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Several key trends are shaping the trajectory of the Wireless Power Receiver Market and influencing the development of wireless charging technologies themselves. An obvious example is the growing integration of wireless charging capabilities found in various devices apart from smartphones. It is important to mention another major trend, which is growth in faster, more efficient ways of wirelessly recharging battery-powered items. Shorter periods required for batteries' rapid replenishment are now considered by users who want their portable electronics back online as soon as possible. As a countermeasure against this tendency, manufacturers offer higher wattage level options along with faster charge times within their product ranges, which are comprised of wirelessly functioning rechargers like Qi standard suppliers do today. Among other things, this means that more electric vehicles (EVs) are incorporated with chargers that use magnetic induction.
Interoperability has come up strongly when looking at trends in Wireless Power Receiver Market because people would rather apply one charger that works universally than carry so many around only for each gadget they have individually bought from different brands to have its custom-designed charger, especially if it has been available at high cost compared to others. Additionally, environmental sustainability has increased significantly in the wireless power receiver industry. The demand for eco-friendly and energy-saving charging means is growing since consumers are becoming environmentally conscious. This can be addressed by integrating energy-saving functions into chargers, enhancing the efficiency of power transmission, or using materials and production methods that adhere to sustainability principles. There is an increasing need for green technologies globally; this resonates with the aim of lowering electronic waste.
Another trend observed in this market is the introduction of wireless charging innovation that uses resonance technology. A device does not have to bond precisely with a pad thanks to its being charged through resonant wireless charging, thereby enabling significant spatial freedom. Wireless charging in public areas such as airports and coffee shops, which offer ubiquitous access to electricity supply, has become a new tendency. Establishments where individuals can charge their phones while on the move are extensively introducing these facilities nowadays, such as coffee bars situated at airports across America. Another rising trend that may change how wireless chargers operate describes long-range wireless battery replenishment, which could redefine this business altogether. Companies involved in this discovery are working towards achieving transmission of electric charges without having any contact between charger and device over long distances possible. Thus, such technology would alter our understanding of wireless power, particularly when using it away from each other.
Wireless Power Receiver Market Highlights:
Global Wireless Power Receiver Market Overview:
Wireless Power Receiver Market Size was valued at USD 8.05 billion in 2023. The Wireless Power Receiver market industry is projected to grow from USD 10.50 Billion in 2024 to USD 66.43382246 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 25.93% during the forecast period (2024 - 2032). A rise of Internet of Things (IoT) applications is the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Wireless Power Receiver Market Trends
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Rise in Internet of Things (IoT)is driving the market growth
The rise of Internet of Things (IoT) applications, including smart homes, smart cities, machine-to-machine (M2M) communication, and Industrial Internet of Things (IIoT), has led to business growth. The increasing use of home appliances and home automation is driving the market. This factor drives the Market CAGR.
Additionally, the increase in the use of power transmission devices in various industries, including industrial, healthcare, automotive, and defense applications, is one of the major factors driving the growth of the wireless power transmission market. The rapid growth of consumer electronics drives the market further due to the high use of mobile, tablet, and laptop charging devices.The surge in the need for long-term energy safety is a timely investment to supply energy further influence the market. It offers economic development and a sustainable environment across the globe. The rise in the telecommunication sector assists in the expansion of the market.
Additionally, rapid urbanization, lifestyle change, surge in investments and increased consumer spending positively impact the wireless power transmission market.Furthermore, adopting wireless power transmission for automotive and electric vehicle charging applications extends profitable opportunities to the market players from 2022 to 2029. Also, increasing expenditure to undertake research and development proficiencies will further expand the market. Thus, driving the Wireless Power Receiver market revenue.
Wireless Power Receiver MarketSegment Insights:
Wireless Power Receiver Technology Insights
Based on technology, the Wireless Power Receiver Market segmentation includes inductive coupling, capacitive coupling. The inductive coupling segment dominated the market because inductive coupling is a well-established technology used in various applications, such as smartphones, laptops, and electric vehicles. Inductive coupling is a well-established technology. Inductive coupling is efficient and reliable. Inductive coupling is relatively easy to implement.
Figure1: Wireless Power Receiver Market, by Technology, 2022&2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Wireless Power Receiver Application Insights
The Wireless Power Receiver Market segmentation, based on application, includes consumer electronics, healthcare, automotive, aerospace and defense, and industrial. The consumer electronics segment dominated the market;this is because consumer electronics is a large and growing market, and wireless power is a key enabling technology for many consumer electronics products, such as smartphones, laptops, and wearable devices.Consumer electronics is a large and growing market. Wireless power is a key enabling technology for many consumer electronics products.Wireless power is becoming increasingly popular among consumers.
Wireless Power Receiver Regional Insights
Segmented by region, the study provides market insights for North America, Europe, Asia Pacific and the rest of the world. The North American wireless power marketregion has lower costs associated with installing wireless wireless transmitters and receivers and more investment in the region.
In addition, major countries examined in the market report include the United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, Australia, South Korea and Brazil.
Figure2: GLOBAL WIRELESS POWER RECEIVER MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Wireless Power Receiver market accounts for the second-largest market share due to therising favorable norms and various governments' incentives to improve the Region's renewable energy blend. Further, the German Wireless Power Receiver market witnessed the largest market share, and the UK Wireless Power Receiver market was the fastest-growing market in the European Region.
The Asia-Pacific Wireless Power Receiver Market is expected to grow fastest from 2023 to 2032. This is due tothe increasing expenditure on research and development proficiencies. Moreover, China’s Wireless Power Receiver market held the largest market share, and the IndianWireless Power Receiver market was the fastest-growing market in the Asia-Pacific region.
Wireless Power Receiver Key Market Players& Competitive Insights
Leading manufacturers are investing in research and development to expand their products, which will help the wireless charging receiver market grow further. Entrepreneurs are also undertaking various activities to expand their global footprint, and key business development activities include new product development, contract deals, joint venture mergers and acquisitions, increased investment and collaboration with other organisations. To grow and survive in a more competitive and thriving business environment, the wireless receiver business needs to have good products.
Local manufacturing to reduce operating costs is one of the key marketing strategies used by companies in the global wireless charging receiver industry to benefit consumers and business expansion. In recent years, the wireless receiver industry has provided some of the best. Major players in the Wireless Power Receiver market, including Qualcomm, Linear Technology, Semtech, Samsung Electronics, Integrated Device Technology (IDT), ROHM, NXP Semiconductor, STMicroelectronics, WiTricity, Powermat Technologies, TDK, Texas Instruments., and Other companies are trying to meet their business needs by investing in R&D activities.
Hyundai Motor Corporation, often abbreviated as Hyundai and commonly referred to as Hyundai, is a Korean multinational automaker headquartered in Seoul, South Korea in 1967. Hyundai released the ix25 model, also known as Creta. There has been an increase in the sales of this car in the Indian market in recent times, and this car in the SUV segment offers wireless charging options, unlike other competitors like Maruti Suzuki VitaraBrezza.
Rohm Semiconductor is a Japanese electronic parts manufacturer based in Kyoto, Japan. Rohm was incorporated as Toyo Electronics Industry Corporation by Kenichiro Sato on September 17, 1958. Rohm announced the development of an automotive wireless-charging solution with an integrated near-field communication system. This has led to the merging together of Rohm's automotive grade (AEC- Q100Qualified) IC with STMicroelectronics NFC Reader IC(ST25R3914) and 8-bit microcontroller (STM8A series).
Key Companies in the Wireless Power Receiver market include
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Linear Technology
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Semtech
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Samsung Electronics
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Integrated Device Technology (IDT)
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ROHM
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NXP Semiconductor
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STMicroelectronics
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WiTricity
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Powermat Technologies
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TDK
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Texas Instruments
Wireless Power Receiver Industry Developments
March 2019: Samsung released its new S10 and S10plus smartphones, which have a wireless power share feature that lets you use the back of the phone to Qi charge another phone. This idea was taken from the Huawei Mate 20 pro phone, but this phone was not available in certain territories, including the US. This has helped the sales of the Samsung S10 worldwide.
February 2019: Rohm announced the development of an automotive wireless-charging solution with an integrated near-field communication system. This has led to merging Rohm's automotive grade (AEC- Q100Qualified) IC with STMicro.
Wireless Power Receiver Market Segmentation:
Wireless Power Receiver Technology Outlook
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Inductive Coupling
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Capacitive Coupling
Wireless Power Receiver Application Outlook
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Consumer Electronics
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Healthcare
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Automotive
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Aerospace
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Defense
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Industrial
Wireless Power Receiver Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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