Wireless Charging Market is anticipated to reach around USD 21,149.56 million in 2028 – Credence Research
The Global Wireless Charging Market generated revenue of around USD 4,266.50 million in 2021 and is anticipated to grow a CAGR of over 24.99% during the forecast period from 2021 to 2028 to reach around USD 21,149.5 million in 2028. While, cumulative growth opportunity presented by the global Wireless Charging is around USD 89 billion during 2022 to 2028.
Global Wireless Charging Market, 2021 – 2028 (USD Million)
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Wireless charging devices allow the transmission of energy from the main power source to the device that needs charging without the need for wires or cables. It is a reliable and convenient way to charge electrical devices. It is also considered safer due to fewer components like connectors and cables.
Wireless charging devices are composed of two main elements, the transmitter or charging station and the receiver, which are usually implemented inside the device that needs charging.
Increasing Demand for Wireless Charging
Transmitters and Receivers are major implementation segments for Wireless Charging. Transmitter’s type of Wireless Charging is widely being used across host of industries and growing in demand consistently. In 2021, Transmitter segment of global Wireless Charging market dominated the market with almost 55% share in total volume consumption as well as revenue generation. Moreover, the demand for Transmitter is anticipated to grow at a rapid pace.
Radio Frequency to Dominate the Demand for Wireless Charging
Magnetic Resonance, Inductive and Radio Frequency are major technologies of Wireless Charging available across the world. Among all, Magnetic Resonance is likely to hold the significant share over the forecast period. While, Radio Frequency is likely to grow at a rapid pace over the forecast period.
High Demand from Automotive and Consumer Electronics to Fuel the Growth of Wireless Charging
Consumer Electronics, Healthcare, Aerospace & Defense and Automotive are major application markets for the Wireless Charging industry. Consumer Electronics and automotive are most dominating applications of Wireless Charging. Collectively it accounted around two third share in total volume consumption. While, Healthcare and Aerospace & Defense are expected to exhibit rapid growth over the analysis period. Wireless Charging is costly affaire at the moment as the technology is still being research extensively by major players and likely to evolve at a rapid pace over the forecast period.
Major Demand Stem from U.S.
U.S. is major regional market for Wireless Charging with over 25% share in 2020. Availability and access to advanced technology, higher early adoption rate for new technologies in the country coupled with higher spending power is driving the demand for Wireless Charging in the nation. However, driven by strong demand from UK, Germany, and France, the demand for Wireless Charging is likely to grow at a rapid pace in Europe too. On the other hand, Asia Pacific is poised to play strong growth backed by growing automotive and consumer electronics industry in the region.
Key players operating in global Wireless Charging market include, Convenient Power Ltd., Elix Wireless, Energizer Holdings, Inc., Energous Corporation, Evatran Group, Leggett & Platt, Momentum Wireless Power, Murata Manufacturing Co., Ltd, Ossia Inc., Powercast Corp., Powermat, Qualcomm Incorporated, Samsung, Texas Instruments Inc., WiTricity Corporation and Zens. Wireless Charging market increasingly being crowded by many players owing to huge growth prospects in the years to come.
Market Segmentation
Global Wireless Charging Market by Implementation, 2016 – 2028
- Transmitters
- Receivers
Global Wireless Charging Market by Technology, 2016 – 2028
- Magnetic Resonance
- Inductive
- Radio Frequency
- Others
Global Wireless Charging Market by Application, 2016 – 2028
- Consumer Electronics
- Aerospace & Defense
- Healthcare
- Automotive
- Others
Global Wireless Charging Market by Company, 2021
- Convenient Power Ltd.
- Elix Wireless
- Energizer Holdings, Inc.
- Energous Corporation
- Evatran Group
- Leggett & Platt
- Momentum Wireless Power
- Murata Manufacturing Co., Ltd
- Ossia Inc.
- Powercast Corp.
- Powermat
- Qualcomm Incorporated
- Samsung
- Texas Instruments Inc.
- WiTricity Corporation
- Zens
- Others
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