Global Wireless Power Transmission Market Research Report- Forecast 2030

Wireless Power Transmission Market, By Technology (Inductive, Magnetic Resonance, Conductive, RF, Infrared), By Receiver (Smartphones, Tablets, Wearable Electronics, Notebook), By Transmitter (Standalone charger, Electric vehicle charging, Industrial) - Forecast 2030

ID: MRFR/SEM/1725-HCR | February 2023 | Region: Global | 100 Pages         

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Wireless Power Transmission Market

Wireless Power Transmission Market is to thrive at CAGR of 20.40% during the forecast period 2022-2030.

Segmentation
By Technology Inductive Magnetic Resonance Conductive RF Infrared
By Receiver Smartphones Tablets Wearable Electronics Notebook
Key Players
Companies Profiled   United States    Wi-Charge Ltd of Israel    Energous Corporation of the United States    Humarvous Ltd of the United States    Fulton Innovation LLC    Qualcomm Inc. of the United States    Semtech Corporation of the United States    Toshiba Corporation of Japan and Texas Instruments Inc
Drivers
Market Driving Forces   Rise in the growth of consumer wireless electronics    Adopting the loT and the advanced use of the internet    The need to transfer the power to distant
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Wireless Power Transmission Market Overview

The power source transmits electromagnetic energy to an electric load with no wires in a system; that process is known as wireless power transmission. The wireless communication transmits power to remote locations. It carries a great demand in consumer electronics, such as tablets, laptops, smartphones, and other devices. A large wireless transmission market share area comes under the North American region. It is predicted to prosper at an exponential CAGR of 20.40% during the estimated period from 2022 to 2030. The market valuation worldwide is composed to reach USD 28.9 Billion by the end of 2030, but in the European region, some places tend to grow faster in the estimated period of 2022-2030.


The factors like the rising application of wireless power transmission in consumer electronics and the increase in the need for battery-powered equipment are the key drivers of the growth of the wireless power transmission market. However, the current developments in the long-range wireless power transmission fuel the market growth. Though, the high cost linked with wireless power transmission technology hinders the market's growth during the estimated period. In contrast, integrating wireless charging with electric vehicle charging applications is predicted to create profitable opportunities for the wireless power transmission market.


The outbreak of covid-19 has negatively impacted the wireless transmission market worldwide. The production facilities of semiconductors and electronics have been stopped due to the unavailability of labour and strict regulation of government globally. Covid has caused a significant drop in production and bans on transportation; due to strict rules, labour was not allowed to work in factories, and the shutdown of industries are the factors that have decreased the growth of the wireless transmission market in 2020.


COVID 19 ANALYSIS


Advanced technology has helped in the robust development of the market. The outbreak of COVID has had a negative impact on the economic conditions of the wireless power transmission market throughout the world. The launching of labor-savings techniques was hindered. Regular complaints were marked in consumer demand and more change in consumer behavior was marked. Wireless power of low battery conditions along with low security and non-ability was marked. The out team of the pandemic has helped to increase the demand for using more of the latest wireless technology. To fulfill the needs and demands, the government took safety steps for the production of the equipment and devices.


MARKET DYNAMICS



  • Drivers


The wireless power transmission market is highly benefitted to the end-users or extending the longevity of the battery, consuming less energy and many more is driving the wireless power transmission market. Increase in expansion in consumer electronics in emerging countries like in South Korean regions and some of the Japanese regions and the willingness for using battery-powered devices which helps in increasing the wireless power transmission market growth. The wireless power transfer market has shown its developments in the wireless charging unit as several initiatives have been developed based on laser and microwave technology.



  • Opportunities


The ability of the wireless types of equipment or using the devices having strong electromagnetic power helps in wireless power transmission market size. The rise in the inefficiency of the equipment increases the chances of the wireless power transmission market. Incorporation of solar energy for wireless power transfer and wireless transmission. Many vehicular industries like Nissan, Honda, and many more give priority to the electrically charged vehicles thus increasing the expansion of the market size.



  • Challenges


The most challenging factor is the growth of the market for the user’s electronics wireless devices. But it has been marked that wireless technology has faced certain limitations. This limitation acts as a major drawback to the manufacturers. The devices being less efficient and less safe are very much harmful to the environment. The most challenging factor is the initiative taken by the wireless power transmission companies which launch certain wireless products.



  • Cumulative Growth


Rise in the growth of consumer wireless electronics in the regions of Japan, Russia, and South Korea shows the area covered by them. During the outbreak, the wireless power transmission companies showed market expansion where the wireless globally helped in virtual learning. Adopting the IoT and the advanced use of the internet is nowadays very much helpful in the growth of the wireless power transmission market. Thus transmission technology has reformed so much and has made the consumers interact with these devices. The need to transfer the power to distant places is the driving factor of the wireless power transmission market.



  • Restraints


High expenses of the transmission technology and wireless electricity technology is the major restraining factor for the growth of the wireless power transmission market. Lack of infrastructure of the wireless pieces of equipment act as a restraining factor for the expansion of wireless power transmission market size. If in case the types of equipment have any queries, then market growth is simply hindered. The devices which are not certified by the government, and which have no standards hinder the wireless power transmission market growth.


Market Segmentation



  • By Type


Based on type, it has been marked that the wireless power transmission industry is classified into with battery segment and without battery segment. Along with this division, the segment has been marked about the division into short-range and long-range parameters. The wireless power transmission market, based on technology, is classified into near-field technology and far-field technology. The wireless power transmission market based on application is divided into the wireless industry, automotive, defense, healthcare unit, and consumer electronics. Here, the defense unit is in high use because of the countering actions of global tourism units. Based on geography, the wireless power transmission market is classified into the regions of North America, Asia Pacific, and the rest of the world. Asian regions cover the highest market share as here you can mark more opportunities which help in the growth of the wireless power transmission market.



  • By Technology


Due to advances in technology, wireless power transfer has become more convenient and accessible and has made wireless devices safer. With the development of wireless power transmission technology, inductive coupling has gained importance in the wireless power transmission market. This radiative technique helps in long-distance wireless power transfer. Advanced batteries have been developed and have been used in the market. This technology has been used in the defense and healthcare sectors. Nowadays this technology is also implemented in solar power satellites and wireless aircraft.



  • Value Chain Analysis


The continuously developing supply chain has given insights into the wireless power transmission market players. Experts have the technological framework and have evaluated the supply chain frameworks. This supply chain makes you confident and helps in building different business strategies to succeed in a competitive advantage.


Regional Analysis


North America holds the largest and dominant part of the world. The North American region covers a large area of the long-range wireless power transmission market and its projects at a high percentage of the market during the forecast period. Some of the European regions grow at high speed during the forecast period of 2022-2030. This was the early region where the use of technology and power transmission was implemented. Some of the markets in Europe have taken the fabrics and some of the wireless contracts. Regionally, it has been marked that the United States is covering a large area due to it investing a huge sum for technology. The installation of a wireless power transmitter and receiver is carried out at a very cheap rate.


Competitive Landscape


Wireless power transmission companies have used innovative ideas and taken the help of advanced technology. Some of the important market players operating in the wireless power transmission market are Ossia Inc. of the United States, Wi-Charge Ltd of Israel, Energous Corporation of the United States, Humarvous Ltd of the United States, Fulton Innovation LLC, Qualcomm Inc. of the United States, Semtech Corporation of the United States, Toshiba Corporation of Japan and Texas Instruments Inc, Integrated device Technology of the United States and many more. These wireless power transmission companies focus on making their portfolio and try to reach the top. They believe in building partnerships, mergers, and acquisitions with other companies.


Recent Developments


April 2022


Energous Corporation, a leading developer of RF-based wireless power networks, has announced its 1W power bridge transmitter technology, which has received approval from the Ministry of Industry and information technology in China.


Report Overview


The report gives a piece of holistic information about the market. It also analyzes the key segments are done in the market, the market trends that have a great impact on wireless electricity technology and wireless power transmission technology. It signifies the market players operating in the market who play a substantial role in fulfilling the needs. It provides in-depth analysis about the value chain analysis and gives information about the growth opportunities of the market. It gives details about the current as well as the future outlook of the wireless power transmission market scenario.



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 28.9 Billion
  CAGR   20.40%
  Base Year   2020
  Forecast Period   2022-2030
  Historical Data   2019
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Technology, Receiver
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   United States, Wi-Charge Ltd of Israel, Energous Corporation of the United States, Humarvous Ltd of the United States, Fulton Innovation LLC, Qualcomm Inc. of the United States, Semtech Corporation of the United States, Toshiba Corporation of Japan and Texas Instruments Inc,
  Key Market Opportunities   The rise in the inefficiency of the equipment increases the chances of the wireless power transmission market
  Key Market Drivers

  • Rise in the growth of consumer wireless electronics,
  • Adopting the loT and the advanced use of the internet,
  • The need to transfer the power to distant


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    Frequently Asked Questions (FAQ) :

    The wireless market is expected to grow at a CAGR of 20.40% in the forecast period of 2022-2030. Malaysia and Indonesia owe major portions in growth. The wireless power transmission industry has grown from USD 2.5 billion in 2022 to USD 28.9 Billion by 2030.

    The demand for the use of wireless connectivity motivates marketing dynamics. This technology has a widespread impact on commercialization. It is an available offering for personal communication and is also used for fast exchange of im\nformatio in an emergency. It is also used in remote areas where satellite communication is used. It is vitally used in video communication and for real-time text messaging. In business, sectors it is used to keep track of the company’s traveling activities. Bluetooth is a wireless usage where the exchange of data can be done. In the traveling industry, GPS is helpful to find an efficient route.

    A significant range of progress is shown depending on the functional category and in the case of energy technology depending on the technical approach of the industry. The progress rates have exceeded for various fields. An income level of USD 28.9 Billion has to be used by 2030.

    The crucial contestants in the market are Humavox Ltd (Israel), Energous Corporation (U.S.), Qualcomm Inc. (U.S.), Texas Instruments Inc. (U.S.), and Fulton Innovation LLC (U.S.) gardens up the market.

    The fall in installation costs affects the growth in the forecast period