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Key Trends Reshaping the Wireless Charging IC Market: Technological Advancements Thrives Wireless Charging Ic Market Industry Transformation
Wireless Charging IC
Wireless Charging IC Market Size Growth Forecast: What to Expect by 2025?
The market size of wireless charging IC has expanded quickly over the past few years. Its growth is expected to rise from $4.19 billion in 2024 to $4.99 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 19.1%. Factors like eco-friendly solutions, integration in the automotive sector, competition and innovation in the market, an enhanced emphasis on convenience, and the development of industry standards have contributed to this growth in the historic period.
How Will the Wireless Charging IC Market Size Evolve and Grow by 2029?
The market size for wireless charging IC is anticipated to undergo swift expansion in the upcoming years, escalating to a value of $10.18 billion by 2029, reflecting a compound annual growth rate (CAGR) of 19.5%. Factors contributing to this projected growth during the forecast period include market rivalry, cost efficiency, eco-conscious solutions, an upward trend in the adoption of electric vehicles, standardization, interoperability, and improvements in charging efficiency. Key trends to watch over the forecast period encompass miniaturization and heightened integration, cross-device compatibility, swift charging and efficiency enhancements, progress in power delivery, and increasing usage across various sectors.
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What Drivers Are Propelling the Growth of Wireless Charging IC Market Forward?
The growth of the wireless charging IC market is likely to be driven by an increased prevalence of smartphones and smartwatches. Essentially, a smartwatch mirrors the appearance of a traditional wristwatch or timepiece while delivering enhanced functionality. On the other hand, a smartphone is a versatile communication device equipped with computer-like features, allowing users to access emails, the internet, and interact with other computerized systems. A variety of electronic devices like smartphones, smartwatches, wearables, and computers, and more can be charged wirelessly. The demand for wireless charging ICs is predicted to rise with the advancing trend of wirelessly charging smartphones and smartwatches. A report by Uswitch Limited from February 2024 states that there were 71.8 million active mobile connections in 2022. It's projected that the UK will house 68.3 million people by 2025, and about 95% of them will own smartphones. As such, the escalating usage of smartphones and smartwatches is expected to spur the expansion of the wireless charging IC market.
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What Trends Will Shape the Wireless Charging IC Market Through 2029 and Beyond?
Technological innovation is a notable trend that's becoming increasingly popular in the wireless charging IC market. Companies in the sector are keen to develop sophisticated technologies and solutions to fortify their market position. For instance, indie Semiconductor, an American automotive semiconductor firm, in June 2023, introduced a sophisticated automotive wireless power charging system-on-chip (SoC) known as iND87200, the most integrated system of its type in the industry. This system simplifies and accelerates the development of cost-friendly wireless power consortium (WPC) 'Qi'-compliant charging solutions for in-cabin portable devices. The dual-core architecture of the iND87200 features an Arm Cortex M4F CPU equipped with 2MB of integrated Flash and 256kB of SRAM, as well as a dedicated Arm Cortex M0 processor for the wireless protocol stack.
What Are the Key Segments in the Wireless Charging IC Market?
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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Who Are the Key Players Shaping the Wireless Charging IC Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in 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
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