Global Wireless Charging Market By Technology (Inductive, Radio Frequency, and Other Technologies), By End-Use Industries (Automotive, Consumer Electronics, Healthcare, and Other End-Use Industries), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Global Wireless Charging Market was valued at USD 7.7 Billion in 2022. This market is estimated to register the highest CAGR of 24.2% and is expected to reach USD 63.7 billion during the forecast period of 2023-2032. Wireless charging is becoming increasingly popular in portable devices as it eliminates the need for exposed ports and cables from the devices.

Wireless charging transfers energy from a power source to the devices. With the expansion of wireless mobile devices or portable devices, the demand for wireless charging is increasing significantly. These wireless charging systems work on a process of a power supply, a charging base, and a receiver that receives power and charges the battery of the devices. This market report provides a detailed analysis of the Wireless Charging market size, share, growth, key trends, and other key factors.

Convenience is the biggest advantage of wireless charging, which is now a real contender to replace wired charging systems. Wireless charging technology aims to eliminate cables from smartphones and laptops to kitchen appliances and cars to improve efficiency and portability. Wireless charging innovations are changing the face of the wireless charging market.

Increasing market demand for wireless charging solutions due to convenience and safety in various sectors like healthcare are key factors anticipated to boost the market growth of wireless charging during the forecast period. Wireless charging is in high demand in the healthcare industry by used to improve the efficiency and performance of medical equipment and devices.

Driving Factors

Integration of Different Technologies in the Wireless Chargers

The rising adoption of wireless charging across different sectors is a key driver for the rapid growth of the wireless charging market. Many electronic devices and electric vehicles are charged by wireless charging. This is possible by the integration of technology like inductive in the chargers. After that, resonance technology is also used in many wireless chargers.

This improves the efficiency of chargers by processing the power transmission between transmitter and receiver at a long distance. Major companies in wireless charger manufacturing are focusing on developing wireless chargers with high safety, efficiency, and low cost. The attempts from companies to upgrade wireless chargers and the increasing adoption of wireless charging are anticipated to drive the growth of the wireless charging market during the forecast period.

Restraining Factors

High Costs and Slow Charging Speed

Many customers prefer wired chargers over wireless chargers for their portable devices and vehicles due to factors like high cost, slow charging as compared to wired chargers, and energy loss in wireless charging. These factors are obstructing the growth of the wireless charging market. Additionally, customers prefer wired chargers to wireless chargers due to small adapters and charging pads as compared to wireless chargers.

Wireless chargers require ‘Qi-compatible’ devices for wireless charging. This makes it difficult for many manufacturers to offer wireless charging in their products due to the absence of ‘ Qi-compatible’ devices. To counter this problem, many manufacturers are focusing on the development of external wireless technology. These factors affect market growth negatively.

COVID-19 Impact Analysis:

COVID-19 had a Negative Impact on the Wireless Charging Market

The COVID-19 pandemic negatively affected the global wireless charging market due to COVID-19 restrictions and regulations, which halted production in many companies across different sectors like automotive, consumer electronics, medical devices, and many more industries. The difficulties in transportation due to COVID-19 restrictions halted this market during the pandemic. However, after lifting the COVID-19 restrictions, the wireless charging market has seen significant growth.

By Technology Analysis

Inductive Technology Predominantly Used in Wireless Charging Systems

Wireless charging is classified on a technology basis into inductive, radio frequency, resonant and other technologies. Among all the technologies, an inductive technology segment is anticipated to dominate the wireless charging market by accounting for a major revenue share in the market during the forecast period.

The growth of inductive technology in the wireless charging industry is due to its expanded applications in laptops, smartwatches, smartphones, vehicles, toothbrushes, power tools, medical devices, and many other applications. This is possible because of the open interface standards like the ‘Qi wireless charging system.’ The system works by transferring the power wirelessly from the power source to the device at 4 cm. The wide use of inductive wireless charging is driving the growth of the wireless charging market.

After the inductive technology in wireless charging, the resonance technology segment is anticipated to grow at a significant CAGR during the forecast period. The resonance technology is used to improve it to improve the spatial freedom in wireless chargers.

Integration of resonance technology in wireless charging offers advantages like flexibility, multiple devices charging at the same time, good thermal control, and many more. The receiver coils and transmission coils in resonance-integrated wireless chargers increase the power transmission capacity of chargers that allows the devices to function properly for a long time. These factors are expected to drive the market growth of the resonance segment during the forecast period.

By End-Use Industry Analysis

Consumer Electronics Dominated the Market Due to Heavy Use of Wireless Charging in the Portable Devices

Based on the end-use industry, the wireless charging market is divided into healthcare, automotive, aerospace & defense, consumer electronics, industrial, and other end-use industries. From these end-use industries, the consumer electronics segment leads the market by covering the major revenue share in the this market.

The growth of the consumer electronics segment is due to the increasing adoption of wireless charging in electronic devices like smartphones, smartwatches, tablets, laptops, gaming consoles, and power banks. Also, the trend of advanced lifestyle and increased internet users are anticipated to drive the growth of the consumer electronics segment through the forecast period.

After consumer electronics, the healthcare sector is anticipated to register a significant revenue share in the market during the forecast period. The growth of the healthcare sector is attributed to the increasing use of wireless charging in many medical devices.

Disturbances in medical surgeries and treatments due to power cuts can negatively impact the healthcare sector. Therefore, to avoid such situations healthcare sector is more inclined towards cordless and wireless charging devices that increase efficiency during treatments. All these factors are boosting the growth of the healthcare sector during the forecast period.

Key Market Segments:

By Technology

• Inductive
• Radio Frequency
• Resonance
• Other Technologies

By End-Use Industry

• Automotive
• Consumer Electronics
• Healthcare
• Industrial
• Aerospace & Defense
• Other End-Use Industries

Growing Opportunities

Government Support and Integration of Resonance Technology in Wireless Chargers

By integrating resonance technology in the wireless chargers, many devices can be charged at the same time and with the same charger. For example, the apple wireless charger can charge all its products at one time, like iPhone. I pad, smartwatches, and air pods. The resonance integrate chargers are efficient and portable, which avoids the requirement of different chargers and cables at the same time.

Resonance-integrated chargers are creating many opportunities in the wireless charging market. Major Players are investing heavily in the development of such chargers to offer a single wireless charger for multiple devices. This creates opportunities for companies to expand their business share in the market.

Also, governments across the world are investing and funding the research and development of wireless charging technology that offers efficiency and security in the market. These factors are promoting the development of wireless chargers in the market.

Latest Trends

Wireless Charging For Electric Vehicles is Under Development From Many Major Companies

The trend of rising adoption of electric vehicles is fueling the growth of the wireless charging market. To ensure seamless long-distance travel in electric vehicles, customers have to plug the charger in the electric vehicle’s battery pack physically. And this is a big problem for electric vehicle customers. To tackle this problem, many major companies are focusing on the development of wireless chargers for electric vehicles in the market.

Also, many key players in the wireless charging market, like Google, Samsung, and Apple, are focusing on technological developments and innovations to expand their market share in various regional markets.

Regional Analysis:

North America Covers Large Revenue Share of 37.6% in the Global Wireless Charging Market

North America dominated the global wireless charging market by accounting for a major revenue share of 37.6%. The growth of this market is attributed to the increased technological developments in the region. The rising demand for wireless charging in consumer electronics and the automotive sector is driving the growth of the market in the region. The growing usage of electronic devices like laptops, tablets, smartphones, and other devices is expected to drive the growth of the wireless charging market in the region during the forecast period.

After North America, Asia Pacific is anticipated to register a significant CAGR in the wireless charging market during the forecast period. The growth of the Asia Pacific market is due to the presence of a major population in the country, which increased the demand for consumer electronics and the automotive sector. The developments and innovations in sectors like automotive and consumer electronics in this region are driving the growth of the market in the region.

Key Regions and Countries:

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Share & Key Players Analysis:

Major companies in the wireless charging market are focusing on strategies to expand their market share and strengthen their position in the market. Companies are adopting the strategies like mergers, acquisitions, collaborations, and partnerships for their business expansion. Some of the key players in the wireless charging market are Samsung Electronics, Sony Corporation, Qualcomm Incorporated, Fulton Innovation LLC, Texas Instruments, Witricity Corporation, Energous Corporation, Powerbyproxi Ltd, Powermat Technologies, ZenS B.V., Ossia Inc., and other key players.

Key Players in Wireless Charging Market:

• Samsung Electronics
• Sony Corporation
• Fulton Innovation LLC
• Qualcomm Incorporated
• Texas Instruments
• Energous Corporation
• Witricity Corporation
• Powerbyproxi Ltd
• Powermat Technologies
• Ossia Inc.
• ZenS B.V.
• Other Key Players

Recent Developments:

• In April 2020, OnePlus Technology CO. Ltd. Launched the ‘Warp Charge 30’. It is a wireless charger for their OnePlus 8 smartphones.
• In September 2020, Ossia Inc. Launched its next-generation platform, ‘Cota 2.4 GHz’, for commercial and industrial use. This advance wireless power system offers a compact size, low weight, low power consumption, and better transmission.

Report Scope: