Wireless Charging Market – Size, Outlook, Trends and Forecast (2024

Wireless Charging Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Wireless charging is a technology that enables the consumer to charge electronic devices such as smartphones, wearable computing, and tablets products without the need for physical wires. By using a wireless charger, it is the much easier solution to the frustration of maintaining a battery charge. Wireless charging can be used for wide variety of devices including electric cars, MP3 players, computers, robots, and laptop.

Wireless Charging Market Size & Growth:

Wireless Charging Market size is projected to reach $3289.8 Million by the end of 2024 with a CAGR of 33.95% during the forecast period. Key Parameters promoting the market growth include rising adoption of wireless technology in electronic devices like tablets and smartphones, insufficient availability of electric sockets in public places and malfunctioning ports due to continuous usage, the rise in disposable income, increased demand for electric vehicle and consumer applications. Integrated receivers hit mainstream device, diversification for various applications, power ratings, and refinements to system design, is now driving the development of the technology. Demand for wireless charging is growing rapidly owing to growing consumer awareness as more number of mobile devices are being launched with embedded wireless charging technology.

There is a rapid increase in some mobile device vendors are incorporating the wireless charging feature in high-end models of notebooks, smartphones, wearable devices, and laptops, which leads to the adoption of this technology. Recently Apple decided to implement this technology with its iPhone 8 and X, highlighting that wireless charging a now reach the high volume consumer market with good performances that fulfil the regulations.

Many technologies have been developed within the last two centuries which includes inductive coupling, capacitive coupling, magnetic resonant coupling, and power transfer by laser. Inductive coupling is mainly used in consumer applications like Samsung GS7 and GS8 and iPhone 8. Efficiency and compatibility issues, differing technologies & absence of firm market standards hinder the market growth.

Wireless Charging Market Share:

Wireless Charging Market is classified by Component, by Technology, by Application, by End-User, by geography.

Wireless Charging Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

By Component, the Wireless Charging Market is classified as transmitters, receivers, substrates, conductive coils, resistors, capacitors, diodes, and transistors. Based on technology, these are classified as inductive technology, radiofrequency technology, resonant technology, laser beam, and radiation technology. Based on Application, these are classified as healthcare, industrial, smartphones, and computing devices.

Based on End-user, these are classified as consumer electronics, automotive, and aerospace & defence. Consumer Electronics is accounted for the largest market share and is expected to have some positive growth throughout the forecast period. Wireless charging solution providers are offering wireless charging solutions for consumer electronic devices. They are entering into partnerships with consumer electronic devices manufacturers to develop wireless charging enabled devices. The number of patent publications has continuously increased, and since 2010 we have witnessed a strong increase in patenting activity induced by the simultaneous important development of non-radiative and radiative technologies for consumer electronic devices and transport applications. Automotive segment holds the highest CAGR and is expected to have the highest growth during the forecast period. Consumer Electronics segment is witnessed to be the dominant end-user segment in the North America wireless charging market throughout the forecast period.

North America holds the largest market share and is expected to have the positive growth during the forecast period 2018-2024. In North America, U. S represents the largest market for portable electronics due to the greater technology penetration, acceptance, and presence of a large number of established players like Apple, Dell, and Google that are focussing on developing state-of-the-art portable electronics. Regarding charging and connectivity, this region has established infrastructure for the emerging technologies.

Asia-Pacific is expected to be the fastest growing region during the forecast period due to the rising demand for mobile devices and the consequent need for wireless charging. In Asia-Pacific, India and China have a large base of youth population which will have a positive impact on wireless charging market owing to the adoption of portable electronics and wireless chargers.

Europe is mainly focusing on the inclination to spend on quality consumer electronic products designed for the niche segment and growing consumer preference. Increasing adoption of powering mats and charging hotspots for consumers by global food chains including McDonalds and Starbucks is expected to have a positive impact on demand.

The Middle East and Africa and South America are expected to have the market during the forecast period 2018-2024 owing to the high adoption of wireless/cordless charging over the next five years.

Wireless Charging Market Trends:

By 2040, Japanese Aerospace Exploration Agency is planning to launch a space-based wireless electricity system that would beam power back to earth via microwaves.
Wireless Charging can become more ubiquitous over the next ten years when furniture companies start incorporating wireless charging systems into their products, thus eliminating the need for a special charging surface like a mat or dock.

Wireless Charging Market Research Reports:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have complete market analysis through industry value chain analysis, Porter’s five, PESTLE, SWOT analysis, and Y-o-Y analysis.

Regional and global is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year–On–Year

Identifying DROC in the current market and their impact in altering the market dynamics.

Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial analysis with major competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

Identify the latest developments, market shares and strategies that are employed by the major market players, such as

Texas Instruments Inc.
Qualcomm Inc.
WiTricity Corporation
Energizer Holdings, Inc.
Fulton Innovation LLC
Convenient Power HK Limited

Along with these companies, there were many other companies considered/cited in the report while analysing the Wireless Charging market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.

chargers. Europe is mainly

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Wireless Charging Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

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