Global Wireless Charging Market Insights Forecasts to 2033

• The Global Wireless Charging Market Size was Valued at USD 20.17 Billion in 2023
• The Market Size is Growing at a CAGR of 13.6% from 2023 to 2033
• The Worldwide Wireless Charging Market Size is Expected to Reach USD 72.43 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global Wireless Charging Market Size is Anticipated to Exceed USD 72.43 Billion by 2033, Growing at a CAGR of 13.6% from 2023 to 2033.

Market Overview

Wireless charging, also known as inductive charging, is a more advanced way to charge batteries. This method is used to charge a variety of devices, including smartphones, computer laptops, electric vehicles, and large robots. Wireless charging includes radio charging, resonance charging, and inductive charging. Radio charging is used for small batteries in devices like smartwatches, smartphones, and hearing aids. At the same time, resonance charging is used to power large vehicles and industrial robots. Furthermore, the growing need for wireless charging solutions is partly due to their simplicity and ease of use. Another important factor driving the global wireless charging market is the growing number of gadgets that allow wireless charging, including earbuds, tablets, smartwatches, and smartphones. Furthermore, several automakers have integrated wireless charging pads into automobiles, allowing users to charge their devices on the go. These developments have increased the availability and affordability of wireless charging, fueling the global wireless charging market growth.

Report Coverage

This research report categorizes the market for the global wireless charging market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global wireless charging market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global wireless charging market.

Driving Factors

The growing trend of incorporating wireless charging features into aspects such as furniture, infrastructure, smart homes, and IoT devices is propelling the wireless charging market forward. This integration entails inserting charging pads or coils directly into furniture such as tables and desks, simplifying users' charging process. Additionally, the rapid integration of wireless charging technology into the automotive industry is a key driver of the growing global wireless charging market. With the growing popularity of electric vehicles (EVs) and hybrid vehicles, automakers are providing convenient and efficient charging solutions to their customers. Furthermore, in September 2020, Samsung also unveiled a wireless charging pad that can charge up to three devices at the same time. This charging pad works with a variety of smart devices that support the Qi wireless charging standard, including smartphones, earbuds, and smartwatches. Moreover, the increased importance of contactless solutions and hygiene awareness following the pandemic may drive interest in technology as an appropriate and touch-free alternative. As remote work and digital connectivity become more prevalent, the market is expected to grow due to the reliance on devices that require consistent power sources. Furthermore, ongoing advancements and innovations in the market are expected to drive market growth during the forecast period.

Restraining Factors

One major factor impeding the growth of the global wireless charging market is the high cost of wireless charging technology. The current cost of wireless charging technology makes it less popular than conventional charging techniques, especially in markets where cost is a factor. Furthermore, the cost of the transmitter, rectifier, inductive plate, and receiver in a wireless charger is higher than that of other similar devices. The high cost of the internal parts in wireless chargers has an impact on overall expenses and ultimately raises the product's final price. The growth of the wireless charging market is being hampered by the fact that wireless chargers are less compatible with current electronic devices; as a result, this charging solution is limited to new electronic devices.

Market Segmentation

The global wireless charging market share is classified into technology, component, and industry vertical.

• The inductive charging segment is expected to hold the largest share of the global wireless charging market during the forecast period.   

Based on the technology, the global wireless charging market is divided into inductive charging, resonant charging, radio frequency charging, and others. Among these, the inductive charging segment is expected to hold the largest share of the global wireless charging market during the forecast period. Inductive charging technology, especially the Qi standard, has been widely adopted and supported by major device manufacturers. Various smartphones, smartwatches, and other electronic devices come equipped with Qi-compatible inductive charging receivers. This compatibility has resulted in a robust ecosystem of devices and charging pads that work in combination, contributing to the dominance of the inductive charging segment in the global wireless charging market.

• The receivers segment is expected to grow at the fastest CAGR in the global wireless charging market during the forecast period.   

Based on the components, the global wireless charging market is divided into transmitters, receivers, and others. Among these, the receivers segment is expected to grow at the fastest CAGR in the global wireless charging market during the forecast period. This is due to an increasing number of devices, such as smartphones, smartwatches, and wireless earbuds, that are equipped with wireless charging receiver components. This integration simplifies the charging process and encourages consumers to choose wireless charging options, which is expected to boost receiver segment growth in the global wireless charging market.

• The automotive segment is expected to grow at the fastest CAGR in the global wireless charging market during the forecast period.   

Based on the industry vertical, the global wireless charging market is divided into consumer electronics, automotive, aerospace & defense, industrial, healthcare, and others. Among these, the automotive segment is expected to grow at the fastest CAGR in the global wireless charging market during the forecast period. The growing use of electric vehicles has increased demand for electric battery chargers. The cost per unit of wireless electric car chargers is high, increasing automotive revenue share in the market. Due to these factors, the automotive segment is growing fastest in the global wireless charging market.

Regional Segment Analysis of the Global Wireless Charging Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the global wireless charging market over the predicted timeframe. 

Asia Pacific is anticipated to hold the largest share of the global wireless charging market over the predicted timeframe. The factors promoting market growth in the region include the sufficient availability of cutting-edge electric vehicle manufacturing facilities and contemporary research and development facilities in developing nations like China, South Korea, Japan, Singapore, and Taiwan. Emerging nations like Australia, India, and the ASEAN nations are essential to the expansion of the regional market. China, Singapore, and India are concentrating on boosting the production of electric cars and related equipment, which draws foreign investors to India to establish production facilities and fuels the expansion of the market. In addition, the Asia-Pacific area is seeing a sharp increase in the use of electric vehicles (EVs), primarily due to government programs that support environmentally friendly transportation and environmental concerns. Wireless charging is essential to the expansion of the market for electric vehicles. The Asia-Pacific region holds a significant share of the global wireless charging market due in part to the growing demand for wireless charging infrastructure as the automotive industry shifts to electric mobility.

North America is expected to grow at the fastest pace in the global wireless charging market during the forecast period. The region's continuous technological advancements and the spike in demand for the technology, especially in the consumer electronics and automotive sectors, are credited with driving this growth in the wireless charging market. Throughout the forecast period, the growing reliance on electronic devices like laptops, tablets, smartphones, and other comparable gadgets is anticipated to drive the expansion of the wireless charging market.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global wireless charging market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Samsung Electronics Co., Ltd.
• Qualcomm Incorporated
• Texas Instruments Incorporated
• Apple Inc.
• Toshiba Corporation
• Broadcom Inc.
• Sony Corporation
• Energizer Holdings, Inc.
• Powermat Technologies Ltd.
• Panasonic Corporation
• NXP Semiconductors N.V.
• Integrated Device Technology, Inc.
• WiTricity Corporation
• Murata Manufacturing Co., Ltd.
• PowerSphyr Inc.
• ConvenientPower HK Limited
• PowerbyProxi Ltd.
• Powercast Corporation
• ZTE Corporation
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In April 2024, The new Qi2 standard, which makes use of the magnetic properties of modern gadgets and chargers, was released by the Wireless Power Consortium (WPC). iPhone owners no longer need to purchase pricey MagSafe-certified accessories to take advantage of the best wireless charging available due to Version 2.0 of the Qi wireless charging standard, which allows up to 15W charging.

• In July 2023, WiTricity Corporation announced the FastTrack Integration Program for vehicle manufacturers. This streamlined program enables automotive OEMs to begin evaluating and testing electric vehicles with wireless charging in just 90 days.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global wireless charging market based on the below-mentioned segments: 

Global Wireless Charging Market, By Technology

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

Global Wireless Charging Market, By Component

• Transmitters
• Receivers
• Others

Global Wireless Charging Market, By Industry Verticals

• Consumer Electronics
• Automotive
• Aerospace & Defense
• Industrial
• Healthcare
• Others

Global Wireless Charging Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa