Global Wireless Charging Market
Dublin, Jan. 16, 2023 (GLOBE NEWSWIRE) -- The "Wireless Charging Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global wireless charging market.
This report focuses on wireless charging market which is experiencing strong growth. The report gives a guide to the wireless charging market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
The global wireless charging market is expected to grow from $9.58 billion in 2021 to $12.26 billion in 2022 at a compound annual growth rate (CAGR) of 27.96%. The wireless charging market is expected to reach $34.77 billion in 2026 at a compound annual growth rate (CAGR) of 29.77%.
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Major players in the wireless charging market are Convenient Power HK Limited, Energizer Holdings Inc, Sony Corporation, Leggett & Platt, Murata Manufacturing Co Ltd, Qualcomm Incorporated, Samsung, Powermat Technologies, Fulton Innovation LLC, Renesas Electronics Corporation, Witricity Corporation, TDK Corporation, Infineon Technologies, Anker, Evatran LLC and Xiaomi.
The wireless charging market consists of sales of wireless charging devices by entities (organizations, sole traders, and partnerships) that refers to the transfer of power from a power outlet to the device without the need for a connecting cable. It uses electromagnetic induction to transfer energy from the charger to a receiver. The charger has an induction coil to generate an alternating electromagnetic field, which the receiver coil converts back into electricity and supplies into the battery.
The main components of wireless charging are transmitters and receivers. Transmitters refer to the charging station that transfers energy and it remains connected to an outlet. The transmitter is used to boost overall efficiency and safeguard the wireless charging system completely. Inductive charging, resonant charging and radio frequency-based charging are the technologies used in wireless charging with short, medium and long transmission ranges. Wireless charging is used in consumer electronics, automotive, healthcare, industrial, defense and others.
North America was the largest region in the wireless charging market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wireless charging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing sale of smartphones is expected to propel the growth of the wireless charging market. Smartphone devices feature a built-in computer that provides various features such as an operating system, web browsing, and the capacity to run software programs. Wireless chargers offer convenience and increased durability to smart device users, making them a popular choice amongst customers.
According to Counterpoint Research, a Hong Kong-based research firm specializing in mobile & technology products, would smartphone sales totaled for $448 billion in revenues for 2021, an increase of 7% compared to the values for 2020. Also, according to Gartner Inc., a US-based consulting firm, in March 2022, worldwide smartphone sales grew 6% in 2021, from 1,351,836.5 (Thousands of Units) in 2020 to 1,433,859.4 in 2021. Therefore, the increase in sales of smartphones will drive the wireless charging market.
Technological innovation is a key trend gaining popularity in the wireless charging market. Major companies operating in the wireless charging market are focused on providing technologically advanced solutions to strengthen their market position. These companies are implementing next-generation wireless charging technologies into their products, such as electromagnetic induction, automation, radio frequency waves, near field waves, capacitive wireless technology, and others, to enhance the charging speed and usability.
For instance, in April 2021, Xiaomi (Mi), a China-based consumer electronics company, introduced a new charging system - Mi Air Charge Technology. It enables users to charge electronic devices remotely without the necessity of wires or wireless charging stands. Its phase control array composed of 144 antennas transmits millimeter-wide waves directly to the phone through beamforming.
In June 2022, Siemens, a Germany-based industrial manufacturing company, acquired WiTricity for $25 million. With this acquisition, Siemens and WiTricity will work to drive innovation in the emerging wireless EV charging industry and significantly narrow the gap in wireless charging for electric passenger and light-duty commercial vehicles. Witricity is a US-based wireless charging technology company.
The countries covered in the wireless charging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
No. of Pages
2022 - 2026
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2026
Compound Annual Growth Rate
Key Topics Covered:
1. Executive Summary
2. Wireless Charging Market Characteristics
3. Wireless Charging Market Trends And Strategies
4. Impact Of COVID-19 On Wireless Charging
5. Wireless Charging Market Size And Growth
5.1. Global Wireless Charging Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Wireless Charging Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Wireless Charging Market Segmentation
6.1. Global Wireless Charging Market, Segmentation By Components, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.2. Global Wireless Charging Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Radio Frequency Based Charging
6.3. Global Wireless Charging Market, Segmentation By Transmission Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.4. Global Wireless Charging Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7. Wireless Charging Market Regional And Country Analysis
7.1. Global Wireless Charging Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Wireless Charging Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
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