According to the Market Statsville Group (MSG), the Global WPC Antenna Market size is expected to grow at a CAGR of 9.8% from 2023 to 2033.
A Wireless Power Coil (WPC) antenna converts the electrical energy into electromagnetic waves and vice versa, enabling the wireless transfer of power between a source and a device. WPC antennas are designed as coils or loops of wire, and their operation is based on the principles of electromagnetic induction. The WPC antennas have wide applications in wireless charging pads for smartphones and other portable devices. The innovative advancements in WPC antenna technology led to the development of wireless charging solutions for various electronic devices, a surging trend of cable-free power transfer across the world. WPC antennas have an application in electric vehicle charging pads to recharge electric cars simply by parking them over a specially designed pad.
The proliferation of smartwatches, smartphones, wireless earbuds, and other portable devices, has upsurged the demand for convenient and cable-free charging solutions which significantly augment the market’s growth. The growing automotive industry owing to the increasing adoption of electric vehicle technology is another factor that contributes to the WPC antennas market’s growth over the forecast period. According to the International Energy Agency (IEA), more than 10 million electric cars were sold in 2022, and is expected to rise by another 35% to reach 14 million in 2023. Further, WPC antennas have wide application in medical devices like hearing aids, implantable cardiac devices, and wearable health monitors, thus creating a lucrative growth opportunity for the market.
Based on application, the market is divided into consumer electronics industry, communications industry, automobile industry, medical industry, and others. The consumer electronics industry segment accounted for the largest market share in 2023. The increasing sale of smartphones, smart watches, tablets, and many others has enhanced the demand for convenient and rapid charger facilities across the world. The trend of wireless charging and consumer preferences for wireless and hassle-free charging of their electronics has significantly increased the demand for WTC antennas. As these antennas are used in wireless chargers to enhance the charging capability and offer a hassle-free experience, thereby driving the market’s growth.
Based on the regions, the global WPC antenna market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. North America accounted for the largest market share in 2023. The growing tech-savvy population and high adoption rate of consumer electronics in North America is the major driving factor for the market. Also consumers in the region increasingly rely on smartphones, tablets, and wearable devices, the demand for convenient and cable-free charging solutions has surged significantly increasing the demand for the WPC antenna market. Further, with the growing Electric Vehicle (EV) industry in the North American market, the demand for wireless charging solutions powered by WPC antennas has risen. The industries such as manufacturing and logistics are adopting automation and IoT technologies which subsequently fostered the market’s growth over the forecast period.
The Major key players in the global WPC antenna market are:
This market research study categorizes the WPC antenna market-based on type, and application at the regional and global levels.
Frequently Asked Questions
The global WPC antenna market has a potential to grow at a CAGR of 9.8% from 2023 to 2033.
The main players involved in the market are MathWork, Autodesk, Ansys, Siemens AG, PTC, Dassault Systemes, Altair Engineering, MSC Software, Honeywell, Keysight Technologies, Aveva, Spirent Communications, Bentley Systems, Synopsys, AVL List GmbH, COMSOL, Certara, CAE (Presagis), aPriori, PTV Group, AnyLogic, SimScale, Scalable Networks, Simul8 Corporation, FlexSim, MOSIMTEC, Simio, ProSim, Cybernet, Cesim, among others.
Opportunities in the WPC antenna market include the increasing demand for wireless charging solutions in consumer electronics and electric vehicles, while risks involve potential interference and regulatory challenges associated with wireless power transfer technology.
Key trends, innovations, and technological advancements shaping the WPC antenna market include higher efficiency antenna designs, integration into emerging applications like electric vehicle wireless charging, and the development of resonant and beamforming technologies for extended range and enhanced performance.
Consumers in the WPC antenna market exhibit a preference for convenient and cable-free charging solutions, value compatibility with a wide range of devices, and are increasingly environmentally conscious, seeking energy-efficient and sustainable options.
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