Wireless Power Transmission Market Trends and Forecast
The future of wireless power transmission market looks promising with opportunities in the smartphones, notebooks & tablets, wearable electronics, and electric vehicle charging applications. The global wireless power transmission market is expected to reach an estimated $35 billion by 2030 with a CAGR of 14% from 2023 to 2030. The major drivers for this market are increasing consumer preference for wireless connectivity, growth in electric vehicles, and increasing need for effective charging systems.
Wireless power transmission (WPT) systems make use of various principal raw materials and components. These consist of semiconductors for signal conversion, coils and inductors for magnetic coupling, capacitors for energy storage, and printed circuit boards (PCBs) for electronic integration. The parts are protected by enclosures made from either plastics or metals while antennas enable transmission to cover large areas. Also, transformers, diodes, control modules play a crucial role in the effective conversion of electrical power into heat durability as well as ensuring adherence to safety standards among others that enhance the operational effectiveness and dependability of WPT technologies. Wireless power transmission (WPT) technology can vary significantly in terms of cost with regards to its type and application. Near-field systems built for short distances come at tens to hundreds of dollars making it easier to charge devices wirelessly whenever needed. On the other hand, far-field systems capable of transmitting further can cost several hundred or even thousands of dollars due to their greater complexity and power needs. The WPT market is characterized by competition which leads to innovation as well as price competitiveness in future advancements claiming that future developments will drive wireless charging costs down thereby democratizing access across sectors.
• Near-field technology, such as inductive and far-field technologies are used for wireless power transmission in various end use industries. Lucintel forecasts that inductive will remain the largest technology over the forecast period due its wide range of applications, such as smartphones, tablets, and wearable devices.
• Smartphones will remain the largest segment due to increasing demand for premium smartphones with wireless charging capabilities and rising adoption of inductive wireless power transmission in various smartphones.
• North America will remain the largest region over the forecast period due to increasing demand for electronic products, such as smartphones, tablets, laptops, and wearable devices, increasing expenditure for research and development proficiencies, and favorable government policies to improve the renewable energy mix within the region.
Country wise Outlook for Wireless Power Transmission Market
The wireless power transmission market is witnessing substantial growth globally, driven by increased demand from various application such as receivers and transmitters. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major wireless power transmission producers in key regions: the USA, China, India, Brazil, Germany and Canada.
Emerging Trends in the Wireless Power Transmission Market
Emerging trends in the wireless power transmission market shaping its future applications and market dynamics:
• Wireless power transmission through infrared light : Researchers in South Korea have tested a new method of wireless power transmission through infrared light which can transmit power across 30 meters (90 feet) to light an LED light. This new system marks the beginning of the end for charging devices with stationary hardware. This new technology could be a breakthrough in actual wireless charging systems for mobile devices and Internet of Things (IoT) sensors.
• Optical beaming technique to transmit power to a portable 5g base station: Wireless power has the potential to be very useful, but range is a major hurdle. In a new proof-of-concept project, Ericsson and PowerLight Technologies have demonstrated a technique called optical beaming, using a laser to transmit power to a portable 5G base station. PowerLight has been developing the corresponding technology over many years, and has now demonstrated it with a proof-of-concept in partnership with telecommunications company Ericsson.
• Wireless power transmission in robotics: Wireless power transmission technology has been used for the research and development of mini and micro robots for wireless power transfer. Several research programs pertaining to wireless-powered drones are taking place.
• Standardization and Interoperability: Efforts towards establishing industry standards and protocols for WPT systems are underway to ensure compatibility and interoperability across different devices and manufacturers.
• Miniaturization and Scalability: Innovations in miniaturizing components and scalability are making WPT systems more compact, versatile, and suitable for integration into various environments and applications.
• Increased Efficiency: Advancements in resonant and beamforming technologies are improving the efficiency of WPT systems, reducing energy loss and enhancing overall performance.
A total of 79 figures / charts and 78 tables are provided in this 183-page report to help in your business decisions. A sample figure with insights is shown below.
Recent Development in the Wireless Power Transmission Market
Ongoing innovations and advancements in various sectors of the wireless power transmission market which have been highlighted by recent developments:
• Resonance and Beamforming: The efficiency and range of WPT systems have been enhanced by ground-breaking developments in resonant coupling and beamforming. As a result of these, power transfer becomes more reliable and efficient over longer distances.
• Integration with Electric Vehicles (EVs): There is an ongoing trend of integrating WPT systems into the charging infrastructure of electric vehicles. This enables convenient and automatic charging without the need for physical plugs or cables thereby improving user convenience as well as reducing charging times.
• Commercialization in Consumer Electronics: For consumer electronics such as smartphones, tablets, wearable devices among others there is a rising drive towards commercialization of WPT solutions. Companies are developing compact and effective charging pads/surfaces that allow wireless home-based or public space charging.
• Healthcare Applications: Wireless charging of medical devices and implants in healthcare settings uses WPT technology. Consequently, patients do not have to undergo any invasive procedure to replace batteries hence enhancing patient comfort besides minimizing the risk of infections caused by surgeries.
• Standardization Efforts: The industry’s standardization efforts for WPT technologies/protocols are progressing towards interoperability between different devices/systems. By doing so, it makes it possible for many device manufacturers to adopt them at once while maintaining broad compatibility across all applications.
• Safety and Regulatory Compliance: Manufacturers are investing on improved safety features that would make their products comply with the electromagnetic emissions regulations as well as power levels guidelines. This will ensure that WPT systems can safely be used in various environments and applications.
Strategic Growth Opportunities for Wireless Power Transmission Market
Various businesses are being offered by wireless power transmission (WPT) which is characterized by significant strategic growth prospects that are driven by technological breakthroughs and increase in demand for power solutions which are both reliable and convenient.
• Consumer Electronics and Mobile Devices: There exists an increasing need for wireless charging solutions in consumer electronics like, smart phones, tablets and wearable. The development of small sized WTP systems that work well with homes, offices or public spaces presents opportunities. These could allow partnering with manufacturers of electronic devices to integrate WPT capabilities within their product lines as a way of improving market penetration and user adoption considering there is growing demand for flexibility and convenience from consumers.
• Electric Vehicles (EVs) and Autonomous Vehicles: Wireless charging infrastructure facilitated by WPT technology has the potential to change the electric vehicle market. From this perspective, it is worth noting that no physical plugs or cables will be needed resulting into simplified charging process. Partnership with automobile companies and infrastructure service providers can create strategic growth opportunities through deployment of WPT system applicable in EVs across residential premises, commercial facilities as well as in public arena as appropriate. In enhancement of quick global adoption of EV’s improvement on WPT system efficiency will play a critical role.
• Healthcare and Medical Devices: In healthcare setting, medical devices implants among other equipment can be charged wirelessly using WPT providing huge benefits. This technology helps in reducing any chances of infection during replacement processes often associated with batteries making patients more comfortable. There could be strategic options where partnerships are built between health care practitioners/medical device developer organizations or specialists so that together they develop custom made quality compliant specific WPT deploying products aimed at enhancing patient care outcomes determined by regulatory expectations.
• Industrial and IoT Applications: The use of IoT tools as well as smart technologies has been embraced widely across industries thus fuelling the desire for scalable, dependable WPT options provided by industries today. Strategic growth may involve industrial automation deployments such sap manufacturing plants, factories and remote monitoring indents so as to attract WPT systems. This is possible by having partnerships with IoT platform providers and industrial automation companies which may enable integration of WPT in existing infrastructure so that they improve operational efficiency while enabling predictive maintenance.
• Infrastructure and Smart Cities: Through power smart city initiatives, wireless power transmission (WPT) has the potential of reshaping urban infrastructures. There are strategic options where collaboration can be realized with city planners, utilities or technology firms for situational deployment of WPT systems in such areas as smart lighting, sensors and infrastructure monitoring. Development goals like sustainable environment with reduced energy consumption plus urban mobility can be enhanced using scalable and efficient WPT solutions.
Wireless Power Transmission Market Driver and Challenges
Wireless power transmission has a very important role in many application including receiver and transmitter. The changing market dynamics are being driven by the convenience and mobility, electric vehicle integration and iot and smart devices, healthcare applications and environmental sustainability. however, challenges like efficiency and power loss, standardization and compatibility, safety concerns and cost and scalability.
The factors responsible for driving the wireless power transmission market include:
1. Convenience and Mobility: WPT offers convenience through the elimination of physical connectors and charging devices without touching them. It is this aspect that interests consumers who prefer less complicated ways of charging devices like smartphones, wearables among others.
2. Electric Vehicle Integration: WPT provides a simple way of charging electric vehicles wirelessly as their popularity increases. This will help in reducing reliance on conventional charging stations thereby supporting the growth of EV market.
3. IoT and Smart Devices: The need to have constant power supply for increasing numbers of IoT devices which are now available necessitates WPT. This means that different applications (i.e., industrial sensors or smart appliances) can be supported through integration with an IoT network via WPT.
4. Healthcare Applications: In healthcare, wireless charging becomes possible through WPT technology, enabling patients better comfort and decreasing the risk of infections due to bodily contact.
5. Environmental Sustainability: When compared to traditional wired charging systems, WPT is more sustainable as it uses fewer disposable batteries hence minimizes energy losses.
Challenges facing the wireless power transmission market are:
1. Efficiency and Power Loss: One of the hardest things in WPT is optimizing efficiency over distance. When power is transmitted wirelessly, it can lead to loss of energy which is particularly noticed over larger distances thus reducing overall system’ s efficiency and efficacy.
2. Standardization and Compatibility: Non-standardizedness of technologies and protocols in WPT can make them non-interoperable by diverse systems and devices. In order to address this challenge, industry players need to work together towards setting common standards that will ensure cross-platform compatibility.
3. Safety Concerns: Safety standards must be adhered to and Electromagnetic interference (EMI) minimized during WPT development. Compliance with regulations as well as addressing possible health risks caused by electromagnetic fields is paramount for market acceptance.
4. Cost and Scalability: The costs of developing and deploying WPT systems initially could be high hence affecting the affordability as well as scaling up. Manufacturers should therefore look into producing affordable products while at the same time increasing their output to match growing demand from the market.
The wireless power transmission (WPT) market is poised for growth due to its ability to offer convenience, mobility, and integration with emerging technologies. The ability to wirelessly charge electric vehicles, IoT devices, and healthcare applications aligns with the evolving demands for seamless power solutions and environmental sustainability. As consumers and industries increasingly seek alternatives to traditional wired charging, WPT technology provides an attractive option with its potential to enhance user convenience and reduce energy waste.
Wireless Power Transmission Suppliers and Their Market Share
The wireless power transmission is highly competitive, with several key players such as Integrated Device Technology, Qualcomm, Samsung Electronics, TDK Corporation, Texas Instruments have established their presence in the market and hold a significant market share. To know the current market share of each of major players Contact Us. Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies wireless power transmission companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Wireless power transmission insulation companies profiled in this report includes.
• Integrated Device Technology
• Qualcomm
• Samsung Electronics
• TDK Corporation
• Texas Instruments
• Nucurrent
• Murata Manufacturing Co.
• Energizer Holdings
• Witricity Corporation
These companies have established themselves as leaders in the wireless power transmission industry, with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations.
The market share dynamics within the wireless power transmission market are evolving, with the entry of new players and the emergence of innovative wireless power transmission. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.
Wireless Power Transmission by Segment
Wireless power transmission (WPT) is experiencing growth in several key segments. Consumer electronics, particularly smartphones and wearables, are adopting WPT for convenient charging solutions. The electric vehicle sector is rapidly integrating WPT for efficient and cable-free charging infrastructure. In healthcare, WPT is enhancing patient care by enabling wireless charging of medical devices and implants. Industrial IoT applications are also driving growth as industries adopt WPT for powering sensors and smart devices. Additionally, WPT is being integrated into smart city initiatives, supporting sustainable urban infrastructure developments.
This wireless power transmission market report provides a comprehensive analysis of the market's current trends, growth drivers, challenges, and future prospects in all major segments like above. It covers various segments, including wireless power transmission market by technology, implementation, and application. The report offers insights into regional dynamics, highlighting the major markets for wireless power transmission and their growth potentials. The study includes trends and forecast for the global wireless power transmission market by technology, implementation, application, and region, as follows:
Wireless Power Transmission Market by Technology [Value ($B) Analysis from 2018 to 2030]:
• Near-Field Technology
o Inductive
o Magnetic Resonance
o Capacitive Coupling/Conductive
• Far-Field Technology
o Microwave/RF
o Laser/Infrared
Wireless Power Transmission Market by Implementation [Value ($B) Analysis from 2018 to 2030]:
• Integrated
• Aftermarket
Wireless Power Transmission Market by Application [Value ($B) Analysis from 2018 to 2030]:
• Receiver
o Smartphones
o Notebooks & Tablets
o Wearable Electronics
o Electric Vehicle Charging
o Industrial
• Transmitter
o Standalone Chargers
o Automotive (In Vehicle)
o Electric Vehicle Charging
o Industrial
Wireless Power Transmission Market by Region [Value ($B) Analysis from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Features of Wireless Power Transmission Market
• Market Size Estimates: Wireless power transmission market size estimation in terms of value ($B)
• Trend And Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
• Segmentation Analysis: Wireless power transmission market size by various segments, such as by technology, implementation, and application.
• Regional Analysis: Wireless power transmission market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different technology, implementations, applications, and regions for wireless power transmission market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for wireless power transmission market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
If you are looking to expand your business in wireless power transmission or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
FAQ
Q1. What is wireless power transmission market size?
Answer: The global wireless power transmission market is expected to reach an estimated $35 billion by 2030.
Q2. What is the growth forecast for wireless power transmission market?
Answer: The global wireless power transmission market is expected to grow with a CAGR of 14% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of wireless power transmission market?
Answer: The major drivers for this market are increasing consumer preference for wireless connectivity, growth in electric vehicles, and increasing need for effective charging systems.
Q4. What are the major segments for wireless power transmission market?
Answer: The future of wireless power transmission market looks promising with opportunities in the smartphone, notebook, tablet, wearable electronic and electric vehicle charging applications.
Q5. What are the emerging trends in wireless power transmission market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include wireless power transmission through infrared light, optical beaming technique to transmit power to a portable 5g base station, wireless power transmission in robotics, standardization and interoperability, miniaturization and scalability.
Q6. Who are the key wireless power transmission companies?
Answer: Some of the key wireless power transmission companies are as follows:
Integrated Device Technology
• Qualcomm
• Samsung Electronics
• TDK Corporation
• Texas Instruments
• Nucurrent
• Murata Manufacturing Co.
• Energizer Holdings
• Witricity Corporation
Q7. Which wireless power transmission segment will be the largest in future?
Answer: Lucintel forecasts that inductive under the near-field segment will remain the largest segment over the forecast period due to radiate technique that helps in long-distance wireless power transfer. Also, advanced batteries have been developed which is used in the market, and they are also used in the defense and healthcare sectors.
Q8. In wireless power transmission market, which region is expected to be the largest in next 7 years?
Answer: Asia Pacific will remain the largest region over the forecast period due to increasing demand for electronic products, such as smartphones, tablets, laptops, and wearable devices, increasing expenditure for research and development proficiencies, and rising favorable norms and incentives from various governments to improve the renewable energy blend within the region.
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1. What are some of the most promising, high-growth opportunities for 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]), implementation (integrated and aftermarket), application (receiver [smartphones, notebooks & tablets, wearable electronics, electric vehicle charging, and industrial] and transmitter [standalone charges, automotive (in vehicle), electric vehicle charging, and industrial]), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity did occur in the last five years and what has been the impact on the analyst at email: helpdesk@lucintel.com we will be glad to get back to you soon.