Wireless Power Transmission Market to Hit USD 49.85 Billion by 2030 at a CAGR of 12.3 percent

Maximize Market Research has published a detailed analytical report on the Wireless Power Transmission Market.

PUNE, India, Aug. 26, 2024 /PRNewswire/ -- The future of energy is set to be transformed by the Wireless Power Transmission Market. As industries increasingly adopt wireless charging, from electric vehicles to consumer electronics, the demand for seamless and efficient power transfer is increasing rapidly. Major players are accelerating their investments in research, development, and strategic partnerships, aiming to perfect this transformative technology. The race to dominate the Wireless Power Transmission Market is intensifying, promising groundbreaking innovations that redefine how power is transmitted globally. This shift enhances convenience and drives sustainability, positioning wireless power transmission as a cornerstone of future technological advancements.

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Wireless Power Transmission Market: Driving Innovation and Convenience in the Cable-Free Era

The Wireless Power Transmission (WPT) Market is advancing rapidly as new charging technologies emerge and consumers increasingly prioritize convenience. Inductive and resonant charging technologies drive this growth. According to MMR Report in the smartphone sector, wireless charging adoption is expected to surpass 1.2 billion units by 2026. The electric vehicle market also shows significant expansion, with the wireless charging segment expected to grow from $21 million in 2021 to $1.8 billion by 2028. Innovations such as magnetic resonance coupling and radio frequency (RF) charging enhance efficiency and range, enabling broader applications. As more consumers embrace a cable-free lifestyle, the WPT market stands poised for substantial growth, driven by the demand for efficient, convenient, and durable power solutions in a highly connected world.

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Wireless Power Transmission Market: Segmentation 

The global Wireless Power Transmission Market is segmented into Applications which are further segmented into Receiver and Transmitter. The receiver segment dominated the Application segment of the Wireless Power Transmission Market in the year 2023. Due to its crucial role in converting transmitted power into usable energy for various devices. This component's advancement enhances charging efficiency and convenience, driving its significant demand in consumer electronics, electric vehicles, and healthcare applications.

Wireless Power Transmission Market: Regional Analysis

The United States leading in adoption due to a strong push for sustainability and the convenience of wire-free solutions. According to recent reports of MMR, over 60% of households in the United States have adopted wireless technology solutions. This trend is particularly strong in urban areas, where adoption rates are even higher, reaching up to 75%. The drive towards sustainability has also led to a 40% increase in the installation of eco-friendly wireless systems over the past five years. Businesses are rapidly integrating wireless power into consumer and commercial electronics, with expectations that it will soon become a mandatory feature.

In Asia, rapid adoption is driven by large-scale technology integration and a focus on sustainability, making wireless power a key competitive advantage in the region's booming consumer electronics market.  Europe is steadily embracing wireless power, particularly in sectors such as retail, construction, and healthcare, as the demand for reducing reliance on wired networks grows. Wireless power transmission is expected to become a standard technology, transforming industries through the widespread adoption of battery-free, always-on devices.

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 Wireless Power Transmission Market: Segmentation 

By Technology

1. Near-Field Technologies
2. Far-Field Technologies

By Type

1. Devices with Battery
2. Devices without Battery

By Application

1. Receiver
2. Transmitter

Wireless Power Transmission Market Key Players in North America

1. Qualcomm Inc. (USA)
2. Energous Corporation (USA)
3. WiTricity Corporation (USA)
4. Fulton Innovation LLC (USA)
5. Ossia Inc. (USA)
6. Mojo Mobility, Inc. (USA)
7. Texas Instruments Incorporated (USA)
8. Elix Wireless (Canada)

Wireless Power Transmission Market Giants in Europe

1. NXP Semiconductors N.V. (Netherlands)
2. Infineon Technologies AG (Germany)

Wireless Power Transmission Market Top Companies in Asia Pacific

1. Murata Manufacturing Co., Ltd. (Japan)
2. Toshiba Corporation (Japan)
3. Samsung Electronics Co., Ltd. (South Korea)
4. Sony Corporation (Japan)
5. TDK Corporation (Japan)
6. ConvenientPower HK Ltd. (Hong Kong)
7. Renesas Electronics Corporation ( Japan)

Wireless Power Transmission Market key players in the Middle East and Africa

1. Humavox Ltd (Israel)
2. Powermat Technologies Ltd. (Israel)

Maximize Market Research is leading Electronics Research firm, has also published the following reports:

1. Flexible AC Transmission System Market:- The flexible AC Transmission System Market was valued at US$ 1.45 Billion in 2023 and is expected to reach US$ 2.30 Billion by 2030 at a CAGR of 6.83 % during the forecast period. The advancement of electric power transmission systems and increases in demand for controllability drives the global market.
2. Power Transmission Lines and Towers Market:- The Power Transmission Lines and Towers Market size was valued at USD 15.68 Billion in 2023 and is expected to reach USD 23.12 Billion by 2030, at a CAGR of 5.7 % from forecast 2024 to 2030. Increasing Energy Demand and Renewable Energy Integration to Drive the Market.
3. Global Power Transmission And Motion Control Market:- Power Transmission and Motion Control Market is expected to reach US$ 461.28 Bn. by 2030 at a CAGR of 18.03 during the forecast period. Growing advanced technologies in the automotive and power generation industries are a major driving factor behind the growth of the market.
4. Power Diode Market was valued at USD 2.90 Bn in 2023 and is expected to reach USD 4.05 Bn by 2030, at a CAGR of 4.9 % during the forecast period.
5. Wireless Sensor Market expected to hit USD 32.14 Bn by 2029 from USD 10.6 Bn in 2021 at a CAGR of 18 % during the forecast period
6. Wireless Video Surveillance Market size was valued at US$ 47.19 Bn. in 2022 and the total revenue is expected to grow at 10% through 2023 to 2029, reaching nearly US$ 91.95 Bn.
7. Wireless Health and Fitness Devices Market size was valued at USD 3.40  Mn. in 2023 and the total revenue is expected to grow at 6.6% through 2023 to 2030, reaching nearly USD 5.31  Mn.

Key Benefits for Stakeholders:

• This report offers a comprehensive analysis of the Wireless Power Transmission market, combining both quantitative and qualitative insights. It covers segment analysis, current trends, market dynamics, challenges, and forecasts for the industry from 2024 to 2030.
• Utilizing Porter's Five Forces framework, the report examines the power of buyers and suppliers, supporting stakeholders in making informed decisions and strengthening supplier-buyer relationships.
• A detailed look at market segmentation covers key opportunities within the Wireless Power Transmission sector.
• Major countries within each region are mapped according to their revenue contributions, highlighting their impact on the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

About Maximize Market Research:

Maximize Market Research is a multifaceted Market Research and consulting company with professionals from several industries. Some industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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