Wireless Charging Market Research Report: By Technology (Magnetic Resonance, Inductive, Radio Frequency), Component (Transmitters, Receivers), Application (Consumers Electronics, Healthcare, Automotive) - Global Industry Analysis and Growth Forecast to 2030

Market Overview

The global wireless charging market generated ~$4 billion revenue in 2020, and it is expected to grow at a significant rate during the forecast period (2021–2030). The major reasons responsible for the market's growth include an increase in the demand for wireless charging in smartphones, headphones, smartwatches, and other consumer electronics, deployment of wireless charging capabilities in medical equipment, and expansion of the electric vehicle (EV) industry.

The COVID-19 pandemic had a negative impact on the growth of the wireless charging market. The manufacturing plants of consumer electronics, medical devices, and EV companies halted their production, which slowed the growth of the wireless charging market. However, the market is expected to grow again after the COVID-19 crisis.

For its Efficiency, Inductive Charging is Most-Widely Used Technology

The inductive charging technology is most widely used by the wireless charging market players in their equipment, and it is expected to continue its domination during the forecast period. The technology is widely used in low-power devices, such as, smartphones, smartwatches, ear pods, and fitness bands, and it is also being increasingly adopted in medical appliances. With this technology, the users can place the device to be charged on a conductive pad that is directly connected to a wall socket.

Receivers Held Larger Market Share in 2020

The global wireless charging market has been categorized into transmitters and receivers, based on component. Of these, receivers held the larger market share in 2020, as many receivers are used to charge several devices from a single source. As such, for charging an EVs, there are more EVs than charging facilities. Wireless charging utilizes radio frequencies transmitted through a wireless charger and picked up by a receiver within the device, and they are then converted to DC voltage. Wireless power transfer does not depend on the alignment of the transmitter and receiver, thus providing users an easier charging experience.

Wireless Charging Being Adopted Rapidly in Consumer Electronics Industry

The global wireless charging market has been categorized into consumer electronics, healthcare, automotive, and others, based on application. Of these, consumer electronics, such as smartphones, tablets, wearable devices, laptops, MP3 players, gaming consoles, and personal digital assistance (PDAs), are being integrated with wireless charging. The increase in the demand for such wireless-charging products is propelling the wireless charging market.

North America To Have Largest Market Size during Forecast Period

Globally, the North American region will lead the wireless charging market till 2030 due to the presence of a large number of market players, including Qualcomm Technologies Inc, Energizer Holdings Inc., Plugless Power LLC, and WiTricity Corporation; rapid growth in the sales of consumer electronic products, and wireless charging innovations in the EV sector and medical devices, all of which have encouraged manufacturers to invest heavily in wireless charging.

Asia-Pacific (APAC) Region Shows Significant Growth due to its Huge Consumer Products Market

The APAC wireless charging market is growing due to the rising demand for EVs and consumer electronics, including, smartphones, smartwatches, ear pods, laptops, gaming consoles, and PDAs.

Market Expansion is being driven by Increasing Demand for Consumer Electronics

The strong demand for wireless charging in smartphones and various other consumer electronic devices, such as earphones and smartwatches, is one of the key drivers for the wireless charging industry. This technology has already been introduced by some consumer electronic companies; however, only in premium smartphones. As the demand for wireless-charging-enabled appliances steadily increases, the technology is expected to be used in various devices, such as drones, laptops, and handheld devices.

Rising EV Demand is Boosting Market Growth

Wireless charging is becoming more popular in the EV industry every year as it is being explored to replace the traditional method of connecting the vehicle to a power source with a cord. Wireless charging is being implemented in all-electric vehicles to reduce human involvement, which is helping in the growth of the wireless charging market. Wireless charging allows EVs to charge without any need for a plug. Many international organizations, such as the International Electro Technical Commission (IEC), Society of Automotive Engineers (SAE), Underwriters Laboratories (UL), and Institute of Electrical and Electronics Engineers (IEEE), are working on standards to improve the safety and efficiency of wireless EV charging systems.

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Market Players Involved in Product Launches and Collaborations to Gain Significant Position

Some of the major players in the market are Samsung Electronics Co. Ltd., WiTricity Corporation, Qualcomm Technologies Inc., Texas Instruments Inc., Integrated Device Technology Inc., Powermat Technologies Ltd., NXP Semiconductors N.V., TDK Corporation., and Convenient Power HK Limited.

In recent years, players in the wireless charging industry have been involved in collaborations and product launches in order to attain a significant position. For instance:

• In January 2021, Xiaomi Corporation introduced the Mi Air Charge technology, which enables users to remotely charge electronic devices without any cable or wireless charging stand. The Xiaomi remote charging technology is capable of 5-Watt remote charging for a single device within a radius of several meters. Apart from that, multiple devices can be charged at the same time.
• In December 2019, Integrated Device Technology Inc. and Qualcomm Inc. collaborated to use IDT’s integrated circuit (IC) for consumer electronics devices based on Qualcomm’s WiPower Technology. This IC is designed to meet the requirements of Qualcomm’s new near-field magnetic-resonance wireless power charging module, which is designed to provide spatial freedom for charging consumer electronics, such as mobile phones, and other battery-powered/low-power direct-charge devices.

Key Players in Wireless Charging Market Are:

Market Size Breakdown by Segments

The global wireless charging market report offers comprehensive market segmentation analysis along with market estimation for the period 2015-2030.

Based on Technology

• Magnetic Resonance
• Inductive
• Radio Frequency

Based on Component

• Transmitters
• Receivers

Based on Application 

• Consumers Electronics
• Healthcare
• Automotive 

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America (LATAM)
  • Brazil
  • Mexico
• Middle East and Africa (MEA)
  • Saudi Arabia
  • South Africa