Industry Overview
The global Wireless Charging Market is expected to grow at a high CAGR of 23% from USD 5.2 billion to USD 14.6 billion by 2030 during the forecast period ranging from 2025 to 2030.
Wireless charging refers to the method of energy transmission from the power source to a consuming device without using any wires. The transmitter, or the charging station, supplies the energy that is received by a receiver integrated into a device to recharge the battery. Typically, the process uses the principle of electromagnetic induction to transmit power through a charging station. This process is widely used across several industries, such as automobiles, healthcare, and manufacturing. It is a safe and more efficient process that allows the consistent supply of power to recharge electrical devices. There are several benefits of wireless charging such as mobility, ease of use, safety due to no chances of electric shocks, and flexibility.
The COVID-19 pandemic has led to a downward trend in the wireless charging market in 2020 as there was less support from the government in other sectors and they were concentrating more on health services to curtail the pandemic. Moreover, supply chain disruptions, lockdowns have also impacted the growth of the market. However, the market is anticipated to recover and there will be an increase in the adoption of wireless charging in consumer electronics and automotive industries.
Market Segmentation
Insight by Technology
The global wireless charging market is divided by technology into RF, inductive, resonant and other segments. Among these categories, the inductive technology segment will grow more due to wider application and high demand.
Insight by Application
According to the applications, the global wireless charging market is split into aerospace & defense, automotive, consumer electronics, healthcare, and industrial sectors. Out of these, the consumer electronics sector is expected to grow at a higher XAGR and contribute more to the market due to the growing demand for smartphones, tablets, laptops, MP3 players, gaming consoles, wearables, and personal digital assistants due to changes in consumer choices and lifestyle in Asia-Pacific region especially. It is also attributed to rapid urbanization and the rise in the number of internet users.
Insight by Component
The global wireless charging market is also divided by its components into transmitter and receiver segments. Out of these two segments, the transmitter component segment is expected to grow more and contribute a larger market share during the forecast period due to significant developments in transmitter technology to improve power supply, charging speed, and range of transmission. The receiver component segment is, however, expected to grow at a faster rate due to growing number of electronic devices such as smartwatches, smartphones, and wireless earbuds.
Insight by Charging Station
The global wireless charging market is split by charging stations into home charging station and consumer charging station segments. Out of these two segments, the commercial charging stations will dominate the market during the forecast period. This is mainly due to the growing demand for such charging stations for consumer electronics devices and electric vehicles. It will also contribute a larger share of the market in terms of revenue due to the higher cost per charging unit. On the other hand, the home charging segment will grow at the highest rate due to rise in demand from domestic users during the forecast period.
Global Wireless Charging Market Report Coverage
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Report Metric
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Details
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Historical Period
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2018 - 2023
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Base Year Considered
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2024
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Forecast Period
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2025 - 2030
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Market Size in 2023
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U.S.D. 5.2 Billion
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Revenue Forecast in 2030
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U.S.D. 14.6 Billion
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Growth Rate
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23%
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Segments Covered in the Report
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By Technology and By Application
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Report Scope
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Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
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Regions Covered in the Report
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North America, Europe, Asia-Pacific, Middle East, and Rest of the World
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Industry Dynamics
Industry Trends
There is a notable increase in the adoption and use of smart wearables, smartphones, IoT, and other electronic devices. There is also a significant rise in the installation of wireless charging stations at public places, retail outlets, and the charging in the automotive sector.
Growth Drivers
The most significant growth factor of the global wireless charging market is the growing adoption of this technology in the consumer electronics sector. It is also attributed to the rise in the sales of electric vehicles and the growing need to harvest RF energy. The fact that wireless charging allows charging several devices at a time propels its market growth even further. Also, the progress in charging technologies helps improve the life of wearable gadgets and portable devices which pushes the market forward.
Furthermore, the continual effort of miniaturization of consumer electronics devices, along with the growing application of wireless charging in the healthcare sector, expedites market growth. Manufacturers are also trying to provide easy-to-use alternatives with shorter charging time and positioning flexibility to offer a seamless consumer experience, which accelerates the market growth.
Challenges
The high cost of integrating this charging technologies hinders market growth along with its slower charging ability, lower efficiency of the chargers, and absence of any strand regulation. The incompatibility of devices that do not support the Qi wireless charging standard is another factor hindering the growth of the global wireless charging market.
Opportunities
Growth opportunities for the global wireless charging market lie in the growing usage of the Internet of Things, as well as extensive research in wireless charging technologies.The increased usage of the Internet of Things (IoT) and extensive research in far-field wireless charging technologies are projected to provide attractive prospects for market expansion in the future.
Geographic Overview
The North American market leads and contributes a larger share due to higher demand for efficient wireless charging technologies, consumer electronics and automotive sectors.
The European market is expected to grow significantly during the forecast period due to the rise in demand for more efficient and durable charging solutions for electronic products like portable gadgets and power tools.
The Asia-Pacific market will, however, grow at a faster rate due to higher volume of smartphones, laptops, and other electronic devices users.
Competitive Insight
With start-ups and established market participants, the wireless charging market is highly fragmented. Players are attempting to set themselves apart by emphasizing quality and price. The rising number of product launches, acquisitions, geographical expansion, agreements, and collaboration will provide promising opportunities for the industry players in this market.
Ossia is testing people's preconceptions about what wireless power can do. Ossia's Cota technology, based in Redmond, WA, revolutionizes wireless power by safely transmitting targeted energy to devices at a distance. Ossia’s unique RF smart antenna technology automatically maintains numerous devices charged without any human intervention, providing an efficient and fully wire-free, powered-up world that is always on and always connected.
WiTricity is the world's leading wireless charging company, enabling a sustainable future of electric and autonomous mobility. WiTricity's unique magnetic resonance technology is being integrated into the EV roadmaps of global automakers and Tier 1 suppliers, and it is the cornerstone of significant global standards being established to promote wide-scale adoption. WiTricity technology is responsible for advancements such as dynamic charging of moving vehicles and charging of autonomous robotics and vehicles without human involvement.
WiTricity's wireless charging solution provides high energy transmission over a large air gap, allowing it to be used in sports cars, sedans, and SUVs all with the same solution. It can be used in a variety of settings, including home, fleet, commercial, and public transit.
Some of the prominent players in the wireless charging market include Energizer, Ossia Inc., SAMSUNG, WiTricity Corporation, PLUGLESS POWER INC., Powermat, Qualcomm Technologies, Inc., Texas Instruments Incorporated, Energous Corporation, and Renesas Electronics Corporation.
Recent Developments by Key Players
Energizer Solar, a licensee of Energizer Holdings shall distribute its solar products in the North American market through California-based ATG E Power.
Wi Tricity, a leader in wireless charging technology has opened a subsidiary, WiTricity Japan KK, marking a significant expansion in its global footprint. This initiative is part of a broader collaboration with top Japanese energy firms, forming the EV Wireless Power Transfer Council, aimed at fostering the adoption of wireless electric vehicle (EV) charging technologies across Japan.
The Wireless Charging Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- By Technology
- Inductive
- RF
- Resonant
- Others
- By Application
- Aerospace & Defense
- Automotive
- Consumer Electronics
- Healthcare
- Industrial
Region Covered in the Report
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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