Wireless Charging Market is expected to generate a revenue of USD 31.83 Billion by 2030, Globally, at 22% CAGR: Verified Market Research®

The market report is a good combination of qualitative and quantitative data that highlights significant market changes, obstacles that business and the competition must overcome, as well as new possibilities and trends in the global Wireless Charging Market.

JERSEY CITY, N.J., Feb. 2, 2023 /PRNewswire/ -- Verified Market Research® recently published a report, "Wireless Charging Market" By Application (Automotive, Consumer Electronics, Industrial), By Technology (Inductive, Resonant, RF), and By Geography.

As per the deep research carried out by Verified Market Research®, the global Wireless Charging Market size was valued at USD 5.32 Billion in 2021 and is projected to reach USD 31.83 Billion by 2030, growing at a CAGR of 22% from 2023 to 2030.

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Browse in-depth TOC on "Wireless Charging Market"

202 - Pages

126 – Tables

37 – Figures

Global Wireless Charging Market Overview

Wireless charging uses the mechanism of inductive charging which enables power transfer with the use of any wires. With the principle of electromagnetic induction, wireless charging can charge electric devices by creating an electromagnetic field using a coiled wire. Wireless charging has become popular for devices such as medical devices tablets, smartphones, smart wearable watches, vehicles, and others. There are many advantages of wireless charging over conventional ways of charging such as resistance to short-circuits or sparks, anticorrosive, resistant to damage by water, and many more. Besides its use in products under the consumer electronics segment, wireless charging is also getting adopted by many industries such as healthcare, automotive, aerospace, defense, etc.

The demand for wireless charging has emerged as a new trend in the market it has witnessed tremendous growth owing to factors such as growth in demand for electronic devices like smartwatches, smartphones, and others, increase in adoption of wireless charging in automotive, aerospace, and defense and healthcare industries are increasing the demand for wireless charging. In addition, the demand for wireless connectivity applications has further fuelled the demand in the market. Further, the increase in penetration of wireless charging in electric vehicles is expected to increase the market share of the Wireless Charging Market.

The rise is witnessed owing to an increase in demand for electrical vehicles, an increase in R&D to improve power transmission range to facilitate charging of vehicles from the long-range also to reduce the cost of charging devices and reducing in charging time required of the vehicles are some of the factor expected to increase market share in the forecasted period. Some other reasons behind the rise in demand are the higher efficiency of wireless charging, which comes in a smaller size, and is better in terms of security than wired charging which has increased trust in the minds of the consumers to adopt wireless charging technology. The factors that are restraining the growth of the Global Wireless Charging Market are the compatibility issues faced by the consumers such as devices that are not Qi-compatible enabled standards are not compatible with charging pads.

Verified Market Research® narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The "Global Wireless Charging Market" is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.

Key Players

The "Global Wireless Charging Market" study report will provide valuable insight with an emphasis on the global market.  The major players in the market are Murata Manufacturing Co., Ltd., Powerbyproxi ltd, Integrated Device Technology, Inc. Convenient Power HK Limited, Energizer Holdings, Inc., Leggett & Platt, Powermat Technologies, Qualcomm Incorporated, Texas Instruments Incorporated, and WiTricity Corporation.

Based on the research, Verified Market Research® has segmented the global Wireless Charging Market into Application, Technology, and Geography.

• Wireless Charging Market, by Application
• Automotive
• Consumer Electronics
• Industrial
• Healthcare
• Wireless Charging Market, by Technology
• Inductive
• Resonant
• RF
• Wireless Charging Market, by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

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