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The Wireless Power Transmission Market size is predicted to reach USD 33.35 billion with a CAGR of 21.0% till 2030. Wireless power transmission, also known as wireless power transfer (WPT), wireless energy transmission (WET), or electromagnetic power transfer refers to the transfer of electric energy without any physical link or wire.
Overview
Consumers' shift to wireless technology, driven by mobility and convenience, is fueling the wireless power transmission market. Additionally, the rise of IoT and innovative internet usage leveraging wireless power is expected to further drive market growth.
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On the contrary, the development of wireless-powered drones along with new developments including mini and micro robots for wireless power transfer is expected to create lucrative growth opportunities for the market players in the upcoming years.
Asia Pacific dominated the global wireless power transmission market is expected to remain dominant in the market throughout the forecast period.
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North America is anticipated to exhibit substantial growth in the global wireless power transmission market due to the rising awareness and government initiatives regarding clean energy storage in this region.
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