Wireless Power Transmission Market is predicted to thrive at a CAGR of 13.65% over the period 2018-2024

Wireless power transmission is a system to transfer power source through electromagnetic energy to electric load with no wires. The growing demand for battery-powered equipment is significantly boosting the growth of the global wireless power transmission market.

This report provides forecast and analysis of the wireless power transmission market which is estimated to surge US$18.140 billion by 2024, from US$8.420 billion in 2018.

Wireless power transmission is a system to transfer power source through electromagnetic energy to electric load with no wires. In a wireless power transmission system, a transmitter device, driven by electric power from a power source, generates a time-varying electromagnetic field, which transmits power across space to the receiver device, which extracts power from the field and supplies it to an electrical load. This technology eliminates the use of wires and batteries and thus increasing the mobility, convenience, and safety of an electronic device for all users. Wireless power transmission is convenient and there is no energy loss over the conventional energy transfer methods.

The wireless power transmission system is helpful where interconnecting wires is difficult, hazardous, or not possible. Wireless power transmission has a diverse range of applications in consumer electronics like smartphones, laptops, tablets, and other devices. This advanced technology is rapidly being implemented in sectors such as defense, healthcare, automotive, consumer goods, industrial and others. Rising needs for battery-powered equipment has resulted in the growth of the market. The wireless power transmission market is segmented by component, by technology, by range, by application, and geography. By geography, the wireless power transmission market has been segmented as Americas, Europe, the Middle East and Africa, and the Asia Pacific. The Americas and Europe market are projected to hold the dominating share in the market and are projected to grow at substantially high rates due to the rapid penetration of advanced consumer electronics and surge in the electric vehicle market. Asia Pacific region is also projected to hold a good share of the wireless power transmission market due to the increasing penetration of electronic industries, rising disposable income, and rising automation industry in the region is to drive the market in the forecast period.

Some of the major players covered as part of the report are Samsung Electronics Co. Ltd., WiTricity Corporation, TDK Corporation, Murata Manufacturing Co. Ltd., Energous Corporation, Texas instruments Incorporated, Renesas Electronic Corporation, LG INNOTEK, Qualcomm Technologies, INC. and RRC power solutions among others.

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This report segmented the wireless power transmission market on the basis following terms:

By Component

  • Hardware

  • Software

  • By Technology

  • Inductive Coupling

  • Capacitive Coupling

  • Resonant Inductive Coupling

  • Others

By Range

  • Short

  • Medium

  • Long

By Application

  • Consumer Electronics

  • Healthcare

  • Automotive

  • Others

By Geography

  • North America

    • USA

    • Canada

    • Mexico

  • South America

    • Brazil

    • Argentina

    • Others

  • Europe

    • Germany

    • France

    • United Kingdom

    • Spain

    • Others

  • Middle East and Africa

    • Saudi Arabia

    • Israel

    • UAE

    • Others

  • Asia Pacific

    • China

    • Japan

    • South Korea

    • India

    • Others