Wireless Charging Market Size - Global Industry, Share, Analysis, Trends and Forecast 2024 - 2032

Wireless Charging Market Highlights

• The global wireless charging market is projected to reach USD 46.5 billion by 2032, with a CAGR of 25.1% from 2024 to 2032
• In 2023, the Asia-Pacific wireless charging market held a value of approximately USD 2.77 billion
• The North America region is expected to grow at a CAGR of over 26.5% from 2024 to 2032
• The inductive technology accounted for 38% of the market share in 2023
• The consumer electronics sub-segment captured 53% of the market share in 2023
• Development of universal standards to enhance device compatibility is the wireless charging market trend that fuels the industry demand

Wireless charging is a way of charging batteries with electrical equipment that are not physically connected by cables. Currently, charging smartphones is one of the most important aspects of any organization that uses power-intensive applications. The receiver and transmitter communicate using electromagnetic induction or microwaves. Wireless charging technology eliminates the need to carry several chargers for various gadgets. Wireless charging technology is altering the existing electronic device market, creating a requirement for new competent, standardized, safe, and portable power recharging options.

Global Wireless Charging Market Dynamics

Market Drivers

• Rising demand for seamless, cable-free charging solutions
• Increasing adoption of smart devices with wireless charging capabilities
• Growth in electric vehicle infrastructure and wireless charging integration

Market Restraints

• High cost of wireless charging devices and infrastructure
• Slower charging speeds compared to wired alternatives
• Lack of standardization across different wireless charging technologies

Market Opportunities

• Expansion of wireless charging in the automotive industry for electric vehicles
• Development of ultra-fast wireless charging technology
• Growth in industrial applications such as robotics and material handling

Wireless Charging Market Report Coverage

Wireless Charging Market Insights

The user-friendliness of wireless charging devices, combined with their capacity to charge numerous devices at once, is a fundamental driver of industry expansion. The global wireless charging market is primarily driven by increased smartphone usage with wireless charging capabilities, consumer demand for wireless communication, and device handling efficiency.

Furthermore, the increasing use of wireless charging technology in smartphones, tablets, and wearable gadgets like smartwatches, fitness bands, and other gear contributes to market growth. According to Darcy & Roy Press Organization, wireless charging is a cutting-edge technology with great promise. Its uses may go beyond mobile phones to encompass innovations such as continuous charging for laptops and wireless charging for electric vehicles, among others.

Wireless charging is particularly useful in hazardous industrial areas such as forestry, construction, mining machinery, and material handling applications. For example, the arXiv Organization defines IPT (Inductive Power Transfer) as a type of wireless charging that can transfer large amounts of power, frequently surpassing kilowatts, making it perfect for industrial automation. It is widely employed in applications such as robotic manipulation, automated underwater vehicles, induction generators, and induction motors. While the wireless charging business is likely to expand significantly in the next years, issues such as high costs, slower charging speeds, and lesser efficiency when compared to wire charging remain limits.

The increased adoption of smart gadgets, as well as continual advances in smartphone technology, are important drivers of the wireless charging market. The growing demand for sealed devices with extended battery life, coupled with the inconvenience of managing multiple chargers, is fueling the expansion of the wireless charging market. However, challenges such as the lack of standardization and the requirement for costly infrastructure to support technological advancements are hindering market growth.

Wireless Charging Market Segmentation

The worldwide market for wireless charging is split based on component, technology, application, and geography.

Wireless Charging Market By Component

• Transmitters
• Receivers

According to the wireless charging industry analysis, transmitters play a critical role since they generate the electromagnetic field required to transfer electricity wirelessly. These components are required to initiate the energy transfer process between the charging pad and the receiving device. The transmitter's efficiency and power output have a direct effect on charging performance and speed. As a result, developing high-performance transmitters is critical to increasing the overall effectiveness of wireless charging technology.

Wireless Charging Market By Technology

• Inductive
• Radio Frequency
• Resonant
• Others

Inductive technology dominates the wireless charging industry because to its dependability and broad use in a variety of applications, including smartphones and electric cars. This technique operates through electromagnetic induction, which transfers power between two coils i.e one in the transmitter and one in the receiver. Its effectiveness in charging over short distances makes it an excellent alternative for consumer gadgets and industrial applications. Inductive charging technology continues to dominate the industry due to its simplicity and efficacy.

Wireless Charging Market By Application

• Automotive
• Consumer Electronics
• Industrial
• Healthcare
• Defence
• Others

According to the wireless charging market forecast, consumer electronics dominate, owing to the growing demand for simple and efficient charging solutions in products such as smartphones, tablets, and wearables. As consumers seek more convenient charging options, wireless charging offers a more user-friendly alternative to traditional cable solutions. Wireless charging's rising usage in popular gadgets, driven by the need for faster and more efficient power transfer, reinforces its market domination. As technology advances, more consumer electronic devices will include wireless charging capabilities, further solidifying its position in the industry.

Wireless Charging Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of LATAM

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Wireless Charging Market Regional Analysis

For several reasons, North America is the major market for wireless chargers due to its more developed infrastructure than other regions. In 2023, the Wireless Power Consortium, Inc. (WPC) is expected to release a new wireless charging standard with the purpose of unifying the industry under a single global standard. As a result of this advancement, North America's wireless charging market is expected to grow dramatically as businesses and consumers adopt the new standard for greater compatibility and efficiency.

Asia-Pacific is expected to dominate the market in the next years, outpacing all other regions. This is due to the rising growth of consumer electronics in the Asia-Pacific region. According to the India Brand Equity Foundation, the Ministry of Electronics and IT's 'A call to action for widening and deepening electronics manufacturing' study states that India aspires to achieve $300 billion in electronics manufacturing by 2026. Furthermore, the widespread adoption of this technology for wireless charging has enabled market players to broaden their product offers.

Wireless Charging Market Players

Some of the top wireless charging companies offered in our report include Samsung Electronics, Powercast Corporation, ConvenientPower HK Ltd., WiTricity Corporation, Plugless Power LLC, Renesas Electronics Corporation, Energous Corporation, Powermat Technologies, Texas Instruments, Inc., Ossia Inc., and Belkin International, Inc.