Global Wireless Charging Market Size By Type (Wireless Charging Receiver, Wireless Charging Transmitter), By Application (Consumer Electronics, Vehicles & Transport), By Region, And Segment Forecasts,...

The Global Wireless Charging Market was valued at USD 8.5 billion in 2023 and is projected to surpass USD 26.8 billion by 2031, registering a CAGR of 15.7% during the forecast period from 2023 to 2031. The market growth is driven by the increasing adoption of wireless charging technologies across consumer electronics, healthcare devices, and electric vehicles. Wireless charging offers convenience, enhanced user experience, and eliminates the need for physical connectors, fueling its widespread acceptance.

Drivers:

Rising Adoption of Consumer Electronics: The proliferation of smartphones, wearables, and other portable devices, coupled with consumer demand for hassle-free charging, is a significant driver for the market.

Advancement in Wireless Charging Standards: The development of universal standards like Qi and advancements in resonant and inductive charging technologies are boosting market growth.

Electric Vehicle (EV) Market Growth: The increasing adoption of EVs and the integration of wireless charging in vehicle charging infrastructure are major contributors to market expansion.

Restraints:

High Implementation Costs: The development and installation of wireless charging solutions can be expensive, especially for large-scale applications like EVs.

Efficiency Losses: Wireless charging systems face energy transmission inefficiencies, especially over greater distances, limiting their performance compared to wired alternatives.

Opportunity:

Integration with IoT and Smart Homes: The integration of wireless charging with IoT devices and smart home ecosystems presents significant growth potential.

Expansion in Emerging Markets: As smartphone penetration increases in developing regions, the demand for wireless charging accessories is expected to rise significantly.

Market by System Type Insights:

The Inductive Charging segment dominated the market in 2023, attributed to its widespread use in smartphones and consumer devices. However, Resonant Charging is anticipated to grow at the fastest rate, driven by its ability to charge multiple devices simultaneously over larger distances.

Market by End-use Insights:

Consumer Electronics: This segment accounted for the largest market share in 2023, fueled by the integration of wireless charging in smartphones, wearables, and laptops.

Automotive: Wireless charging is increasingly being used in electric vehicles for both residential and public charging solutions.

Healthcare: Adoption is rising for medical devices, offering safe and contactless charging options.

Market by Regional Insights:

North America held the largest market share in 2023, driven by technological advancements and the early adoption of wireless charging in EVs and consumer electronics.

The Asia-Pacific region is projected to experience the highest growth, supported by the rising consumer electronics market and government initiatives promoting EV adoption in countries like China and Japan.

Competitive Scenario:

Key players in the Global Wireless Charging Market include:

Samsung Electronics Co., Ltd.

Qualcomm Incorporated

Powermat Technologies Ltd.

WiTricity Corporation

Energizer Holdings, Inc.

Recent developments include partnerships for EV wireless charging technology and innovative product launches in the consumer electronics space.

Scope of Work – Global Wireless Charging Market