Global Wireless Charging Market Report and Forecast 2023-2028

Global Wireless Charging Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global wireless charging market reached a value of USD 12.33 billion in 2022. Aided by the proliferation of smart devices and the push towards a wire-free future, the market is projected to further grow at a CAGR of 13.2% between 2023 and 2028 to reach a value of USD 25.88 billion by 2028.

Wireless charging represents a technology that allows electronic devices to be charged without the need for physical cords or plugs. By employing electromagnetic fields to transfer power between two objects, it has ushered in an era of convenience, reducing clutter and enabling seamless integration in various settings, from homes to workplaces and public spaces. Predominantly, it's found in smartphones, wearable devices, electric vehicles, and many medical devices.

The consistent shift towards a more interconnected, digital world is paramount in driving the wireless charging market growth. As consumers worldwide grow more tech-savvy, the demand for efficient, swift, and hassle-free charging solutions has become increasingly pronounced. The augmenting sale of smart devices, especially smartphones, which are now seen as indispensable tools of modern life, has significantly uplifted the need for wireless charging.

Moreover, the growing adoption of electric vehicles (EVs) has opened new horizons for the wireless charging market. With many automakers focusing on integrating wireless charging pads in their EV models, the feasibility of just parking a car over a pad to charge it has transformed from a mere concept to reality, thereby influencing the wireless charging market outlook.

The world of consumer electronics, too, has been a significant beneficiary. The trend of creating interconnected, smart homes necessitates devices that can communicate and operate without a web of wires. Whether it's charging a smartwatch, earbuds, or even laptops, the move towards a unified wireless charging standard is paving the way for an efficient and wire-free environment.

As per the wireless charging market analysis, the introduction of resonant and radio frequency (RF) based wireless charging, capable of charging devices from a distance without direct contact, is setting the stage for the next phase of growth. As technology firms and startups pour investment into research & development, the coming years will likely witness revolutionary advancements.

Market Segmentation

The market can be divided based on technology, transmission range, application, and region.

Market Breakup by Technology

• Inductive Charging
• Resonant Charging
• Radio Frequency Based Charging
• Others

Market Breakup by Transmission Range

• Short Range
• Middle Range
• Long Range

Market Breakup by Application

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

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global wireless charging market. Some of the major players explored in the report by Expert Market Research are as follows:

• Leggett & Platt, Incorporated
• Energizer
• Powermat
• WiTricity Corporation
• Samsung
• Renesas Electronics Corporation
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.