Global Wireless Power Transmission Market Size By Type (Type I, Type II), By Application (Application I, Application II), By Region, And Segment Forecasts, 2023 to 2032

The Global Wireless Power Transmission Market was valued at USD 7.8 billion in 2023 and is expected to surpass USD 25.5 billion by 2031, registering a CAGR of 15.8% during the forecast period from 2023 to 2031. The surge in demand for convenient, efficient, and cable-free power transfer solutions for consumer electronics, electric vehicles (EVs), and industrial applications is a primary driver for market growth. Wireless power transmission enhances convenience by eliminating wired connections, ensuring safe and seamless energy transfer for devices in homes, workplaces, and industrial settings.

Drivers

Rising Demand for Wireless Charging in Consumer Electronics: Increased adoption of mobile devices, wearables, and smart appliances is driving demand for wireless charging, enhancing user convenience and device longevity.

Expansion in Electric Vehicle Charging Infrastructure: As the EV market grows, so does the need for efficient, wireless charging solutions to eliminate cables, providing a more user-friendly EV experience.

Technological Advancements in Resonant and Inductive Coupling: Continuous innovation in wireless power technology, including resonant inductive and capacitive coupling, is improving efficiency, expanding applicability in various sectors, and driving market expansion.

Restraints

High Initial Costs: The implementation of wireless power solutions involves significant costs, which may limit adoption among budget-sensitive users.

Efficiency Limitations Over Distance: Current wireless power technologies face challenges in efficiently transmitting power over extended distances, limiting applications for large-scale power transfer.

Opportunity

Integration with IoT and Smart Home Technologies: As IoT devices proliferate, wireless power systems integrated with smart home solutions present significant growth potential by offering an untethered, seamless power solution for interconnected devices.

Adoption in Healthcare and Industrial Sectors: Wireless power transmission is finding applications in healthcare, reducing infection risk by eliminating cables and offering power to medical implants, and in industries where traditional wiring may pose a hazard.

Market by System Type Insights

In 2023, the Inductive Coupling segment led the market, driven by its widespread application in consumer electronics and electric vehicle charging. This segment is projected to maintain its dominance, with advancements in resonant inductive coupling set to improve efficiency and expand the scope of applications.

Market by End-use Insights

The Consumer Electronics segment held the largest market share in 2023, fueled by the popularity of wireless charging for smartphones, tablets, and wearable devices. The Automotive sector is expected to register significant growth due to increased EV adoption and advancements in wireless charging technology for vehicles.

Market by Regional Insights

North America held the largest market share in 2023, thanks to technological advancements, early adoption, and strong demand for consumer electronics and EVs. However, the Asia-Pacific region is anticipated to witness the highest growth rate, supported by rising consumer demand for electronics and EVs, along with significant investments in technology innovation across China, Japan, and South Korea.

Competitive Scenario

Key players in the Global Wireless Power Transmission Market include Qualcomm Inc., WiTricity Corporation, Powermat Technologies Ltd., Samsung Electronics, TDK Corporation, and Energous Corporation. These companies are heavily investing in R&D to enhance transmission efficiency and expand their technology portfolio. Key recent developments include Qualcomm’s launch of more efficient wireless charging solutions for EVs and Samsung’s advancements in compact wireless charging modules.

Scope of Work – Global Wireless Power Transmission Market

Key Market Developments

2023: Qualcomm Inc. launched an advanced EV wireless charging solution with enhanced efficiency, targeting automotive OEMs and charging network operators.

2024: WiTricity Corporation partnered with a leading automotive manufacturer to bring wireless EV charging capabilities to commercial markets.

2025: Powermat Technologies announced a strategic partnership with a leading healthcare provider to develop wireless charging systems for medical devices, enhancing patient care by reducing cable-related hazards.

FAQs

What is the current market size of the Global Wireless Power Transmission Market?

The Global Wireless Power Transmission Market was valued at USD 7.8 billion in 2023.

What is the major growth driver of the Global Wireless Power Transmission Market?

The major growth driver is the increased demand for wireless charging solutions in consumer electronics and the expanding EV market.

Which is the largest region during the forecast period in the Global Wireless Power Transmission Market?

North America held the largest market share in 2023, but Asia-Pacific is expected to witness the highest growth rate.

Which segment accounted for the largest market share in the Global Wireless Power Transmission Market?

The Consumer Electronics segment accounted for the largest market share in 2023.

Who are the key market players in the Global Wireless Power Transmission Market?

Key players include Qualcomm Inc., WiTricity Corporation, Powermat Technologies Ltd., Samsung Electronics, TDK Corporation, and Energous Corporation.