According to the latest report by IMARC Group, titled “Wireless Power Transmission Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global wireless power transmission market reached a value of US$ 10.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 53 Billion by 2027, exhibiting at a CAGR of 30.5% during 2022-2027.
Wireless power transmission (WPT) is the technology that enables the transferring of electrical energy from a power source to a device without the requirement of wires as a physical link. WPT uses microwaves, solar cells and resonance to transmit time-varying electromagnetic field from the source to the receiver device. The transmitter coil is powered by alternating current (AC), which generates the magnetic field that further induces a voltage in the receiver coil. The elimination of interconnecting wires consequently improves the mobility and safety of electronic devices for users.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Wireless Power Transmission Market Trends:
The market is primarily driven by the increasing uptake of consumer electronics on the global level. This, along with the growing awareness regarding the benefits offered by WPT technology among the masses, has contributed to the escalating demand for effective and low-maintenance wireless charging systems for laptops, smartphones and digital cameras. The WPT technology is also being utilized in the robotics and defense sectors to be used in the hassle-free operations of robots and drones. The market is further driven by the rising demand for smart charging systems for electric vehicles (EVs). EVs that are integrated with in-motion (dynamic) and inductive WPT charging systems require the use of smaller batteries that aid in reducing carbon emissions and improving the overall efficiency of automobiles. Facilitated by an enhanced focus on sustainable development, this is expected to provide an impetus to market growth.
Furthermore, governments of numerous countries are heavily investing in the adoption of WPT technology for improving their existing power distribution systems. The employment of the technology is expected to reduce the overall costs of electricity transmission across the globe significantly. This, coupled with the rising installation of WPT-based smart grids, is anticipated to create a positive outlook for the market.
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Global Wireless Power Transmission Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
Breakup by Type:
Breakup by Technology:
Breakup by Implementation:
Breakup by Receiver Application:
Breakup by End-Use Industry:
Breakup by Region:
Key Highlights of the Report:
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.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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