Wireless Charging Market to Reach US$ 25.8 Billion by 2024 and CAGR of 24.4%

Global Wireless Charging Market Research Report and Forecast Till 2024

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Report Description and Highlights

Report Description

Wireless Charging Market Report By Technology (Inductive Charging, Resonant Charging, Radio Frequency Based Charging and Others), Application (Consumer Electronics, Automotive, Healthcare, Industrial, Defense and Others), Transmission Range, Region The global wireless charging market has witnessed robust growth over the past few years. Continuous advancements in wireless charging technologies along with the convenience offered by wireless chargers have provided an impetus to the growth of the market.

Market Overview: According to the latest report by IMARC Group, titled “Wireless Charging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global wireless charging market reached a value of US$ 6.9 Billion in 2018, growing at a CAGR of 24.6% during 2011-2018.

Wireless charging is the process of charging battery-operated appliances without plugging them to a live power source. It operates on the principle of electromagnetic induction which constitutes a transmitter to conduct the energy and a receiver to charge the battery. Wireless charging is a convenient and reliable technology that eliminates the need for power connectors and cables, thus providing a portable and cost-effective alternative to traditionally wired charging systems. Catalyzed by a rise in the utilization of electronic devices such as smartphones, laptops, wearable and household electronics, the demand for wireless charging has been witnessing strong growth.

Report Description and Highlights

Report Description Market Trends:

A major factor driving the growth of the global wireless charging market is the convenience of charging electronic devices at any time. Wireless charging systems ensure hassle-free portability of appliances and eliminate the need of bulky power and charging devices. Owing to these benefits, wireless charging devices have penetrated various industrial sectors such as consumer electronics, industrial equipment and automotive. The growth of these end-user industries are likely to drive the growth of the wireless charging market over the coming years. Moreover, technological advancements in the industry are expected to improve the power transmission range of the existing wireless charging devices by enabling them to charge over longer distances, thereby enhancing the utility for the customer. Looking forward, the market value is projected to exceed US$ 25.8 Billion by 2024, expanding at a CAGR of 24.4% during 2019-2024.

Wireless Sensors Market Segmentation: Market Segmentation by Technology o Inductive Charging Request for a sample report: https://www.imarcgroup.com/wireless-charging-market/requestsample

Market Forecast

Sample Figure: Global: Wireless Charging Market Forecast: Sales Value (in Billion US$), 2019-2024

184.3

191.7

199.3

207.3

2019

2020

2021

2022

215.6

224.2

2023

2024

Market Segmentation

Report Description

o Resonant Charging o Radio Frequency Based Charging o Others The report has segmented the wireless charging market by technology into inductive, magnetic resonance, radio frequency and others. Currently, inductive technology is the most popular technology used in wireless charging devices, accounting for the largest market share.

Market Segmentation by Application • • • • • •

Consumer Electronics Automotive Healthcare Industrial Defense Others

Wireless charging is used across consumer electronics, defense, healthcare, industrial and automotive segments. Amongst these, consumer electronics dominate the market, holding the leading share.

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Market Segmentation

Report Description Market Segmentation by Region • • • • •

North America Europe Asia Pacific Latin America Middle East and Africa

Region-wise, the market has been segmented as North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Amongst these, Asia pacific represents the leading market for wireless charging on account of high demand for electronic devices in countries such as Japan, South Korea, China, and India.

Market Segmentation by Transmission Range • • •

Short Range Medium Range Long Range

The market has also been categorized on the basis of transmission range into short range, medium range and long-range wireless chargers. Short range transmission is currently the most popular segment.

Regional Segmentation

North America

Europ e

Asia- Pacific

Latin America

Middle East and Africa

Market Segmentation

Report Description Competitive Landscape:

The competitive landscape of the market has also been examined with some of the key players.

• • • • • • • • • •

Convenient Power HK Limited Energizer Holdings, Inc. Integrated Device Technology Leggett & Platt, Incorporated Murata Manufacturing Co. Ltd Powermat Technologies Ltd. Qualcomm Incorporated Texas Instruments Incorporated Witricity Corporation Samsung

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Report Description and Highlights

Report Description

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