Wireless Charging Market Size was valued at USD 7.2 Billion in 2023. The Wireless Charging industry is projected to grow from USD 8.79 Billion in 2024 to USD 35.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 19.17% during the forecast period (2024 - 2032). Increased demand for smartphones and the rising market for electric vehicles are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for wireless charging is driven by the rising demand for electronic vehicles. All through the forecast period, it is expected that rising electronic vehicle sales, the rapidly developing wearable and portable electronics markets, and rising demand for RF energy harvesting will propel the expansion of the wireless charging market. But the market’s expansion is expected to be hampered by the pricey technology required for its integration and slower charging compared to other charging technologies. Additionally, it is anticipated that ongoing research into far-field wireless charging technologies and the increased usage of the Internet of Things (IoT) would give a profitable potential for the market’s future expansion.
Moreover, smartphones, laptops, wearable gadgets, and portable devices mostly employ wireless power transmission. The industry for wireless charging for electronics is anticipated to experience substantial growth due to the surge in the use of effective charging systems for wearable and portable electronics. These systems can boost a device’s longevity. IoT is also becoming more well-known and is regarded as the third wave of technology. Wireless charging is also necessary for many IoT-targeted portable electronics products, including smartphones, digital cameras, camcorders, laptops, tablets, wearable tech and home appliances. Consequently, the IoT industry’s rising popularity is anticipated to present a chance for market expansion. Thus, driving the Wireless Charging market revenue.
The Wireless Charging Market segmentation, based on technology, includes inductive coupling, capacitive coupling, and others. The inductive coupling segment dominated the market, accounting for maximum market revenue. The battery and charger pad make up the full system in inductive coupling. Energy is transmitted from the charging pad to the battery using planar coils in each component.
The electrical energy is modulated to allow communication between the battery and the charging pad. Because of this, the charging pad may check to see if a working battery is installed before giving the battery its maximum amount of power. Numerous wireless chargers for cell phones employ this technology. Additionally, inductive chargers are frequently utilized in the healthcare industry to charge various medical devices.
The Wireless Charging Market segmentation, based on component, includes transmitters and receivers. The receivers category generated the most income due to several devices being used to charge through a single source. As a result, there are more electronic vehicles on the road than charging facilities. A wireless charger transmits radio frequencies picked up by a receiver within the device and converted to DC voltage for wireless charging. Users may charge more easily thanks to wireless power transmission because it doesn’t rely on the transmitter and receiver being lined up.
The Wireless Charging Market segmentation, based on application, includes consumer electronics, industrial, infrastructure, automotive, and others. The automotive category generated the most income due to the rising use of electric vehicles, resulting in an increasing demand for electric chargers. The unit rate of wireless electric vehicle chargers is costly, increasing the revenue share of the automotive segment in the market. Furthermore, the consumer electronics segment is anticipated to be the fastest-growing segment in the projected period due to the rising demand for wireless chargers in the consumer electronics segment.
By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Wireless Charging market area will dominate this market, owing to an increase in the usage of smartphones. In addition, the growing number of electric vehicle sales will boost market growth in this region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Wireless Charging market accounts for the second-largest market share due to advanced and modern manufacturing units of charging facilities for electric vehicles. Further, the German Wireless Charging market held the largest market share, and the UK Wireless Charging market was the fastest-growing market in the European region.
The Asia-Pacific Wireless Charging Market is expected to grow at the fastest CAGR from 2024 to 2032 due to the adequate availability of advanced electric vehicle manufacturing units and modern research & development facilities. Moreover, China’s Wireless Charging market held the largest market share, and the Indian Wireless Charging market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Wireless Charging market, grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Wireless Charging industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturer’s use in the global Wireless Charging industry to benefit clients and increase the market sector. In recent years, the Wireless Charging industry has offered some of the most significant advantages to the electronic market. Major players in the Wireless Charging market, including Samsung Electronics Co. Ltd., Qualcomm Incorporated, Texas Instruments, Integrated Device Technology Inc., Powermat Technologies Ltd., WiTricity Corporation, Energizer Holdings Inc., Murata Manufacturing Co. Ltd., Sony Corporation, Fulton Innovation LLC, Renesas Electronics Corporation, and others, are attempting to rise market demand by investing in research and development operations.
WiTricity Corporation is an American wireless charging technology business headquartered in Watertown, Massachusetts. WiTricity licenses technology and reference designs for wireless electric vehicle charging and consumer goods, including laptops, mobile phones, and televisions. WiTricity technology enables wireless power transmission across distances using magnetic resonance. For Instance: In June 2022, WiTricity made approximately USD 63 million in Siemens. Through this investment, Siemens and Witricity will collaborate to promote innovation in the developing wireless electronic car charging sector. With this further funding, they will be able to speed up the introduction of solutions for both consumer and commercial wireless charging and develop wireless V2G capabilities, which will enable parked electric vehicles to recharge the grid.
Renesas Electronics Corporation continuously aims to push innovation with various microcontrollers, analog, and power devices. The company’s products and solutions embedded everywhere-company wants to create a safer, healthier, greener, and smarter world by supplying intelligence to four key growth segments- Automotive, Industrial, Infrastructure, and IoT- all essential for everyday life. In 2020, the company created the Renesas Culture, which the company believes should be embraced by the whole Renesas Group and its employees. Five components comprise the guideline, which serves as a point of reference for all actions, conduct, and decision-making. “Transparent, Agile, Global, Innovative, Entrepreneurial.” These components lay the groundwork for a business to adapt to changes, address problems, and sustainably create value. For Instance: In March 2022, Renesas Electronics Corporation launched a customer orientation design for automotive wireless charging stations. The new P9261-3C-CRBv2 delivers features that allow automotive manufacturers to quickly and proficiently deliver premium performance and safety features for in-cabin wireless charging.
Qualcomm Incorporated
Texas Instruments
Integrated Device Technology Inc.
Powermat Technologies Ltd.
WiTricity Corporation
Energizer Holdings Inc.
Murata Manufacturing Co. Ltd.
Sony Corporation
Fulton Innovation LLC
Renesas Electronics Corporation
Inductive Coupling
Capacitive Coupling
Others
Transmitters
Receivers
Consumer Electronics
Industrial
Infrastructure
Automotive
Others
North America
Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Attribute/Metric | Details |
| Market Size 2023 | USD 7.2 Billion |
| Market Size 2024 | USD 8.79 Billion |
| Market Size 2032 | USD 35.8 Billion |
| Compound Annual Growth Rate (CAGR) | 19.17% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology, Components, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Samsung Electronics Co. Ltd., Qualcomm Incorporated, Texas Instruments, Integrated Device Technology Inc., Powermat Technologies Ltd., WiTricity Corporation, Energizer Holdings Inc., Murata Manufacturing Co. Ltd., Sony Corporation, Fulton Innovation LLC, Renesas Electronics Corporation |
| Key Market Opportunities | Rising disposable income Changing customer preference to spend on high-quality consumer electronic goods |
| Key Market Dynamics | Increasing demand for smartphones Growing electronic vehicles market |
Frequently Asked Questions (FAQ) :
The Wireless Charging Market size was valued at USD 7.2 Billion in 2023.
The global market is projected to grow at a CAGR of 19.17% during the forecast period, 2024-2032.
North America had the largest share of the global market
The key players in the market are Samsung Electronics Co. Ltd., Qualcomm Incorporated, Texas Instruments, Integrated Device Technology Inc., Powermat Technologies Ltd., WiTricity Corporation, Energizer Holdings Inc., Murata Manufacturing Co. Ltd., Sony Corporation, Fulton Innovation LLC, Renesas Electronics Corporation.
The inductive coupling category dominated the market in 2022.
The transmitters had the largest share of the global market.
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Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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