What is the global market size of Wireless Charging Market?

Wireless Charging Market size was valued at USD 5.36 billion in 2021 and is poised to grow from USD 6.39 billion in 2022 to USD 26.06 billion by 2030, at a CAGR of 19.2% during the forecast period (2023-2030).

Global Wireless Charging Market Size, Share, Growth Analysis, By Technology(Inductive, resonant), By End Use Industry(Automotive, healthcare) - Industry Forecast 2024-2031

Report ID: SQMIG45J2149 | Region: Global | Published Date: March, 2024
Pages: 197 | Tables: 66 | Figures: 74

Global Wireless Charging Market Insights

Global Wireless Charging Market size was valued at USD 6.39 Billion in 2022 and is poised to grow from USD 7.62 Billion in 2023 to USD 31.04 Billion by 2031, at a CAGR of 19.2% during the forecast period (2024-2031).

The global wireless charging market has been witnessing a significant growth driven by the increasing adoption of wireless charging technology in smartphones, smartwatches, and other consumer electronics. The market is also being fueled by the growing demand for electric vehicles, which require wireless charging technology to recharge their batteries. The purpose of the global wireless charging market is to provide a convenient and efficient way to charge electronic devices without the need for cords and cables. The market aims to simplify the charging process for consumers while also reducing clutter and improving safety. Despite the growth potential of the market, there are also several factors that could restrain its growth, such as high costs, limited range, and incompatibility with some electronic devices. Some of the key trends in the market include the integration of wireless charging technology in furniture and automobiles and the development of long-range wireless charging technology. The global market presents several opportunities for growth and innovation, such as expansion into emerging markets, development of more efficient and cost-effective wireless charging technology, and integration of wireless charging technology in public spaces and transportation.

Global Wireless Charging Market Report Snapshots

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Global Wireless Charging Market is witnessing intense competition among key players operating in the industry. The market is characterized by the presence of several established companies as well as emerging players, all striving to gain a significant market share. These companies are continuously engaged in research and development activities to enhance their product offerings and stay ahead in the competitive landscape. The global wireless charging market is further intensified by the entry of new players. Startups and smaller companies are introducing novel wireless charging technologies, disrupting the market and challenging the dominance of established players. These emerging players often focus on niche markets or specific applications, offering unique solutions that cater to specific customer demands. In addition to the hardware and device manufacturers, there is also a competitive landscape in the software and infrastructure segment of the wireless charging market. Companies are developing software solutions and infrastructure to enable seamless wireless charging experiences. This includes the development of charging management systems, wireless power transfer algorithms, and integration with smart home and IoT ecosystems. 'Qualcomm Incorporated (US)', 'Samsung Electronics Co., Ltd. (South Korea)', 'Apple Inc. (US)', 'Texas Instruments Incorporated (US)', 'Broadcom Inc. (US)', 'Toshiba Corporation (Japan)', 'Energizer Holdings, Inc. (US)', 'Sony Corporation (Japan)', 'Panasonic Corporation (Japan)', 'Powermat Technologies Ltd. (Israel)', 'Integrated Device Technology, Inc. (US)', 'NXP Semiconductors N.V. (Netherlands)', 'Murata Manufacturing Co., Ltd. (Japan)', 'WiTricity Corporation (US)', 'PowerbyProxi Ltd. (New Zealand)', 'ConvenientPower HK Limited (Hong Kong)', 'ZTE Corporation (China)', 'Powercast Corporation (US)', 'PowerSphyr Inc. (US)'

The proliferation of electronic devices such as smartphones, tablets, smartwatches, and wireless earbuds has driven the demand for wireless charging solutions. Consumers are increasingly looking for convenient and hassle-free charging methods that eliminate the need for cables and connectors. This driver has led to the integration of wireless charging capabilities in a wide range of devices. For example, Apple's latest iPhone models, Samsung Galaxy smartphones, and various other electronic gadgets now support wireless charging.

Integration of wireless charging in furniture and public spaces: A growing trend in the wireless charging market is the integration of charging capabilities in furniture and public spaces. Furniture manufacturers are incorporating wireless charging pads into desks, tables, and nightstands, allowing users to conveniently charge their devices while using or resting them on the furniture. Moreover, various public spaces such as airports, restaurants, and hotels are installing wireless charging stations to provide charging facilities to their customers. This trend enhances the accessibility and convenience of wireless charging, making it more prevalent in daily life.

North America dominated the Global Wireless Charging Market, with a market share of over 35%. This region's dominance can be attributed to the high adoption rate of smartphones and other mobile devices, coupled with the presence of several key market players. The United States is the largest market for wireless charging in North America, with significant demand from consumers and businesses alike.

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Global Wireless Charging Market Size, Share, Growth Analysis, By Technology(Inductive, resonant), By End Use Industry(Automotive, healthcare) - Industry Forecast 2024-2031

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