Wireless Charging Market Overviews
Wireless Charging Market size was valued at USD 18.4 Billion in 2023 and the total Wireless Charging size is expected to grow at a CAGR of 21.72 % from 2024 to 2030, reaching nearly USD 72.82 Billion by 2030.
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Wireless charging is the process of electrically charging battery-powered devices and equipment without the need for a wired electrical power connection. It enables the wireless transfer of electrical charge from a charging device or node to the recipient device. In the context of IoT and smart home apps, wireless charging provides ongoing power for devices like sensors, cameras, and smart home products, removing the need for manual battery changes. Tables, desks, roads, and parking lots are all starting to incorporate wireless charging technology, making it easier to plan for electric vehicle charging in urban areas. Numerous factors, such as the rising use of electric vehicles (EVs) and the growth of the Internet of Things (IoT), are fuelling the growth of the wireless charging market.
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Wireless Charging Market Scope and Methodology:
The growing demand for electric vehicles (EVs) is driving the wireless charging market. The automotive industry is exploring wireless charging for electric cars, which provides a convenient and efficient charging solution. Companies are developing wireless charging platforms that are installed in garages or parking lots. Advancements in wireless charging, growing connections with electric vehicles (EVs), integration into furniture and infrastructure, long-distance wireless charging, and two-way wireless charging are driving the growth of the Wireless Charging technology.
Wireless Charging Market Regional Insights
Asia Pacific held XX % share in 2023 for the Wireless Charging Market. The region boasts a large consumer electronics market, with countries like China, Japan, and South Korea being major players in device manufacturing, which is expected to drive the Wireless Charging industry growth across the region. There is a growing presence of consumer electronics in the area, with electric vehicles becoming increasingly popular in countries such as China. Chinese-manufactured vehicles have a lower standard compared to imported cars, leading the nation to adopt advanced technology to stay competitive. Electric vehicles depend on electrical power more than they do on mechanical complexity. Consequently, the current support from the Chinese government is towards transitioning from combustion engines to electric vehicles.
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Wireless Charging Market Segmentation
By Technology, Inductive segment held the largest share in 2023 for the Wireless Charging Market. Inductive charging (also known as wireless charging or cordless charging) is a type of wireless power transfer. It uses electromagnetic induction to provide electricity to portable devices. Inductive charging is also used in vehicles, power tools, electric toothbrushes, and medical devices. The integration sought to improve user convenience and encourage the usage of electric mobility. These charging pads allow users to park their vehicles on a charging pad without connecting to any cables, improving the user experience and encouraging electric vehicle adoption. For example, the BMW 5-series plug-in hybrid includes wireless charging capabilities. The inductive charging system is factory-installed and mounted in a garage. The charging process begins automatically when the vehicle is parked, and an empty battery be fully recharged in 3.5 hours. For Instance, Tesla is looking at wireless inductive EV home charging for its electric car lineup. The technology enables Tesla owners to charge their EVs without plugging them in.
Wireless Charging Market Key Players
Energizer Holdings (US)
Integrated Device Technology (US)
Murata Manufacturing (Japan)
Qualcomm Incorporated (US)
Powermat Technologies (Israel)
Texas Instruments (US)
Witricity Corporation (US)
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Key questions answered in the Wireless Charging Market are:
- What is Wireless Charging ?
- What was the Wireless Charging market size in 2023?
- What is the growth rate of the Wireless Charging Market?
- Which are the factors expected to drive the Wireless Charging market growth?
- What are the different segments of the Wireless Charging Market?
- What growth strategies are the players considering to increase their presence in Wireless Charging ?
- What are the upcoming industry applications and trends for the Wireless Charging Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Wireless Charging Market?
- Who are the leading companies and what are their portfolios in Wireless Charging Market?
- What segments are covered in the Wireless Charging Market?
- Who are the key players in the Wireless Charging market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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