Wireless Charging Market by Technology (Inductive, Radio Frequency, Resonant), Implementation (Receivers, Transmitters), Application - Global Forecast 2024-2030

Wireless Charging Market by Technology (Inductive, Radio Frequency, Resonant), Implementation (Receivers, Transmitters), Application - Global Forecast 2024-2030

The Wireless Charging Market size was estimated at USD 22.51 billion in 2023 and expected to reach USD 25.45 billion in 2024, at a CAGR 13.60% to reach USD 54.98 billion by 2030.

The wireless charging market encompasses a broad range of technologies and devices that enable the transfer of electrical energy without physical connectors or cables. Innovations in consumer electronics lead to increased adoption of smartphones and wearables with integrated wireless charging capabilities. Rapid advancements in electric vehicle infrastructure are driving demand for convenient EV charging solutions. However, inefficiencies in power transfer compared to wired alternatives can lead to longer charging times and energy losses during transmission. Market players are working on developing improved efficiency levels and reducing energy losses during power transmission using advanced materials or novel system designs. Increasing deployment of IoT devices requiring efficient power sources and minimal maintenance efforts to improve overall operational efficiency is expected to elevate the need for advanced wireless charging. Moreover, a growing focus on patient-centric healthcare models prompts medical device manufacturers to encourage the incorporation of wireless power transmission features for better patient outcomes and user experience.

Regional Insights

In the Americas, wireless charging has become increasingly popular due to growing consumer demand for convenient and efficient power solutions. The United States and Canada represent a significant portion of the global market share for wireless charging devices. Regarding production capabilities within the region, North America is home to some key players in the industry contributing to advancements in resonant and radio frequency-based technologies for wireless power transfer. Asia is a significant region in the wireless charging market both in terms of production capacity and adoption rates. Additionally, these countries have invested heavily in infrastructure that supports EVs with integrated wireless charging systems. Asia's competitive landscape highlights numerous regional players vying for market share and fostering innovation. Companies in Asia are building a dynamic ecosystem that promotes technological advancements and cost-effective solutions. The European market has shown steady growth in the adoption of wireless charging technologies as they are home to strong research institutions that drive innovation in wireless power transfer technology, particularly with regard to EVs and public transport. European automakers are integrating wireless charging systems into their vehicles to meet consumer demand for convenient EV power solutions.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Wireless Charging Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Growing penetration of smartphones and wearable devices worldwide
• Rising consumer shift toward electric vehicles
• Need for simultaneous charging of multiple devices

Market Restraints

• High costs of wireless charging technologies

Market Opportunities

• Introduction of new wireless charging technology in warehouse logistics
• Surge in demand for implantable medical devices

Market Challenges

• Compatibility and durability issues of wireless charging solutions

Market Segmentation Analysis

• Technology: Rising preference for inductive charging for small-frequency devices
• Implementation: Advanced transceivers with Qi-standard to improve charging capacities
• Application: Exponential use of electric vehicles powered by wireless charging solutions

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Wireless Charging Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Wireless Charging Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Tesla Sells Its Recently Purchased German Wireless Charging Startup Wiferion

Tesla Inc. recently acquired Wiferion, a wireless charging company based in Germany. As part of the acquisition, Tesla also brought on board most of Wiferion's engineering team. Through this acquisition, Tesla aims to bolster their wireless charger portfolios.

Yank Technologies to Develop Wireless Charging Solutions for NASA's Autonomous Vehicles on the Moon

Yank Technologies has recently been awarded a prestigious NASA SBIR Contract to develop high-power wireless charging solutions in the kilowatt range for autonomous vehicles on the Moon. Their patented and patent-pending technology offers the potential to significantly reduce assembly and warranty costs by eliminating complex wire harness connections. In addition, Yank Technologies has successfully developed new wireless power systems capable of dynamically powering robotic vehicles, thereby improving manufacturing uptime and productivity.

Powercast, Powermat Partner on Wireless Charging

Powercast Corporation and Powermat have recently announced a partnership designed to provide designers with enhanced capabilities in incorporating wireless power technology into their designs. This collaboration brings together both technologies' strengths, offering optimized short- and long-range charging solutions for various applications.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Wireless Charging Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Wireless Charging Market, highlighting leading vendors and their innovative profiles. These include Abracon LLC, Analog Devices, Inc., Anker Innovations Technology Co., Ltd, Apple Inc., Belkin, B＆PLUS KK by Balluff GmbH, DAIHEN Corporation, Delta Electronics, Inc., Energizer Holdings, Inc., energysquare SAS, Hon Hai Precision Industry Co. Ltd., In2power NV, Infineon Technologies AG, Laird Technologies, Inc., LG Electronics Inc., Metaboards, Murata Manufacturing Co., Ltd., NXP Semiconductors N.V, Ossia Inc., Panasonic Holdings Corporation, Plugless Power LLC, Powercast Corporation, Powermat Technologies Ltd., Renesas Electronics Corporation, Resonant Link, Inc., Robert Bosch GmbH, Samsung Electronics Co., Ltd., Semtech Corporation, Skyworks Solutions, Inc., Sony Group Corporation, STMicroelectronics N.V., TDK Corporation, Texas Instruments Incorporated, WiBotic Inc., Wiferion GmbH by PULS GmbH, WiTricity Corporation, Yank Technologies, Inc., and ZENS Consumer BV.

Market Segmentation & Coverage

This research report categorizes the Wireless Charging Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Technology
• Inductive
• Radio Frequency
• Resonant
• Implementation
• Receivers
• Transmitters
• Application
• Aerospace & Defense
• Automotive
• Consumer Electronics
• Healthcare
• Industrial
• Region
• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year