Wireless Charging Market by Technology (Inductive Technology, Radiation Technology, Others), Transmission Range (Short, Medium, Long), Application (Automotive, Industrial, Defense, Healthcare, Consumer Electronics, Others): Global Market Size Estimates and Forecast (2022–2030)
Wireless charging market is expected to cross US$ 5.12 billion mark in 2022 and is projected to hit US$ 18.50 billion by 2030, recording a CAGR of 23% during the forecast period.
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Growing demand for portable electronics and wearable devices is fueling the growth of wireless charging market
Wireless chargers charge various electronic devices like smartphones, tablets, laptops, smartwatches, and others. Using these chargers increases the durability of electronic devices, which is projected to ensure the wireless charging market growth. In addition, increased Internet of Things (IoT) adoption and in-depth research of wireless charging technologies will further fuel market growth in the forecasted period.
By technology segment, inductive technology is projected to have the largest market share due to its rising adoption in powering electric vehicles. Also, the technology can help to charge several devices at once and provides higher levels of efficiency. Further, radiation technology and others are also expected to gain traction during the forecasted year.
The report segments the wireless charging market into technology, transmission range, application, and geography. Based on technology, the market is further segmented into inductive technology, radiation technology, and others. By transmission range, the wireless charging market is bifurcated into short, medium, and long. Based on application, the market is categorized into automotive, industrial, defense, healthcare, consumer electronics, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, Rest of the World (RoW).
Increasing sales of electric vehicles (EVs) are boosting wireless charging market growth
Wireless charging is a convenient and cable-free way to power and charge electric devices. It is a reliable, convenient, and secure technology. It is used to charge a wide variety of devices such as smartphones, laptops, computers, and MP3 players. It is also used for larger objects like robots and electric cars.
Growing adoption of wireless technology in consumer electronics industry is one of the major factors accelerating the market growth.
The wireless charging technology is used for various applications such as automotive, industrial, defense, healthcare, consumer electronics, and others. Among them, consumer electronics industry in the wireless charging market is expected to grow at a higher rate due to the growing demand for Smartphones, laptops, tablets, wearables, and gaming consoles. Also, the increasing adoption of electric vehicles is growing the demand for wireless charging in automotive applications. Furthermore, industrial, defense, healthcare, and other applications will also contribute to the wireless charging market growth.
Recent strategic developments in wireless charging market
The wireless charging market has undergone several significant developments, and a few of these have been mentioned below:
- In March 2022, Renesas Electronics Corporation announced the release of a next-generation customer reference design for automotive wireless charging stations. This new P9261-3C-CRBv2 allows automotive manufacturers to deliver premium performance and safety features for in-cabin wireless charging.
- In May 2022, Powermat Technologies released a new Powermat PMT 100 Wireless Power Solution. It is designed for small form factor IoT devices for wireless power and charging.
The wireless charging market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Apple Inc.; ConvenientPower HK Limited; Energizer Holdings, Inc; Renesas Electronics Corporation; Leggett and Platt, Incorporated; Murata Manufacturing Co., Ltd.; Powermat; Qualcomm Technologies, Inc.; Texas Instruments Incorporated; and WiTricity Corporation are among the prominent players operating in the Wireless Charging market.
Target audience for the report:
- Raw material and component providers of wireless charger
- Wireless charging providers
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Wireless charger distributors and sales firms
- End users of Wireless Charging technology
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the wireless charging market has been segmented on the basis of:
- Technology:
- Inductive Technology
- Radiation Technology
- Others
- Transmission Range:
- Short
- Medium
- Long
- Application:
- Automotive
- Industrial
- Defense
- Healthcare
- Consumer Electronics
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- Rest of the World (RoW)
- Companies profiled
- Apple Inc.
- ConvenientPower HK Limited
- Energizer Holdings, Inc
- Renesas Electronics Corporation
- Leggett and Platt, Incorporated
Companies profiled
- Apple Inc.
- ConvenientPower HK Limited
- Energizer Holdings, Inc
- Renesas Electronics Corporation
- Leggett and Platt, Incorporated