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The wireless chargers market size is forecast to increase by USD 68.42 billion at a CAGR of 23.5% between 2023 and 2028. The market is experiencing significant growth, driven by the increasing adoption of artificial intelligence in consumer electronics and the proliferation of Qi-based charging stations. The consumer electronics industry is witnessing a shift towards wireless charging solutions due to their convenience and compatibility with various devices. However, challenges persist, including technical errors and overheating issues. To mitigate these challenges, advanced thermal management systems are being integrated into home charging units. The cost per unit is a critical factor influencing market growth, with manufacturers striving to offer affordable yet efficient solutions. Despite these challenges, the market is expected to continue expanding, driven by the increasing demand for wireless charging technology in consumer electronics devices.
Wireless charging is a revolutionary technology that eliminates the need for cords and cables for charging devices. This technology is gaining popularity in various industry verticals, including consumer electronics and automotive. In the consumer electronics sector, wireless charging is commonly used for charging smartphones, computer laptops, smartwatches, and other small batteries. The technology is also being adopted in the automotive segment for electric vehicles (EVs), where it is used for both in-car and long-range charging. There are three main types of wireless charging technologies: inductive, resonant, and radio frequency. Inductive technology uses a magnetic field to transfer energy between the charging pad and the device.
Moreover, the resonant technology, on the other hand, uses a resonant frequency to transfer energy wirelessly. Radio frequency technology uses radio waves to transfer energy. Infrastructure for wireless charging is being developed for various applications, including furniture with integrated charging pads and bi-directional wireless charging for EVs and giant robots. The automotive industry is expected to be the largest market for wireless charging, driven by the increasing adoption of EVs and the need for convenient and efficient charging solutions. However, the technology is also gaining traction in other industry verticals such as healthcare, aerospace & defense, and consumer electronics. Despite the benefits, wireless charging is still subject to wear and tear, which may affect its efficiency and reliability over time.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The consumer electronics segment is estimated to witness significant growth during the forecast period. The market is witnessing significant growth, particularly in the consumer electronics sector. Devices such as smartphones, tablets, smartwatches, and portable earbuds are leading the adoption of wireless charging technology. This technology offers convenience and eliminates the need for cables, making it an attractive choice for consumers. Notable smartphone manufacturers, including Apple Inc., integrate wireless charging capabilities into their premium models, such as the MagSafe infrastructure on iPhones. Additionally, the increasing popularity of smart home automations is fueling the demand for wireless charging solutions for computer laptops and electric vehicles. SLB Batteries, Halo receiver, and other wireless charging solutions cater to this expanding market.
Moreover, the integration of wireless charging technology into various consumer devices is revolutionizing the way we power our daily essentials, making it an essential component of modern living.
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The consumer electronics segment was valued at USD 5.39 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The global wireless chargers market is experiencing significant growth due to the increasing popularity of wireless charging technology in various devices, including smartphones, computer laptops, electric vehicles, and even giant robots. SLB Batteries, a leading battery manufacturer, has introduced the Halo receiver, enabling seamless wireless charging for multiple devices. This innovation aligns with the trend towards smart home automations, making life more convenient for consumers. China, with its burgeoning smartphone market, is witnessing a wave in wireless charging demand. Many manufacturers in China are entering the market, offering affordable wireless charging solutions. Developed countries like Japan and South Korea are expected to continue dominating the global wireless chargers market due to their technological advancements and early adoption of wireless charging technology. Overall, the wireless chargers market is poised for substantial growth in the coming years.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing adoption of Qi standard is the key driver of the market. The market is experiencing significant growth due to the increasing adoption of Electric Vehicles (EVs) and the integration of wireless charging technology into various industries, including Furniture and Infrastructure. Qi standard, a popular wireless charging technology, is gaining traction in the market owing to its compatibility with devices and chargers from different manufacturers. This standard, which is widely used in the Automotive industry, allows Qi-enabled devices to be compatible with every Qi charging transmitter, regardless of the device manufacturer. Key players, such as Apple and Samsung, have embraced this technology, thereby driving market growth. Long-range wireless charging, Bi-directional wireless charging, and various technologies like Inductive, Resonant, and Radio Frequency are also contributing to the market expansion. SmartThings Hub, a leading platform for the Internet of Things (IoT), is another area where wireless charging technology is gaining popularity.
An increase in the adoption of over-the-air wireless charging is the upcoming trend in the market. The market is witnessing significant advancements with the emergence of innovative charging technologies for various devices, including Electric Vehicles (EVs) and small gadgets. Traditional wireless charging involves placing devices on a charger pad for connection. However, with the evolution of technology, companies are exploring over-the-air wireless charging solutions. This technology converts wireless signals into electricity to charge devices, allowing them to be charged from any close range, even when not in direct contact with the charger. Firms such as Energous are leading this innovation, developing RF-based solutions like WattUp, which can power multiple devices in order of priority. Another promising technology is long-range wireless charging, which uses infrastructure to transmit power over longer distances.
Additionally, bi-directional wireless charging, which allows devices to charge each other, is gaining traction in the market. Moreover, the integration of smart home systems like SmartThings Hub is expected to boost the adoption of wireless charging technology. In the automotive industry, resonant technology and inductive technology are being used for wireless charging of EVs. Overall, the market is poised for growth, with various firms investing in research and development to bring efficient and convenient charging solutions to consumers.
Compatibility issues of smartphones with wireless charger standards is a key challenge affecting the market growth. The market is witnessing significant growth due to the increasing popularity of Electric Vehicles (EVs) and the expansion of the smart home industry. Furniture manufacturers are integrating wireless charging pads into their designs, making it an essential part of infrastructure. Long-range wireless charging technology is gaining traction in the automotive industry, enabling charging while parked or on the move. Two primary wireless charging technologies, Inductive and Resonant, are being used, with Inductive being the most common due to its simplicity and cost-effectiveness. However, compatibility issues persist, particularly with Electric Vehicles and certain smartphone models, such as iPhones, which are yet to adopt a universal wireless charging standard.
However, Bi-directional wireless charging, which allows energy to flow both ways, is an emerging trend that could address this issue. Companies like Samsung and Apple are investing in this technology. The SmartThings Hub is becoming a popular platform for integrating wireless charging into smart homes, making it easier for consumers to manage their devices. Despite these challenges, the market is expected to grow significantly in the coming years, driven by advancements in technology and increasing consumer demand.
The market forecasting report includes the adoption lifecycle of the market, 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 analysis strategies.
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.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
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 global wireless chargers market is experiencing significant growth due to the increasing popularity of consumer electronic devices such as smartphones, computer laptops, smartwatches, and hearing aids. Inductive technology and resonant technology are the two main wireless charging technologies used in the market. Inductive charging uses a magnetic field to transfer energy, while resonant charging uses radio frequencies. The automotive industry is also adopting wireless charging technology for electric vehicles (EVs) and logistics electric vehicles. Long-range wireless charging is a promising technology for heavy vehicles and industrial robots. However, concerns over technical errors, short circuits, and accidents due to wireless charging are hindering market growth.
Moreover, the consumer electronics industry and automotive segment are the major contributors to the wireless chargers market. The cost per unit of wireless charging units is expected to decrease due to advancements in technology and mass production. Home charging units for consumer electronics devices and Qi-based charging stations for automotive are the two major applications of wireless charging. The market is also witnessing the integration of wireless charging with smart home automations, IoT, and AI. The market is expected to grow further due to the increasing demand for digital connectivity and remote work. However, the market faces challenges such as wear and tear of charging components and the need for thermal management systems to prevent overheating.
Similarly, the infrastructure development for wireless charging stations and the availability of charging pads in public places are key factors driving market growth. The market is expected to witness significant growth in the coming years due to the increasing demand for wireless charging technology in various industry verticals.
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 analysis, market growth inducers and obstacles, market forecast, 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 |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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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