Wireless Power Transmission Market Drivers, Size, Biggest Share, Growth Opportunities 2024-2032 by WiTricity, Fulton Innovations, Humavox, Murata Manufacturing

The Wireless Power Transmission Market is Valued USD 18.3 billion in 2024 and projected to reach USD 149.7 billion by 2032, growing at a CAGR of 26.3% During the Forecast period of 2024-2032. The wireless power transmission market presents significant opportunities for innovation and growth. As technological advancements continue to enhance power transfer efficiency, opportunities emerge for wireless charging solutions in emerging industries such as electric vehicles, medical devices, and industrial automation. The global wireless power transmission market serves the purpose of providing convenient and cable-free charging solutions for a wide range of electronic devices. The market is driven by the increasing adoption of portable devices, the growth of IoT applications, and the need for efficient charging methods. However, challenges such as limited range and efficiency, compatibility issues, and the lack of universal standards need to be addressed.

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The wireless power transmission market is going through enormous transformation and growth. Factors such as increase in application of wireless power transmission in the consumer electronics and rising need for battery powered equipment mainly drives growth of the wireless power transmission market. In addition, ongoing developments in the long-range wireless power transmission further boosts growth of the market. However, high cost associated with wireless power transmission technology may hamper growth of the market during the forecast period. On the contrary, integration of wireless charging with electric vehicle charging applications will create lucrative growth opportunities for the market growth.

Profitable players of the Wireless Power Transmission market are: Energous, WiTricity, Fulton Innovations, Humavox, Murata Manufacturing, Wi-Charge, Ossia, Inc., UBeam, PowerbyProxi, Philips, Samsung Electronics Co., Ltd, Qualcomm Inc., Texas Instruments Inc., TDK Corporation, WiTricity Corporation, Integrated Device Technology, Inc., NuCurrent Inc., PowerbyProxi Ltd, ConvenientPower HK Ltd., Salcomp Plc., and Powermat Technologies Ltd.

Major Classifications are as follows:

By Technology
Near-Field Technology
Inductive
Magnetic Resonance
Capacitive Coupling/Conductive
Far-Field Technology
Microwave/RF
Laser/Infrared

By Range
Medium Range
Short Range

By Device Type
Devices with Battery
Devices without Battery

By Application
Consumer Electronics
Industrial
Automotive
Defense
Others

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Essential regions of the Wireless Power Transmission market are:

• Wireless Power Transmission North America Market includes (Canada, Mexico, USA)
• Wireless Power Transmission Europe Market includes (Germany, France, Great Britain, Italy, Spain, Russia)
• Wireless Power Transmission Asia-Pacific Market includes (China, Japan, India, South Korea, Australia)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa)
• Wireless Power Transmission South America Market includes (Brazil, Argentina)

Global Wireless Power Transmission Market Recent Developments

In March 2023, WiTricity Corporation and ABT e-Line announced to deliver aftermarket wireless EV charging in Europe. Wireless charging will be made available commercially starting in 2024 with the Volkswagen ID.4 model.

In January 2023, Energous Corporation and Atmosic Technologies introduced a brand-new software version for their Wirelessly Powered Sensor Evaluation Kit that integrates Energous' FCC-approved 1W WattUp PowerBridge transmitter and energy-harvesting Bluetooth Low Energy SoC solutions from Atmosic.

What's more, it likewise covers the request and give of the promoting research concentrate in the assessed figure time frame. Explained investigation of the market players with their profile, deals examination and serious scene is given in the report. Besides, organization, joint effort and consolidations in the business are referenced for the accommodation of the investigation of the global Wireless Power Transmission industry.

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Pivotal questions answered in the global Wireless Power Transmission market report:

• What are the major value propositions of the Wireless Power Transmission market?
• What are the new strategical frameworks that are mobilized among players to accomplish resilience in the wake of the COVID-19 pandemic?
• What technologies are expected to adopt the new regulations in Wireless Power Transmission report?
• What are the key collaborations generated by the vendors to consolidate their position in the Wireless Power Transmission market?
• What are the vital offerings new entrants concentrate on to implement unique positioning strategies?
• What are the futuristic prospects of the Wireless Power Transmission market across the globe?

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