Wireless Charging Market (By Technology: Inductive, Resonant, Radiofrequency, Others; By Application: Consumer electronics, Automotive, Industrial, Healthcare, Aerospace & Defense) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033
The global wireless charging market was valued at USD 15.10 billion in 2023 and is anticipated to reach around USD 140.75 billion by 2033, registering a CAGR of 25.01% from 2024 to 2033.
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The Asia Pacific wireless charging market size surpassed USD 6.95 billion in 2023 and is projected to hit around USD 65.45 billion by 2033, with a remarkable CAGR of 25.13% from 2024 to 2033.
Asia Pacific dominated the wireless charging market in 2023. Rapid economic growth and urbanization in the Asia-Pacific region have led to increased disposable incomes and a higher standard of living, which translates to greater consumer spending on advanced technologies, including wireless charging. The automotive industry in the Asia-Pacific region is increasingly integrating wireless charging solutions, especially for electric vehicles (EVs). Additionally, the healthcare sector is adopting wireless charging for medical devices, further driving market growth.
Europe is expected to witness a notable rate of growth in the wireless charging market in the coming years owing to the increasing investment in wireless charging infrastructure for EVs, rising awareness regarding the benefits associated with wireless charging in technology, favorable government policy, and increasing penetration of internet of things (IoT). The European countries have experienced robust demand for tablets, smartphones, wearables, electric vehicles, and other wireless charging-enabled devices. Moreover, rapid technological advancement and growing innovations in the automotive and consumer electronics sectors are projected to propel the expansion of the region's wireless charging market.
In the era of digitalization, wireless charging is rapidly gaining momentum in portable devices as it does not require a wired connection. Wireless charging is the process of electrically charging battery-powered devices, including smartphones, laptops, wearable tech, digital cameras, and electric vehicles, eliminating the need for cables to charge a device. In wireless charging, the battery-powered device can be charged by placing the device close to a wireless power transmitter or at a designated charging station. The use of wireless charging technology offers both convenience and reliability.
Report Coverage | Details |
Wireless Charging Market Size in 2023 | USD 15.10 Billion |
Wireless Charging Market Size in 2024 | USD 18.88 Billion |
Wireless Charging Market Size by 2033 | USD 140.75 Billion |
Wireless Charging Market Growth Rate | CAGR of 25.01% from 2024 to 2033 |
Largest Market | Asia Pacific |
Base Year | 2023 |
Forecast Period | 2024 to 2033 |
Segments Covered | Technology, Application, and Regions |
Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Driver: Rising demand for consumer electronics
The growing demand for consumer electronics around the world is expected to drive the growth of the wireless charging market during the forecast period. Wireless charging has gained considerable attention as a safe technology for powering and charging electrical devices. The increasing use of electronic devices such as laptops, tablets, smartphones, wearable gadgets, and other portable electronic devices that require regular charging has led to the development of wireless charging technologies.
Wireless power technology allows users to charge consumer electronic devices quickly and conveniently, and it eliminates the need for a cable. Wireless charging technology is considered safer than conventional cable charging as it significantly reduces the possibility of electrical shock or fire threats as well as contributes to lower energy costs. Thus, the rising use of consumer electronics globally is expected to supplement the wireless charging market growth during the forecast period.
Restraint: High cost of installing wireless charging systems for EVs
The high cost required for wireless charging systems for electric vehicles (EVs) is anticipated to hamper the market's growth. A high initial cost is needed for installing wireless power transfer technology as it is to be installed beneath the surface of a vehicle parking area to enable vehicle charging. In addition, middle- and lower-income countries are reluctant to opt for these technologies due to budget constraints, which are likely to limit the expansion of the global wireless charging market.
Opportunity: Rising adoption of wireless charging for EVs
The increasing popularity of wireless charging for electric vehicles across the globe is projected to offer immense growth opportunities to the wireless charging market during the forecast period. The rising production and sales of EVs led to a surging demand for wireless charging technology. Gradually, EV charging technology is poised for a transformative shift from wired charging solutions in which drivers plug in a cable to recharge the car’s battery to wireless charging. Wireless EV charging has no wires, charges EVs quickly and safely, eliminates range anxiety, and provides more convenience.
Technology companies, original equipment manufacturers (OEM), automakers, and charging infrastructure providers are recognizing their immense potential, which is likely to boost the market expansion for wireless EV charging. Some of the Major Players in the EV Wireless Charging Industry are Continental AG, Daihen Corporation, Delachaux Group, Electreon, Inc., ELIX Wireless, HEVO, Inc., and WAVE, Inc. The market has also witnessed heavy investment by several market players to advance the wireless charging ecosystem. This will accelerate the wireless charging market growth during the forecast period.
The inductive segment held the largest segment of the wireless charging market in 2023. In inductive charging, the electromagnetic field is generated by two coils (transmitter and receiver) that transmit the energy. This technology offers ease of positioning devices onto charging pads and eliminates the need for wired connections. The wireless smartphone charging pads often make use of inductive charging. Thereby driving the growth of the segment.
In the wireless charging market, the radio frequency segment is expected to grow significantly during the forecast period. Radio frequency technology is capable of charging several devices simultaneously within its coverage area without the need for any cable by putting the receiver at the same frequency as the transmitter.
The consumer segment dominated the wireless charging market in 2023 and is expected to maintain its position in the market over the forecast period. The growth of the segment is majorly driven by the rising use of consumer electronics devices such as smartwatches, smartphones, and others globally. Wireless charging technology is user-friendly and offers convenience to the gadget users. Moreover, rapid technological innovation and increasing investment are likely to fuel the market’s growth.
The healthcare segment is expected to grow at a significant rate in the wireless charging market during the forecast period owing to the increasing adoption of IoT devices in the healthcare sector. The market has witnessed the growing demand for wireless charging technology in the healthcare industry to boost efficiency and improve the performance of medical equipment and devices.
Segments Covered in the Report
By Technology
By Application
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Wireless Charging Market
5.1. COVID-19 Landscape: Wireless Charging Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Wireless Charging Market, By Technology
8.1. Wireless Charging Market, by Technology, 2024-2033
8.1.1. Inductive
8.1.1.1. Market Revenue and Forecast (2021-2033)
8.1.2. Resonant
8.1.2.1. Market Revenue and Forecast (2021-2033)
8.1.3. Glucagon
8.1.3.1. Market Revenue and Forecast (2021-2033)
8.1.4. Radiofrequency
8.1.4.1. Market Revenue and Forecast (2021-2033)
8.1.5. Dessert
8.1.5.1. Market Revenue and Forecast (2021-2033)
Chapter 9. Global Wireless Charging Market, By February
9.1. Wireless Charging Market, by February, 2024-2033
9.1.1. Consumer electronics
9.1.1.1. Market Revenue and Forecast (2021-2033)
9.1.2. Automotive
9.1.2.1. Market Revenue and Forecast (2021-2033)
9.1.3. Industrial
9.1.3.1. Market Revenue and Forecast (2021-2033)
9.1.4. Healthcare
9.1.4.1. Market Revenue and Forecast (2021-2033)
9.1.5. Aerospace & Defense
9.1.5.1. Market Revenue and Forecast (2021-2033)
Chapter 10. Global Wireless Charging Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Technology (2021-2033)
10.1.2. Market Revenue and Forecast, by February (2021-2033)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Technology (2021-2033)
10.1.3.2. Market Revenue and Forecast, by February (2021-2033)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Technology (2021-2033)
10.1.4.2. Market Revenue and Forecast, by February (2021-2033)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Technology (2021-2033)
10.2.2. Market Revenue and Forecast, by February (2021-2033)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Technology (2021-2033)
10.2.3.2. Market Revenue and Forecast, by February (2021-2033)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Technology (2021-2033)
10.2.4.2. Market Revenue and Forecast, by February (2021-2033)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Technology (2021-2033)
10.2.5.2. Market Revenue and Forecast, by February (2021-2033)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Technology (2021-2033)
10.2.6.2. Market Revenue and Forecast, by February (2021-2033)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Technology (2021-2033)
10.3.2. Market Revenue and Forecast, by February (2021-2033)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Technology (2021-2033)
10.3.3.2. Market Revenue and Forecast, by February (2021-2033)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Technology (2021-2033)
10.3.4.2. Market Revenue and Forecast, by February (2021-2033)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Technology (2021-2033)
10.3.5.2. Market Revenue and Forecast, by February (2021-2033)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Technology (2021-2033)
10.3.6.2. Market Revenue and Forecast, by February (2021-2033)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Technology (2021-2033)
10.4.2. Market Revenue and Forecast, by February (2021-2033)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Technology (2021-2033)
10.4.3.2. Market Revenue and Forecast, by February (2021-2033)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Technology (2021-2033)
10.4.4.2. Market Revenue and Forecast, by February (2021-2033)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Technology (2021-2033)
10.4.5.2. Market Revenue and Forecast, by February (2021-2033)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Technology (2021-2033)
10.4.6.2. Market Revenue and Forecast, by February (2021-2033)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Technology (2021-2033)
10.5.2. Market Revenue and Forecast, by February (2021-2033)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Technology (2021-2033)
10.5.3.2. Market Revenue and Forecast, by February (2021-2033)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Technology (2021-2033)
10.5.4.2. Market Revenue and Forecast, by February (2021-2033)
Chapter 11. Company Profiles
11.1. Samsung Electronics
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Sony Corporation
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Fulton Innovation LLC
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Qualcomm Incorporated
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Texas Instruments
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Plugless Power LLC
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Powercast Corporation
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. ConvenientPower HK Ltd.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Texas Instruments, Inc.
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Semtech Corporation
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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