Market Research Report

Global Wireless Charging Market Research Report: Forecast (2023-2028)

By Technology (Magnetic Resonance, Magnetic Induction, Radio Frequency), By Implementation (Transmitters, Receivers, Aftermarket, Integrated), By Application (Consumer Electronics,...Automotive, Healthcare, Industrial, Others), By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific), By Company (Samsung, Energous Corporation, Powermat, Powercast Corporation, Elix Wireless, Zens, Energizer, Ossia Inc., Evatran Group, Leggett & Platt, Fulton Innovation LLC, Murata Manufacturing Company Ltd., Qualcomm Technologies, Inc., Sony Corporation, Texas Instruments, Inc., Others) Read more

  • ICT & Electronics
  • Apr 2023
  • 189
  • PDF, Excel, PPT

Market Definition

Wireless charging is a cordless power transfer that provides charging to portable devices without wired connectivity. They are typically used to supply power for smartphones, smartwatches, tablets, handheld industrial devices, etc., which offer better user interaction, reachability, and automation.

Market Insights & Analysis: Global Wireless Charging Market (2023-28)

The Global Wireless Charging Market is projected to grow at a CAGR of around 24.4% during the forecast period, i.e., 2023-28. The rising adoption of wireless technology in consumer electronics is one of the chief factors that propel the overall market growth. Consumers are opting for chargers with increased positioning freedom, shorter charging times, and other features.

Therefore, the hassle-free solutions in wireless charging sufficed the increased demand among consumers. Thus, the growth of these wireless solutions, along with machine-machine and IoT connectivity, creates an overall demand for wireless technology. The increasing tendency toward wireless gadgets, with the burgeoning number of multiple device adoption in consumers' day-to-day lives, will serve as a prominent driving force for advanced charging technology development.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 24.4%
Regions Covered North America: US, Canada, Mexico
Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
South America: Brazil, Argentina, Rest of South America
Middle East & Africa: The UAE, Saudi Arabia, Turkey, South Africa, Rest of Middle East & Africa
Key Companies Profiled Samsung, Energous Corporation, Powermat, Powercast Corporation, Elix Wireless, Zens, Energizer, Ossia Inc., Evatran Group, Leggett & Platt, Fulton Innovation LLC, Murata Manufacturing Company Ltd., Qualcomm Technologies, Inc., Sony Corporation, Texas Instruments, Inc., Others
Unit Denominations USD Million/Billion

 

Additionally, the innovation of multi-device chargers for simultaneous charging and the popular trend of drop & charge implemented through inductive technology further extends the market ascension. Further, the rising number of electric vehicles (EVs) resulted in an exponential increase in the use of wireless technology. Electric vehicles are environment-friendly & fuel-efficient compared to internal combustion engines. The resonance technology of wireless chargers enables the driver to park their vehicle over a charging pad. Therefore, dedicated research and development on the advanced integration of wireless technology in charging electric vehicles are opening further lucrative opportunities for the industry.

Market Dynamics

Key Driver: Innovation of Multi-device Chargers for Simultaneous Charging

The innovation of multi-device chargers that simultaneously charge multiple devices is driving the market with the added benefits of saving time charging various devices and smart energy utilization. Further, industries are investing in developing radio frequency (RF) based wireless technology that can rapidly charge multiple devices within a 3D range.


Global Wireless Charging Market Research Report: Forecast (2023-2028)

In RF wireless charging, an antenna embedded in an electronic device picks the radio frequency and converts it into direct current (DC) voltage. Thus, it eliminates the entire requirement of conventional charging types and encourages consumers to opt for RF technology extending the industrial ascension. The burgeoning popularity and new innovative product launches by key players are augmenting the value of the market. For instance:

  • In January 2023, Samsung unveiled & announced SmartThings Station, an easy-to-use and affordable smart hub and fast charging pad.

Possible Restraint: Limitation of Wireless Charging Standards

Generally, wireless mode of charging is advantageous only for devices compatible with Qi-enabled wireless charging standards, and then it takes comparatively 30-80% more time to charge than cable charging. Moreover, Qi-enabled technology consists of two standards, wireless power consortium (WPC) & Airfuel alliance.

Therefore, as end-users are compelled to invest a large amount of money in following both standards, they are avoiding wireless chargers since cable chargers are much cheaper & simpler, hampering industrial expansion. Moreover, the absence of a common charging standard and competition between charging standards is leading to lesser consumption of wireless chargers, further restraining market expansion.

Growth Opportunity: Immense Popularity of Wireless Technology in the EV Industry

The method gained immense popularity in the electric vehicles industry resulting in continuous research and development investments among the market players to replace the traditional charging method. Further, many international organizations, such as the Society of Automotive Engineers (SAE) & Underwriter Laboratories (UL), are actively working on improving EV charging systems, converting charging infrastructure to smart charging stations producing new lucrative opportunities, thus amplifying the Global Wireless Charging Market size.

Since electric vehicle charging stations are yet at their initial stages of establishment & charging for EVs is also at a developmental stage, it poses a lucrative opportunity for the industry with technological advancements & further modifications.

Key Trend: Rising Trend of Drop & Charge based on Induction Charging

The surging trend of wireless charging as drop and charge through induction charging technology fuel the market expansion. Induction charging is based on the principle of electromagnetism when two objects, mainly transmitter and receiver, transfer energy through the electromagnetic field without touching each other. Further, along with the electromagnetic field, it uses other technologies, such as radio frequency (RF), to solve charging problems in numerous devices. As induction charging completely eliminates the requirement of cable or contact between the charger and the device, it has been exponentially trending among gadget enthusiasts propelling industrial growth.

Market Segmentation

Based on Technology,

  • Magnetic Resonance
  • Magnetic Induction
  • Radio Frequency

On the other hand, Magnetic Induction Technology is also expected to grow considerably to acquire a significant market share, owing to the rising implementation of magnetic induction in wireless chargers for smartphones. Besides, the high consumption of Magnetic inductive chargers vastly used in the healthcare sector to charge numerous medical devices further facilitates market expansion.

Among these, Magnetic Resonance is expected to be the fastest-growing technology in the coming years. Furthermore, it is a charging method for devices that require a large amount of power, up to 11KW. Thus it is typically facilitated to charge multiple devices from the same charger; therefore, it can flexibly charge electric cars, laptops, computers, vacuum cleaners, etc.

Based on the Application,

  • Consumer Electronics
  • Automotive
  • Healthcare
  • Industrial

Among its peers, Consumer Electronics are projected to generate larger revenue in the anticipated period. Consumer electronics, such as smartphones, tablets, wearable devices, laptops, and Personal Digital Assistances (PDAs), are all in great demand for such products, propelling the market growth. Since such techniques can charge any battery-powered device by putting it close to the wireless power transmitter, the process of charging becomes easier, and the task of finding a compatible cord is eliminated by wireless technology.

Moreover, Near Field Communication (NFC) and Bluetooth can coexist alongside wireless charging, allowing access to highly inventive solutions and extending industrial expansion since the device functioning during charging is not hindered. Furthermore, the accessibility of consumers to numerous consumer electronics and the rising number of gadgets adopted due to the smart home full of devices infused with new technology are extending industrial accession.

Regional Projection

Geographically, the Global Wireless Charging Market expands across:

  • North America
  • South America
  • Europe
  • Middle East & Africa
  • Asia-Pacific

Globally, North America is expected to earn the largest revenue share of the market in the forecast period. It is attributed to the growing influx of premium smart devices with flagship products and the significant technological developments. In addition, the tech-savvy population of the country is leading to accelerated adoption of new gadgets and devices, proliferating the need for an advanced charging device or system. Furthermore, the growing penetration of IoT-based applications and innovation of new electronic gadgets is pushing market expansion.

On the other hand, Asia Pacific is expected to record the highest growth rate in the coming years owing to the residing developing economies like India and China being the major raw material providers and being the manufacturing hub for consumer electronics, automotive, and healthcare applications, Additionally with rising disposable income and increasing spending habits coupled with the constant penetration of digitalization, Internet of things (IoT) raising affordability to buy multiple gadgets and devices both for leisure and requirement is leading to further market expansion.

Recent Developments in the Global Wireless Charging Market

  • In January 2023, Powercast Corporation unveiled a CES award-winning ubiquity low-cost RF power transmitter to provide homes with convenient over-the-air wireless charging.
  • In September 2022, Ossia Inc. announced the securing of 200 global patents for wireless-power-over-air technology.

Gain a Competitive Edge with Our Global Wireless Charging Market Report

  1. Global Wireless Charging Market Report by Markntel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
  2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  3. Global Wireless Charging Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The Wireless Charging Market is projected to grow at a CAGR of around 24.4% during the forecast period, i.e., 2023-28.

   A. The innovation of a multi-device charger for simultaneous charging is expected to drive the Wireless Charging Market during 2023-28.

   A. Samsung, Energous Corporation, Powermat, Powercast Corporation, Elix Wireless, Zens, Energizer, Ossia Inc., Evatran Group, Leggett & Platt, Fulton Innovation LLC, Murata Manufacturing Company Ltd., Qualcomm Technologies, Inc., Sony Corporation, Texas Instruments, Inc., and others are the top players in the market.

   A. Consumer electronics is anticipated to emerge as an area of remunerative opportunities for the leading players in the market during the forecast period.

   A. North America would provide lucrative prospects in the Wireless Charging Market during 2023-28.

   A. The rising trend of drop & charge based on induction charging shapes the market through 2028.

   A. The immense popularity of wireless technology in the EV industry is the growth opportunity driving the market through 2028

   A. Limitations of wireless charging standards are the possible restraint affecting the expansion of the market in the coming years.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Global Wireless Charging Market Trends & Insights
  5. Global Wireless Charging Market Dynamics
    1. Growth Drivers
    2. Challenges
  6. Global Wireless Charging Market Hotspot & Opportunities
  7. Global Wireless Charging Market Policies & Regulations
  8. Global Wireless Charging Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
    2. Market Share & Analysis
      1. By Technology
        1. Magnetic Resonance
        2. Magnetic Induction
        3. Radio Frequency
      2. By Implementation
        1. Transmitters
        2. Receivers
        3. Aftermarket
        4. Integrated
      3. By Application
        1. Consumer Electronics
        2. Automotive
        3. Healthcare
        4. Industrial
        5. Others (Aerospace and Defence, etc.)
      4. By Region
        1. North America
        2. South America
        3. Europe     
        4. The Middle East & Africa
        5. Asia-Pacific
      5. By Competitors
        1. Competition Characteristics
        2. Market Share & Analysis
  9. North America Wireless Charging Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
    2. Market Share & Analysis
      1. By Technology
      2. By Implementation
      3. By Application
      4. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
    4. Canada Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
    5. Mexico Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
  10. South America Wireless Charging Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
    2. Market Share & Analysis
      1. By Technology
      2. By Implementation
      3. By Application
      4. By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
    3. Brazil Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
    4. Argentina Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
  11. Europe Wireless Charging Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
    2. Market Share & Analysis
      1. By Technology
      2. By Implementation
      3. By Application
      4. By Country
        1. The UK
        2. Germany
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
    3. The UK Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
    4. Germany Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
    5. France Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
    6. Italy Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
    7. Spain Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
  12. The Middle East & Africa Wireless Charging Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
    2. Market Share & Analysis
      1. By Technology
      2. By Implementation
      3. By Application
      4. By Country
        1. The UAE
        2. Saudi Arabia
        3. Turkey
        4. South Africa
        5. Rest of Middle East & Africa
    3. The UAE Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
    4. Saudi Arabia Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
    5. Turkey Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
    6. South Africa Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
  13. Asia-Pacific Wireless Charging Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
    2. Market Share & Analysis
      1. By Technology
      2. By Implementation
      3. By Application
      4. By Country
        1. China
        2. Japan
        3. South Korea
        4. India
        5. Australia
        6. Rest of Asia Pacific
    3. China Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
    4. Japan Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
    5. South Korea Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
    6. India Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
    7. Australia and New Zealand Wireless Charging Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue (USD Million)
      2. Market Share & Analysis
        1. By Technology
        2. By Application
  14. Global Wireless Charging Market Key Strategic Imperatives for Success & Growth
  15. Competition Outlook
    1. Competition Matrix
      1. Target Markets
      2. Research & Development
      3. Collaborations & Strategic Alliances
      4. Key Business Expansion Initiatives
      5. Business Restructuring- Mergers, Acquisitions, JVs
      6. Strategic Initiatives
    2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Samsung
      2. Energous Corporation
      3. Powermat
      4. Powercast Corporation
      5. Elix Wireless
      6. Zens
      7. Energizer
      8. Ossia Inc.
      9. Evatran Group
      10. Leggett & Platt
      11. Fulton Innovation LLC
      12. Murata Manufacturing Company Ltd.
      13. Qualcomm Technologies, Inc.
      14. Sony Corporation
      15. Texas Instruments, Inc.
      16. Others
  16. Disclaimer


Wireless Charging Market - Segmentation Slide