Global Wireless Charging Market Size, Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts to 2030

Wireless Charging is a process of electric power transfer from charging device/s or node to receiver devices powered by battery/ies and also equipment/s electrically without tangible wired power transfer. Wireless Charging Equipment consists of two components a charging system (Transmitter) which transmits electric power through the electromagnetic field and a Device Inbuilt Receiver which charges the battery. The Global Wireless Charging Market is estimated USD 9.79 billion in 2020 and anticipated to reach USD 71.4 billion by 2030 at a CAGR of 22% during the forecast period. However, it has many industrial applications such as electric vehicles, handheld terminals, contactless charging of subsea vehicles, factory automation, etc. Industrial applications of wireless charging demand the workability of portable equipment and its wireless charging system in the harsh conditions. With the absence of wired power transmission, a wireless charging system can be impregnable to the industrial environment. Moreover, due to the absence of wired power transfer, the usage of wireless charging is safe from hazards such as electrocution & fire escalation because of stray spark during connecting & disconnecting wired power transfer cable. In terms of applications, consumer electronics is the dominant industry in the market due to rapid and efficient consumer electronics manufacturing. Manufacturers have been aiming mobile & rechargeable consumer electronics such as laptops and smartphones.
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Market Dynamics and Factors:
Increased Mobility, ease of handling, rise in disposable income throughout the world, expanding expenditure on electronic gadgets, flexibility, protection against electric shocks, a convenient power transfer method for the Internet of Things (IoT) proliferation are stimulating the demand and market growth. Moreover, wireless charging technology integration in automobiles, embedded wireless charging in consumer electronics (such as wearable devices, tablets, and smartphones) and increased healthcare segment applications are driving awareness in the market about wireless power transmission technology. The aforementioned factors are the growth drivers for the global wireless charging market. Longer duration of charging, limited portability, lack of standardization of technology, limited range per charge (in case of electric vehicles application), charging potentials are the factors restraining the growth in this market. Increased IoT adoption & smart devices, technological advancement in wireless charging systems across the sectors, adoption of wireless charging & electric vehicle in automobiles, rising infrastructural developments (such as smart cities in developed & developing countries, wireless charging stations for electric vehicles across the globe), declining conventional methods (such as reliance on wired power transfer & fossil fuels in case of vehicles) are the factors that bring numerous opportunities for the market growth. Cost of up-gradation to wireless technology from conventional methodologies across sectors in developed & developing countries and also across the world.
Market Segmentation:
Global Wireless Charging Market – By Technology
Inductive charging system
Resonant charging system
Microwave wireless charging system
Radio Frequency charging system
others
Global Wireless Charging Market – By Application
Consumer electronics
Automotive
Industrial
Healthcare
Aerospace & Defense
Global Wireless Charging Market – By Standard
Wireless Power Consortium (WPC)
Power Matters Alliance (PMA)
Alliance for Wireless Power (A4WP)
Open Dots
Global Wireless Charging Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
North America holds prominence as compared to other regions in the market with expected to grow nearly at CAGR 14% during the forecast period. This region is driven by a range of innovative breakthroughs in the wireless power transfer. For example, the launch of the Q4 wireless bundle to Q3 wireless chargers which provides optimum charging speed coupled with compactivity and portable size was witnessed in the region. Furthermore, the rising demand for electric vehicles has stimulated manufacturers to invest in safer & efficient charging systems. The European market is predicted to grow a CAGR of 28.69% approx. which is 3rd highest market revenue in this market during the forecast period. Factors such as high urban penetration, high adoption of wireless power transmission, the fastest-growing electric vehicle wireless charging market & related infrastructure and huge scope in medical equipment are stimulating potential market growth opportunities for the market expansion. The Asia Pacific is the largest revenue generator for the global market which is expected to grow with a CAGR of 42.94% approx... APAC is mainly segmented on the basis of applications, technology, and components. Various factors such as increased penetration of smartphones, the large consumer electronics base, rising wireless computing devices adoption are primary growth drivers. Moreover, suppliers for ICs required in wireless power transmission are developing miniaturized & high energy transfer efficient ICs. Amongst other regional markets, China is leading the market but also Japan, India, South Korea, and Australia are the major revenue contributors to the regional market. As in the Middle East region, the growth in the market driven by Gulf Countries & heavy investment by Israel but in Africa, the market is in the nascent stages of adoption. Latin America is expected to grow in the forecast period, as it lacks the adoption of wireless power transmission into the masses.
Competitive Scenario:
These are the key players in the market which drive the market demand such as Qualcomm Inc., Oregon Scientific Inc., Integrated Device Technology Inc., Samsung Electronics Co. Ltd., Leggett & Platt Inc., Texas Instrument Inc., Powermat Technologies Ltd., Witricity Corporation, Murata Manufacturing Co. Ltd., Energizer Holdings Inc., Convenient Power HK Ltd., Mojo Mobility Inc., NXP Semiconductor N.V., TDK Corporation, Semtech Corporation.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Wireless Charging industry, although key threats, opportunities and disruptive technologies that could shape the Global Wireless Charging Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Wireless Charging Market most.
The data analysis present in the Global Wireless Charging Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Wireless Charging Market business.
The 2021 Annual Global Wireless Charging Market offers:
100+ charts exploring and analysing the Global Wireless Charging Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Wireless Charging Market type
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