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Wireless Charging Market to Witness Growth Acceleration, Demand and by Top Key Players 2021-2030

Wireless Charging Market to Witness Growth Acceleration,

The Global Wireless Charging Market size was valued at USD 9.72 billion in 2019 and is predicted to reach USD 164.38 billion by 2030 with a CAGR of 29.2% from 2020-2030.

Wireless charging enables transmission of energy from a power source to a device without the use of a connecting wire or cable. It works on the principle of magnetic resonance or inductive power transfer, where the passage of electric current through a coil lead to a changing magnetic field around that coil which in turn induces a current in another coupled coil. Wireless charging offers convenient and safe charging solutions and thus increasingly being adopted in various electronic applications such as smartphones, laptops and other portable devices.

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Top Companies: Samsung Electronics Co. Ltd., Qualcomm Incorporated, Texas Instruments, Integrated Device Technology Inc., Powermat Technologies Ltd., WiTricity Corporation, Energizer Holdings Inc., Murata Manufacturing Co. Ltd., Sony Corporation, and Fulton Innovation LLC.

Market Dynamics and Trends:

Increasing sale of smartphones and rising adoption of electric vehicles are the key driving factors of the wireless charging market. In addition, growing adoption of wireless charging in industrial and healthcare applications for continuous power supply as well as for its ability to charge multiple devices at the same time also boost the market growth. Additionally, the market growth is propelled by other factors such as rapidly evolving portable electronics market, and emerging need of harvesting energy from RF sources.

However, expensive infrastructure required for the integration of wireless charging is expected to hinder the market growth throughout the forecast period. On the other hand, factors such as growing research in the field of wireless technologies and rising popularity of Internet of Things (IoT) among consumers are expected to create ample growth opportunities for the market.

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Market Segmentations and Scope of the Study:

The global wireless charging market share is segmented on the basis of technology, industry vertical and geography. On the basis of technology, the market is segmented into inductive, resonant, radio frequency (RF) and others. On the basis of industry vertical, the market is divided into electronics, automotive, industrial, healthcare, and aerospace & defense. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis:

North America is expected to hold the lion share of wireless charging market during the forecast period. This is attributed to factors such as increasing adoption of electronic vehicles and rapid expansion of the consumer electronic sector in this region. On the other hand, Europe holds the second largest market share owing to factors such as surging demand for durable charging systems and growing sales of portable electronic devices.

However, Asia Pacific is growing rapidly in terms of market share and size during the forecast period due to the rising adoption of IoT technology coupled with the growing demand for smartphones.

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Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

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