Wireless Charging Market

Wireless Charging Market size reached USD 4.8 billion in 2021 and is estimated to reach USD 25.3 billion in 2029 and the market is estimated to grow at a very high CAGR of 23.1%.

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Key Drivers

Increasing demand of efficient charging system for portable electronics and wearable devices including smartphone, laptops, wearable electronics, digital camera & camcorders, tablets, and household electronics is one of the major factor accelerating the growth of the wireless charging market. Additionally, increase in popularity of the IoT market, rising internet usage in smart devices, high sales of smartphones are further driving the wireless charging market growth. Moreover, growing adoption of electric vehicles owing to low fuel consumption and performance benefits is expected to drive the wireless charging market over the forecast period. Furthermore, various beneficial features of wireless charging that includes safety, cost-effectiveness, reliability and continuous transfer of power are anticipated to stimulate the adoption of wireless charging technologies during the forecast period. However, the lack of standardization and expensive manufacturing infrastructure are certain factors that are expected to hamper the growth of the market over the forecast period.

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Technology – Segment Analysis

Based on technology, the market is segmented into inductive technology, radiation technology, and others. The inductive segment of wireless charging is expected to dominate the market owing to the various benefits offered by it which includes protected connection, durability, and no requirement of cables. Additionally, rising application of inductive wireless charging technology for powering electric vehicles (EVs) is further escalating the growth of the market.

Transmission Range – Segment Analysis

Based on transmission range, the market is segmented into short range, medium range, and long range. The short range segment is projected to grow at a higher CAGR during the forecast period primarily due to the increasing adoption of wireless charging for powering small consumer electronic devices including cell phones, computers, tablet, smart watches, digital cameras, earphones, and other wearable devices.

Application – Segment Analysis

Based on application, the market is segmented into consumer electronics, defence, healthcare, automotive, industrial, and others. The healthcare application segment is anticipated to grow at a higher CAGR during the forecast period. This can be attributed to the increasing utilization of wireless charging technology for powering many portable, handheld and cart-based medical devices. Increasing adoption of medical carts, diagnostic equipment, medical monitors, electronics wheel chairs, automated cleaning robots and surgical instruments that require a reliable charging source power is further accelerating the growth of the wireless charging market.

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Regional – Segment Analysis 

Based on the region, Asia-Pacific region is anticipated to lead the wireless charging market during the forecast period. This is primarily due to the increasing per capita income of population in major economies including China, Japan, India, and South Korea coupled with the surge in the adoption of smartphones, tablets, laptops and wearable electronic devices in the region.  North America is projected to grow at a higher CAGR in the wireless charging market owing to the rapid economic development, increasing investment in the healthcare sector, and growing demand of electric vehicles in the region.

Top Market Players

Various notable players operating in the global Wireless Charging market include ConvenientPower HK Limited, Energizer Holdings, Inc., Xiaomi Corporation, Renesas Electronics Corporation, Leggett & Platt, Incorporated, Murata Manufacturing Co. Ltd., Apple, Inc., Belkin International, Inc., Powermat Technologies, Qualcomm Technologies, Inc., Texas Instruments Incorporated, and WiTricity Corporation, among other companies. 

Key Developments:

• • In 2020, Xiaomi Corporation launched the next generation fast wireless charging technology, 80W Mi. 80W Mi wireless charging technology is capable of filling a 4,000 mAh battery to 10% in 1 minute, 50% in 8 minutes and 100% in just 19 minutes.
  • In 2020, Belkin India launched the BOOST↑UP 10W Wireless Charging Pad Kakao Edition in collaboration with the popular Korean characters, Kakao Friends. It is pad-designed and it will charge all Qi-enabled smartphones, including iPhone and Samsung Galaxy. It is available as Kakao Friends characters namely, Ryan (Black) and Apeach (White).
  • In 2019, WiTricity Corporation, a venture capital (VC)-backed startup that developes wireless charging technology for electric vehicles (EVs) acquired Qualcomm’s EV wireless charging unit Halo.

Segments covered in the Report:

The global Wireless Charging market has been segmented on the technology, transmission range, application, and region. On the basis of technology, the market is segmented into inductive technology, radiation technology, and others. Based on transmission range, the market is segmented into short range, medium range, and long range. Based on application, the market is segmented into consumer electronics, defence, healthcare, automotive, industrial, and others.

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Key questions answered in this research report:

• • At what pace is global Wireless Charging market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Wireless Charging market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Wireless Charging market?
  • Which technology generated maximum revenues in 2021 and identify the most promising technology during the forecast period?
  • What are the various applications of global Wireless Charging market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD 4.8 billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Technology, By Transmission Range, By Application, and By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	ConvenientPower HK Limited, Energizer Holdings, Inc., Renesas Electronics Corporation, Leggett & Platt, Incorporated, Murata Manufacturing Co. Ltd., Apple, Inc., Powermat Technologies, Qualcomm Technologies, Inc., Belkin International, Inc., Xiaomi Corporation, Texas Instruments Incorporated, and WiTricity Corporation among others; a total of 12 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Wireless Charging Market by Technology

• • Inductive Technology
  • Radiation Technology
  • Others

Global Wireless Charging Market by Transmission Range

• • Short Range
  • Medium Range
  • Long Range

Global Wireless Charging Market by Application

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

Global Wireless Charging Market by Region

• • North America Wireless Charging Market (Option 1: As a part of the free 25% customization)
    • By Technology
    • By Transmission Range
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Wireless Charging Market (Option 2: As a part of the free 25% customization)
    • By Technology
    • By Transmission Range
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Wireless Charging Market (Option 3: As a part of the free 25% customization)
    • By Technology
    • By Transmission Range
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Wireless Charging Market (Option 4: As a part of the free 25% customization)
    • By Technology
    • By Transmission Range
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Wireless Charging Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ConvenientPower HK Limited
  • Energizer Holdings, Inc.
  • Renesas Electronics Corporation
  • Leggett & Platt, Incorporated
  • Murata Manufacturing Co. Ltd.
  • Apple, Inc.
  • Powermat Technologies
  • Qualcomm Technologies, Inc.
  • Texas Instruments Incorporated
  • WiTricity Corporation
  • Belkin International, Inc.
  • Xiaomi Corporation