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Wireless Power Transmission Market to Hit USD 49.85 Billion by 2030 at a CAGR of 12.3 percent

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Maximize Market Research has published a detailed analytical report on the Wireless Power Transmission Market.

PUNE, India, Aug. 26, 2024 /PRNewswire/ — The future of energy is set to be transformed by the Wireless Power Transmission Market. As industries increasingly adopt wireless charging, from electric vehicles to consumer electronics, the demand for seamless and efficient power transfer is increasing rapidly. Major players are accelerating their investments in research, development, and strategic partnerships, aiming to perfect this transformative technology. The race to dominate the Wireless Power Transmission Market is intensifying, promising groundbreaking innovations that redefine how power is transmitted globally. This shift enhances convenience and drives sustainability, positioning wireless power transmission as a cornerstone of future technological advancements.

Market Size in 2023

USD  22.13 Billion

Market Size in 2030

USD  49.85 Billion

CAGR

12.3 %

Forecast Period

2024-2030

Base Year

2023

Segment Covered

by Technology

by Implementation

by Receiver Application

by Transmitter Application

by Region

Key Market Drivers

 Technological Advancements Consumer Electronics Growth

Key Market Restraint

 High Costs

Key Market Opportunities

 Integration with IoT Devices Healthcare Applications

Report Coverage

Market Share, Size, and Forecast by Revenue | 2024−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

Get your Sample PDF: https://www.maximizemarketresearch.com/request-sample/30188/ 

Wireless Power Transmission Market: Driving Innovation and Convenience in the Cable-Free Era

The Wireless Power Transmission (WPT) Market is advancing rapidly as new charging technologies emerge and consumers increasingly prioritize convenience. Inductive and resonant charging technologies drive this growth. According to MMR Report in the smartphone sector, wireless charging adoption is expected to surpass 1.2 billion units by 2026. The electric vehicle market also shows significant expansion, with the wireless charging segment expected to grow from $21 million in 2021 to $1.8 billion by 2028. Innovations such as magnetic resonance coupling and radio frequency (RF) charging enhance efficiency and range, enabling broader applications. As more consumers embrace a cable-free lifestyle, the WPT market stands poised for substantial growth, driven by the demand for efficient, convenient, and durable power solutions in a highly connected world.

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Wireless Power Transmission Market: Segmentation 

The global Wireless Power Transmission Market is segmented into Applications which are further segmented into Receiver and Transmitter. The receiver segment dominated the Application segment of the Wireless Power Transmission Market in the year 2023. Due to its crucial role in converting transmitted power into usable energy for various devices. This component’s advancement enhances charging efficiency and convenience, driving its significant demand in consumer electronics, electric vehicles, and healthcare applications.

Wireless Power Transmission Market: Regional Analysis

The United States leading in adoption due to a strong push for sustainability and the convenience of wire-free solutions. According to recent reports of MMR, over 60% of households in the United States have adopted wireless technology solutions. This trend is particularly strong in urban areas, where adoption rates are even higher, reaching up to 75%. The drive towards sustainability has also led to a 40% increase in the installation of eco-friendly wireless systems over the past five years. Businesses are rapidly integrating wireless power into consumer and commercial electronics, with expectations that it will soon become a mandatory feature.

In Asia, rapid adoption is driven by large-scale technology integration and a focus on sustainability, making wireless power a key competitive advantage in the region’s booming consumer electronics market.  Europe is steadily embracing wireless power, particularly in sectors such as retail, construction, and healthcare, as the demand for reducing reliance on wired networks grows. Wireless power transmission is expected to become a standard technology, transforming industries through the widespread adoption of battery-free, always-on devices.

For Detailed Segment Analysis: Request a Sample Report

 Wireless Power Transmission Market: Segmentation 

By Technology

Near-Field TechnologiesFar-Field Technologies

By Type

Devices with BatteryDevices without Battery

By Application

ReceiverTransmitter

Wireless Power Transmission Market Key Players in North America

Qualcomm Inc. (USA)Energous Corporation (USA)WiTricity Corporation (USA)Fulton Innovation LLC (USA)Ossia Inc. (USA)Mojo Mobility, Inc. (USA)Texas Instruments Incorporated (USA)Elix Wireless (Canada)

Wireless Power Transmission Market Giants in Europe

NXP Semiconductors N.V. (Netherlands)Infineon Technologies AG (Germany)

Wireless Power Transmission Market Top Companies in Asia Pacific

Murata Manufacturing Co., Ltd. (Japan)Toshiba Corporation (Japan)Samsung Electronics Co., Ltd. (South Korea)Sony Corporation (Japan)TDK Corporation (Japan)ConvenientPower HK Ltd. (Hong Kong)Renesas Electronics Corporation ( Japan)

Wireless Power Transmission Market key players in the Middle East and Africa

Humavox Ltd (Israel)Powermat Technologies Ltd. (Israel)

Maximize Market Research is leading Electronics Research firm, has also published the following reports:

Flexible AC Transmission System Market:– The flexible AC Transmission System Market was valued at US$ 1.45 Billion in 2023 and is expected to reach US$ 2.30 Billion by 2030 at a CAGR of 6.83 % during the forecast period. The advancement of electric power transmission systems and increases in demand for controllability drives the global market.Power Transmission Lines and Towers Market:- The Power Transmission Lines and Towers Market size was valued at USD 15.68 Billion in 2023 and is expected to reach USD 23.12 Billion by 2030, at a CAGR of 5.7 % from forecast 2024 to 2030. Increasing Energy Demand and Renewable Energy Integration to Drive the Market.Global Power Transmission And Motion Control Market:- Power Transmission and Motion Control Market is expected to reach US$ 461.28 Bn. by 2030 at a CAGR of 18.03 during the forecast period. Growing advanced technologies in the automotive and power generation industries are a major driving factor behind the growth of the market.Power Diode Market was valued at USD 2.90 Bn in 2023 and is expected to reach USD 4.05 Bn by 2030, at a CAGR of 4.9 % during the forecast period.Wireless Sensor Market expected to hit USD 32.14 Bn by 2029 from USD 10.6 Bn in 2021 at a CAGR of 18 % during the forecast periodWireless Video Surveillance Market size was valued at US$ 47.19 Bn. in 2022 and the total revenue is expected to grow at 10% through 2023 to 2029, reaching nearly US$ 91.95 Bn.Wireless Health and Fitness Devices Market size was valued at USD 3.40  Mn. in 2023 and the total revenue is expected to grow at 6.6% through 2023 to 2030, reaching nearly USD 5.31  Mn.

Key Benefits for Stakeholders:

This report offers a comprehensive analysis of the Wireless Power Transmission market, combining both quantitative and qualitative insights. It covers segment analysis, current trends, market dynamics, challenges, and forecasts for the industry from 2024 to 2030.Utilizing Porter’s Five Forces framework, the report examines the power of buyers and suppliers, supporting stakeholders in making informed decisions and strengthening supplier-buyer relationships.A detailed look at market segmentation covers key opportunities within the Wireless Power Transmission sector.Major countries within each region are mapped according to their revenue contributions, highlighting their impact on the global market.Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

About Maximize Market Research:

Maximize Market Research is a multifaceted Market Research and consulting company with professionals from several industries. Some industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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3rd Floor, Navale IT Park, Phase 2
Pune Banglore Highway, Narhe,
Pune, Maharashtra 411041, India
+91 9607365656
sales@maximizemarketresearch.com

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P&R Measurement Debuts at CES 2025: Redefining Industrial Applications and Flexible Manufacturing

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LAS VEGAS, Jan. 9, 2025 /PRNewswire/ — P&R Measurement, a key player in the measurement and control industry, is making its global debut at CES 2025, showcasing breakthrough solutions in AI-driven industrial applications and flexible manufacturing. Highlighting its upgraded brand vision, “Empowering everyone to be an innovator,” the company focuses on “AI-enhanced industrial applications + flexible manufacturing solutions” for modern industrial needs.

At the heart of P&R Measurement’s exhibit is PRIME, its self-developed industrial AI Agent. Designed to integrate testing and manufacturing systems with advanced automation, PRIME simplifies workflows, reduces technical barriers, and empowers non-expert users to confidently handle complex engineering tasks. This transformative technology embodies P&R Measurement’s commitment to innovation, delivering greater value to clients while expanding opportunities for growth.

Flexible Manufacturing and Tailored Solutions

P&R Measurement’s flexible manufacturing innovations also take center stage alongside PRIME. The company offers customized solutions for automated testing and assembly lines, enhancing precision, efficiency, and reliability across industries. In collaboration with a leading home appliance manufacturer, its Smart Lab—an AI and IoT-powered automated laboratory platform—optimized product development by reducing energy consumption by 30%, lowering R&D costs, and boosting testing efficiency in high-energy labs.

Additionally, P&R Measurement is showcasing its A²S Lab, a sensory testing solution, and A²TP, a flexible testing platform, which streamline complex product testing and enhance user experience.

Cross-Industry Collaboration and Market Recognition

Leveraging expertise across AI, information technology, industrial manufacturing, measurement and testing, P&R Measurement creates high-value solutions tailored to the consumer electronics, home appliances, and automotive sectors. Its AI-enhanced visual defect detection system has enabled a pass rate exceeding 99.8% for large automotive parts, while its deep learning model for a consumer electronics client automated sound anomaly detection, ensuring production accuracy and efficiency.

These innovations have addressed critical challenges, including on-time delivery and quality control, earning P&R Measurement widespread market recognition and trust.

Vision for the Future

P&R Measurement continues to transform intelligent manufacturing by integrating AI and advanced testing technologies into industrial and everyday applications. With a flexible, customer-focused approach, the company remains committed to evolving market demands. Following CES 2025, P&R Measurement will showcase its cutting-edge concepts at Design Con on January 28, reinforcing its leadership in shaping the future of global industrial ecosystems.

For more information, visit the P&R Measurement website at
https://prmeasure.com/
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RedBox Storage Appoints Benny Chung as New CEO to Drive Continued Growth and Innovation

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HONG KONG, Jan. 9, 2025 /PRNewswire/ — RedBox Storage is pleased to announce the appointment of Benny Chung as its new Chief Executive Officer, effective January 1, 2025.

Mr Chung brings a wealth of experience to RedBox, having most recently served as the Group Head of Investment at JustCo Group where he successfully led initiatives that drove corporate development, asset management strategies across the APAC region.

His prior experiences included various leadership roles at Shangri-La Group where Mr Chung managed assets exceeding HK$25 billion and oversaw a portfolio of more than 15 assets in South China.  Additionally, he served as Chief of Staff at CapitaLand driving corporate planning and focusing on the operations of CapitaMalls across Asia, which had a market capitalization of US$7 billion.

Since 2022, RedBox Storage has expanded its footprint, now owning and operating six modern facilities with over 400,000 gross floor area (GFA). The recent launch of a new facility on Western Hong Kong Island highlights the strong demand for self-storage solutions.

Redbox Storage Interim CEO Michael Cocozzo said:  “RedBox aims to be the leading self-storage operator in Hong Kong, and we see significant opportunities for further growth. With his extensive expertise in investment and asset management, Mr Chung is well-positioned to drive RedBox’s strategy and innovation in a competitive market. We look forward to collaborating with him as he leads the company through the next phase of development.”

Mr Chung said: “I am honored by the opportunity to lead RedBox Storage. Delivering high-quality customer experiences and innovative solutions is key to achieving success in the dynamic business environment of 2025 and beyond. Together with our talented team, I believe we can deliver exceptional value to our customers and maintain our reputation for reliability and excellence.”

For more information about RedBox Storage, please visit https://www.redboxstorage.com.hk/

About RedBox Storage

RedBox Storage has established itself as a premier storage provider, known for its reliability and personalized services. With ownership and operation of six modern facilities across Hong Kong, RedBox ensures convenient access for customers, boasting a combined space that spans over 400,000 GFA. The company takes pride in its unwavering dedication to security and the pursuit of innovative service solutions designed to meet individual client requirements, emphasizing customer peace of mind. Its consistent record of growth led to a landmark acquisition by global investment giant Brookfield Asset Management in 2022, highlighting the company’s successful expansion and enduring commitment to excellence.

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SOURCE RedBox Storage

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Touch the Future: Hanvon Unveils the World’s First EMC-Touch Chip & Penstar Brand at CES 2025

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LAS VEGAS, Jan. 8, 2025 /PRNewswire/ — Hanvon Technology, a pioneer in China’s artificial intelligence industry, made a significant splash at the CES 2025 Global Consumer Electronics Show, held at the Las Vegas Convention Center. Under the theme “Touch the Future,” Hanvon showcased a range of innovative technologies and products, including the world’s first EMC-Touch chip, HW0888, the Penstar digital notebook brand, biomimetic flying robots, digital signature, input method and OCR solutions. The event highlighted Hanvon’s key original technologies and its extensive industrial layout.

EMC-Touch Chip: Touch the Future Together
Since its founding in 1993, Hanvon has been deeply involved in the field of electromagnetic touch technology and is one of only two companies globally holding wireless passive electromagnetic patents. In 2010, Hanvon expanded into the capacitive touch field. Combining 30 years of expertise in electromagnetic technology with 15 years in capacitive touch technology, Hanvon has innovatively introduced the world’s first EMC-Touch chip, HW0888. This chip, along with a single layer of sensors, perfectly realizes the EMC solution, supporting both passive electromagnetic pens and capacitive touch. It features 8192 levels of pressure sensitivity and multi-finger touch functionality.

Penstar: Redefining the Digital Notebook Market
To tap into the large and steadily growing global market, Hanvon has developed a new brand strategy for Penstar, actively expanding into overseas e-commerce channels. The Penstar eNote digital notebook opened for sales in the North American market in August 2024 and has quickly gained popularity among users in North America.

The Penstar eNote is equipped with Hanvon’s revolutionary PureView™ ePaper screen technology, which eliminates accidental touches and enhances screen clarity. Since its launch, it has received widespread acclaim. Penstar’s debut at CES marks the accelerated global expansion of Hanvon’s digital notebook offerings, both online and offline, and highlights the company’s ambition in the global digital notebook market.

The New GoGoBird 3010: Soaring Globally
Hanvon’s GoGoBird is the world’s first commercialized autonomous flying biomimetic robot with flapping wings. Since its launch in 2019, it has quickly gained traction in markets across North America, Australia, Europe, Japan, and South Korea. The GoGoBird 3010, also known as “Golden Eagle,” is Hanvon’s latest model. It integrates biomimetic flight, intelligent sensing, and AI technology, offering features such as autonomous obstacle avoidance and high-definition real-time image transmission.

Profound Technological Accumulation and Deep Industry Expertise
At CES, Hanvon also showcased industry-leading solutions in digital signatures, input methods, and OCR, promoting global digital sustainable development.

Hanvon’s input method, integrated with Hanvon’s handwriting recognition, supports multiple languages with high recognition accuracy, low resource consumption, and high security. This method is closely integrated with in-vehicle applications, optimizing input efficiency based on specific scenarios, and is customized for multi-screen input, voice recognition, and multi-terminal screen responses, enabling a more comfortable and secure human-vehicle interaction.

With more than 20 years of experience in OCR, Hanvon has solved world-class challenges, such as recognizing freehand manuscripts, achieving a handwriting recognition rate of over 95%. Hanvon’s OCR solution has been successfully applied in scenarios such as financial bills, cards and certificates, vehicle driving licenses, reimbursement vouchers, and batch data recognition, helping businesses reduce costs and improve efficiency.

Leading AI Innovation and Industrial Development
Hanvon has long been at the forefront of artificial intelligence innovation and industrial development. The introduction of the world’s first EMC-Touch chip, the Penstar digital notebook, GoGoBird, and other groundbreaking applications at CES demonstrates Hanvon’s leadership in AI-driven interactions.

“Hanvon will continue to prioritize original innovation, striving to fulfill the mission of ‘machines understanding you better.’ Together, we will touch the future in this new era of artificial intelligence,” said a Hanvon spokesperson.

 

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