ID: MRFR/SEM/6708-HCR | 111 Pages | Author: Aarti Dhapte | November 2023
The Rectenna Market is expected to grow at USD 2.76 billion by 2030, at 6.53% of CAGR between 2022 and 2030.
$2.76 Billion
6.53%
Asia-Pacific
2022-2030
Rectennas are the combination of rectifiers and antennas which are capable of converting electromagnetic waves, solar radiation, and significant forms of energy into electrical signals, which are utilized to power smart devices and other applications. In recent years, the demand for the rectennas are increasing very rapidly owing to the ongoing research in developing the configuration and other adapting facilities. The expansion of crucial applications such as automotive, wireless communication, radar communication systems, charging systems electrical vehicles are impacting the overall growth of the Rectenna market. The Rectenna market value was at USD 325.4 million in 2018 and is expected to grow at a CAGR of 6.53% by 2030
The growing utilization of smart devices in every aspect of life has stimulated the need for longer battery life and convenient charging solutions. Since Rectennas have the capability of performing wireless charging and transmitting the signals in the smart devices, the demand for the rectennas is rapidly increasing.
The COVID 19 pandemic has affected manufacturing and logistics severely across several industrial sectors. The prolonged lockdown and the reduced manpower in the manufacturing sectors have also negatively impacted the end-user industries of the Rectenna industry. However, the governmental organizations and the commercial sectors were deploying the contactless solution to carry out the essential operations and payments. Therefore the demand for contactless payment was rapidly increasing, as this way of payment reduces the risk of getting affected.
The intensive deployment of the Rectennas in the contactless payment cards, smart cards, which are powered by the rectenna element, which are capable of reading the data by powering up the IC have influenced the Rectenna market growth positively.
The Rectenna market growth is highly influenced by the advancing technologies in consumer electronics which includes laptops, smartphones, tablets, and other smart devices. They are utilized in smart devices for wireless charging and signal transmission simultaneously. Therefore the requirement for the different components has been reduced, which thereby reduces the costs for manufacturing varied components. Such factors are driving the overall growth of the Rectenna industry in recent times.
Some of the key growth stimulating factors include tremendous growth in cellular wireless communications and the advent of new technologies in the market which include, printed rectennas for the data transmission from the objects to smart devices are considered as major drivers of the Rectenna industry. Therefore the Rectenna market is expected to have steady growth during the forecast period, as the government regulations due to COVID 19 are gradually reducing.
The varied applications for the Rectenna industry which includes wireless power transmission, RFID, proximity cards, Contactless cards, energy harvesting, and significant others are emerging with novel technologies that are presenting lucrative opportunities for the overall growth of the Rectenna market.
The intensive usage of smart devices across the globe has increased the requirement of long battery life. Moreover, the Rectenna is capable of eliminating the charging cables and power adapters. The increasing deployment of microwave power transfer systems in smart devices is presenting lucrative opportunities for the Rectenna industry growth.
The manufacturing costs of certain types of rectennas and the lack of awareness across some regions are restraining the overall growth of the Rectenna industry. Other types of rectennas are less complex than the optical rectennas, as the compact form of optical rectennas requires nanotechnology fabrication procedures which are considered as the major challenge in the Rectenna market growth.
The antennas with the limited capturing area and the requirement of several antennas to capture more energy increase the manufacturing costs are expected to hinder the Rectenna market growth.
In the Optical rectennas, the process of producing the electron beam is comparatively slower and expensive. Such factors are considered as the major challenge in the manufacturing of these types of rectennas and bringing in advancements.
The drawbacks of the end-user applications such as RFID tags, which includes, privacy and security concern attached to the RFID tags, and the significant governmental regulations imposed on the operation of the RFID tags are affecting the overall growth of the Rectenna industry.
The Optical antennas are capable of eliminating the crucial diode and the other components, thereby making it cheaper than photovoltaics. Therefore the Rectennas are gradually replacing Photovoltaics because of the material processing and selection of materials. This factor presents a lucrative growth opportunity for the Rectenna industry. The rectennas are popularly called rectifying antenna which converts the AC electromagnetic waves into DC electricity, thereby potentially used in charging the smart devices. The receiving electromagnetic waves are traveled into these semiconductors and are efficiently transformed into DC voltage, which is then used to recharge batteries. The increasing demand for battery life and continuous usage of smart devices for varied purposes and sectors are fuelling the Rectenna market growth. The Global Rectenna Industry value was at USD 325.4 million in the year 2018 and it is expected to grow at a CAGR of 6.53% during the forecast period 2022-2030 .
The Wireless power transmission segment in the Rectenna market is expected to bolster during the forecast period. As the wireless charging of devices includes the advantages such as reducing the manufacturing costs of the chargers, saving electricity, smart devices can be charged anywhere without the need for power sockets or electricity, extremely lower risk of getting electrical shock as there are no exposed conductors, saving time and improved convenience. Such factors are presenting lucrative opportunities for the manufacturers to deploy Rectennas in smartphones and other smart devices. Moreover, the declining manufacturing costs and materials costs are also impacting the overall growth of the Rectenna market. The rectennas are intensively utilized in crucial applications such as smart buildings, automotive, medical devices, and other IoT-based applications where the requirement of remote charging is higher. The advancing technologies in the industrial sectors and IT sectors have presented opportunities for growth in these applications.
The Asia-pacific region is expected to lead the Rectenna market share during the forecast period, owing to the numerous advancements in the market across the region. Especially, the leading manufacturers of rectenna are present in countries like China, Japan, and South Korea. Moreover, the stimulating growth of consumer electronics across the region presents a lucrative opportunity for the overall growth of the Rectenna market.
On the other hand, North America is expected to hold the second-largest market share in the Rectenna market. The economic condition of the US and its inclination towards investing in the Rectenna market growth and the manufacturing processes are considered as key growth stimulating factors for the Rectenna market. The US holds over 70% of the market share and is expected to have healthy growth during the forecast period for the reasons mentioned.
The printed rectennas which are printed onto the objects using electronic inks are developed by researchers in Korea which are considered the cheapest way of transmitting data from objects to mobile phones. These rectennas utilize the radio waves that are transmitted from smartphones for transmitting the data. The technology utilized in these printed rectennas is already used in touch card payments, near field communication. More importantly, these printed Rectennas are cost-efficient alternatives for QR codes.
In the year 2018, one of the leading market players, Antenova Ltd. has launched M20047-1 which is a beneficiary for the compact structure and therefore it can be easily integrated with the tracking devices. This Active GNSS antenna comes with the full antenna and front end.
This report has covered:
Report Attribute/Metric | Details |
---|---|
Market Size 2030 | USD 2.76 Billion |
CAGR | 6.53% (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type, Application, Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Murata Manufacturing Co. Ltd (Japan) ,CoolCAD Electronics LLC (US) ,Nihon Dengyo Kosaku Co Ltd (China) ,Allis Communications (US) ,Antenova Ltd (UK) ,API Technologies Corporation (US) ,Ducommun Incorporated (US) ,AVX Antenna Inc (US) ,AH Systems Inc (US) ,AR RF/Microwave Instrumentation (US) ,FURUNO Electric Co. Ltd (Japan) |
Key Market Opportunities | The intensive usage of smart devices across the globe has increased the requirement of long battery life. |
Key Market Drivers | The Rectenna market is expected to have steady growth during the forecast period.The Rectenna market growth is highly influenced by the advancing technologies. |
By type, the segments of the rectenna market profiled are Radio Frequency (RF) rectenna and optical rectenn
By application, the segments of the rectenna market profiled are wireless power transmission, RFID, contactless cards, proximity cards, and energy harvesting.
The rectenna market is projected to expand at 6.53% CAGR.
North America, Europe, Asia-Pacific, and the Rest of the World are assessed for the assessment of the rectenna market.
China, Japan, and South Korea are the key countries of the APAC rectenna market.
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