Dublin, Sept. 12, 2023 (GLOBE NEWSWIRE) -- The "Wireless Charging IC Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global wireless charging IC market is on track for substantial growth, with predictions indicating an increase from $2.86 billion in 2022 to $3.48 billion in 2023. This expansion is anticipated to continue at a Compound Annual Growth Rate (CAGR) of 21.6%. By 2027, the market is poised to reach $7.37 billion, reflecting a CAGR of 20.6%.
Energizing Progress with Technological Advancements
Technological advancements are emerging as a key trend in the wireless charging IC market, as major companies in the field focus on developing cutting-edge technologies and solutions to solidify their market standing. Notably, Spark Connected launched The Beast 2.0, an automotive in-cabin wireless charging solution featuring TDK's latest pattern coil technology. This Qi v1.3-compliant 15-watt car in-cabin wireless charging solution offers continuous charging during vehicle stop/start events, enhanced user safety features, and a wide input supply range.
Strategic Acquisitions Shape Market Dynamics
Strategic acquisitions are shaping the market landscape, exemplified by Renesas Electronic Corporation's acquisition of Dialog Semiconductor Plc. This acquisition extends Renesas' leadership position, offering embedded solutions for IoT, industrial, and automotive markets. Dialog Semiconductor Plc's expertise strengthens Renesas' market position as a semiconductor-based system solutions provider.
Asia-Pacific Leads the Charge
Asia-Pacific emerged as the largest region in the wireless charging IC market in 2022. This region, along with Western Europe, Eastern Europe, North America, South America, Middle East, and Africa, contributes to the global growth of the industry.
Higher Penetration of Smartphones Fuels Growth
The growth of the wireless charging IC market is further fueled by the higher penetration of smartphones and smartwatches. These devices, including wearables and computers, can be charged wirelessly, driving the demand for wireless charging IC. The market is set to expand as the proliferation of smartphones and smartwatches necessitates wireless charging solutions. For instance, in the UK, 95% of the projected population of 68.3 million by 2025 is expected to own smartphones, intensifying the demand for wireless charging solutions.
Market Characteristics
The wireless charging IC market encompasses sales of wireless charging IC used for radio charging, inductive charging, and resonance charging. As technological advancements take center stage, wireless charging IC manufacturers are striving to deliver innovative solutions to meet consumer needs.
Key Questions and Analysis
- What is the largest and fastest-growing market for wireless charging IC?
- How does the market correlate with the overall economy and demography?
- What factors will shape the market's trajectory?
This comprehensive report offers insights into market characteristics, size and growth, segmentation, competitive landscape, trends, and strategies. It tracks historical and forecast market growth by geography.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $3.48 billion |
| Forecasted Market Value (USD) by 2027 | $7.37 billion |
| Compound Annual Growth Rate | 20.6% |
| Regions Covered | Global |
Major players in the Wireless Charging IC market are
- NXP Semiconductors
- Broadcom Corporation
- Toshiba Corporation
- Semiconductor Components Industries LLC
- Qualcomm Inc.
- Texas Instruments Inc.
- ROHM Semiconductor
- Vishay Intertechnology Inc.
- Analog Devices Inc.
- MediaTek Inc.
- Integrated Device Technology Inc.
- Infineon Technologies AG
- STMicroelectronics
- Semtech
Key Topics Covered:
1. Executive Summary
2. Wireless Charging IC Market Characteristics
3. Wireless Charging IC Market Trends And Strategies
4. Wireless Charging IC Market - Macro Economic Scenario
4.1. COVID-19 Impact On Wireless Charging IC Market
4.2. Ukraine-Russia War Impact On Wireless Charging IC Market
4.3. Impact Of High Inflation On Wireless Charging IC Market
5. Wireless Charging IC Market Size And Growth
5.1. Global Wireless Charging IC Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Wireless Charging IC Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Wireless Charging IC Market Segmentation
6.1. Global Wireless Charging IC Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Receiver IC
- Transmitter IC
6.2. Global Wireless Charging IC Market, Segmentation By Power Range, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Low Range
- Medium Range
- High Range
6.3. Global Wireless Charging IC Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Smartphones
- Tablets
- Medical Devices
- Wearable Electronic Devices
- Other Applications
6.4. Global Wireless Charging IC Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Consumer Electronics
- Automotive
- IT (Information Technology) And Telecommunication
- Oil And Gas
- Mining
- Healthcare
- Other Industry Verticals
7. Wireless Charging IC Market Regional And Country Analysis
7.1. Global Wireless Charging IC Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Wireless Charging IC Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/icl31e
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