Wireless Power Transmission Market Size, Share, Growth Analysis, By Technology(Near-Field Implementation (Inductive, Magnetic Resonance, Capacitive Coupling/Conductive), and Far-Field Implementation (Microwave/RF), By Implementation(Integrated, and Aftermarket), By Receiver Application(Smartphones, Tablets, Wearable Electronics, Notebooks), By Transmitter Application(Standalone Chargers, Automotive (In Vehicle), Electric Vehicle Charging, and Furniture), By Region - Industry Forecast 2024-2031

Global Wireless Power Transmission Market Drivers

Increasing Adoption of Electric Vehicles (EVs)

• The growing demand for electric vehicles acted as a major driver for the wireless power transmission market in 2022. As EVs gained popularity worldwide, the need for efficient and convenient charging solutions became evident. Wireless power transmission technology offers a promising solution for charging electric vehicles without the need for physical connectors or cables. For example, in 2022, BMW announced the integration of wireless charging technology for their electric vehicles, enabling customers to conveniently charge their vehicles by parking over a wireless charging pad.

Rise in Consumer Electronics with Wireless Charging Capabilities

• The increasing adoption of wireless charging in consumer electronics devices fueled the growth of the wireless power transmission market in 2022. Smartphones, smartwatches, earbuds, and other portable devices integrated with wireless charging capabilities became more prevalent. For instance, in 2022, Apple introduced the iPhone 13 lineup, all of which support MagSafe wireless charging, reinforcing the trend of wireless charging in popular consumer devices.

Global Wireless Power Transmission Market Restraints

Limited Range and Efficiency

• The limited range and efficiency of wireless power transmission technology acted as a restraint in 2022. Current wireless charging solutions often require devices to be placed in close proximity to charging pads or transmitters, resulting in limited charging range. Additionally, energy transfer efficiency can decrease with increasing distance between the transmitter and receiver. Overcoming these limitations remained a challenge for the market in 2022, with ongoing research and development efforts focused on improving range and efficiency.

Compatibility Issues

• Compatibility issues among different wireless charging standards and protocols remained a restraint in 2022. Various manufacturers adopted different wireless charging technologies and standards, resulting in fragmentation in the market. This fragmentation can create confusion among consumers and slow down the widespread adoption of wireless power transmission. Efforts to establish universal standards and improve interoperability continued to address this challenge.