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The wireless chargers market size is projected to increase by USD 68.42 billion, at a CAGR of 23.5% between 2023 and 2028. The market's growth rate depends on various factors, notably the widespread adoption of the Qi standard, surging global shipments of smartphones, and the expansion of embedded cordless chargers. The cordless power transfer (WPT), revolutionizes the process of electrically charging battery-powered devices like laptops, smartphones, and electric cars without requiring a wired connection. As demand for convenient and efficient charging solutions continues to rise, propelled by technological advancements and consumer preferences for hassle-free charging experiences, the market for wireless technologies is poised for significant growth.
The market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about 20 market companies, including Aircharge, AirFuel Alliance, Anker Technology UK Ltd., Apple Inc., Belkin International Inc., BEZALEL Inc., Delta Electronics Inc., Energizer Holdings Inc., iOttie Inc., Koninklijke Philips N.V., Mojo Mobility Inc., Murata Manufacturing Co. Ltd., Naztech Technologies, 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 Consumer BV. Additionally, Anker Technology UK Ltd. specializes in wireless charger products, including the Anker MagGo wireless station, Anker MagGo wireless charger, and Anker 3 in 1 cube with Magsafe, offering innovative solutions to meet various needs.
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The Market encompasses various industries, including consumer electronics and the automotive segment. This market witnesses significant growth due to advancements in technologies such as Long-range wireless charging, Bi-directional wireless charging, Inductive technology, Resonant technology, and Radio frequency technology. These technologies enable the charging of devices like smartphones, computer laptops, and even electric vehicles without the need for physical connections. Industries like healthcare, aerospace & defense, and furniture are also exploring the benefits of wireless charging infrastructure. For instance, wireless charging pads for smartwatches and other wearable devices are gaining popularity in the healthcare industry. In the automotive segment, the market for electric chargers is expanding, with wireless charging solutions offering convenience and reducing wear and tear on charging cables. The advancements in wireless charging technologies are driving market growth, with companies investing in research and development to improve efficiency and reduce charging times. The future of wireless charging looks promising, with potential applications in charging giant robots and other large-scale devices.
An increase in global shipments of smartphones is notably driving market development. The market is experiencing significant growth due to the widespread adoption of the Qi standard by various companies worldwide. This standard, which is compatible with electric vehicles (EVs) and a range of consumer electronic devices including smartphones, computer laptops, smartwatches, hearing aids, and industrial robots, enables interoperability between devices and chargers from different manufacturers. Qi technology, which utilizes inductive, resonant, and radio frequency technologies, is essential for long-range wireless charging and bi-directional charging applications.
Moreover, key players in the market, such as Apple and Samsung, have integrated this technology into their products. The automotive industry, including SLB Batteries and Halo receiver, is also embracing Qi for smart home automations and electric vehicles. The implementation of wireless charging technology in infrastructure, such as electric charging stations, reduces the need for physical wires and minimizes carbon emissions, making it a safer and more convenient solution for passengers and logistics electric vehicles. Thus, with the increase in the global shipments of smartphones, the demand and sales for cordless phone chargers will also increase, consequently driving the market during the forecast period.
The growing adoption of in-car charging is an emerging trend shaping market growth. The market is experiencing significant advancements with the emergence of over-the-air charging solutions. Traditional wireless charging relies on devices being placed on a charger pad for connection. However, the industry is shifting towards long-range wireless charging, which converts wireless signals into electricity for charging devices. Companies like Energous, with their WattUp technology, are utilizing RF, resonant, and bi-directional wireless charging to power various devices, including electric vehicles (EVs), furniture, and consumer electronic devices.
Moreover, this technology allows for charging from any proximity, making it a game-changer for industries such as automotive and smart home automations. Key players include SLB Batteries, Halo receiver, and SmartThings Hub. Devices such as smartphones, computer laptops, electric vehicles, smartwatches, hearing aids, and even heavy vehicles and industrial robots can benefit from this innovation. Thus, the increasing adoption of in-car charging boosts the growth of the market during the forecast period.
Compatibility issues of smartphones with wireless charger standards are a significant challenge hindering market growth. The market encompasses a range of devices, including smartphones, computer laptops, electric vehicles (EVs), and consumer electronic devices. While universal charger ports are commonplace for wired charging, wireless charging standards vary, presenting challenges for compatibility. For instance, Samsung's Qi-enabled Galaxy S6 and S7 models are not interchangeable with the Qi-incompatible Galaxy Note 4. Similarly, iPhones, with their growing user base, lack compatibility with wireless charging standards.
Moreover, inductive technology and resonant technology are two primary wireless charging methods. Inductive charging, which includes Qi and the Halo receiver, is commonly used for smaller devices like smartphones and smartwatches. Resonant technology, on the other hand, is suitable for larger devices, such as electric vehicles and industrial robots. The automotive industry is also exploring long-range wireless charging for EVs, which could eliminate the need for physical charging stations and reduce carbon emissions. Bi-directional wireless charging, which allows energy to flow both ways, is another emerging trend, enabling energy transfer between devices and the power grid. Thus, the rise in concerns related to compatibility issues of smartphones with wireless charger standards hampers the growth of the market during the forecast period.
The market share growth by the consumer electronics segment will be significant during the forecast period. The market experiences substantial growth due to its application in various sectors, notably consumer electronics. Devices such as smartphones, smartwatches, earbuds, tablets, and portable gadgets benefit from the convenience of wireless charging, eliminating the use of cables. In the automotive industry, electric vehicles (EVs) are increasingly adopting wireless charging infrastructure, including long-range and bi-directional charging.
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The consumer electronics segment was the largest and was valued at USD 5.39 billion in 2018. Inductive, resonant, and radio frequency technologies facilitate wireless charging in furniture, infrastructure, and industrial applications. Key players in this market include Apple Inc. with MagSafe technology for iPhones and SLB Batteries with Halo receiver for smart home automations. Consumer electronic devices like smartphones, computer laptops, and smartwatches, as well as electric vehicles, giant robots, and hearing aids, are all powered by batteries that can be charged wirelessly. The wireless charging t-circuit prevention and accident mitigation. Technological advancements, standardization efforts, and increased compatibility across various brands further bolster the adoption of these solutions, solidifying their role as a key feature in the contemporary consumer electronics segment, which boosts the growth of the market during the forecast period.
Inductive technology stands out as a key player in the market, providing a convenient and efficient method for powering electronic devices without the need for traditional cables. The market is experiencing significant growth, with inductive technology, based on the Qi standard, leading the charge. This technology, which utilizes electromagnetic induction to transfer power wirelessly between a charging pad and a device, is gaining popularity in the consumer electronics industry. However, challenges such as technical errors, overheating, and the need for effective thermal management systems can impact the cost per unit and consumer experience. Qi-based charging stations are increasingly common in home settings, with sales of resonant units driving growth in the inductive segment. As consumers seek hassle-free charging solutions, inductive technology continues to dominate the market, driving innovations in design, efficiency, and compatibility across a multitude of devices and applications, which in turn boost the growth of the market during the forecast period.
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APAC is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecast, detailing the regional market trends and drivers influencing the market's trajectory throughout the forecast period. The global market is experiencing significant growth, driven by the increasing adoption of consumer electronics devices, particularly smartphones, in emerging markets. Artificial intelligence is increasingly being integrated into Qi-based charging stations to enhance user experience.
However, technical issues such as overheating require robust thermal management systems. The cost per unit of home charging units is a key consideration for consumers. Technology analysis reveals that the inductive segment dominates the market, while the radio frequency segment is gaining traction. Industry verticals, including consumer electronics, automotive, healthcare, aerospace & defense, and electric chargers, are driving sales of wireless chargers. The automotive segment, in particular, is experiencing strong growth due to remote work and digital connectivity trends. Despite the potential for wear and tear, the market is expected to continue expanding, with resonant unit sales forecasted to increase. Increasing strategic alliances between mobile device manufacturers will be a major trend that will drive this market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Apple Inc. - The company offers wireless charger products such as Magsafe charger, Apple watch magnetic fast charger to USB C cable, and Apple watch magnetic cable.
Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments.
In the modern world, technology has advanced significantly, leading to the emergence of various innovative devices such as smartphones and laptops. One such technology that has gained immense popularity is Wireless Charging. The Market is thriving, with several companies battling it out for a share. EVs (Electric Vehicles), Vehicles, and Infastructure are some of the key industries driving the demand for wireless charging technology. The market landscape depends on the Internet of Things (IoT), PMA (Power Matters Alliance), radio charging, small batteries, industry vertical, wireless electric vehicle chargers, Device ports, and connectors. Long-range charging, charging pads, and charging mats are some of the popular types of wireless chargers. Charging robots and smartphones are common applications. Companies like Samsung, Apple, and Google have already integrated wireless charging technology into their devices. Radios, frequency, and induction are the underlying technologies that make wireless charging possible. The market is expected to grow significantly in the coming years, with an increasing number of devices supporting wireless charging technology. The future of wireless charging looks promising, with advancements in technology leading to faster and more efficient charging solutions.
Market Scope |
|
Report Coverage |
Details |
Page number |
185 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 23.5% |
Market Growth 2024-2028 |
USD 68.42 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
21.89 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 46% |
Key countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aircharge, AirFuel Alliance, Anker Technology UK Ltd., Apple Inc., Belkin International Inc., BEZALEL Inc., Delta Electronics Inc., Energizer Holdings Inc., iOttie Inc., Koninklijke Philips N.V., Mojo Mobility Inc., Murata Manufacturing Co. Ltd., Naztech Technologies, 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 Consumer BV |
Market dynamics |
Parent market growth analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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