Portable Gaming Console Market Size Poised to Reach USD 27.24 Billion by 2030, Growing at a 6.2% CAGR

Wireless Charging Market Expected to reach USD 16.0 Billion by 2029 and is Projected to be Largest Consumer Electronics Market, Read More 11The market for wireless charging is forecasted for 2021 to 20290

Wireless charging market (USD)Wireless charging market was valued at USD 6.4 billion in 2024 and it is expected to reach USD 16.0 billion by 2029, at a CAGR 20.3% between 2024 and 2029. Such solid growth is driven mainly by the growing adoption of wireless charging functions in consumer electronics and EV (electric vehicle).

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Things That Will Eventually Drive The Market Growth Opportunities

The growing popularity of wireless charging technology across different segments can be attributed to the increasing demand for convenient charging solutions. Consumer Electronics: Smart phones, tablet, and wearable are gaining wireless charging features, increasing convenience for end-users and expanding the market. Change is also coming to the automotive industry, and the manufacturers are putting wireless charging systems in the EVs to make energy replenishment effortless and efficient.
Market Opportunities Emerge from Technological Advancements For example, consider the Qi2 standard, announced by the Wireless Power Consortium. Qi2 includes a completely new Magnetic Power Profile, which allows for exact alignment and better charging. This advancement is expected to drive widespread adoption of wireless charging for devices, including in automotive applications.

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Segmentation Analysis

Market Segmentation: Wireless Charging Market - By Technology, Implementation, Application and Region.

Technology Segmentation:

Dominates the space due to its high efficiency and more extensively used in consumer electronic and automotive application, among others- Inductive Technology

Magnetic Resonance: Has the benefit of being able to charge multiple devices over one transmitter, and has a longer distance range, seeing use in a variety of uses.

Radio Frequency (RF): Relatively-new technology that has yet to be proven effective, but theoretically could potentially charge devices at a great distance, ideal for low-power features and IoT.

Implementation Segmentation:

Transmitters: These are the ones that create the electromagnetic field of radiation for power transmission.
Receivers: These are embedded in end-user devices for power reception, making this segment a significant contributor to the market owing to the growing number of wireless charging-enabled devices.

Application Segmentation:

Consumer Electronics: Includes smartphones, tablets, wearables and other personal electronic devices.

RFID: Powers electric vehicles inductively, stationary and dynamic charging systems as well.

Healthcare: Utilization in medical devices, decreasing dependency on cables and connectors and improving the hygiene and reliability of the device.

Industrial: Used in industrial automation devices, as well as any wireless charging for electric industrial vehicles.

Country-Level Analysis

United States:

The growth of the U.S. market is swift, fueled by technology maturation and healthy U.S. consumer interest in having wireless charging with smartphones and electric vehicles, according to Statista's latest market trends report. Standards such as Qi2 are anticipated to give a strong impetus to overall growth of the market.

Germany:

Germany, as one of the leading automotive countries, is also at the forefront regarding integrating wireless charging technology into electric vehicles. This area is encouraged with collaborations between technology firms and automotive manufacturers.

China:

China has become a huge market for wireless charging because of rapid urbanization, adoption of advanced technology, and innovations in the construction of the infrastructure. This is expected, as government support for EV charging and inclusion of wireless charging standards in national policy are the major driving forces behind this growth.

Japan:

The consumer electronics industry in Japan is one of the largest consumers of wireless charging. Improving charging efficiency and finding new application domains - companies are investing heavily in R&D.

South Korea:

South Korea, where many of the major manufacturers of electronic products are located, is seeing increasing wireless charging acceptance in consumer electronic and automotive in general. This growth is also supported by the country's initiative regarding smart cities as well.

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Competitor Analysis

The wireless charging market has been spurred by robust competition and innovation led by a few key players.
Samsung Electronics Co., Ltd.: Samsung is a major player with a sizable share of wireless charging in consumer electronics products and continues to push the technology forward.
Energizer Holdings Inc.: One of the biggest battery businesses in the world, Energizer has also branched out into the wireless charging market, creating unique wireless charging solutions for homes as well as for industrial settings.
Qualcomm: Mostly known for its fast wireless charging standard, Qualcomm offers state-of-the-art charging technology.
MediaTek Inc.: Finally, media tech provides critical chipset solutions for a wide range of wireless charging applications to improve the level of performance of the devices.
Texas Instruments Incorporated: Texas Instruments specializes in power management solutions, integral to creating wireless chargers that are efficient and dependable.
In recent times, Florida has initiated the first dynamic wireless charging project for electric vehicles on the Road State 516, developed by ENRX. This project is a great example of the innovation happening in the space for wireless charging.

Conclusion

Driven by innovation and penetration of wireless charging in consumer electronics, automotive and other applications, the wireless charging market is expected to be on significant growth trajectory. The market is going to be more convenient and efficient for consumers across the globe as major players continue to innovate while standard like Qi2 are adopted.

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