Global Wireless Power Transmission (WPT) Market Size to Reach USD 36.29 Billion in 2030 | Emergen Research

Rising adoption of wireless power transmission in consumer electronics is a key factor driving wireless power transmission market revenue growth

Vancouver, Sept. 20, 2023 (GLOBE NEWSWIRE) — The global Wireless Power Transmission (WPT) market size reached USD 6.53 Billion in 2021 and is expected to register a revenue CAGR of 21.1% during the forecast period, according to latest analysis by Emergen Research. Rising adoption of wireless power transmission in consumer electronics is the key factor driving market revenue growth.

Wireless Power Transmission (WPT) market will entail contactless charging of portable and mobile devices, particularly in consumer electronics. Rising demand for consumer electronics especially smartphones, tablets, and wearable devices across the globe creates high demand for wireless power transmission technology. Majority of consumer electronics that need to be charged or constantly powered are connected to wall by cords. In addition, wireless power technology enables customers to charge and power consumer electrical gadgets while maintaining an aesthetic and cable-free setting.

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Rising adoption of WPT technology in electronics devices prompts manufacturers to introduce advanced technologies in the market. For instance, in June 2022, Panthronics AG, which is an Austria-based semiconductor company announced to launch fully integrated NFC wireless charging listener device PTX30W. It receives power wirelessly, eliminating the need for a microprocessor in listener device. It also offers significant space savings and enhanced design freedom to smartwatches, hearing aids, fitness trackers, smart rings, and many electronic devices.

In addition, rising trend of using power transmission in commercial drones is expected to support revenue growth of the market. Unmanned Aerial Vehicles (UAVs) or commercial drones have developed and are now deployed in various industries such as aerial photography, military, and transportation. However, their operation is limited due to limited battery life. UAVs can be outfitted with a variety of payloads including cameras, sensors, and positioning devices. These loads are frequently powered by high-energy density lithium batteries, which have a limited lifespan of 20–40 minutes. Wireless charging has been proposed as a viable UAV solution. Ossia Inc., a U.S based wireless power technology provider already launched wireless power devices for smartphones, tablets, and other electronic devices. Its patented Cota Real Wireless Power transmitter distributes electricity in the same way that Wi-Fi signals do. The company is planning and working to modify Cota can also remotely power drone flights.

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Scope of Research

Major Companies and Competitive Landscape

The global wireless power transmission market is fairly consolidated with a few large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective wireless power transmission solutions. Some of the major companies included in the global wireless power transmission market report are:

• Qualcomm Inc.
• Texas Instruments Inc.
• WiTricity Corporation
• NuCurrent Inc.
• Samsung Electronics Co., Ltd.
• TDK Corporation
• NXP Semiconductors N.V.
• Powermat Technologies Ltd.
• Semtech Corporation
• WiTricity Corporation
• Energous Corporation
• Analog Devices Inc.

Strategic Development

• On 14 September 2021, NuCurrent, a U.S based wireless charging technology solution provider and American Technology Components Inc. established a collaboration that would combine NuCurrent’s excellent wireless charging technologies with ATC’s knowledge and quality in manufacturing electronic subsystems. The collaboration signifies revolutionary innovation in new product categories such as RV, marine, and boating.
• On 25 February 2019, Qualcomm Technologies, an American semiconductor company, launched Qualcomm Quick ChargeTM technology for wireless power. This is rapid charging development initiative in the wireless charging industry and assists consumers in quickly, safely, and wirelessly charging their devices.

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Some Key Highlights from the Report

• The far-field technology segment is expected to increase at a steady rate over the forecast period due to rising initiatives taken by government to promote Far-field technology. In November 2021, the U.S. Federal Communication Commission (FCC) approved Energous Corporation’s unlimited distance Over-The-Air (OTA) wireless charging. The U.S. certification will enable extension of wireless power transfer solutions at any distance, particularly for internet of things devices.
• The industrial charging solution segment is expected to increase at a steady rate over the forecast period due to rising adoption of WPT technologies in industrial charging solutions. WAP technology is highly useful in various industrial applications such as factory automation, handheld terminals, drones, and others.
• The Asia Pacific market accounted for largest revenue share in the global wireless power transmission market in 2021 due to rising adoption of electronics devices in countries across the region, especially in China, Japan, and India. According to China Academy of Information and Communications Technology (CAICT), total shipment of 5G mobile phones in China was 266 million units in 2021, which creates high demand for WPT solutions in this country. In addition, rising adoption of WPT solutions in electric vehicles in the region is expected to support revenue growth of the market.

• On 9 June 2022, Siemens invested USD 25 million in WiTricity, which is a wireless charging technology startup based in the U.S. Siemens and WiTricity will collaborate to drive innovation in the expanding wireless EV charging industry. Siemens is also a technology license partner, leveraging WiTricity’s extensive knowledge and decade-long engagement with major automobile OEMs to produce field-tested wireless charging systems.

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Emergen Research has segmented the global wireless power transmission market based on technology, transmitter application, implementation, end-use, and region:

• Technology Outlook (Revenue, USD Billion; 2019-2030)

• • Far-Field Technology

• • • Microwave/RF
    • Laser/Infrared

• • Near-Field Technology

• • • Inductive
    • Capacitive Coupling
    • Magnetic Resonance

• Transmitter Application Outlook (Revenue, USD Billion; 2019-2030)

• • Standalone Chargers
  • Electric Vehicle Charging
  • Industrial Charging Solutions
  • Others

• Implementation Outlook (Revenue, USD Billion; 2019-2030)

• • Integrated
  • Aftermarket

• End-Use Outlook (Revenue, USD Billion; 2019-2030)

• • Consumer Electronics

• • • Smartphones
    • Tablets
    • Wearable Electronics
    • Notebooks

• • Automotive
  • Industrial
  • Defense
  • Healthcare
  • Others

• Regional Outlook (Revenue, USD Billion; 2019–2030)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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