Press release
Wireless Charging IC Market Anticipated To Witness Robust Growth, Surpassing $10.53 Billion By 2029
Wireless Charging IC
How Big Is the Wireless Charging IC Market Size Expected to Be by 2034?
In recent times, the market size for the wireless charging IC has seen substantial growth. The market value is anticipated to surge from $4.19 billion in 2024 to $5.06 billion in 2025, with a compound annual growth rate (CAGR) of 20.9%. Factors such as eco-friendly solutions, integration in the automotive industry, competitive landscape, innovation, a heightened emphasis on convenience, and the evolution of industry standards have contributed to the growth during the historic period.
The market size for the wireless charging IC is slated to experience significant expansion in the coming years, with expectations to reach a valuation of $10.53 billion by 2029. This growth, estimated at a CAGR of 20.1%, is a result of factors such as market competition and cost optimization, environment-friendly solutions, increased uptake of electric vehicles, standardization and interoperability, and improvements in charging efficiency. Noteworthy trends for the forecast period are the miniaturization and heightened integration, cross-device compatibility, enhancements in rapid charging and efficiency, advances in power delivery, and widespread application across various industries.
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How Are Emerging Segments Shaping the Wireless Charging IC Market Landscape?
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 Growth Factors Are Influencing Wireless Charging IC Market Expansion?
The wireless charging IC market is anticipated to experience growth driven by an increasing number of smartphones and smartwatches. A smartwatch, resembling a conventional wristwatch in design, is a form of wearable technology, while a smartphone is a handheld device boasting features of a computer, enabling users to send and receive emails, access the internet, and engage with other technologically advanced systems. A plethora of devices including smartphones, smartwatches, wearable tech, computers, and more can leverage wireless charging. The anticipated market growth is rooted in the necessity of wireless charging ICs for powering smartphones and smartwatches. A case in point is a report from Uswitch Limited, a comparison and mobile switching service in the UK, which stated that in February 2024, 71.8 million mobile connections were reported active in 2022. By 2025, it is projected that the UK will have a population of 68.3 million people, 95% of whom will own smartphones. Thus, the rising prevalence of smartphones and smartwatches stands to stimulate the growth of the wireless charging IC market.
Who Are the Dominant Players Across Different Wireless Charging IC Market Segments?
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.
What Are the Latest Developing Trends in the Wireless Charging IC Market?
Technological progress is a significant trend becoming prevalent in the wireless charging IC market. Firms involved in this market are prioritizing the creation of innovative technologies and solutions to fortify their market stance. One such firm, indie Semiconductor, a US car semiconductor company, unveiled an integrated auto wireless power charging system-on-chip (SoC) known as iND87200 in June 2023. This product offers unprecedented integration levels in the sector, making the development of cost-efficient, WPC 'Qi'-compliant in-cabin portable device charging solutions swift and easier. Furthermore, the iND87200 boasts a dual-core architecture, featuring an Arm Cortex M4F CPU, complemented with 2MB of built-in Flash and 256kB SRAM besides a customized Arm Cortex M0 processor for the wireless protocol stack.
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Which Geographic Regions Are Expected to Dominate the Wireless Charging IC Market in the Coming Years?
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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Wireless Charging IC Market?
2. What is the CAGR expected in the Wireless Charging IC Market?
3. What Are the Key Innovations Transforming the Wireless Charging IC Industry?
4. Which Region Is Leading the Wireless Charging IC Market?
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