In 2023, the market for wireless charging is expected to be worth US$16,954.6 million. By the end of 2033, the market for wireless charging is expected to be worth US$ 150,889.5 million, an increase in sales of 24.4% CAGR.
Mobile electronics like smartphones, laptops, wearable technology, and gaming consoles are the ones that use wireless power transfer the most frequently. The demand for products with long expected lifespans, like smartphones and smartwatches, is expected to increase consumer preference for wireless charging for electronics, which is expected to result in a rapid market growth.
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The IoT is now widely regarded as the third technological wave as a result. Wireless power is essential for all of the non-fixed electronic devices that the Internet of Things (IoT) aims to connect, including wearables, laptops, tablets, digital cameras, camcorders, smartphones, and home appliances.
The wireless charging market refers to the technology that enables the charging of electronic devices without the need for cords or cables. Wireless charging uses magnetic induction or resonance to transfer energy from a charging pad or transmitter to a compatible device.
The wireless charging market is driven by the increasing adoption of mobile devices and the need for convenient and efficient charging solutions. Wireless charging technology can be used in a wide range of devices, including smartphones, laptops, tablets, wearables, and electric vehicles.
The market for wireless charging is expected to continue growing in the coming years, driven by factors such as the increasing availability of wireless charging infrastructure in public places and the growing demand for electric vehicles. The market is also being driven by the development of new technologies, such as long-range wireless charging and the integration of wireless charging into furniture and other everyday objects.
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Competitive Landscape
Companies developing wireless charging technology are focused to resolve incompatibility issues with their products to upscale their market penetration. To get rid of such issues, manufacturers of smart devices including HTC, LGF, and Nokia, are developing wirelessly chargeable handheld devices. Further, wireless power market players are developing standard wireless charging technology for advanced devices of various applications such as semiconductors, and medical.
Several companies are joining the league to benefit from the growing demand for wireless charging and establish their brand name. Market players are tapping white spaces in Asia to boost their regional presence. Established players profiled in the global wireless power market include:
- Convenient Power HK Ltd.
- WiTricity Corporation
- Murata Manufacturing Co. Ltd.
- Texas Instruments, Inc.
- Murata Manufacturing Co. Ltd.
- Murata Manufacturing Co. Ltd.
Key Segments
By Technology:
- Inductive
- Radio Frequency
- Resonant
- Others
By Industry Vertical:
- Electronics
- Industrial
- Aerospace & Defense
- Automotive
- Healthcare
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APECJ
- China
- Japan
- Middle East and Africa (MEA)
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