Wireless Charging Market is expected to grow at a CAGR of 21.18% during the forecasted period | Evolve Business Intelligence

Key Highlights:
• The global Wireless Charging Market size was valued at USD 32.72 billion in 2028 growing at a CAGR of 21.18% from 2021 to 2028.
• North America dominated the market in 2028
• Asia Pacific is expected to grow at the highest CAGR from 2021 to 2028

As per the study initiated by Evolve Business Intelligence, the global Wireless Charging Market size accounted for USD 32.72 Billion in 2028, growing at a CAGR of 21.18% from 2021 to 2028. Wireless charging is a technology that allows devices to be charged without a physical connection to a power source. Instead of using traditional charging cables, wireless charging relies on electromagnetic fields to transfer energy between a charging pad or base station and a compatible device. This technology is commonly used for charging smartphones, smartwatches, and other portable electronic devices.

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Wireless charging eliminates the need for physical cables, making it more convenient for users. Users can simply place their devices on a charging pad without dealing with tangled cords. As the use of smartphones and wearable devices continues to grow, the demand for wireless charging solutions has increased. Many modern smartphones and smartwatches now come with built-in wireless charging capabilities. The integration of wireless charging in public spaces, such as airports, cafes, and hotels, has become more prevalent. This encourages users to adopt wireless charging as they can easily charge their devices while on the go. Ongoing advancements in wireless charging technology, such as faster charging speeds and longer-range capabilities, contribute to its growing popularity. This encourages consumers to adopt the latest and most efficient wireless charging solutions.

Key Players
Some of the major Wireless Charging Market players holding high market shares include Samsung Electronics Co. Ltd., Qualcomm Incorporated, Texas Instruments, and Integrated Device Technology Inc. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Powermat Technologies Ltd., WiTricity Corporation, Energizer Holdings Inc., Murata Manufacturing Co. Ltd., Sony Corporation, and Fulton Innovation LLC.

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Segmental Analysis
Based on technology, the Wireless Charging market is Inductive, Resonant, Radio Frequency, and Others. Inductive charging is the most mature and widely adopted wireless charging technology, accounting for the largest market segment. It involves the transfer of energy between two coils, one embedded in a charging pad and the other in the device being charged. Inductive charging is relatively efficient and has a short range, typically requiring the device to be placed directly on the charging pad.
Based on industry vertical, the Wireless Charging market is Electronics, Automotive, Industrial, Healthcare, Aerospace and Defense, Others. The electronics industry is the largest segment in the wireless charging market due to the widespread adoption of smartphones, tablets, and other consumer electronics devices that support wireless charging. The growing demand for convenient and clutter-free charging solutions is driving the adoption of wireless charging in this sector.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

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