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 size was valued at USD 8.52 Billion in 2022 and is poised to grow from USD 10.22 Billion in 2023 to USD 43.96 Billion by 2031, at a CAGR of 20% during the forecast period (2024-2031).

The global wireless power transmission market is highly competitive and consists of several key players striving for market dominance. These companies are continuously innovating and developing new wireless charging technologies to gain a competitive edge. These companies are engaged in research and development activities, partnerships, mergers and acquisitions, and product innovations to gain a competitive edge. several other companies contributing to the competitive landscape, each with their own strengths and areas of expertise. Collaboration and partnerships among players in the ecosystem are also common, aimed at creating standardized solutions and driving market adoption. Overall, the competitive landscape of the global wireless power transmission market is vibrant, with companies striving to innovate and capture a significant share in this growing industry. 'Qualcomm Inc. (US)', 'Samsung Electronics Co., Ltd. (South Korea)', 'Apple Inc. (US)', 'Powermat Technologies Ltd. (Israel)', 'Energous Corporation (US)', 'WiTricity Corporation (US)', 'Integrated Device Technology, Inc. (US)', 'Sony Corporation (Japan)', 'Toshiba Corporation (Japan)', 'Panasonic Corporation (Japan)', 'Texas Instruments Inc. (US)', 'NXP Semiconductors N.V. (Netherlands)', 'Powercast Corporation (US)', 'Murata Manufacturing Co., Ltd. (Japan)', 'LG Electronics Inc. (South Korea)', 'Semtech Corporation (US)', 'Rohm Co., Ltd. (Japan)', 'Würth Elektronik GmbH & Co. KG (Germany)', 'ZTE Corporation (China)', 'Renesas Electronics Corporation (Japan)'

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.

Integration of Wireless Charging in Public Spaces: A key trend in 2022 was the integration of wireless charging capabilities in public spaces. This trend aimed to provide convenient charging options for users on the go. For example, coffee shops, airports, and restaurants began incorporating wireless charging pads or transmitters into their infrastructure, enabling users to wirelessly charge their devices while enjoying their services.

North America currently stands as the dominating region in the global wireless power transmission market. The region's dominance can be attributed to several factors. North America has a strong presence of key market players, including technology giants and innovative startups, driving advancements in wireless power transmission technology. The region boasts a high level of consumer electronics penetration, with a large base of smartphone users and early adopters of emerging technologies. The increasing demand for wireless charging solutions, coupled with a tech-savvy population, has propelled the growth of the wireless power transmission market in North America.