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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.
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.
Wireless Charging Market Analysis
*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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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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