Wireless Power Transmission Market Set to Soar Past USD 36.63 Billion by 2030
The global Wireless Power Transmission market size is expected to reach USD 36.63 billion by 2030 and exhibit a CAGR of 20% in the forecast period (2023−2030), according to Skyquest’s latest research report. The growing demand for convenient and cable-free charging solutions for electronic devices, the proliferation of battery-powered devices, the need for efficient and sustainable power transfer methods, the expansion of electric vehicle (EV) adoption, advancements in wireless charging technologies, increased focus on IoT (Internet of Things) connectivity is fueling the market’s growth.
Westford USA, Feb. 01, 2024 (GLOBE NEWSWIRE) — SkyQuest’s latest global research of the Wireless Power Transmission market includes advancements in resonant inductive coupling and magnetic resonance technologies, which allow for longer-distance power transmission and more flexible device placement. Additionally, there is a growing emphasis on standardization and interoperability to ensure compatibility across various devices and manufacturers. The market is witnessing increased adoption in sectors like electric vehicles (EVs) as wireless charging solutions for EVs become more widely available and convenient are the trends that aid in the market’s growth.
Browse in-depth TOC on “Wireless Power Transmission Market”
- Pages – 157
- Tables – 61
- Figures – 75
Wireless power transmission (WPT) is the transmission of electrical energy without wires. It is based on the principle of electromagnetic induction, which states that a changing magnetic field can induce an electric current in a nearby conductor.
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Prominent Players in Wireless Power Transmission Market
- Energous Corporation
- Powermat Technologies
- Fulton Innovation
- Texas Instruments
- NXP Semiconductors
- Infineon Technologies
- ON Semiconductor
- Murata Manufacturing
- TDK Corporation
- Würth Elektronik
- Sumida Corporation
- Taiyo Yuden
Magnetic Resonance Demand to Grow Substantially in the Forecast Period
Magnetic Resonance dominates the global online market as it allows for more extended distances between the transmitter and receiver than traditional inductive coupling, which is limited to short distances. This extended range enhances convenience for users.
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Consumer Electronics is the Leading Application Segment
The consumer electronics segment, including smartphones, wearables, and wireless earbuds, was anticipated to be a significant sales driver. Consumers increasingly seek convenient and cable-free charging solutions for their devices, leading to a growing demand for wireless charging technology in this segment.
North America is the leading Market Due to the Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The region has a significant consumer electronics market, and the demand for wireless charging solutions has been strong. This includes smartphones, wearables, and other gadgets.
A recent report thoroughly analyzes the major players operating within the Wireless Power Transmission market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Wireless Power Transmission.
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Key Developments in Wireless Power Transmission Market
- Samsung Electronics showcased its Wireless Power Share technology, allowing Samsung smartphones to charge other Qi-compatible devices wirelessly.
Key Questions Answered in Wireless Power Transmission Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
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