Austin, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The Wireless Charging Market Share, Estimated at USD 5.3 Billion in 2023 would hit a value of USD 31.96 Billion by 2032 experiencing a compound annual growth rate (CAGR) of 22.1% throughout the forecast period from 2024 to 2032.
Download PDF Sample of Wireless Charging Market @ https://www.snsinsider.com/sample-request/1361
Key Players
- Samsung Electronics Co.
- Qualcomm Incorporated Integrated Device Technology
- Fulton Innovation LLC
- WiTricity Corporation
- Murata Manufacturing Co. Ltd.
- Sony Corporation
- Texas Instruments
- Energizer Holdings Inc
- Renesas Electronics Corporation
- Powermat Technologies Ltd
Wireless Charging Market Report Key Highlights:
- Adoption of wireless charging is increasing rapidly across industries because it offers convenience, safety and efficiency.
- The increasing use of smartphone and electric vehicle is a major factor fostering the growth of wireless charging market.
- Standardization efforts and advancements in charging speed are crucial for market expansion.
- The automotive industry is a key growth driver, with wireless charging becoming an essential feature for electric vehicles.
- Asia Pacific is proving to be a prominent market with increasing scope of growth.
The elimination of tangled cords, coupled with the integration of wireless charging into everyday objects, is driving consumer adoption. Wireless charging for EVs is rapidly rising with the automotive sector shifting to electric vehicles. Also, evolution of technology like long-distance and bi-directional wireless charging have bettered the scenario.
A 2021 study by Strategy Analytics revealed a strong preference for wireless charging among smartphone users, underscoring the technology’s appeal. Moreover, the integration of wireless charging into furniture and other everyday objects is gaining traction, with the furniture-integrated wireless charging market projected to reach $1.8 billion by 2028.
Another driver is the opportunity for bi-directional wireless charging to enable vehicle-to-everything (V2X) capabilities. This can help support an environmentally friendly energy ecosystem by allowing electric vehicles to contribute back its power with the grid. Furthermore, initiatives for industry standardization taken up by wireless power consortium to create single global standards are expected to aid in this market growth.
Wireless Charging Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 5.3 billion |
| Market Size by 2032 | USD 31.96 billion |
| CAGR | 22.1% |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Growth Drivers |
|
Do you have any specific queries or need any customization research on Wireless Charging Market, Enquire Now @ https://www.snsinsider.com/enquiry/1361
Trends in the Wireless Charging Industry
Recent activities, such as new fast wireless charging standards launched for faster speeds and industry collaboration to improve technology, along with the support of electronic home devices are among emerging trends in 2018 Wireless Charging market.
Five years on from the introduction of Energous, but only one month prior to our most recent article (both firming up an age-old ambition remains commercial reality),
- In February 2024 leading industry consortium AirFuel Alliance announced a new wireless charging standard better supporting fast-charging speeds and greater efficiency.
- New Strategic Partnership with Nichicon Ossia Inc., the company behind Cota Real Wireless Power, has partnered with global power electronics manufacturer and leader in NiMH batteries: Major MilestoneASC announced its partnership this summer across their incredible diverse portfolio of battery size form factors (SLB).
- In a similar space, Samsung has already expanded its wireless charging ambitions to smart home automation with the launch of SmartThings Hub back in February 2023, widening what else is possible down the track.
The Rise of Wireless Charging: A Catalyst for Innovation
Wireless charging has grown rapidly as a feature on smartphones with almost 70% of global smartphone shipments in 2023 supporting wireless charging. Standards, like the Qi standard have increased consistency and dependability for computing devices charging system between contrivances. One of the biggest obstacles does continue to be developing wireless charging technology that is faster and more efficient, though. Addressing this will be key to broadening the market reach and making it a mainstream charging solution.
A Breakdown of the Wireless Charging Market By Segment!
Inductive technology currently dominates the wireless charging landscape due to its efficiency, convenience, and widespread adoption. The Qi wireless charging standard, in particular, has gained significant traction.
On the other hand, the receiver segment is expected to witness the highest growth, driven by the increasing number of devices incorporating wireless charging capabilities.
The automotive industry is emerging as a key growth driver for wireless charging. The seamless charging experience offered by wireless technology aligns perfectly with the evolving needs of EV owners. As the electric vehicle market expands, so too will the demand for wireless charging infrastructure.
Regional Landscape: A Global Phenomenon
At present, the Wireless Charging market is creating sales for more than 35% of global revenue by regions like North America. It is estimated that this leadership will be due to the massive penetration of smartphones in the area, as well the presence there are main companies like Apple), Samsung and Energous—which stimulate innovation and market growth. Their consumers in the region are also very fast to adapt to any new technologies, hence further driving up the market.
This fact was driven by the dominance of smartphones in countries like China, South Korea and Japan which led to over 75% adoption rate across Asia Pacific region making this the fastest growing mobile gaming market. The growing demand for electric vehicles and dominance of China as a manufacturing hub are also driving the rapid growth of the wireless charging market in this region.
Buy a Single-User PDF of Wireless Charging Market Analysis & Outlook Report 2024-2032 @ https://www.snsinsider.com/checkout/1361
What We Provide In Wireless Charging Market Report:
- In-depth analysis of emerging trends and opportunities in the wireless charging market.
- Detailed insights into the integration of wireless charging with electric vehicles and other applications.
- Comprehensive assessment of market growth drivers and challenges.
- Strategic recommendations for businesses to capitalize on market opportunities.
- Forecasts and projections for market growth and segment performance from 2024 to 2032.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1Wafer Production Volumes, by Region (2023)
5.2Chip Design Trends (Historic and Future)
5.3 Fab Capacity Utilization (2023)
5.4 Supply Chain Metrics
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and supply chain strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Wireless Charging Market Segmentation, By Technology
- Inductive
- Magnetic Resonance
- Radio Frequency
- Others
8. Wireless Charging Market Segmentation, By Implementation
- Transmitters
- Receivers
9. Wireless Charging Market Segmentation, By Discrete Industry
- Automotive
- Consumer Electronics
- Healthcare
- Other Applications
- Industrial
- Aerospace
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Use Case and Best Practices
14. Conclusion
Access Complete Report Details of Wireless Charging Market Report 2024-2032 @ https://www.snsinsider.com/reports/wireless-charging-market-1361
[For more information or need any customization research mail us at info@snsinsider.com]
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
