Global Wireless Charging Market Size - Industry Trends & Forecast Report 2027 - PDF document

Global wireless charging market was worth USD 3. 4 Billio n in the year 202 0 Global Wireless Charging Market Size - Industry Trends & Forecast Report 2027 Summary Global Wireless Charging Market, By Technology (Inductive, Resonant, Radio Frequency, and Others) and Industry Vertical (Electronics, Automotive, Industrial, Healthcare, and Aerospace & Defense), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Trend Analysis, Competitive Ma rket Share & Forecast, 2021 - 2027 . A study, recently conducted by the strategic consulting and market research firm, BlueWeave Consulting , revealed that the global wirel ess charging market was worth USD 3. 4 Billio n in the year 2020. The data yielded by the study further reveals that the market is estimated to grow at the CAGR of 23.1%, earning revenue of around USD 15.3 Billion by the end of 2027 . Wireless charging is the process of recharging the batteries of electrical gadgets without the use of physical wires. These devices include a transmitter or charging station for transmitting energy, and a receiver (embedded within the device) that absorbs the energy to charge the battery. A large number of manufacturers are offering phones with the feature of wireless charging to keep up with the View report Press release Sample report Global wireless charging market was worth USD 3. 4 Billio n in the year 202 0 growing demand for wireless charging. Increased use of efficient charging systems for portable electronics and w earable devices, which can improve device resilience, is expected to keep the electronics wireless charging market growing at a healthy pace . Global Wireless Charging Market Size - Industry Trends & Forecast Report 2027 The global wireless charging market was worth USD 3.4 Billion in 2020 and is further projected to reach USD 15.3 Billion by 2027, at a CAGR of 23.1% during 2021 - 2027 (forecast period).There are many benefits of wireless charging to the customer such as pro duct designing, usability, and reliability. The maximum use of the internet creates charging problems for every smartphone and device, which can be determined by using an RF energy base fast – wireless charger. Effective demand for efficient charging system s is probable to drive the growth of the wireless charging market. Large acceptance of efficient charging systems for portable electronics and wearable devices that help in increasing the durability of the device is probable to ensure the substantial growt h of the electronics wireless charging industry. Global Wireless Charging Market Overview: The reliable, convenient, and safe technology to power and charge electrical devices is wireless charging. This wireless charging also provides efficient, cost - effective, and safer advantages than traditional charging systems by removing the use of physica l connectors and cables. The primary requirement of the portable electronics product is wireless charging targeted by IoT such as smartphones, laptops & tablets, wearable electronics, and household electronics. Due to convenience and safety, the demand for wireless charging is increasing rapidly, especially in the healthcare sector. Growth Drivers Sales of electric devices Increased sales of electric vehicles aid in the evolution of the portable electronics and wearables market. Additionally, the n eed to gather ambient RF energy is one of the major factors driving demand for the product. The cost of these products is relatively high, and charging is sluggish, which limits market expansion. However, due to technological developments, the impact of th ese factors is likely to decrease in the coming years. Wireless charging, which uses wireless technology, is a suitable, safe, and consistent way for charging and powering a wide range of electrical equipment in a variety of industries, including commercia l, industrial, automotive, and residential. Increase in the popularity of IoT The rising popularity of the Internet of Things (IoT), which is considered the third wave of technology is an important reason influencing the wireless charging market. Wire less charging is the most important requirement for IoT - targeted Global wireless charging market was worth USD 3. 4 Billio n in the year 202 0 portable electronic items such as cellphones, digital cameras, laptops, and tablets. Thus, an increase in the popularity of the IoT market is probable to facilitate market growth during the f orecast period. The availability of efficient charging solutions for portable electronics and wearable gadgets can improve the device's longevity, which is expected to drive the significant growth of the electronics wireless charging market. Restraints Compatibility issues restrict the adoption of wireless charging devices Only Qi charging pads can be used with Qi - compatible devices. A number of prominent manufacturers offer external wireless charging options for devices that aren't Qi - compatible. Wir eless chargers come in a variety of shapes and sizes, including charging pads, charging bowls, and charging boxes, and are essential for items with compatibility issues. A user is compelled to purchase a huge number of wireless chargers to accommodate vari ous products. While some manufacturers offer multi - device wireless chargers, the overall issue of compatibility with non - Qi - enabled devices is predicted to limit wireless charging device adoption. Impact of COVID - 19 in the industry COVID - 19 has caused turmoil in almost every industry, including the wireless charging market. The pandemic has disrupted every sector's global supply chain, resulting in major economic losses. The wireless charging market is experiencing the same challenge s. The market players had to face several obstacles, including obtaining raw materials and delivering finished items in the midst of a disrupted supply chain. Additionally, due to government restrictions on the sale of electronic gadgets during the pandemi c, consumers began to spend more on essential items. As a result, the COVID - 19 pandemic has hindered the growth of the wireless charging market. Global Wireless Charging Market: By Technology Based on the source, the global wireless charging market is segmented into Inductive, Resonant, Radio Frequency, and Others. The inductive charging segment is the dominant segment among all. Inductive charging is mostly used to charge electronic devices and electric vehicles wirelessly. Magnetic resonance allows p ower to be delivered over longer distances between receiver and transmitter. The efficiency of the products is determined by the amount of electricity available to charge the device using a wireless transmitter. It's a crucial factor in wireless power sinc e it controls how hot the battery gets and how much energy has been squandered. The higher the efficiency, the smaller and less expensive the charger must be to produce the same amount of electricity. Global Wireless Charging Market: By Application Ba sed on the application, the global wireless charging market is segmented into Electronics, Automotive, Industrial, Healthcare, and Aerospace & Defense. The healthcare segment has the dominant share among all. Wireless charging technology has been adopted a nd implemented increasingly in healthcare and medical applications. Wireless chargers are the best alternative to conventional wired charging machines, which helps in eliminating the transfer of any impurities Global wireless charging market was worth USD 3. 4 Billio n in the year 202 0 or bacteria during the charging process. Wirel ess charging technology is in high demand in the healthcare industry due to the growing demand for technology in sterile environments such as hospitals and laboratories. Global Wireless Charging Market – Regional Insights Based on the region, the glo bal wireless charging market is categorized into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America held the largest share in terms of revenue in 2020 due to the expansion of the electronics market and the increase i n the sales of electronic devices in the region. Europe is the second - largest revenue contributor, with significant growth projected over the forecast period due to increased demand for fuel - efficient and long - charging systems for electronic devices, such as portable devices and power tools. Recent Developments In April 2020, OnePlus announced the Warp Charge 30 wireless charging support in the OnePlus 8 series launch. The company has developed a Warp wireless direct charging architecture that allows real - time communication between the smartphone and the customiz ed chip and wireless charger. In May 2021, WiTricity, the company that is wirelessly charging the future of mobility, launched an office and product development lab in Auckland, New Zealand, which will be overseen by Michael Kissin and Jonathan Beaver , two long - time wireless charging experts. Competitive Landscape Key players in the global wireless charging market are Samsung Electronics Co. Ltd., Qualcomm Incorporated, Texas Instruments, Integrated Device Technology Inc., Powermat Technolog ies Ltd., WiTricity Corporation, Energizer Holdings Inc., Murata Manufacturing Co. Ltd., Sony Corporation, and Fulton Innovation LLC, and other key manufacturers. The global wireless charging market is witnessing intense competition among market player s based on product quality, features, and pricing strategies. Also, consumer electronics market players are concentrating on strategic alliances with wireless charging producers to increase their product features. Scope Attribute Details Years Considered Historical data – 2017 - 2020 Base Year – 2020 Global wireless charging market was worth USD 3. 4 Billio n in the year 202 0 Forecast – 2021 – 2027 Facts Covered Revenue in USD Million Market Coverage U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, AU AE, South Africa, Saudi Arabia Product/Service Segmentation By Technology, By Industry Vertical, By Region Key Players Key players for global wireless charging market are Samsung Electronics Co. Ltd., Qualcomm Incorporated, Texas Instruments, Integrate d Device Technology Inc., Powermat Technologies Ltd., WiTricity Corporation, Energizer Holdings Inc., Murata Manufacturing Co. Ltd., Sony Corporation, and Fulton Innovation LLC and other key manufacturers. By Technology o Inductive o Resonant o Radio Frequency o Others By Industry Vertical o Electronics o Automotive o Industrial o Healthcare o Aerospace & Defense By Region North America o Latin America Global wireless charging market was worth USD 3. 4 Billio n in the year 202 0 o Europe o Asia Pacific o Middle East o Africa FAQs 1. What is the current size of the global wireless charging market? Answer: The global wireless charging market has reached USD 3.4 Billion in 2020. 2. What are the major facto rs driving the growth of the global wireless charging market? Answer: Growing acceptance of efficient charging systems for portable electronics and wearable devices that help in increasing the durability of the device is contributing to the substantial gr owth of the electronics wireless charging industry. 3. Who are the key players in the global wireless charging market? Answer: The key players in the global wireless charging market are Samsung Electronics Co. Ltd., Qualcomm Incorporated, Texas Instru ments, Integrated Device Technology Inc., Powermat Technologies Ltd., WiTricity Corporation, Energizer Holdings Inc., Murata Manufacturing Co. Ltd., Sony Corporation, and Fulton Innovation LLC, and other key manufacturers. 4. Which application segment acc ounted for the largest share in the global wireless charging market? Answer: Based on application, the healthcare segment accounted for the largest share in the global wireless charging market. Global wireless charging market was worth USD 3. 4 Billio n in the year 202 0 5. Which technology segment accounted for the largest share in global wireless charging market? Answer: The inductive segment is growing at a higher rate in the global wireless charging market. About us Blueweave Consulting offers a one - stop solution for your market intelligence needs for any service or product. You get well - researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and tim ely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk - return trade - off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us nfo@blueweaveconsulting.com Global wireless charging market was worth USD 3. 4 Billio n in the year 202 0