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 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the wireless power transmission market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global wireless power transmission market size reached US$ 14.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 66.9 Billion by 2028, exhibiting a growth rate (CAGR) of 29.2% during 2023-2028. 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.
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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 In addition to this, the widespread renovations of outdated wired power transmission tools are providing an impetus to the market growth.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.
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
Key Market Segmentation:
- Devices With Battery
- Devices Without Battery
- Near-Field Technology
- Magnetic Resonance
- Capacitive Coupling/Conductive
- Far-Field Technology
- Wearable Electronics
- Electric Vehicles
- Consumer Electronics
- Power Generation
- 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
- Market Outlook
- 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.