The Wireless Power Transmission Market is estimated to grow from USD 8.2 billion in 2021 and is expected to grow USD 19.3 billion by 2026, at a CAGR of 20.2% between 2021 and 2026.
The transmission of electrical energy without the need for cables as a physical link is known as wireless power transfer (WPT), wireless power transmission (WPT), wireless energy transmission (WET), or electromagnetic power transfer. A transmitter device, powered by electric power from a power source, generates a time-varying electromagnetic field that sends power over space to a reception device, which extracts energy from the area and distributes it to an electrical load in a wireless power transmission system. The wireless power transmission technology can directly transmit the power without using wires, batteries; this is convenient to port from place to place and can improve the safety of users. In addition, these devices are more helpful where the users are facing interconnecting issues.
Near-field and far-field wireless power techniques are the two most common types. Power is transferred over short distances neither by magnetic fields using inductive coupling between wire coils nor by electric fields using capacitive coupling between metal electrodes in the immediate area or non-radiative approaches. The most broadly used wireless technology is inductive coupling, with uses such as charging handheld devices such as phones and electric toothbrushes, RFID tags, induction cooking, and wireless charging or continuous wireless power transfer in implantable medical devices, including artificial cardiac pacemakers or electric vehicles.
Wireless Power Transmission Market Drivers
The increase in consumers' interest in wireless connectivity may drive the market towards the projected period. This includes the consumers looking for cost-effective device quality, low maintenance, portability, and fast working device. Furthermore, the usage of wireless devices is expanding globally due to development in urbanization. Therefore, bringing advanced technologies into the market with innovative ideas may grow the wireless power transmission market.
The high cost of technology combined with the lack of wireless devices infrastructure may hamper the size of the wireless power transmission market. In addition, some of the technical issues occurring in wireless power devices are hindering the market's growth. The safety and quality of the devices are not guaranteed due to uncertified products.
Automobile manufacturing companies focus on electrically charged devices, the most significant opportunity in the wireless power transmission market. Furthermore, incorporating solar and wireless transmission will provide a growth opportunity to open up a new market.
Significant challenges facing the market are minor technical limitations and the limited transmission range of a particular technology. Marketing limitations are becoming a big challenge for the wireless power transmissions industry. Major issues like the biological environment that affect human life, security, and safety problems face the industry. Finally, the most challenging problem is that most start-up companies develop goods but never launch them.
Wireless Power Transmission Market – By Technology
Based on the technology of the wireless power transmission market, Inductive technology has practically commoditized the wireless power transmission business, particularly for consumer electronics applications; as a result, it commanded the most significant market share in 2020. Smartphones, tablets, and wearable devices are all examples of inductive wireless power transfer applications. Magnetic resonance technology, on the other hand, is still in its infancy. Thus, on the other hand, the far-field technology segment is expected to increase at the fastest rate over the forecast period.
Wireless Power Transmission Market – By Implementation:
Based on the implementation of the wireless power transmission market, the segment is divided into integrated and aftermarket. Among these, the integrated part registers the highest market share, and the aftermarket segment is growing the highest CAGR during the forecast period.
Wireless Power Transmission Market – By Receiver Application:
Due to the adoption of inductive wireless power transmission in various smartphones, smartphones are the most outstanding receiver application for wireless power transmission technology. Some prominent smartphones with wireless charging capability include the Samsung Galaxy Series, Motorola Droid phones, and Google Nexus phones. In addition, Samsung Electronics Co., Ltd. (South Korea) offers an extensive smartphone line with wireless charging receiver capabilities.
Wireless Power Transmission Market – By Transmitter Application:
The transmitter application of the wireless power transmission market is divided into standalone chargers, automotive, electric vehicle, furniture, and industrial. Among these, standalone chargers occupied a significant share of the market, whereas automotive is growing highest CAGR due to increase in usage of automatic products.
Wireless Power Transmission Market – By Region:
Most consumer electronic products such as smartphones, tablets, laptops, and wearable gadgets are manufactured in the Asia Pacific. Its large population and increasing urbanization have always resulted in high demand for electronics. As a result, the APAC region's big market size in the worldwide wireless power transmission technology market may be linked to large consumer electronics industries in countries like China, Japan, India, and South Korea.
Due to rising domestic demand and lower production costs than Europe and other North American countries such as Canada and the United States, electronics manufacturers have considered Mexico as a manufacturing hub. Over the next six years, the excellent prognosis for Mexico's electronics industry is predicted to stimulate demand for wireless power transfer.
The suspension of manufacturing plants in the region has resulted in a significant loss of business and revenue for the Asian and European countries under lockdown. In addition, the emergence of the COVID-19 disease has had a considerable influence on the operations of the production and manufacturing industries, resulting in a drop in the growth of the wireless power transmission market in 2020.
Electronics and semiconductors have been halted due to the recession and lack of workforce availability worldwide. In addition, the COVID-19 outbreak resulted in a significant and long-term drop in factory utilization, and travel bans and facility closures kept workers away from their factories, resulting in a slowing of the wireless power transmission industry's growth.
The negative impact of COVID-19 on the wireless power transmission market, on the other hand, is only predicted to last a short time; by early 2021, the market is likely to be fully recovered, with a high demand for wireless power transmission goods during the post-pandemic era. This is attributable to an increase in market participants rethinking their strategies and devising swift solutions to stabilize their supply chains.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Wireless Power Transmission Market, By Technology
6.1.1 Near-Field Technology
6.1.2 Far-Field Technology
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Wireless Power Transmission Market, By Implementation
6.2.3 Market Size Estimations & Forecasts (2021-2026)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Wireless Power Transmission Market, By Receiver Application
6.3.3 Wearable Electronics
6.3.5 Other Consumer Electronics
6.3.6 Electric Vehicle Charging
6.3.8 Market Size Estimations & Forecasts (2021-2026)
6.3.9 Y-o-Y Growth Rate Analysis
6.3.10 Market Attractiveness Index
6.4 Wireless Power Transmission Market, By Transmitter Application
6.4.1 Standalone Chargers
6.4.2 Automotive (In-Vehicle)
6.4.3 Electric Vehicle Charging
6.4.6 Market Size Estimations & Forecasts (2021-2026)
6.4.7 Y-o-Y Growth Rate Analysis
6.4.8 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2021 - 2026)
7.2.1 By Country
7.2.2 By Technology
7.2.3 By Implementation
7.2.4 By Receiver Application
7.2.5 By Transmitter Application
7.3.1 By Country
126.96.36.199 Rest of Europe
7.3.2 By Technology
7.3.3 By Implementation
7.3.4 By Receiver Application
7.3.5 By Transmitter Application
7.4 Asia Pacific
7.4.1 By Country
188.8.131.52 South Korea
184.108.40.206 South East Asia
220.127.116.11 Australia & NZ
18.104.22.168 Rest of Asia-Pacific
7.4.2 By Technology
7.4.3 By Implementation
7.4.4 By Receiver Application
7.4.5 By Transmitter Application
7.5 Latin America
7.5.1 By Country
22.214.171.124 Rest of Latin America
7.5.2 By Technology
7.5.3 By Implementation
7.5.4 By Receiver Application
7.5.5 By Transmitter Application
7.6 Middle East and Africa
7.6.1 By Country
126.96.36.199 Middle East
7.6.2 By Technology
7.6.3 By Implementation
7.6.4 By Receiver Application
7.6.5 By Transmitter Application
8. Key Player Analysis
8.1 Texas Instruments, Inc.Qualcomm, Inc.
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Integrated Device Technology, Inc.
8.3 Semtech Corp
"8.4 Toshiba Corp.
8.5 Panasonic Corp.
8.6 Rohm Co., Ltd.
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures