PUNE, India, July 23, 2024 /PRNewswire/ -- Global
Wireless Charging Market size was valued at USD 29.20 Bn in 2023 and is expected to reach
USD 147.25 Bn by 2030, at a CAGR of
26 %, according to a new report by Maximize Market Research.
Global Wireless Charging Market 2023-2030: Key
Highlights
Market Size in
2023:
|
USD 29.20 Bn
|
Market Size in
2030:
|
USD 147.25
Bn
|
CAGR:
|
26 %
|
Forecast
Period:
|
2024-2030
|
Base
Year:
|
2023
|
Number of
Pages:
|
229
|
No. of
Tables:
|
138
|
No. of Charts and
Figures:
|
193
|
Segments
Covered
|
Type, Battery Capacity,
Application, Size Distribution Channel
|
Key Market
Opportunities
|
Advanced Materials
Revolutionizing Wireless Charging Efficiency and
Performance
|
Key Market
Drivers
|
Rising demand for
smartphones and smartwatches
|
Regional
Scope:
|
North America, Europe,
Asia Pacific, and Africa, South America
|
Report
Coverage:
|
Market Share, Size and
Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers,
Restraints, Investment Opportunities, and Key Trends, Competitive
Landscape, Key Players Benchmarking, Competitive Analysis, MMR
Competition Matrix, Competitive Leadership Mapping, Global Key
Players' Market Ranking Analysis.
|
Get your Sample PDF:
https://www.maximizemarketresearch.com/request-sample/2733/
Wireless charging has transformed powering devices by using
electromagnetic induction to transfer energy without physical
connections. It is widely used in consumer electronics like
smartphones, smartwatches, earbuds and healthcare. Industrial
automation and IoT applications also benefit from wireless charging
technology. The market is driven by Electric Vehicle adoption, IoT
expansion, and user demand for convenience. However, challenges
such as standardization, efficiency, cost, and regulation need to
be addressed. Future advancements, including dynamic EV charging
and smart city integration, promise to make wireless charging an
integral part of daily life.
The growing demand for continuous power solutions drives the
growth of the wireless charging market during the forecast
period.
The demand for the wireless charging market is increasing owing
to the extensive adoption of wireless technologies in many sectors
like the instrument wireless system market. For example, Xvive's
upgraded A58 wireless system, which now operates on the 5.8 GHz
band for cleaner transmission & proposals improved battery life
& wireless range, highlights the trend of enhancing user
convenience & reliability. As musicians seek more efficient and
reliable wireless solutions, the need for advanced wireless
charging systems that can offer longer battery life & faster
charging becomes critical. This mutual relationship between
wireless technology developments and the growing demand for
continuous power solutions drives the growth of the wireless
charging market during the forecast period.
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The rising demand for budget-friendly power banks is
impacting the wireless charging market throughout the forecast
period.
The emergence of budget-friendly power banks the Portronics
Luxcell Wireless Mini, is significantly impacting the wireless
charging market during the forecast period. Priced around
Rs 1,250, this power bank offers a
compelling combination of features, including MagSafe compatibility
& a 10,000 mAh capacity, at a cost well below the typical
Rs 2,500 threshold for wireless
charging devices. This affordability is increasing the demand of
wireless charging technology to a wider audience, mainly among
budget-conscious customers. The Luxcell Wireless Mini's competitive
pricing & robust feature set are likely to exert pressure on
other manufacturers, driving them to innovate and adjust their
pricing strategies. As a result, MMR analysts expect increased
competition within the wireless charging market, which could lead
to lower prices and enhanced technological offerings across the
industry. Moreover, the introduction of such accessible wireless
charging solutions is expected to accelerate the adoption of
wireless charging standards & infrastructure, thereby
increasing the market and expanding further growth.
Wireless charging technologies poised to revolutionize the EV
industry during the forecast period.
Wireless charging technologies are poised to transform the EV
industry by significantly enhancing convenience,
cost-effectiveness, and meeting the rising demand from drivers and
fleet operators. Traditional wired charging solutions need a cable
to recharge EV battery, which heavy & time-consuming. In
contrast, wireless charging eliminates the need for manual
connections, allowing vehicles to charge without being physically
plugged in. This technology can be integrated into many
environments, including roadways & parking areas, enabling
dynamic charging where vehicles can recharge while in motion or
during brief stops. This innovation improves user experience by
providing rapid alignment & initiation of charging. Safety is
ensured with compliance to stringent magnetic field regulations. As
these technologies advance, they are expected to significantly
accelerate EV adoption & reshape the automotive industry.
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Asia Pacific dominated the
Wireless Charging Market in 2023 and is expected to continue its
dominance over the forecast period.
Asia Pacific is home to some of
the world's largest consumer electronics markets such as
China, Japan, and South
Korea. These countries have a strong demand for smartphones,
wearables and other wireless charging-enabled devices. The complete
size of these markets contributes to the region's domination. Many
of the world's leading consumer electronics manufacturers are based
in Asia Pacific. Companies
including Samsung, LG and Huawei are at the forefront of wireless
charging technology. Their influence and innovation fuel the
market's growth. Electric vehicle adoption in Asia Pacific especially in China, has been a substantial driver for
wireless charging. Wireless charging technology is seen as a
suitable solution for EV charging, contributing to the region's
dominance in this sector.
Key Takeaways Wireless Charging Market Report:
- As more & more smartphones, wearables, and other devices
adopt wireless charging technology, the global wireless charging
market is expected to increase rapidly.
- Demand for wireless charging infrastructure drives the market,
particularly in public places such as airports & cafes.
- The widespread adoption of smartphones & EVs in the region
highlights Asia-Pacific as a major
growth area for the wireless charging market.
- Rising interest in wireless charging solutions from the
healthcare & hospitality sectors also drives the wireless power
market.
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Competitive Landscape
The key players in the wireless charging market are increasing
their market share through various business growth strategies.
These include the overview of new products, the expansion of
existing product lines & the signing of agreements. Several key
players in the wireless charging market are devoting significant
resources to research and development, primarily focusing on
expanding the effective range of power transmission.
The global wireless charging market features a diverse array of
companies, ranging from established industry giants to innovative
newcomers. The market is highly competitive regarding product
quality, price, and features.
- Energizer Holdings (US)
- Convenientpower (China)
- Integrated Device Technology (US)
- Murata Manufacturing (Japan)
- Leggett & Platt (US)
- Powerbyproxi Ltd. (New
Zealand)
- Qualcomm Incorporated (US)
- Powermat Technologies (Israel)
- Texas Instruments (US)
- Witricity Corporation (US).
Browse Adjacent Market: Global Wireless Power
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About Maximize Market Research:
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consulting company with professionals from several industries. Some
of the industries we cover include medical devices, pharmaceutical
manufacturers, science and engineering, electronic components,
industrial equipment, technology and communication, cars and
automobiles, chemical products and substances, general merchandise,
beverages, personal care, and automated systems.
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