Press release
Global Wireless Charging IC Market Projected to Surpass $10.53 Billion by 2029 with 20% Annual Growth
Wireless Charging IC Market Size
The proliferation of smartphones and smartwatches is predicted to notably enhance the expansion of the wireless charging IC market. Characteristics of a smartwatch align with other wearable timepiece-like devices, whereas a smartphone melds mobile phone utility with computer-like functionalities, including email, internet access, and system communication capabilities. The ability to wirelessly charge a range of electronics-such as smartphones, smartwatches, wearables, and computers-promotes market growth, as this process requires wireless charging ICs. As an example, a report in February 2024 by Uswitch Limited, a UK-based online and telephone comparison and switching service, revealed that in 2022, there were 71.8 million active mobile connections. Population projections suggest that by 2025, the UK will have 68.3 million inhabitants, of which 95% are forecasted to own smartphones. Consequently, the broadening reach of smartphones and smartwatches will stimulate the wireless charging IC market's expansion.
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What is the projected compound annual growth rate (CAGR) of the wireless charging ic market from 2025 to 2034, and what factors influence it?
The size of the wireless charging IC market has seen a dramatic increase in recent years. The market which is projected to grow from $4.19 billion in 2024 to $5.06 billion in 2025 displays a compound annual growth rate (CAGR) of 20.9%. The expansion in the previous period is due to eco-friendly solutions, integration in the automotive industry, competition and innovation in the market, a heightened importance on convenience, and the formulation of industry standards.
Predictions indicate that in the coming years, the market size of wireless charging IC will surge dramatically. Experts anticipate it to escalate to $10.53 billion by 2029, with a compound annual growth rate (CAGR) of 20.1%. The upcoming growth can be credited to factors like competitive market conditions and cost-efficiency ratio, introduction of eco-centric alternatives, spike in the rate of electric vehicle use, standardization and interchangeability, alongside strides in charging effectiveness. Notable market trends expected during this period include the miniaturization and heightened integration, cross compatibility among various devices, rapid charge and performance efficiency, advancements in power delivery and its adoption across heterogeneous industries.
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How are the latest trends influencing the growth of the wireless charging ic market?
In the wireless charging IC market, ongoing technological progressions are being recognized as a crucial trend on the rise. Numerous key players in this field are focusing on the invention of superior technology and solutions in order to solidify their market standing. In a prime example of this trend, indie Semiconductor - an automotive semiconductor enterprise based in the United States - launched a unique integrated automotive wireless power charging system-on-chip (SoC) in June 2023. This SoC, known as the iND87200, offers the highest degree of integration within the industry, easing and fast-tracking the development of cost-efficient in-vehicle device charging solutions compatible with the wireless power consortium (WPC) 'Qi' standard. The dual-core iND87200 features an Arm Cortex M4F CPU, equipped with 2MB of integrated Flash and 256KB of SRAM, in addition to a distinct Arm Cortex M0 processor designed specifically for the wireless protocol stack.
What are the major segments of the wireless charging ic market and their role in driving growth?
The wireless charging ic market covered in this report is segmented -
1) By Type: Receiver IC, Transmitter IC
2) By Power Range: Low Range, Medium Range, High Range
3) By Application: Smartphones, Tablets, Medical Devices, Wearable Electronic Devices, Other Applications
4) By Industry Vertical: Consumer Electronics, Automotive, IT And Telecommunication, Oil And Gas, Mining, Healthcare, Other Industry Verticals
Subsegments:
1) By Receiver IC: Single Coil Receiver IC, Multi-Coil Receiver IC, Low-Power Receiver IC
2) By Transmitter IC: Single Coil Transmitter IC, Multi-Coil Transmitter IC, High-Power Transmitter IC
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Which regions are key players in the growth of the wireless charging ic market?
Asia-Pacific was the largest region in the wireless charging IC market in 2024. The regions covered in the wireless charging ic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the wireless charging ic market?
Major companies operating in the wireless charging ic market include NXP Semiconductors N.V., Broadcom Corporation, Toshiba Corporation, Qualcomm Inc., Texas Instruments Inc., ROHM Semiconductor, Vishay Intertechnology Inc., Analog Devices Inc., MediaTek Inc., Integrated Device Technology Inc., Infineon Technologies AG, STMicroelectronics, Semtech Corporation, Samsung Electronics Co. Ltd., Zens GmbH, Devicers Inc., Eaton Corporation plc, LG Electronics Inc., Sharp Corporation, Panasonic Corporation, Sony Group Corporation, TCL Corporation, Xiaomi Corporation, Huawei Technologies Co. Ltd.
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What Is Covered In The Wireless Charging IC Global Market Report?
• Market Size Forecast: Examine the wireless charging ic market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the wireless charging ic market for a structured understanding.
• Key Players Overview: Analyze major players in the wireless charging ic market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the wireless charging ic market.
• Segment Contributions: Evaluate how different segments drive overall growth in the wireless charging ic market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the wireless charging ic market.
• Industry Challenges: Identify potential risks and obstacles affecting the wireless charging ic market.
• Competitive Landscape: Review strategic developments in the wireless charging ic market, including expansions, agreements, and new product launches.
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