NEW
YORK, July 4, 2024 /PRNewswire/ -- The
global wireless charging market size is estimated to grow
by USD 25.17 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 34.28% during the forecast period.
Proliferating demand for electric vehicles is driving market
growth, with a trend towards backward integration by oems
to develop inductive charging systems. However, high
installation cost of wireless charging technology poses a
challenge. Key market players include Delta Electronics Inc.,
Energizer Holdings Inc., Energous Corp., etatronix GmbH, Leggett
and Platt Inc., LG Electronics Inc., Murata Manufacturing Co. Ltd.,
Ossia Inc., Powercast Corp., Powermat Technologies Ltd., Qualcomm
Inc., Renesas Electronics Corp., Samsung Electronics Co. Ltd., Sony
Group Corp., Texas Instruments Inc., WiTricity Corp., and ZENS.
Get a detailed analysis on regions, market
segments, customer landscape, and companies- View the
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Wireless Charging
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
34.28%
|
Market growth
2024-2028
|
USD 25172.4
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
25.64
|
Regional
analysis
|
APAC, Europe, North
America, Middle East and Africa, and South America
|
Performing market
contribution
|
Europe at
33%
|
Key
countries
|
US, China, Germany, UK,
and Japan
|
Key companies
profiled
|
Delta Electronics Inc.,
Energizer Holdings Inc., Energous Corp., etatronix GmbH, Leggett
and Platt Inc., LG Electronics Inc., Murata Manufacturing Co. Ltd.,
Ossia Inc., Powercast Corp., Powermat Technologies Ltd., Qualcomm
Inc., Renesas Electronics Corp., Samsung Electronics Co. Ltd., Sony
Group Corp., Texas Instruments Inc., WiTricity Corp., and
ZENS
|
Market Driver
In the automotive industry, major EV manufacturers like BMW,
Audi, and Daimler are expanding their in-house wireless charging
solutions for electric vehicles. BMW introduced wireless charging
for their i3 and i8 models, while Audi offers an optional inductive
charging system for their e-tron model. Approximately 80% of
charging occurs at home, making in-house solutions crucial. Audi's
wireless charging system, with a height of 7 cm and a weight of 40
kg, occupies around 6,300 sq.cm. The compatible e-tron model
detects the charging plate via a multi-media interface (MMI), and
the Z-mover, measuring 60 cm x 60 cm, approaches the vehicle's
bottom when within 1 cm, ensuring 90% charging efficiency. The
development of in-house wireless charging systems by automakers is
expected to boost the global wireless charging market's growth
during the forecast period.
The Wireless Charging market is experiencing significant growth,
driven by trends in Electric Vehicles (EVs), Furniture,
Infrastructure, and the Internet of Things (IoT). Long-range
wireless charging and bi-directional charging are gaining traction
in the Automotive application, enabling fleet electrification and
smart city initiatives. Inductive and resonant technologies are
leading the market, with Qi standard and Power Matters Alliance
setting the wireless charging standard. Receiver segments include
consumer electronics, EV owners, and the Defense sector.
Semiconductor industry investment in contactless solutions, hygiene
awareness, and digital connectivity are fueling market growth.
High-speed wireless charging, simultaneous multi-device charging,
and various power sources like Morphine, Transmitter, and Receiver
components are key market offerings. Urban planning, ICT
investment, and environment awareness are also influencing the
market ecosystem. The pandemic has accelerated the adoption of
wireless charging in various industries, including EVs, consumer
electronics, and industrial applications. Companies like PNY
Technologies and cordless charger manufacturers are leading the
charge in this dynamic market.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
• The wireless
charging market has seen considerable advancements in the last
three decades, driven by investments in technology and consumer
preferences. However, the implementation of wireless charging
technology comes with a higher cost compared to traditional wired
systems. This cost difference, which can be as much as 30%, acts as
a significant barrier to mass-scale adoption. The high cost is due
to the expensive components required for manufacturing and
installation. As a result, end-users often opt for wired charging
systems, posing a challenge to the growth of the wireless charging
market. This cost hurdle may persist during the forecast
period.
• The Wireless
Charging Market is experiencing significant growth due to
increasing demand from various sectors like Automotive, Fleet
Electrification, Smart Cities, and Urban Planning. Challenges
include developing high-speed wireless charging solutions for
Simultaneous Multi-Device Charging, ensuring durability against
Wear and Tear, and establishing a universal Wireless Charging
Standard. The Semiconductor Industry is investing heavily in
Contactless Solutions for Consumer Electronics, EV Owners seek
Convenience Factors, and Hygiene Awareness is driving the adoption
of Wireless Charging in Healthcare and Industrial settings. Power
sources like Morphine and Transmitter-Receiver Components are
crucial. Qi-based Charging Stations are common, with companies like
PNY Technologies and Samsung Electronics leading the charge. The
Defense Sector, Aerospace, and Defense also utilize Wireless
Charging through Radio Charging and Resonance Charging. ICT
Investment, Environment Awareness, and the Pandemic have further
boosted the market. Cordless Chargers are popular in Industrial and
Consumer Electronics, while Infineon Technology and LG Electronics
are key players.
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challenges - Request a sample report!
Segment Overview
This wireless charging market report extensively covers market
segmentation by
- Technology
- 1.1 Inductive
- 1.2 Resonant
- 1.3 Radio frequency
- 1.4 Others
- Component
- 2.1 Receivers
- 2.2 Transmitters
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Inductive- The wireless charging market is
growing rapidly as technology advances. Companies like Apple and
Samsung have introduced wireless charging in their latest devices.
This convenience is driving consumer demand. The market is expected
to reach USD40.2 billion by 2025,
growing at a CAGR of 21.7% from 2019 to 2025. Key players include
PowerMat, Energous, and Witricity. Wireless charging offers freedom
from cords and is more efficient than traditional wired charging.
It's a game-changer in the electronics industry.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The wireless charging market is experiencing significant growth
due to the increasing adoption of electric vehicles (EVs) and the
proliferation of wireless charging technology in various
industries. Furniture and infrastructure are integrating wireless
charging pads for convenience, with the Qi standard and Power
Matters Alliance leading the way. Long-range wireless charging and
bi-directional charging are emerging trends, enabling simultaneous
multi-device charging and power transfer between devices. The
Internet of Things (IoT) is also driving demand for wireless
charging in industrial, healthcare, aerospace, and defense
applications. The semiconductor industry is playing a crucial role
in the development of high-speed wireless charging solutions. EV
owners are increasingly opting for Qi-based charging stations and
cordless chargers for their convenience. Magnetic resonance and
induction are popular wireless charging technologies, with
high-speed wireless charging offering faster charging times.
However, concerns around wear and tear and the need for
standardization remain challenges for the market. Samsung
Electronics and Infineon Technology are among the companies driving
innovation in this space.
Market Research Overview
The Wireless Charging Market encompasses various applications,
including Electric Vehicles (EVs), Furniture, Infrastructure, and
Consumer Electronics. This market is driven by advancements in
technologies such as Long-range wireless charging, Bi-directional
wireless charging, Inductive charging, and Magnetic resonance. The
Internet of Things (IoT) and Qi standard are key ecosystems shaping
the market. Inductive technology and Resonant technology, along
with Radio Frequency technology, are the primary wireless charging
technologies. The Receiver segment, including Morphie and PNY
Technologies' cordless chargers, plays a crucial role. Automotive
applications, including fleet electrification and smart city
initiatives, are significant markets. Urban planning and high-speed
wireless charging for Simultaneous multi-device charging are
emerging trends. Wear and tear, EV owners' convenience, hygiene
awareness, digital connectivity, and power sources are crucial
factors. The Semiconductor industry and ICT investment are
significant contributors. The Defense sector, Healthcare, Aerospace
and defense, and Samsung Electronics, Infineon Technology, and LG
Electronics are key players in this market. Wireless charging
standards, contactless solutions, and environmental awareness are
essential considerations. The pandemic's impact on consumer
behavior and the rise of electric cars are significant market
drivers. Qi-based charging stations and Radio charging, Resonance
charging are also gaining popularity.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Technology
-
- Inductive
- Resonant
- Radio Frequency
- Others
- Component
-
- Geography
-
- APAC
- Europe
- North America
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio