Global Wireless Charging Market to Reach US$ 50.1 Billion by 2032, Propelled by the Rising Demand for an Efficient Charging System

March 14, 2023 | Technology & Media

The latest report by IMARC, titled “Wireless Charging Market Report by Technology (Inductive Charging, Resonant Charging, Radio Frequency Based Charging, and Others), Transmission Range (Short Range, Medium Range, Long Range), Application (Consumer Electronics, Automotive, Healthcare, Industrial, Defense, and Others), and Region 2024-2032”, finds that the global wireless charging market size reached US$ 17.8 Billion in 2023. Wireless charging, also known as inductive or cordless charging, is the procedure of transferring power wirelessly without using physical connectors and cables. It uses electromagnetic induction to deliver electricity to numerous portable devices. It is a convenient, safe, reliable, cost-effective, efficient, and safer technology as compared to conventional charging systems. In recent years, wireless charging has gained momentum, as it maintains constant transfer of power to ensure all types of devices, including smartphones, handheld industrial devices, and heavy-duty equipment, are charged.

Global Wireless Charging Market Trends:

One of the primary factors driving the market is the rising demand for an efficient charging system. Additionally, the growing internet penetration has led to a growing demand for charging systems. Fast-wireless RF energy base charges cater to these needs of the consumers, thereby creating a positive market outlook. Other than this, the increasing adoption of portable electronics and wearable devices, such as digital cameras and camcorders, laptops and tablets, household electronics, and wearable electronics, is positively influencing the market growth. Besides this, the rising popularity of the Internet of Things (IoT) and the significant rise in the product requirement for equipment targeted by IoT are escalating the demand for wireless charging as it is a convenient method to power an IoT network. In line with this, there is a boost in the sales of electric vehicles (EVs), and a regular demand for harvesting ambient RF energy, representing another major growth-inducing factor. Furthermore, wireless charging solutions are also widely employed in the healthcare sector, which are contributing to the market growth. Moreover, extensive investments in the research and development (R&D) activities, along with the integration of wireless chargers in automobiles, are creating lucrative growth opportunities for the key players operating in the industry. Looking forward, IMARC Group expects the market value to reach US$ 50.1 Billion by 2032, expanding at a CAGR of 11.8% during the forecast period (2024-2032).

Market Summary:

Based on technology, the market has been divided into inductive charging, resonant charging, radio frequency-based charging, and others. Presently, inductive charging technology dominates the market.
On the basis of the transmission range, the market has been segmented into short, medium, and long range. Short range holds the majority of the market share.
Based on the application, the market has been segregated into consumer electronics, automotive, healthcare, industrial, defense, and others. Currently, consumer electronics represent the largest application area.
Region-wise, Asia Pacific exhibits a clear dominance in the market. Other major regions include North America, Europe, Middle East and Africa, and Latin America.
The competitive landscape of the market has also been analyzed, with some of the key players being Convenient Power HK Limited, Energizer Holdings Inc., Integrated Device Technology, Leggett & Platt Incorporated, Murata Manufacturing Co. ltd., Powermatic Technologies Ltd., Qualcomm Incorporated, Texas Instruments Incorporated, and Witricity Corporation, and Samsung Electronics Co. Ltd.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Technology, Transmission Range, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	Convenient Power HK Limited, Energizer Holdings, Inc, Integrated Device Technology, Leggett & Platt Incorporated, Murata Manufacturing Co. Ltd, Powermatic Technologies Ltd.., Qualcomm Incorporated, Texas Instruments Incorporated, Witricity Corporation and Samsung
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Wireless Charging Market to Reach US$ 50.1 Billion by 2032, Propelled by the Rising Demand for an Efficient Charging System

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