Market Overview

The flourishing smart devices charging landscape is inducing developments in the global wireless charging market. Benefits such as safety, cost-effectiveness, and reliability, are enabling broader adoption of wireless charging technologies. Moving ahead, increasing applications of wireless charging in heavy-duty industrial devices for continuous power supply is further fueling market growth.

Wireless Charging Technology – Making Inroads into Diverse Applications

The drop & charge trends and wireless radiofrequency (RF) energy base chargers are transitioning the wireless changing landscape into a lucrative ecosystem in terms of usability and product design. Increasing internet usage in smart devices is primarily driving the market growth. Moreover, disruptive technologies and wearable devices are creating favorable grounds for market expansion.

The constantly evolving electric vehicles (EV) market is largely escalating the demand for wireless charging technologies. Wireless technology is evolving with maturing technological standards in the entire value chain of EVs. To satiate the growing demand, R&D activities in far-field wireless charging technologies are creating lucrative prospects for the market players

The adoption rate of wireless charging technology is increasing across the industrial sector, given its benefits of enhanced safety and uninterrupted power supply. High demand for wireless charging in sterile healthcare environment is generating new revenue pockets for device manufacturers.

The electronics domain in the industrial sector will emerge as an investment hub in the coming years. On the technological front, inductive charging technology continues to acquire a larger market share through 2030 with amplifying adoption in low power consumer electronics.

Global Wireless Charging Market - Growth Restraints

Low entry bar due to lack of standardization for production is populating the market with sub-standard products, thus hampering the adoption rate. Expensive infrastructure is discouraging manufacturers to further invest in technological developments. Market players are further facing the issue of slow charging aspect of wireless charging technology.

Global Wireless Charging Market - Regional Analysis

North America and Europe acquire a significant market share on the back of flourishing EV market. Adding to it, the quest to harvest ambient RF energy will act in favor of these regional markets. Going forward, rising adoption of consumer electronics will impart robust growth to the wireless charging market in Asia Pacific (APAC). Dramatic surge in the number of food outlets in the region is also escalating market growth.

Global Wireless Charging Market - Competition Landscape

Companies developing wireless charging technology are focused to resolve incompatibility issues with their products to upscale their market penetration. To get rid of such issues, manufacturers of smart devices including, HTC, LGF, and Nokia, are developing wirelessly chargeable handheld devices. Further, market players are developing standard wireless charging technology for advanced devices of various applications such as semiconductors, and medical.

Several companies are joining the league to benefit from the growing demand and establish their brand name. Market players are tapping white spaces in Asia to boost their regional presence. Established players profiled in the global wireless technology market include:

Convenient Power HK Ltd.

WiTricity Corporation

Murata Manufacturing Co. Ltd.

Texas Instruments, Inc.

Murata Manufacturing Co. Ltd.

Murata Manufacturing Co. Ltd.

Tracing the Way Forward for Wireless Charging Market

Leading players in the wireless charging market including, Apple, and Google, are focusing on innovations and technological advancements to increase their regional footprint. Rising infiltration of new market players from different domains will stiffen competition, thus, influencing established players to rethink their growth strategies. Innovative, yet cost-effective solutions will have a larger say in the wiring charging market. While several advanced products are still in the experimental stage, these products are slated to hold great promise in the coming years.

Region

North America

Europe

Asia-Pacific

LAMEA

Report Highlights

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.