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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Wireless Charging Market Outlook
The global wireless charging market stood at USD 13.96 billion in 2023. The market is projected to grow at a significant CAGR of 13.2% during the forecast period of 2024-2032 to reach USD 42.50 billion by 2032.
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On the basis of technology, inductive technology is estimated to dominate the global wireless charging market in 2020. Based on the application, the consumer electronics segment accounted for the majority of the total market share and is expected to retain its dominance during the forecast period. Based on the transmission line, the short-range wireless transmission is estimated to hold the largest market in 2020.
Regionally, the Asia Pacific is projected to hold the major market share over the forecast period owing to the growing adoption of consumer electronics and the rising demand for electric vehicles. Also, the increase in disposable income associated with increasing investment in consumer electronics products is expected to drive the wireless charging market growth.
Market Segmentation
Wireless charging is defined as the process of electrically charging battery-powered appliances or devices without physically connecting to a live power source. It operates on the principle of electromagnetic induction (EMI). In EMI, an electric current is passed between the transmitter and the receiver through the use of coils to induce an electromagnetic field. Wireless charging is a convenient, safe, and reliable technology to charge wireless devices, while providing a cost-effective and portable alternative to traditionally wired charging systems.
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On the basis of the technology, the global wireless charging market is divided into:
- Inductive Charging
- Resonant Charging
- Radio Frequency Based Charging
- Others
The wireless charging market can be broadly segregated on the basis of its transmission range into:
- Short Range
- Medium Range
- Long Range
Based on the application, the global wireless charging market is segmented into:
- Consumer Electronics
- Automotive
- Healthcare
- Industrial
- Defence
- Others
The EMR report looks into the regional markets in the global wireless charging market like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Market Analysis
Wireless charging systems ensure the portability of appliances and eliminate the need for bulky power charging devices. It offers convenience to the wireless charging devices and has penetrated various industrial sectors such as industrial equipment, consumer electronics, and automotive. The wireless technology is being increasingly adopted and implemented in healthcare applications on account of the frequent power cuts during surgical procedures. Consequently, the healthcare industry is gaining momentum towards adopting advanced wireless charging alternatives that facilitate performance improvements in medical devices.
Moreover, wireless charging systems offer various advantages over the conventional charging system, such as mobility, ease of handling, and protection from electric shocks, thus, contributing to the growth of the global wireless charging market. The adoption of wireless charging solutions in automobiles and the growing proliferation of the Internet of Things (IoT) is also likely to foster the industry growth. Furthermore, the rising demand and potential of electric vehicles, particularly in European countries, is further expanding its application in the automotive industry. The rise in the sales of electric vehicles (EVs) and the growing adoption of portable electronics and wearables are also driving the industry growth. Moreover, the growing investments in research and development activities are estimated to stimulate the growth of the industry in the coming years.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global wireless charging market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Leggett & Platt, Incorporated
- Energizer
- Powermat
- WiTricity Corporation
- Samsung
- Renesas Electronics Corporation
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Technology |
|
| Breakup by Transmission Range |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Wireless Charging Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global wireless charging market reached a value of USD 13.96 billion in 2023.
The market is projected to grow at a CAGR of nearly 13.2% in the forecast period of 2024-2032.
The market is estimated to reach a value of about USD 42.50 billion by 2032.
The major drivers of the market include rising disposable incomes, increasing sales of electric vehicles (EVs), and growing adoption of portable electronics and wearables.
The wireless technology is being increasingly adopted and implemented in healthcare applications, on account of the frequent power cuts during surgical procedures. This is expected to be a key trend guiding the growth of the market along with increasing population.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market, with the Asia Pacific accounting for the largest market share.
Inductive charging, resonant charging, and radio frequency based charging are the various technologies in the market.
Short range, middle range, and long range are the leading transmission ranges in the market.
The consumer electronics, automotive, healthcare, industrial, and defence, among others are the various application segments in the market.
The key players in the global wireless charging market are Leggett & Platt, Incorporated, Energizer, Powermat, WiTricity Corporation, Samsung, and Renesas Electronics Corporation, among others.
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