Global Wireless Charging Market Analysis/Forecast Report 2024-2029: Burgeoning Opportunities to Charge Warehouse Trucks and Development of Faster and More Efficient Wireless Charging Technology

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Feb 29, 2024, 11:15 ET

DUBLIN, Feb. 29, 2024 /PRNewswire/ -- The "Global Wireless Charging Market by Implementation (Transmitters, Receivers), Technology (Magnetic Resonance, Inductive, Radio Frequency), Application (Automotive, Consumer Electronics, Healthcare) and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

The wireless charging market is expected to reach USD 16.0 billion by 2029 from USD 6.4 billion in 2024, at a CAGR of 20.3% from 2024-2029

The report will help the market leaders/new entrants with information on the closest approximate revenues for the overall wireless charging market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, opportunities, and challenges.

Rising adoption of smart and portable devices, increasing demand for wireless charging in electric vehicles, rising requirement for multi-device charging stations, increasing trend of integrating charging capabilities into furniture, infrastructures, smart homes, and IoT devices.

Major players in the wireless charging market include Energizer (US), SAMSUNG (South Korea), Plugless Power Inc. (US), Ossia Inc. (US), and Qualcomm Technologies, Inc. (US) and others.

Inductive technology segment is to hold the largest market share of wireless charging market in 2023

Inductive technology is widely utilized in wireless charging due to its effectiveness, convenience, and widespread acceptance. Specifically employed in the Qi wireless charging standard, inductive systems establish a close coupling between the coils of the transmitter and receiver, minimizing energy loss during the charging process.

Known for its effectiveness in power transfer and minimized energy loss, inductive technology is widely accepted in consumer electronics like smartphones and wearables. Inductive technology is used to wirelessly charge mid-sized electronic devices, such as mobile phones, personal digital assistants (PDA), MP3, medical devices, electric toothbrushes, and power tools.

Consumer electronics application is to hold the largest market share of wireless charging market in 2023

Consumer electronics dominate the wireless charging market, commanding the largest market share, primarily due to the widespread integration of wireless charging technology into everyday devices. The widespread presence of smartphones, a focus on enhancing user convenience, and the pursuit of seamless experiences have fueled the extensive acceptance of wireless charging in devices like smartphones, tablets, smartwatches, and other gadgets.

The demand for wireless charging is heightened by the popularity of wearable technology, particularly smartwatches, which intensifies the desire for cable-free and convenient charging experiences. Product differentiation is a key factor, with wireless charging capabilities serving as a unique selling point in the competitive consumer electronics market. The industry's global influence, trendsetting nature, and innovation contribute to its leadership in the wireless charging market, supported by the growing consumer preference for the desirable feature across various devices and rising disposable incomes.

The US in holds the largest market share of wireless charging market in 2023

North America comprises the US, Canada, and Mexico. The rising demand for wireless charging in electric vehicles, smart devices, furniture and infrastructure, and healthcare expected to support the market growth in North America. In the US, rapid adoption of technologies and product development are estimated to play a significant role in market growth.

The US manufacturing industry is one of the largest in North America. The growth of manufacturing facilities has increased the demand for wireless chargers in the US. The growth of the market in US is also attributed to presence of prominent market players such as Energizer (US), Plugless Power Inc. (US), Ossia Inc. (US), Qualcomm Technologies, Inc. (US), Leggett & Platt, Incorporated (US), Texas Instruments Incorporated (US), WiTricity Corporation (US).

Premium Insights

Growing Adoption of Internet of Things (IoT) and Other Electronic Devices to Create Lucrative Opportunities for Market Players
Inductive Segment Accounted for Largest Share of Wireless Charging Market in 2023
Consumer Electronics Segment to Lead Wireless Charging Market During Forecast Period
India to Register Highest CAGR in Wireless Charging Market Between 2024 and 2029

Case Study Analysis

Electrified Transportation Company Deployed Wireless Charging Systems for Electric Vehicles
Momentum Dynamics Deployed Wireless Charging System at Columbia Station in Wenatchee, Wa, US, to Charge Link Transit Buses with Momentum Dynamics Charging
Daihen Corporation Incorporated Wireless Charging Technology for Industrial Applications Under Witricity License
Delta Electronics Deployed Wireless Charging Technology Provided by Witricity Corporation to Revolutionize Warehouse Management

Market Dynamics

Drivers

Rising Adoption of Smart and Portable Devices
Increasing Sales of Electric Vehicles and Demand for Wireless Charging
Rising Requirement for Multi-Device Charging Stations
Increasing Trend of Integrating Wireless Charging Capabilities into Furniture, Infrastructures, Smart Homes, and IoT Devices

Restraints

Compatibility Issues Associated with Wireless Charging Devices

Opportunities

Use of Wireless Technology to Charge Warehouse Trucks
Development of Faster and More Efficient Wireless Charging Technology

Challenges

High Investments in Implementing Large-Scale Wireless Charging Infrastructure for Electric Vehicles
Preference for Traditional Charging Technology
Limited Range of Wireless Chargers

Technology Analysis

Internet of Things (IoT)
Artificial Intelligence (AI)
Predictive Maintenance
Industry 4.0

Standards

Qi Standard
Airfuel Alliance
Power Matters Alliance (Pma)
Iso 15118-20
China Gb Standards for Wireless Charging of Electric Vehicles
Radio Equipment Directive
En 301 489-1 & -3 (Emc)
Etsi En 303 417 (Radio)
Standards for Wireless Charging

Company Profiles

Key Players

Energizer
Samsung
Plugless Power Inc.
Ossia Inc.
Qualcomm Technologies, Inc.
Leggett & Platt, Incorporated
Infineon Technologies AG
Renesas Electronics Corporation
Texas Instruments Incorporated
Witricity Corporation

Other Players

Anker Innovations
Convenientpower
Energous Corporation
Inductev Inc.
Mojo Mobility Inc.
Nucurrent
Portronics
Powercast Corporation
Powermat
Powersphyr Inc.
Puls GmbH
Wibotic
Wi-Charge
Wireless Advanced Vehicle Electrification, LLC.
Zens

For more information about this report visit https://www.researchandmarkets.com/r/5qwa8a

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