Wireless Charging Market

Wireless Charging Market Outlook (2023 to 2033)

Global demand for the Wireless Charging Market is estimated at US$ 4,788.9 Million as of 2022 and is anticipated to have sales of US$ 37,877.4 Million by the end of 2033. The wireless charging market is estimated to be US$ 5,708.4 Million by 2023 and will grow at a CAGR of 20.8% from 2023 to 2033.

One of the most widely used emerging trends today is Wireless Charging, which transfers energy wirelessly from a source to a device that needs it. The demand for wireless charging systems has increased due to the widespread use of wireless portable devices. These wireless charging systems include a charging station, a power supply, and a receiver that takes the power and charges the battery.

It is a reliable technology for powering and charging electrical devices that is practical, secure, economical, efficient, and offers a number of benefits over conventional charging methods.

Wireless Charging Market consists a total of 30% of the global charging equipment market.

Mobile phones, cordless appliances, and other items can now be charged wirelessly instead of a cable. Any battery-powered appliance equipped with a wireless charger may be charged simply by placing it close to wireless power transmitter or a certified charging station. The market is growing due to growing acceptance of wireless technology and growth in the use of mobile phones because of excessive consumption of internet based applications has created a demand for more charging.

North America held a high market share of 26.1% in 2022 and is expected to maintain its position during the projected period, while the Europe market held share about 18.2% in the global market in 2022.

What Are the Issues Regarding Wireless Charging Compatibility That Restraints the Growth of Wireless Charging Market?

"Severe Compatibility Problems That Demand a Significant Investment from the Use"

Wireless charging is beneficial only devices that adhere to the Qi wireless charging standards. One of the main issues regarding wireless charging compatibility that is the lack of standardization in wireless charging technologies. Different devices use different wireless charging standards, which can lead to compatibility issues and limit the adoption of wireless charging. Additionally, some wireless charging systems are less efficient than others, resulting in slower charging times and lower overall performance.

• On June, 2021, Sony announced the release of the new WF-1000XM4 Truly Wireless Headphones, which provide High-Resolution Audio and hence provide a superior audio experience. It also has an outstanding 8-hour battery life and the option of activating Noise Cancellation.
• On April 2020, Tech company OnePlus. Ltd. announced that the OnePlus eight series will now support the Warp Charge 30 wireless charging architecture. In order to allow real-time communication between the wireless charger and the smartphone, the company developed a wireless charging architecture.

Why is Demand for wireless charging surging across USA?

"With Growing Adoption of Wireless Charging Systems for Usage of Smartphones and Other Portable Device Will Boost the Market"

With the adoption of wireless charging technology increases, the developments in wireless charging technology will grow, allowing the market for wireless charging to establish itself in USA. This is particularly true for smartphones and other portable devices, which are increasingly being designed to support wireless charging.

As more consumers switch to wireless charging, the demand for compatible devices and charging infrastructure is likely to increase. Also rapidly growing popularity of the internet of things-based applications across country drives market growth.

What factors allow India to be a major market for wireless charging?

"Increasing Demand for Electric Vehicles, Wearables, And Consumer Electronics Devices Surging Demand On India"

The increasing demand for electric vehicles, wearables, and consumer electronics devices is driving the demand for wireless charging in India. As these technologies become more popular and widely used in the country, the need for convenient and efficient charging solutions also increases, to adopt new product with having different features.

When the wireless chargers first entered the Indian market, they had gained a huge attraction from the Indian consumers because of the new and interesting mode of charging, however this technology is not as fast as wired charging, and also being more expensive, the popularity was short lived.

Also major EV automobile players are setting their factory in India after seeing the potential and growth in market this also leads the rise in growth of wireless charging.

What major factors allowing wireless charging to have lucrative Growth in China?

"Presence of Major Players of Wireless Charging Equipment in China Will Boost the Market"

The presence of major players of wireless charging companies in China is likely to boost the market due to the large and growing consumer electronics industry in the country. China's massive population allows a large presence of smartphones, wearables, and other electronic devices which provide a significant market opportunity for wireless charging technology. Additionally, the presence of established Chinese companies in the wireless charging market can help drive innovation, competition, and lower prices, making the technology more accessible to a broader range of consumers.

Furthermore, the presence of major players can help to create a more stable and predictable market, which can attract additional investment and further growth in the sector.

Category-wise Insights

What Are Different Factors Allow Consumer Electronics in Wireless Charging Market to Dominate the Market?

"Wireless Charging Eliminates the Need for Cords and Cables, Making It a More Convenient Option for Charging Devices for Users"

The growing demand for consumer electronics, such as smartphones, watches and other devices, has led to an increase in the demand for wireless charging equipment. Wireless charging eliminates the need for cords and cables, making it a more convenient option for charging devices for users. This technology has improved in recent years, leading to faster charging speeds and greater efficiency and becomes more widely available and integrated into devices, it has become a popular feature among consumers.

Overall, these factors have driven the growth of wireless charging in the consumer electronics market and make it a dominant technology for powering devices.

What Factors Are Influencing the Demand of Wireless Charging Market for Receivers Categorized?

"Speed and Efficiency of Wireless Charging Receivers Can Influence Demand, As Consumers Want to Charge Their Devices Quickly and Efficiently"

The demand for wireless charging receivers is influenced by the compatibility of devices, as not all devices are equipped with wireless charging technology. The speed and efficiency of wireless charging receivers can influence demand, as consumers want to charge their devices quickly and efficiently. Flexibility of wireless charging receivers can also influence demand, as consumers value the ability to charge their devices without being tethered to a charging pad.

Overall, these factors play a significant role in influencing the demand for wireless charging receivers in the market.

Competitive Landscape

Major players are focusing towards the boost the production due the upsurge in demand of the wireless charging and also players are focusing on the enhancement of products which are affordable and easily acquired for fulfilling the demand of the market in wireless charging market.

• On November 2020, Ossia Inc proclaimed the introduction of the next-generation Cota 2.4 GHz platform. It was approved by the Federal Communications Commission (FCC) for installation in the industrial, commercial and residential sectors. This upgraded and highly effective wireless power platform provides a number of advantages, such as improved manufacturability, increased transmitter effectiveness, and decreased power consumption, as well as cost-effective design, decreased power consumption, lighter weight, and a thinner form factor.
• On September 2020, Integrated Device Technology revealed the P9415-R wireless power receiver, model number P9415-R, as the first of its type. It makes use of cutting-edge WattShare technology. This extraordinarily efficient wireless power receiver can wirelessly charge smartphones, power banks, and portable industrial equipment.

Recent developments related to key players providing the wireless charging market have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

Wireless Charging Market Report Scope

Key Segments of Wireless Charging Market Research

By Component:

• Transmitters
• Receivers

By Application:

• Consumer Electronics
• Automotive
• Healthcare
• Industrial
• Others

By Technology:

• Inductive Technology
• Resonance Technology
• Radio Frequency Technology (RF)
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)

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