Wireless Power Transmission Market

Wireless Power Transmission Market Overview

The wireless power transmission market size is projected to grow from USD 12.22 billion in 2024 to USD 83.8 billion by 2035, representing a CAGR of 19.12%, during the forecast period till 2035.

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Interestingly, one in five cars sold in 2023 was an electric car. The need for wireless power transmissions arises from their ability to operate effectively in diverse environmental conditions, making them essential across industries. Wireless power transmission operates primarily through electromagnetic induction, utilizing coils to generate magnetic fields that facilitate energy transfer over short distances. It is worth highlighting that wireless power transmission are favored for its ability to charge multiple devices simultaneously, flexibility in design, and reduced wear and tear on connectors, enhancing device longevity. Further, wireless power transmission market growth trends is fueled by rising demand in emerging economies, wireless technological advancements, and an increasing automotive demand for electric vehicles. Recently, Minyu Cai Technical Manager at Cummins mentioned we aim to create a wireless charging system for electric trucks that is faster, more affordable, and more compact than the current leading technologies.

The global wireless power transmission market is expected to grow significantly over the forecast period due to the significant technological advancements and usage across industries, such as consumer electronics, automobiles and industrial sectors. Additionally, one of the wireless power transmission product innovations and advancements include long-range wireless charging systems, which provide superior charging efficiency as compared to traditional wired power transmission. Additionally, the emergence of WattUp® technology, which enables unlimited wireless charging distances and supports simultaneous charging of multiple devices, is a crucial feature for the internet of things (IoT) applications. For example, in November 2024, the U.S. Army partnered with Raytheon to enhance battlefield logistics through directed energy technology. This collaboration aimed to improve wireless power transmission capabilities, enabling more efficient energy distribution in military operations.

Wireless Power Transmission Market Insights

The global wireless power transmission market research report presents an in-depth analysis of the various companies that are involved in offering wireless power transmission, across different segments, as defined in the table below:

Wireless Power Transmission Market: Report Attributes / Market Segmentations

Wireless Power Transmission Market Segmentation

Market Share by Type of Device

Based on the type of device, the global wireless power transmission market is split into devices with battery and devices without battery. Currently, according to our analysis, the devices with battery segment is augmenting the segment's growth with over 60% market share. Further, this segment is expected to grow with a relatively higher (21.85%) CAGR in the near future. This can be attributed to the increasing reliance on portable consumer electronics, such as smartphones, tablets, and wearable technologies, which benefit significantly from the convenience of wireless charging.

Market Share by Type of Technology

Based on the type of technology, the global wireless power transmission market is split into conductive, inductive, infrared, magnetic resonance and radiofrequency. Currently, according to our analysis the inductive charging systems segment is augmenting the segment's growth with over 40% of the market share. This can be ascribed to its widespread adoption in consumer electronics, such as smartphones and wearables, where convenience and efficiency are paramount. However, the radiofrequency segment is expected to grow with a relatively higher (19.94%) CAGR in the near future. This can be attributed to its ability to provide efficient power transfer over longer distances compared to other technologies. This capability is particularly advantageous for wireless power transmission applications in consumer electronics, electric vehicles charging solutions, and Internet of Things (IoT) devices.

Market Share by Type of Receiver

On the basis of the type of receiver, the wireless power transmission market is bifurcated into notebook, smartphones, tablets, wearable electronics and others. The smartphones segment is anticipated to dominate the segment with more than 35% of the market share in 2024. Further, this segment is expected to witness a relatively faster (20.85%) wireless power transmission market growth rate by 2035. This can be attributed to their widespread adoption of wireless charging technology, within the majority of smartphones now featuring this capability, enhancing user convenience and promoting a cable-free lifestyle.

Market Share by Type of Transmission Range

On the basis of the type of transmission range, the wireless power transmission market is bifurcated into long range, medium range and short range. The short-range segment is anticipated to dominate the segment with more than 40% of market share in 2024. Further, this segment is expected to witness a relatively faster (21.55%) wireless power transmission market growth rate by 2035. This can be attributed to its widespread adoption in consumer electronics, particularly smartphones and wearables, where convenience and efficiency are paramount.

Market Share by End-User Industries

On the basis of the end-user industries, the wireless power transmission market is bifurcated into automotive, consumer electronics, defense, healthcare, power generation and others. The consumer electronics segment is anticipated to dominate the segment with more than 60% of market share in 2024. Additionally, this segment is expected to witness a relatively faster wireless power transmission market growth rate (21.03%) until 2035. This can be ascribed to the rapid adoption of wireless charging technologies in everyday devices such as smartphones, smartwatches, and wireless earbuds.

Wireless Power Transmission Market by Region

This segment highlights the distribution of the market across various geographical regions such as North America, Europe, Asia, Latin America, Middle East, North Africa, and the rest of the world. According to our wireless power transmission market analysis, Asia exhibits dominance in the market with over 45% of the share. Further, North America is projected to grow with a relatively higher CAGR (20.86%) in the forecasted period. Primary reasons for this growth include the strong presence of major technology companies and innovative startups that are driving advancements in wireless charging technologies. Additionally, there is a high penetration of consumer electronics, with a significant number of smartphone users and early adopters of smart wearables, which fuels demand for convenient charging solutions.

Wireless Power Transmission Market Key Insights

The “Wireless Power Transmission Market, Till-2035: Industry Trends and Global Forecasts” report features an extensive study of the current market landscape, market size and future opportunity within wireless power transmission market, during the given forecast period. The market report highlights the efforts of several stakeholders involved in this rapidly emerging segment of the service providers industry. Key takeaways of the global wireless power transmission market report are briefly discussed below.

Key Drivers of Wireless Power Transmission Market

An increasing demand for wireless charging is majorly driving the wireless power transmission industry. Few of major driving factors include the increasing adoption of consumer electronics, wearables and the rising demand for efficient charging solutions. Moreover, rapid industrialization and infrastructure development in emerging economies, such as India, China and Japan are fueling the market growth. Additionally, technological advancements in wireless power transmission, with supportive government initiatives promoting electric vehicle infrastructure and smart technologies have further propelled market growth. Recently, in June 2024, Aquila secured $3 million to advance its wireless power transmission technology, aiming to create a dynamic energy network.

Wireless Power Transmission Competitive Landscape

With the presence of several small and large wireless power transmission companies, the market is experiencing intense competition and changing market dynamics. From large multinational companies to local wireless energy transmission players, companies are striving to enhance their competitive edge. In terms of market share, large enterprises and multinational companies are dominating the market. While small wireless power transmission players are continuously improving their products to cater to niche markets, or they are offering specialized services. These industry players are focusing on adopting competitive strategies, such as developing innovative solution techniques, forming strategic alliances and partnerships to expand their portfolios and global footprint, investing in recent developments and new feature launches to enhance their wireless power transmission offerings.

Challenges in Wireless Power Transmission Efficiency

Despite strong market growth projection, the wireless power transmission market faces numerous challenges. The most common challenge is high initial costs due to significant R&D investments, efficiency issues due to energy loss over distances, and limited range of current technologies. Additionally, interoperability problems arise from a lack of established standards, while safety concerns regarding electromagnetic field transfer and regulatory hurdles further complicate adoption. It is worth mentioning that some of the other challenges include limited consumer awareness and strong competition by well established system of wired power solution.

Regional Analysis: Asia is Expected to Dominate the Market with the Largest Wireless Power Transmission Market Share

Asia currently holds a substantial share of approximately 45% in the wireless power transmission market opportunities. This can be attributed to several factors including strong manufacturing base for consumer electronics, significant investments in electric vehicle infrastructure, and a rapidly growing demand for wireless charging solutions across various sectors in countries like India and China. Notably, substantial investments in research and development, leading to the creation of superior wireless power technology is one of the major governing reasons for growth in this region.

Leading Wireless Power Transmission Manufacturers

Examples of key player involved in the wireless power transmission market (which have also been captured in this market report, arranged in alphabetical order) DEYUAN, Energous, LG Electronics, Murata Manufacturing, NXP Semiconductors, Panasonic, Powercast, Qualcomm, Renesas Electronics, Rezence, Samsung Electronics, Sony, Texas Instruments, Toshiba, Wi-Charge and WiTricity. This market report includes an easily searchable excel database of all the companies who have adopted the wireless power transmission market.

Recent Developments in Wireless Power Transmission

• In October 2024, Infineon Technologies partnered with AWL-Electricity to enhance wireless power transmission using Infineon's CoolGaN technology. This collaboration aimed to achieve high efficiency and power density in wireless power solutions.
• In May 2024, Quaze Technologies partnered with Rheinmetall Canada to advance the Drone Swarm Tactical OverWatch (DSTOW) by integrating wireless power transfer technology into uncrewed ground systems.
• In March 2024, Purdue researchers collaborated with Cummins and others to develop a wireless charging system for heavy-duty electric vehicles, funded by a $5 million grant from the U.S. Department of Energy.

Wireless Power Transmission Market Report Coverage

The market report presents an in-depth analysis, highlighting the capabilities of various companies engaged in this domain, across different segments. Amongst other elements, the market report includes:

• A preface providing an introduction to the full report, wireless power transmission market, 2019-2023 (Historical Trends) and till-2035 (Forecasted Estimates).
• An outline of the systematic research methodology adopted to conduct the study on the wireless power transmission market, providing insights on the various assumptions, methodologies, and quality control measures employed to ensure the accuracy and reliability of our findings.
• An overview of economic factors that impact the overall wireless power transmission market, including historical global wireless power transmission market trends, currency fluctuation, foreign exchange impact, recession, and inflation measurement.
• An executive summary of the insights captured during our research. It offers a high-level view on the current state of the wireless power transmission market and their likely evolution in the mid-long term.
• A detailed assessment of the wireless power transmission market landscape, based on several relevant parameters, including years of experience, company size, location of headquarters, and ownership structure.
• Elaborate profiles of prominent players engaged in the wireless power transmission market, featuring information on their year of establishment, location of headquarters, company size, company mission, company footprint, management team, contact details, financial information, operating business segments, wireless power transmission portfolio, moat analysis, recent developments, and an informed future outlook.
• A qualitative assessment of the various megatrends ongoing in the wireless power transmission industry, including the increasing demand for electronics devices, research and development focus, and the evolving regulatory guidelines.
• An analysis highlighting the key unmet needs across wireless power transmission industry, featuring insights generated from real-time data on unmet needs as identified from social media posts, recent publications, industry blogs and the views of key opinion leaders expressed on online platforms.
• An in-depth analysis of various patents that have been filed / granted related to wireless power transmission and its components, based on various parameters, such as type of patent, patent publication year, patent age and leading players
• A detailed analysis of recent developments in the wireless power transmission domain, based on relevant parameters such as year of initiative, type of initiative (partnerships and collaborations, expansions, funding and product launches), geographical distribution and most active players (in terms of number of recent developments).
• Key winning strategies framework that helps in analyzing the level of competition within an industry, by tracing the key market activities including partnership, funding, expansion of leading players
• A qualitative analysis, highlighting the five competitive forces prevalent in wireless power transmission industry, including threats for new entrants, bargaining power of suppliers, bargaining power of customers, threats of substitution and rivalry among existing competitors.
• A discussion on affiliated global wireless power transmission price trends, key drivers and challenges, under a SWOT framework, which are likely to impact the industry’s evolution, along with a Harvey ball analysis, highlighting the relative effect of each SWOT parameter on the overall wireless power transmission market.
• A value chain analysis featuring a discussion on various stakeholders involved in the development of the wireless power transmission market, from wireless power transmission suppliers to end-users.
• A detailed estimate of the current wireless power transmission market size and share of the future growth potential of the market over the next decade. Based on multiple parameters we have provided an informed estimate on the market evolution during the forecast period 2024-2035. The report also features the likely distribution of the current and forecasted opportunity within the wireless power transmission market. Further, in order to account for future uncertainties and to add robustness to our model, we have provided three forecast scenarios, namely conservative, base, and optimistic scenarios, representing different tracks of the industry’s growth.
• Detailed projections of the current and future market across various type of device such as devices with battery and devices without battery.
• Detailed projections of the current and future market across various type of technology such as conductive, inductive, infrared, magnetic resonance and radiofrequency.
• Detailed projections of the current and future market across various type of receiver such as notebook, smartphones, tablets, wearable electronics and others.
• Detailed projections of the current and future market across various type of transmission range such as long range, medium range and short range.
• Detailed projections of the current and future market across various end-user industry such as automotive, consumer electronics, defense, healthcare, power generation and others.
• Detailed projections of the current and future wireless power transmission market across various geographical regions, such as North America (US, Canada, Mexico and other North American countries), Europe (Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Netherlands, Norway, Russia, Spain, Sweden, Switzerland, UK and other European countries), Asia (China, India, Japan, Singapore, South Korea and other Asian countries), Middle East and North Africa (Egypt, Iran, Iraq, Israel, Kuwait, Saudi Arabia, UAE and other MENA countries), Latin America (Brazil, Chile, Colombia, Venezuela and other Latin American countries) and rest of the world (Australia, New Zealand and other countries).

Author: Ronit Sharma and Rishav Thakur

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