagnetic field, as well as limitations in wire-based power transmission, is projected to have a beneficial impact on market growth. The rapid industrialization, awareness regarding clean energy storage, growing modernization and construction of smart cities, mounting demand for consumer electronics, increased utilization to operate robots and drones, technological development, and the need to connect distant places will act as a driver for the growth of the wireless power transmission technology market. Nevertheless, the increased benefits to the end-users and extending the life of the battery consumes less energy will drive the growth of the wireless power transmission market.

Challenges

The massive cost deployed for wireless power transmission technology-based devices as compared to conventional transmission sources, lack of the availability of brands that can assure quality, and uncertified and non-standardized products will affect the user experience which may restrain the growth of the market. Furthermore, limitation of range, safety issue, dearth of knowledge, lack of infrastructure, and technological expertise along with technological challenges occurring during service of island-style may pose a challenge in the WPT market.

Opportunities

The use of solar energy in wireless power transmission, as well as firms such as Nissan, Honda, and others focusing on electric vehicles, will generate the potential for growth in the WPT market between 2021 and 2027. Furthermore, the increased expenditure of R&D activities on mini and microrobots for wireless power transfer and the adoption of clean energy capacities in Asia-Pacific countries will further provide opportunities for growth in the market.

Geographic Overview

Geographically, APAC is anticipated to contribute to the largest share in the wireless power transmission market during the projected period as it is the manufacturing hub for consumer electronic products like smartphones, tablets, wearable devices, laptops, etc. Moreover, the increased R&D activities, developments in the automobile industry in China, Malaysia, and Indonesia, favorable regulations, and incentives by the government to enhance renewable energy and availability of raw materials will accelerate the growth of the market in the region.

Competitive Insight

The industry players are entering into organic and inorganic strategies such as product portfolio expansion, geographical expansion, M&A, partnerships, agreements, collaborations to enhance their market penetration and strengthen their position in the market. The small players are entering the wireless power transmission market by forming strategic alliances will global industry players like Qualcomm Technologies, Texas Instruments, Inc., SAMSUNG, and Murata Manufacturing Co., Ltd.

One of the most well-known semiconductor firms, Texas Instruments, Inc., provides a component supplier list for wireless power transfer technology. The company offers a wide range of wireless power transmitter and receiver ICs and modules, with power requirements ranging from low to high. The company is improving connectivity protocols such as Wi-Fi, Bluetooth, Sub-1 GHz, Zigbee, etc.    They also provide a portfolio of low-cost, high-quality wireless microcontrollers (MCUs), certified modules, and transceivers, as well as complete software solutions to meet every RF design requirement. Wearables, smartphones, automotive, grid infrastructure, factory automation, industrial, and medical care are among the applications that the company is working on.

For wireless charger applications, Renesas is a leader in wireless power transmitter IC solutions. Renesas enables OEMs and ODMs to design charging bases that are fully compatible with any Qi-compliant portable device by providing Qi-compliant support for multiple input voltages and coil configurations. Renesas wireless power transmitter solutions are suited for charging mats and pads, public facilities, office furniture, personal computer docks, and other portable electronic charging systems. It is a market leader for mobile devices and transmitters in the smartphone sector. Renesas delivers a Qi 1.3 compatible automobile in-cabin wireless power system that also supports functional safety.

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.

In November 2021, Panasonic Corporation has designed a secure near-field communication technology based on Wavelet OFDM*2 and a magnetic field communication mechanism. As a result, the communication range can be limited to a few millimeters to tens of centimeters. By adjusting the size of the loop antenna and the communication device's transmission power, this technique can simply manage the communication range.

Some of the industry players in the 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.

Wireless Power Transmission Market Size and Market Analysis

Region Covered in the Report

•    North America

- U.S.
- Canada
- Mexico

•    Europe

- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe

•    Asia-Pacific (APAC)

- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific

•    Rest of the World (RoW)

- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries

Frequently Asked Questions

The global wireless power transmission market is anticipated to reach 22.5% CAGR during 2021-2027.
The global wireless power transmission market is anticipated to reach USD 16.5 billion by 2027.
APAC is anticipated to contribute to the largest share in the wireless power transmission market during the projected period as it is the manufacturing hub for consumer electronic products like smartphones, tablets, wearable devices, laptops, etc.
The 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.
Some of the industry players in the 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.

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle

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