What is the Historical Analysis of the Wireless Charging Market Size?
The wireless charging market has seen considerable growth due to a variety of factors.
• In the past few years, the size of the wireless charging market has surged dramatically. The market is projected to swell from $21.2 billion in 2024 to $27.56 billion in 2025, boasting a compound annual growth rate (CAGR) of 30.0%.
Factors contributing to such growth over the historic period include an increase in disposable income, a surge in various surgical procedures, a spike in consumer electronics demand, and expanded government initiatives.
What are the Market Size and Expected Growth Rates for the Wireless Charging Market?
The wireless charging market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated to experience significant expansion in the coming years, the wireless charging market size is projected to reach a staggering $77.66 billion in 2029, with a compound annual growth rate (CAGR) of 29.6%.
This surge in the projection period can be traced back to the escalating demand for electronic gadgets, the increasing popularity and impressive sales figures of electric vehicles (EVs), the evolution of an extensive range of autonomous and commercial vehicles, and the boom in urbanization. The forecast period is set to witness certain key trends, including technological advancements in wireless charging, the application of mi air charge wireless charging technology, strategic alliances and partnerships, the implementation of smart wireless charging boards, and the integration of automotive in-cabin wireless charging solutions.
Which Factors Are Boosting Growth In The Wireless Charging Market?
The rise in smartphone sales is anticipated to fuel the expansion of the wireless charging market. Smartphones, equipped with built-in computers, offer diverse features such as an operating system, web browsing, and the ability to run software applications. Wireless chargers afford ease of use and enhanced longevity to smart gadget users, hence they are a favorite amongst buyers. For instance, Demandsage, an automated data reporting platform based in the USA, stated in December 2023, that the count of smartphone users is projected to hit 7.1 billion in 2024, encompassing 85% of the world's population. This represents a 4.2% augmentation from 2022, when the global count of smartphone users was approximately 6.6 billion. Consequently, the surge in smartphone sales is steering the advancement of the wireless charging market.
How Is The Globa Wireless Charging Market Divided Into Key Segments?
The wireless charging market covered in this report is segmented –
1) By Components: Transmitters, Receivers
2) By Technology: Inductive Charging, Resonant Charging, Radio Frequency Based Charging, Other Technologies
3) By Transmission Range: Short Range, Medium Range, Long Range
4) By Application: Consumer Electronics, Automotive, Healthcare, Industrial, Defense, Other Applications
Subsegments:
1) By Transmitters: Inductive Transmitters, Resonant Transmitters, Radio Frequency (RF) Transmitters
2) By Receivers: Inductive Receivers, Resonant Receivers, Integrated Circuit (IC) Receivers
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What Trends Are Reshaping The Wireless Charging Market?
Leading businesses in the wireless charging market are concentrating on offering innovative solutions like over-the-air power transmission technology to improve user comfort and effectiveness. Over-the-air (OTA) power transmission technology is a method of wireless power transfer that enables electricity to be transmitted without any physical contact between the sender and receiver. In instance, Ossia, a US-based wireless power technology corporation, unveiled its Cota Universal Base at the 2023 CES (Consumer Electronics Show) in January 2023. This revolutionary invention comes with Cota Real Wireless Power, giving devices the ability to wirelessly recharge without the necessity for direct contact or physical charging mats. The Cota Universal Base has the ability to charge multiple devices at the same time, using radio frequency (RF) technology to provide power to devices within its boundary. This development marks a significant step forward in charging technology, improving user convenience and facilitating the smooth incorporation of wireless power into daily life. Hence, the wireless charging market is anticipated to see substantial growth following the introduction of this revolutionary charging solution, as consumers are increasingly looking for convenient and efficient power solutions.
Who Are the Key Players in the Wireless Charging Market?
Major companies operating in the wireless charging market include:
• Samsung Electronics Co. Ltd.
• Qualcomm Incorporated
• Texas Instruments Incorporated
• Powermat Technologies Ltd.
• WiTricity Corporation
• Energizer Holdings. Inc.
• Murata Manufacturing Co. Ltd.
• Sony Corporation
• LG Electronics Inc.
• Apple Inc.
• Panasonic Corporation
• Toshiba Corporation
• Philips Electronics
• Zens BV
• Belkin International. Inc.
• Anker Innovations Ltd.
• Fulton Innovation LLC
• Mojo Mobility. Inc.
• Ossia Inc.
• Chargifi Ltd.
• Powercast Corporation
• AirCharge Ltd.
• Renesas Electronics Corporation
• NXP Semiconductors N.V.
• Broadcom Inc.
• MediaTek Inc.
• Infineon Technologies AG
• Huawei Technologies Co. Ltd.
• Xiaomi Corporation
• Dell Technologies
What are the Regional Insights into the Wireless Charging Market?
North America was the largest region in the wireless charging market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wireless charging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
