Press release
Wireless Charger Market Projected to Exhibit Growth at 31.9% CAGR by 2031- TMR Study
Overview of Wireless Charger Market
The market, valued at US$ 16.4 billion in 2021, is poised for an unprecedented expansion, primarily fueled by the surge in demand for wireless chargers across consumer electronics and Electric Vehicles (EVs). Industry analysts anticipate substantial growth driven by technological innovations and strategic expansions by key players.
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Key Players and Strategic Moves
The industry landscape is consolidated, with a few major vendors spearheading innovation and investing extensively in R&D. Prominent companies such as Delta Electronics, Energizer Holdings, LG Electronics, Qualcomm Technologies, Samsung Electronics, and Witricity Corporation are focusing on new product launches, mergers, acquisitions, and portfolio expansions.
Market Dynamics and Trends
Wireless power technology, revolutionizing the way devices are charged, eliminates the need for cords and cables. The burgeoning demand for wireless chargers across smartphones, wearables, autonomous vehicles, and electric vehicles is poised to significantly influence the global market in the foreseeable future. The market is witnessing advancements in GaN materials and circuit designs, contributing to the evolution of smaller and more portable chargers.
Market Insights
The report underscores the transformational impact of wireless charging across healthcare, automotive, and manufacturing industries, promising increased mobility and advancements, particularly for IoT devices. The market is driven by innovations, R&D, and expansions aimed at broadening revenue streams for industry players.
Growth Drivers
Rapid adoption of wireless charging in smartphones, wearables, and other consumer electronics is a major catalyst for market expansion. Notably, the rise in wireless charging technology for smartphones, portable media players, digital cameras, and tablets, coupled with NFC and Bluetooth integration, has propelled market growth.
Industry Developments
Recent advancements by industry leaders such as Western Digital Technologies' SanDisk Ixpand wireless charger Sync and SanDisk Ixpand wireless charger 15W, designed for dual wireless charging and automatic data storage, epitomize the industry's commitment to cutting-edge wireless charging solutions.
Adoption in EVs and Automotive Applications
Wireless chargers are making significant inroads in EV charging stations and in-cabin automotive applications. EVs and key fobs can be seamlessly charged wirelessly without the need for bulky wires. Partnerships between industry giants like Siemens and WiTricity are driving innovation in the wireless EV charging market.
Segmentation and Regional Outlook
The charger pad segment held a significant share in the global wireless charger market in 2021, witnessing high demand across various industries due to its user-friendly and safe charging features.
North America led the global market in 2021, attributing its growth to the surge in electric vehicle sales and the high penetration of premium smartphone brands. Asia Pacific and Europe are key markets with substantial growth potential, driven by the adoption of wireless chargers in EVs and consumer electronics devices.
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Recent Market Developments
mophie's launch of snap+ multi-device travel charger and snap+ charging stand & pad, providing up to 15W of wireless power for multi-device charging.
WiTricity's licensing of wireless charging technology to Wiferion for industrial e-vehicles, accelerating wireless charging adoption in industrial automation.
Delta Electronics' introduction of a 30 kW wireless battery charging system for the material handling industry, suitable for various warehouse automation vehicles.
The comprehensive report by Transparency Market Research provides an in-depth understanding of the Wireless Charger Market, enabling stakeholders to make informed decisions in this rapidly evolving landscape.
About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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Transparency Market Research Inc.
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