Unlocking the Future: Global Wireless Power Transmission Market Set for Robust Growth
The Global Wireless Power Transmission (WPT) Market is gaining momentum as industries increasingly demand safer, more convenient, and contactless power delivery systems. This transformative technology eliminates the need for physical connectors and cables, making it a key enabler in consumer electronics, automotive, healthcare, and industrial automation sectors. With its vast applications and growing adoption, the wireless power transmission market is poised for significant expansion over the coming years.
Market Overview
In 2023, the global wireless power transmission market was valued at approximately USD 7.26 billion, and it is projected to reach USD 30.4 billion by 2032, growing at a compound annual growth rate (CAGR) of 17.18% during the forecast period (2024–2032). This impressive growth is driven by increasing demand for wireless charging solutions, the proliferation of smart devices, and innovations in near-field and far-field technologies.