Global Wireless Power Transmission Market Overview:
The latest report by IMARC Group, titled “Wireless Power Transmission Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the wireless power transmission market research. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global wireless power transmission market size reached a value of US$ 10.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 53 Billion by 2027, exhibiting at a CAGR of 30.5% during 2022-2027.
It is a process in which electromagnetic energy is transmitted wirelessly from the power source to load in a system without the use of wires. There is less electricity loss in wireless power transmission than in wired power transmission since wireless power transmission does not suffer from aggregate technical and commercial (AT&C) losses. Wireless power transmission prevents batteries from being overcharged as wireless chargers sense how much power is needed for each electronic device. There are several advantages to wireless transmission, including eliminating cables, clutter-free charging, fewer energy losses, longer battery life, and power transmission over long distances. As a result, it is extensively utilized in consumer electronics, such as laptops, smartphones, tablets, and smart wearables.
As a result of the COVID outbreak, the wireless power transmission market has been negatively affected globally. In response to the imposed lockdowns, restrictions, and social distancing, major production facilities were forced to shut down, resulting in a major production slowdown. However, as the number of COVID-19 cases declines globally, the market has been recovering gradually and is expected to experience positive growth opportunities.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Wireless Power Transmission Market Trends:
The market is primarily driven by the augmenting adoption of wireless power transmission technology in consumer electronics across the globe. This can be attributed to the considerable rise in the sales of battery-powered smart devices. In addition to this, the widespread renovations of outdated wired power transmission tools are providing an impetus to the market growth. Moreover, the implementation of wireless charging applications in electric vehicles (EVs) is also offering lucrative opportunities for the major players. Apart from this, continual technological advancements in long-range wireless power transmission systems are further creating a positive outlook for the market. The market is further driven by the increasing adoption of solar energy for wireless power transfer and transmission systems. Some of the other factors contributing to the market include rapid urbanization, inflating disposable incomes of the masses, and extensive research and development (R&D) activities conducted by key players.
Global Wireless Power Transmission Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key players:
The report has also analyzed the competitive landscape of the market with some of the key players being:
- Energous Corporation
- Humavox Ltd.
- Integrated Device Technology Inc.
- Leggett & Platt
- Murata Manufacturing Co. Ltd.
- NuCurrent Inc.
- Qualcomm Incorporated
- Samsung Electronics
- TDK Corporation
- Texas Instruments
- Wi-Charge Ltd.
- WiTricity Corporation
Breakup by Type:
- Devices With Battery
- Devices Without Battery
- Near-Field Technology
- Magnetic Resonance
- Capacitive Coupling/Conductive
- Far-Field Technology
Breakup by Implementation:
By Receiver Application:
- Wearable Electronics
- Electric Vehicles
Breakup by End-Use Industry:
- Consumer Electronics
- Power Generation
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- The Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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