From Convenience to Necessity: The Growing Demand for Wireless Charging

The market for wireless charging is expected to reach US$ 37,877.4 million in sales by the end of 2033, with a global demand of US$ 4,788.9 million in 2022. According to estimates, the market for wireless charging will reach US$ 5,708 million by 2023 and increase at a CAGR of 20.8% from 2023 to 2033.

Wireless Charging, which wirelessly distributes energy from a source to a gadget that needs it, is one of the most popular developing technologies today. Due to the extensive use of wireless portable devices, the need for wireless charging systems has skyrocketed. These wireless charging setups consist of a charging station, an energy source, and a receiver that accepts the energy and charges the battery.

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Key Players:

• QUALCOMM Incorporated
• Semtech Corporation
• Texas Instruments Incorporatedn
• Integrated Device Technology, Inc.
• Energizer Holdings, Inc.
• Powermat Technologies

Key Trends in Wireless Charging Market

Wireless charging technology has been around for several years, but it has gained significant traction in recent times. As a result, the wireless charging market is expected to grow at a rapid pace in the coming years. One of the key trends in the wireless charging market is the increasing adoption of wireless charging technology in smartphones and other consumer electronics devices. With the rise in popularity of wireless charging-enabled devices, there has been a surge in demand for wireless charging pads and stands.

Another trend in the wireless charging market is the development of new wireless charging standards. The industry has moved from the initial Qi standard to more advanced standards such as AirFuel and Resonant. These new standards offer faster charging speeds and better compatibility with different types of devices.

The use of wireless charging technology is also expanding beyond consumer electronics to the automotive industry. Many car manufacturers are now incorporating wireless charging pads into their vehicles, allowing drivers to charge their devices while on the go.

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Factors Fuelling Growth in Wireless Charging Market

The wireless charging market has been growing rapidly in recent years due to several key factors. First and foremost, the increasing adoption of smartphones and other mobile devices has created a strong demand for wireless charging solutions that eliminate the need for cords and cables. Additionally, the rising popularity of electric vehicles has also contributed to the growth of the wireless charging market, as more and more consumers are looking for convenient and efficient ways to charge their EVs.

Another key factor fueling the growth of the wireless charging market is the increasing availability and affordability of wireless charging technology, which has made it accessible to a wider range of consumers and businesses. Finally, the growing focus on sustainability and the environment has also played a role in driving the growth of the wireless charging market, as wireless charging is seen as a more environmentally friendly alternative to traditional charging methods that rely on fossil fuels. Overall, these factors are expected to continue driving strong growth in the wireless charging market for years to come.

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Key Segments of Wireless Charging Market Research

By Component:
• Transmitters
• Receivers
By Application:
• Consumer Electronics
• Automotive
• Healthcare
• Industrial
• Others
By Technology:
• Inductive Technology
• Resonance Technology
• Radio Frequency Technology (RF)
• Others
By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)

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This release was published on openPR.