Wireless Charging Market by Implementation (Transmitters, Receivers), Technology (Magnetic Resonance, Inductive, Radio Frequency), Application (Automotive, Consumer Electronics, Healthcare) and Region - Global Forecast to 2029

Wireless Charging Market by Implementation (Transmitters, Receivers), Technology (Magnetic Resonance, Inductive, Radio Frequency), Application (Automotive, Consumer Electronics, Healthcare) and Region - Global Forecast to 2029

The wireless charging market is expected to reach USD 16.0 billion by 2029 from USD 6.4 billion in 2024, at a CAGR of 20.3% from 2024–2029. Rising adoption of smart and portable devices, increasing demand for wireless charging in electric vehicles, rising requirement for multi-device charging stations, increasing trend of integrating charging capabilities into furniture, infrastructures, smart homes, and IoT devices.

“Inductive technology segment is to hold the largest market share of wireless charging market in 2023.”

Inductive technology is widely utilized in wireless charging due to its effectiveness, convenience, and widespread acceptance. Specifically employed in the Qi wireless charging standard, inductive systems establish a close coupling between the coils of the transmitter and receiver, minimizing energy loss during the charging process. Known for its effectiveness in power transfer and minimized energy loss, inductive technology is widely accepted in consumer electronics like smartphones and wearables. Inductive technology is used to wirelessly charge mid-sized electronic devices, such as mobile phones, personal digital assistants (PDA), MP3, medical devices, electric toothbrushes, and power tools.

“Consumer electronics application is to hold the largest market share of wireless charging market in 2023.”

Consumer electronics dominate the wireless charging market, commanding the largest market share, primarily due to the widespread integration of wireless charging technology into everyday devices. The widespread presence of smartphones, a focus on enhancing user convenience, and the pursuit of seamless experiences have fueled the extensive acceptance of wireless charging in devices like smartphones, tablets, smartwatches, and other gadgets. The demand for wireless charging is heightened by the popularity of wearable technology, particularly smartwatches, which intensifies the desire for cable-free and convenient charging experiences. Product differentiation is a key factor, with wireless charging capabilities serving as a unique selling point in the competitive consumer electronics market. The industry's global influence, trendsetting nature, and innovation contribute to its leadership in the wireless charging market, supported by the growing consumer preference for the desirable feature across various devices and rising disposable incomes.

“The US in holds the largest market share of wireless charging market in 2023.”

North America comprises the US, Canada, and Mexico. The rising demand for wireless charging in electric vehicles, smart devices, furniture and infrastructure, and healthcare expected to support the market growth in North America. In the US, rapid adoption of technologies and product development are estimated to play a significant role in market growth. The US manufacturing industry is one of the largest in North America. The growth of manufacturing facilities has increased the demand for wireless chargers in the US. The growth of the market in US is also attributed to presence of prominent market players such as Energizer (US), Plugless Power Inc. (US), Ossia Inc. (US), Qualcomm Technologies, Inc. (US), Leggett & Platt, Incorporated (US), Texas Instruments Incorporated (US), WiTricity Corporation (US).

The break-up of the profiles of primary participants:

By Company Type – Tier 1 – 45%, Tier 2 – 30%, and Tier 3 – 25%

By Designation – C-level Executives – 40%, Directors – 35%, and Others – 25%

By Region – North America - 30%, Europe – 20%, Asia Pacific – 35%, and Rest of the World – 15%

Major players in the wireless charging market include Energizer (US), SAMSUNG (South Korea), Plugless Power Inc. (US), Ossia Inc. (US), and Qualcomm Technologies, Inc. (US) and others.

Research Coverage

The report segments the wireless charging market by Implementation, Technology, Application, and Region. The report also comprehensively reviews drivers, restraints, opportunities, and challenges influencing market growth. The report also covers qualitative aspects in addition to the quantitative aspects of the market.

Reasons to buy the report:

The report will help the market leaders/new entrants with information on the closest approximate revenues for the overall wireless charging market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

Analysis of critical drivers (Rising adoption of smart and portable devices, increasing demand for wireless charging in electric vehicles, rising requirement for multi-device charging stations, increasing trend of integrating charging capabilities into furniture, infrastructures, smart homes, and IoT devices.), restraints (Compatibility issue associated with wireless charging devices), opportunities (use of wireless technology to charge warehouse trucks, development of faster and more efficient wireless technology), challenges (high investment in implementing iarge-scale wireless charging infrastructure for electric vehicles, preference for traditional charging technology) influencing the growth of the wireless charging market.

Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the wireless charging market.

Market Development: Comprehensive information about lucrative markets – the report analyses the wireless charging market across various regions.

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the wireless charging market.

Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Energizer (US), SAMSUNG (South Korea), Plugless Power Inc. (US), Ossia Inc. (US), and Qualcomm Technologies, Inc. (US), WiTricity Corporation (US) and others.