Rising adoption of wireless power transmission in consumer electronics is a key factor driving wireless power transmission market revenue growth
Market Size – USD 6.53 Billion in 2021, Market Growth – at a CAGR of 21.1%, Market Trends – Increasing trend of using wireless power transmission in commercial drones
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.
The report also assesses the current market scenario of the Wireless Power Transmission business sector with regard to the impact of the COVID-19 pandemic on the market. The report is furnished with the current details and changes in the demand and trends relating to the COVID-19 crisis. The pandemic has brought dynamic changes in the major segments of the market. The report covers the present and future impact of the COVID-19 crisis and offers insights into the post-COVID-19 economic scenario.
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Leading Players Analyzed in the Report are:
Some major companies in the global market report include 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, and Analog Devices Inc.
Key manufacturers and vendors are profiled extensively, including their product portfolios, production capacity, gross margins, revenues, and costing. The report also includes SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis. The report also provides profiles of key competitive players and their strategies and operating procedures. The report further provides insights into the opportunities and threats that the industry may witness in the upcoming years, throughout the forecast period.
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.
The report also consists of an evaluation of key market trends, in-depth analysis of key segments and sub-market categorization on a regional and global scale.
Segmentation of wireless power transmission market :
- Technology Outlook (Revenue, USD Billion; 2019-2030)
- Far-Field Technology
- Capacitive Coupling
- Magnetic Resonance
- Transmitter Application Outlook (Revenue, USD Billion; 2019-2030)
- Standalone Chargers
- Electric Vehicle Charging
- Industrial Charging Solutions
- Implementation Outlook (Revenue, USD Billion; 2019-2030)
- End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Consumer Electronics
- Wearable Electronics
The study further focuses on an in-depth analysis of the market growth in the key geographical regions of the world. The comprehensive study includes the following geographical regions: North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The regions and their subsequent countries are analyzed for a detailed understanding of the market.
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key points covered in the report:
- A detailed outlook of the market with essential data beneficial for business
- Market segmentation based on product types, applications, and end-users. For further understanding, the key segments are further divided into sub-segments
- Growth factors, driving and restraining factors, product trends, and technological advancements are extensively discussed
- Latest product developments, incorporation of new techniques and profiles of major competitors
- An 8-year forecast estimation detailing the growth and expansion scope of the Wireless Power Transmission market
- In-depth analysis of the historical years (2017-2018) and forecast period (2020-2027)
- Market dynamics with information of players, challenges, restraints, threats, and opportunities
- SWOT analysis and Porter’s Five Forces analysis of the top vendors
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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