Wireless Charging Market to Grow with a CAGR of 25.1% Globally through to 2028
Global Wireless Charging Market is rising due to the
increasing demand for convenient, cord-free charging solutions across various
electronic devices, driven by consumer preferences for hassle-free charging
experiences and the growing integration of wireless charging technology in
smartphones, wearables, and electric vehicles in the forecast period 2024-2028.
According to TechSci Research report, “Global Wireless
Charging Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, The Global Wireless Charging Market is undergoing
substantial growth, driven by the increasing demand for convenient and
efficient charging solutions across various electronic devices. Wireless
charging technology has revolutionized the way consumers power their
smartphones, tablets, wearables, and other gadgets, eliminating the hassle of
cords and plugs. This innovation is particularly relevant in today's fast-paced
world, where users require seamless charging experiences. The market's
expansion is propelled by ongoing advancements in wireless charging standards,
such as Qi, ensuring compatibility across a wide range of devices.
Additionally, the proliferation of electric vehicles and the integration of
wireless charging pads in automobiles further contribute to the market's
growth. With the rise in eco-consciousness, wireless charging offers a
sustainable solution, reducing electronic waste from disposable charging
cables. The convenience, efficiency, and environmental benefits associated with
wireless charging continue to attract consumers and industries alike, making it
a pivotal technology shaping the future of electronic device power management.
As the market evolves, manufacturers are focusing on enhancing charging speeds,
expanding compatibility, and exploring new applications, solidifying the
wireless charging industry's position in the global market.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Wireless
Charging Market”.
The global wireless charging market has witnessed
significant growth in recent years, driven by the increasing demand for
convenient and efficient charging solutions across various industries. Wireless
charging technology eliminates the need for cables and connectors, providing a
seamless and hassle-free charging experience for consumers. This has led to its
widespread adoption in sectors such as consumer electronics, automotive,
healthcare, and hospitality. In the consumer electronics industry, wireless charging
has become an integral part of charging smartphones, tablets, smartwatches, and
other portable devices. The convenience of simply placing the device on a
charging pad or station has made wireless charging a preferred choice among
consumers. This has driven the market growth as manufacturers continue to
develop innovative wireless charging solutions that cater to the evolving needs
of consumers. The automotive industry is also contributing to the rise of the
global wireless charging market. With the increasing popularity of electric
vehicles (EVs), the need for efficient and convenient charging solutions has
become paramount. Wireless charging technology enables EV owners to charge
their vehicles without the hassle of plugging in cables, making it more
convenient and user-friendly. This has led to the integration of wireless
charging pads in EVs and the development of wireless charging infrastructure in
parking lots and public spaces, further driving market growth.
The healthcare sector is embracing wireless charging
technology for medical devices and wearables. Wireless charging provides a
reliable and efficient power source for devices such as patient monitoring
systems, implantable medical devices, and wearable health trackers. It
eliminates the need for frequent battery replacements and ensures continuous
operation, enhancing patient care and improving healthcare efficiency. The
hospitality industry is also recognizing the benefits of wireless charging.
Hotels, airports, restaurants, and other establishments are incorporating
wireless charging stations and surfaces to cater to the charging needs of their
guests. This integration enhances the guest experience by providing a
convenient and accessible charging solution, leading to increased customer
satisfaction and loyalty. Furthermore, the industrial sector is adopting
wireless charging technology for various applications such as robotics, drones,
and IoT devices. Wireless charging eliminates the need for manual battery
replacement or wired connections, improving operational efficiency and reducing
downtime.
In terms of technology, the global wireless charging
market offers various options such as inductive, resonant, radio frequency
(RF), and others. Inductive wireless charging, which utilizes electromagnetic
fields to transfer energy, has dominated the market due to its efficiency,
reliability, and compatibility with a wide range of devices. However, resonant
and RF wireless charging technologies are also gaining traction, offering
advantages such as longer charging distances and the ability to charge multiple
devices simultaneously. Geographically, North America has been a prominent
market for wireless charging, driven by the presence of major technology
companies and the early adoption of wireless charging solutions. Europe and
Asia Pacific are also witnessing significant growth, fueled by the increasing
demand for wireless charging in automotive, consumer electronics, and
healthcare sectors.
In conclusion, the global wireless charging market is
experiencing robust growth, driven by the demand for convenient and efficient
charging solutions across industries. The integration of wireless charging
technology in consumer electronics, automotive, healthcare, hospitality, and
industrial sectors is reshaping the way devices are powered. As technology
continues to advance and new applications emerge, the global wireless charging
market is poised for further expansion, offering enhanced convenience, efficiency,
and user experience.
The Global Wireless Charging Market is segmented into Technology,
Application, regional distribution, and company.
Based on Application, the consumer electronics segment
dominated the global wireless charging market and is expected to maintain its
dominance during the forecast period. The consumer electronics industry has
witnessed a significant surge in the adoption of wireless charging technology,
driven by the increasing demand for convenient and efficient charging solutions
for smartphones, tablets, laptops, smartwatches, and other portable devices.
The convenience of wireless charging, which eliminates the need for cables and
connectors, has made it a preferred choice among consumers. The integration of
wireless charging capabilities in smartphones and other consumer electronic
devices has become increasingly common, further driving the dominance of this
segment. Additionally, the availability of a wide range of wireless charging
pads, stations, and accessories from various manufacturers has contributed to
the growth of the consumer electronics segment. As technology continues to
advance, manufacturers are focusing on developing innovative wireless charging
solutions that cater to the evolving needs of consumers, such as faster
charging speeds and compatibility with multiple devices. The consumer
electronics segment is also expected to benefit from the increasing popularity
of wearable devices and the integration of wireless charging technology in
these devices. Furthermore, the rising trend of smart homes and smart devices
is expected to drive the demand for wireless charging solutions in the consumer
electronics sector. With the continuous advancements in wireless charging
technology and the growing consumer preference for wireless charging solutions,
the consumer electronics segment is poised to maintain its dominance in the
global wireless charging market during the forecast period.
Based on region, North America dominated the market and
accounted for the largest revenue share of 38.0% in 2022. Consumer’s
inclination towards spending more for such power, especially their smartphones
and tablets, has resulted in North America, particularly the U.S., being a key
regional segment.
MEA is expected to grow at the fastest
CAGR of 18.6% over the forecast period. The MEA region has witnessed increased
technology awareness and adoption, driven by a young and tech-savvy population.
As consumers become more familiar with wireless charging technology and its
benefits, the demand for wireless chargers continues to grow. As a lucrative
industry for consumer electronics devices such as smartphones and laptops and a
promising regional sector for hybrid electric vehicles, the Asia Pacific wireless
charging market is expected to grow at a significant CAGR over the forecast
period. Latin America and Africa are relatively untapped markets and are
expected to witness high adoption of cordless charging over the forecast period.
Major companies operating in Global Wireless
Charging Market are:
- Samsung Electronics Co., Ltd.
- Apple Inc.
- Qualcomm Incorporated
- Powermat Technologies Ltd.
- WiTricity Corporation
- Energous Corporation
- Integrated Device Technology, Inc.
- Texas Instruments Incorporated
- NXP Semiconductors N.V.
- Murata Manufacturing Co., Ltd.
- Sony Corporation
- Panasonic Corporation
- LG Electronics Inc.
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“The global wireless charging market has witnessed
significant growth in recent years, driven by the increasing demand for
convenient and efficient charging solutions across various industries. Wireless
charging technology eliminates the need for cables and connectors, providing a
seamless and hassle-free charging experience for consumers. This has led to its
widespread adoption in sectors such as consumer electronics, automotive,
healthcare, and hospitality. In the consumer electronics industry, wireless charging
has become an integral part of charging smartphones, tablets, smartwatches, and
other portable devices. The automotive industry is also contributing to the
rise of the global wireless charging market, with the increasing popularity of
electric vehicles (EVs) driving the need for efficient and convenient charging
solutions. The healthcare sector is embracing wireless charging for medical
devices and wearables, while the hospitality industry is incorporating wireless
charging stations to enhance the guest experience. With the industrial sector
adopting wireless charging for robotics, drones, and IoT devices, the market
offers various technologies such as inductive, resonant, and radio frequency
(RF) charging. Geographically, North America, Europe, and Asia Pacific are
witnessing significant growth. As technology continues to advance, the global
wireless charging market is poised for further expansion, offering enhanced
convenience, efficiency, and user experience,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Wireless Charging Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, Segmented By Technology (Inductive, Resonant, RF, Others), By
Application (Automotive, Consumer Electronics, Industrial, Healthcare, Defense,
Others), By Region, By Competition”, has evaluated the future growth potential of Global
Wireless Charging Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Wireless
Charging Market.
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