Wireless Charging Market Synopsis

Wireless Charging Market Size Was Valued at USD 8.42 Billion in 2023 and is Projected to Reach USD 64.10 Billion by 2032, Growing at a CAGR of 25.30% From 2024-2032.

Wireless charging also referred to as induct care charging is a system through which gadgets can be charged without directly connecting them to a cable or plug. It works by transferring energy between two coils: one is placed on the charging pad and the other is mounted on the device side of the charging pad. As mentioned previously, the charging process is based on resonant induction where, when the device is placed at the center of the pad, an ac flows through the pad’s coil and generates a magnetic field that in turn charges another coil provided at the centre of the device thereby charging the battery. This method is more convenient and only put less stress on the charging ports as opposed to frequent use of the ports.

• The wireless charging is one of the most progressive and developing market areas of the past years, thanks to the desire of consumers for comfort and constant advancements of technology. Induction charging also known as wireless charging is a process of charging of one object with energy without the use of wires. The major application of this technology is in electronics gadgets like smartphones, smart watches, wireless earphones etc, however it finds application in electric vehicles and different evolving technologies.
•  These include, but are not limited to, the increase in the number of wireless charging compatible devices, where most devices are now being incorporated with wireless charging systems. Wireless charging has now become a standard feature in many of the advanced Smartphones and other technological gadgets that major companies have incorporated in their devices. Non-contact charging means that an adapter can be placed anywhere; it will charge a device, and one does not have to bother with wires that easily tangle. Finally, areas that were early problems of wireless charging such as slow charging speeds and low efficiency have been improved providing wireless charging as a viable solution for daily use.
•  The wireless charging market is segmented into several key areas: -application areas like consumer electronics automotive and industrial use. In the consumer electronics area, the market is fueled by the mobile phones especially smart phones and wearable technologies. Wireless charging for automotive vehicles is on the rise with the auto makers and technology providers globally working on the solutions that can wirelessly charge electric vehicles when parked or even while driving over charging tracks. In industrial use, the possibilities of wireless charging are being tested for various types of devices frequently requiring power – from medical ones to industrial robots.
•  Regionally, the global market is gradually expanding at a differential rate. North America and Europe are leading regions since they are more inclined toward the integration of new-age technologies and infrastructure. For Asia-Pacific, the communications technology factor pushes the growth rate due to faster technological evolution and increasing mobile phone usage especially smartphones. New markets are also coming through as the applications of wireless charging technology become cheaper and widespread. 
•  Wireless charging industry will experience progressive further development because of technological advancements, change of applications, and consumers’ demand on convenience. This technology is likely to become an integrated part of PCs as well as different products and services as it gains more recognition; this will spur further the development of its market.

Wireless Charging Market Trend Analysis

Growth in Adoption of Electric Vehicles

• The development of electric vehicles has increased considerably the popularity of wireless charging, which means that people are looking forward to more efficient and practical charging methods. The market of EVs is rapidly growing across the world due to a growing focus on the environment and efficient policies, and with this growth the need for efficient charging becomes more and more important. In wireless charging or inductive charging convenience is taken to power; the ability to do away with actual physical plugs makes the charging Convenience high thus boosting the chances of more EV’s on the road. It uses electromagnetic fields to charge a vehicle by placing it over the charging pad and hence is used by users to charge their electric vehicles.
• The market for wireless EV charging is strongly growing at the moment and it is expected to grow even further steadily in the near future due to inventions in technology like increase in power transfer efficiency and charging time and also growing interest from automotive manufacturing companies and technology giants. Also, the action of incorporating the smart grid integration and improvements in the field of material science improve the feasibility of implementing wireless charging. It is towards the prediction that growth of electric vehicles and their associated improvements in the market will directly result from improvements in the infrastructures meant for wireless charging of electric vehicles as these improvements increase in specifications and conformance.

Advancements in Consumer Electronics

• Innovations that have been made in the consumer electronics wireless charging market have ensured that charging of the devices is made easier and time effective. Avancements in this area include faster charging systems with some systems having supporting 60 watts of power, a feature that makes charging significantly faster than before. Enhanced cases include increased compatibility with wireless charging products which has grown including Qi to be compatible in use on smartphones, tablets, and even laptops. Inequalities have also been further improved in the dimension of wireless charging, which has begun to be incorporated into furniture and car interiors; Users can freely charge their devices while moving. The upgrade of materials and techniques of design has also resulted in better ways of power transfer and less energy wastage which was a problem in earlier designs attributed to issue like heat.
• Additionally, the enabled charging technology with resonance makes it easier to position and even distance the charger at a further range compared to the device, which enhances the chargers usability. In general, these developments indicate the tendency towards tighter coupling and increased effectiveness of electronics supplies in the framework of the targeted provision of convenient yet innovative gadgets and appliances for consumers.

Wireless Charging Market Segment Analysis:

Wireless Charging Market Segmented based on  Component, Technology , and Application .

By  Component,  Transmitters segment is expected to dominate the market during the forecast period

•  Concerning its market segmentation, it is characterized by the segregation between transmitters and receivers within the component segment of the wireless charger market. Transmitters are involved in production as well as emission of the electromagnetic field that results in charging. They are commonly installed in charging bu change pads or stations and those charging works may include inductive, resonant or radio frequency (RF) technology to meet the different charging requirements. Chargers, on the other hand, are built directly into the devices to be charged including hand-held gadgets like the Smart phones, the tablets, electric vehicles and the like while receivers are the components that are attached to the chargers and are tasked with the role of transforming the electromagnetic energy to electrical energy.
• As evident in the above description, the efficiency and compatibility of a wireless charging system are significantly influenced by these two parts. As a result of technology development, more emphasis is placed on increasing the efficiency, frequency range, and speed of transmitter as well as receivers’ elements of a market. Since the focus on the charge-coupled devices is shifting towards providing better convenience and ability to charge devices faster and simultaneously, the market of transmitter and receiver equipment also develops with the aim to support new applications.

By Technology , Inductive segment held the largest share in 2023

• Wireless charging market is classified by technologies into inductive, resonant, RF and others, each presenting their characteristics and usage. The inductive wireless technique is the most widely used since it uses the method of electromagnetic induction to transfer energy between a charging mat and the device making it to be commonly used range of devices such as in smartphones, wearables, smart devices and many others. Resonant wireless charging is an improvement on inductive technology and uses the methods of resonant inductive coupling that can cover more ground and are efficient in their energy transfer thus being adoptive in the energying of electric vehicles and other large electronic gadgets.
•  Short range and Lower power up Wireless Charging Method are Radio Frequency (RF) Charging which transmit energy through electromagnetic fields to charge the devices in IoT and small electronics. Other technologies are laser charging that uses lasers to chase energy through the air from several hundred to thousands of meters, and ultrasonic charging that uses sounds waves to transfer energy. Distance considerations, power level, and specific application use inevitably define the choice of technology and, hence, the development of new and innovative trends in the wireless charging market.

Wireless Charging Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period

• Wireless charging market is expected to grow at a faster rate in the Asia Pacific region over the forecast period due to the key factors such as technological novelty, the use of electronic devices, and favorable government initiatives. This growth is specially seen in countries such as China, Japan and South Korea which reflects the higher tendency among the client’s for consumptive electronics items and are home to major electronics giants. In the same regard, the automotive sector within the same region is on the ascends, and this has created a demand for wireless charging for electric cars, making the market more optimistic.
• Additional, the rising focus on smart city projects and subsequent infrastructural developments, ongoing in countries across Asia Pacific also holds immense growth potential because it augments the application of innovative wireless charging technologies in civilization and industry. In addition to this, a growth in expenditures on research and development activities that key players in the region are likely to trigger development of new and enhanced more efficient and cheaper wireless charging systems is likely to put the Asia Pacific ahead of other global regions.

Active Key Players in the Wireless Charging Market

• Belkin International, Inc. (USA)
• ConvenientPower HK Ltd. (Hong Kong)
• Energous Corporation (USA)
• Ossia Inc. (USA)
• Plugless Power LLC (USA)
• Powercast Corporation (USA)
• Powermat Technologies (Israel)
• Renesas Electronics Corporation (Japan)
• Samsung Electronics (South Korea)
• Texas Instruments, Inc. (USA)
• WiTricity Corporation (USA)
• Other key Player

Key Industry Developments in the Wireless Charging Market

• July 2022: Pathronic AG, a semiconductor company specified in wireless charging technology, has joined with Luxshare-ICT, a China-based design manufacturer (ODM) corporation specified in connector and interface technologies, to adopt NFC wireless charging in Computing and Consumer devices.
• September 2022: mophie (ZAGG Inc.) launched the snap+ multi-device travel charger, snap + charging stand & pad, and snap +3-in-1 wireless charging stand to its existing snap + wireless charging ecosystem. The new mophie enriched power solutions offer up to 15W of wireless power for at-home-based or on-the-go multi-device charging and are MagSafe compatible for Qi-enabled smartphones and iPhone 13/12 models.
• December 2022: Murata launched a new compact, low-power, low-cost wide area network (LPWAN) wireless product. The solution joins Semtech’s LoRa Edge LR 1110 transceiver IC and RF components and switches for a complete design. It is powered with an extensive voltage range of 1.8 to 3.6 V. It can be used in an operating temperature range of -40 to 85 degrees C.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Wireless Charging Market by Component
 4.1 Wireless Charging Market Snapshot and Growth Engine
 4.2 Wireless Charging Market Overview
 4.3 Transmitters
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Transmitters: Geographic Segmentation Analysis
 4.4 Receivers
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Receivers: Geographic Segmentation Analysis

Chapter 5: Wireless Charging Market by Technology
 5.1 Wireless Charging Market Snapshot and Growth Engine
 5.2 Wireless Charging Market Overview
 5.3 Inductive
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Inductive: Geographic Segmentation Analysis
 5.4 Resonant
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Resonant: Geographic Segmentation Analysis
 5.5 Radio Frequency
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Radio Frequency: Geographic Segmentation Analysis
 5.6 Others
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Others: Geographic Segmentation Analysis

Chapter 6: Wireless Charging Market by Application
 6.1 Wireless Charging Market Snapshot and Growth Engine
 6.2 Wireless Charging Market Overview
 6.3 Automotive
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Automotive: Geographic Segmentation Analysis
 6.4 Consumer Electronics
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Consumer Electronics: Geographic Segmentation Analysis
 6.5 Industrial
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Industrial: Geographic Segmentation Analysis
 6.6 Healthcare
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Healthcare: Geographic Segmentation Analysis
 6.7 Defense
  6.7.1 Introduction and Market Overview
  6.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.7.3 Key Market Trends, Growth Factors and Opportunities
  6.7.4 Defense: Geographic Segmentation Analysis
 6.8 Others
  6.8.1 Introduction and Market Overview
  6.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.8.3 Key Market Trends, Growth Factors and Opportunities
  6.8.4 Others: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Wireless Charging Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions
  
 7.2 BELKIN INTERNATIONAL
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 INC. (USA)
 7.4 CONVENIENTPOWER HK LTD. (HONG KONG)
 7.5 ENERGOUS CORPORATION (USA)
 7.6 OSSIA INC. (USA)
 7.7 PLUGLESS POWER LLC (USA)
 7.8 POWERCAST CORPORATION (USA)
 7.9 POWERMAT TECHNOLOGIES (ISRAEL)
 7.10 RENESAS ELECTRONICS CORPORATION (JAPAN)
 7.11 SAMSUNG ELECTRONICS (SOUTH KOREA)
 7.12 TEXAS INSTRUMENTS
 7.13 INC. (USA)
 7.14 WITRICITY CORPORATION (USA)
 7.15 OTHER KEY PLAYER

Chapter 8: Global Wireless Charging Market By Region
 8.1 Overview
 8.2. North America Wireless Charging Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Component
   8.2.4.1 Transmitters
   8.2.4.2 Receivers
  8.2.5 Historic and Forecasted Market Size By Technology
   8.2.5.1 Inductive
   8.2.5.2 Resonant
   8.2.5.3 Radio Frequency
   8.2.5.4 Others
  8.2.6 Historic and Forecasted Market Size By Application
   8.2.6.1 Automotive
   8.2.6.2 Consumer Electronics
   8.2.6.3 Industrial
   8.2.6.4 Healthcare
   8.2.6.5 Defense
   8.2.6.6 Others
  8.2.7 Historic and Forecast Market Size by Country
   8.2.7.1 US
   8.2.7.2 Canada
   8.2.7.3 Mexico
 8.3. Eastern Europe Wireless Charging Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Component
   8.3.4.1 Transmitters
   8.3.4.2 Receivers
  8.3.5 Historic and Forecasted Market Size By Technology
   8.3.5.1 Inductive
   8.3.5.2 Resonant
   8.3.5.3 Radio Frequency
   8.3.5.4 Others
  8.3.6 Historic and Forecasted Market Size By Application
   8.3.6.1 Automotive
   8.3.6.2 Consumer Electronics
   8.3.6.3 Industrial
   8.3.6.4 Healthcare
   8.3.6.5 Defense
   8.3.6.6 Others
  8.3.7 Historic and Forecast Market Size by Country
   8.3.7.1 Bulgaria
   8.3.7.2 The Czech Republic
   8.3.7.3 Hungary
   8.3.7.4 Poland
   8.3.7.5 Romania
   8.3.7.6 Rest of Eastern Europe
 8.4. Western Europe Wireless Charging Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Component
   8.4.4.1 Transmitters
   8.4.4.2 Receivers
  8.4.5 Historic and Forecasted Market Size By Technology
   8.4.5.1 Inductive
   8.4.5.2 Resonant
   8.4.5.3 Radio Frequency
   8.4.5.4 Others
  8.4.6 Historic and Forecasted Market Size By Application
   8.4.6.1 Automotive
   8.4.6.2 Consumer Electronics
   8.4.6.3 Industrial
   8.4.6.4 Healthcare
   8.4.6.5 Defense
   8.4.6.6 Others
  8.4.7 Historic and Forecast Market Size by Country
   8.4.7.1 Germany
   8.4.7.2 UK
   8.4.7.3 France
   8.4.7.4 Netherlands
   8.4.7.5 Italy
   8.4.7.6 Russia
   8.4.7.7 Spain
   8.4.7.8 Rest of Western Europe
 8.5. Asia Pacific Wireless Charging Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Component
   8.5.4.1 Transmitters
   8.5.4.2 Receivers
  8.5.5 Historic and Forecasted Market Size By Technology
   8.5.5.1 Inductive
   8.5.5.2 Resonant
   8.5.5.3 Radio Frequency
   8.5.5.4 Others
  8.5.6 Historic and Forecasted Market Size By Application
   8.5.6.1 Automotive
   8.5.6.2 Consumer Electronics
   8.5.6.3 Industrial
   8.5.6.4 Healthcare
   8.5.6.5 Defense
   8.5.6.6 Others
  8.5.7 Historic and Forecast Market Size by Country
   8.5.7.1 China
   8.5.7.2 India
   8.5.7.3 Japan
   8.5.7.4 South Korea
   8.5.7.5 Malaysia
   8.5.7.6 Thailand
   8.5.7.7 Vietnam
   8.5.7.8 The Philippines
   8.5.7.9 Australia
   8.5.7.10 New Zealand
   8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Wireless Charging Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Component
   8.6.4.1 Transmitters
   8.6.4.2 Receivers
  8.6.5 Historic and Forecasted Market Size By Technology
   8.6.5.1 Inductive
   8.6.5.2 Resonant
   8.6.5.3 Radio Frequency
   8.6.5.4 Others
  8.6.6 Historic and Forecasted Market Size By Application
   8.6.6.1 Automotive
   8.6.6.2 Consumer Electronics
   8.6.6.3 Industrial
   8.6.6.4 Healthcare
   8.6.6.5 Defense
   8.6.6.6 Others
  8.6.7 Historic and Forecast Market Size by Country
   8.6.7.1 Turkey
   8.6.7.2 Bahrain
   8.6.7.3 Kuwait
   8.6.7.4 Saudi Arabia
   8.6.7.5 Qatar
   8.6.7.6 UAE
   8.6.7.7 Israel
   8.6.7.8 South Africa
 8.7. South America Wireless Charging Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Component
   8.7.4.1 Transmitters
   8.7.4.2 Receivers
  8.7.5 Historic and Forecasted Market Size By Technology
   8.7.5.1 Inductive
   8.7.5.2 Resonant
   8.7.5.3 Radio Frequency
   8.7.5.4 Others
  8.7.6 Historic and Forecasted Market Size By Application
   8.7.6.1 Automotive
   8.7.6.2 Consumer Electronics
   8.7.6.3 Industrial
   8.7.6.4 Healthcare
   8.7.6.5 Defense
   8.7.6.6 Others
  8.7.7 Historic and Forecast Market Size by Country
   8.7.7.1 Brazil
   8.7.7.2 Argentina
   8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research