Wireless Charging Market size is poised to exceed USD 35 Billion by the end of 2035, expanding at a CAGR of approximately 23% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of wireless charging was around USD 6 Billion. The demand for wireless charging will drive market growth since it eliminates the need for physically plugging in different end use products, for instance, electric vehicles or smartphones among others. Therefore, for the growing industry of electric vehicles or smartphones, it is one of the most convenient methods. By 2030, the worldwide electric vehicle stock is projected to have grown to about 350 million vehicles. Moreover, vehicle and battery manufacturers intend to make investments of USD 860 billion in the transition to EVs by 2030.
The rising application of wireless charging in the equipment used in the food industry is expected to boost the expansion of the wireless charging market. Nowadays, in the cold chain storage systems, wireless sensor network (WSN) are being used widely to monitor the temperature of the food products stored inside these cold chambers. The sensors used are often plugged to the electricity using wireless charging technology for greater and smooth efficiency. On the other hand, modern kitchen food preparation equipment, such as induction cooktops or electric kettle among others, also use wireless charging technology for enhanced customer experiences during its usage. These technologies improve the flexibility of kitchen layouts by eradicating the need for physical connectors.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~ 23% |
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Base Year Market Size (2022) |
~ USD 6 Billion |
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Forecast Year Market Size (2035) |
~ USD 35 Billion |
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Regional Scope |
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Technology (Inductive, Magnetic Resonance, Radio Frequency)
The inductive segment is estimated to account for 45% share of the global wireless charging market in the year 2035. The inductive technology can be integrated into various surfaces, objects, or furniture items, offering unique charging solutions. For instance, wireless charging pads can be embedded in desks, countertops, or even car interiors, enabling seamless charging capabilities in different environments. This integration potential expands the application and convenience of induction wireless charging. Furthermore, there have been various technological improvements in the charging power and speed over the years, which further augments the segment’s gain.
End Users (Automotive, Electronics, Healthcare, Defense, Industrial)
The healthcare segment will grow at a significant CAGR over the forecast period and is slated to garner a significant division of around 43% till 2035. Wireless charging is integrated directly into medical devices and equipment, ensuring that they remain powered up and readily available when needed. They can be used for charging patient monitoring systems, wearable medical devices, or implantable devices. Moreover, cables and connectors can harbor bacteria or other pathogens, making them difficult to clean and maintain properly. Wireless charging eliminates the need for a physical connection, reducing the risk of contamination.
Our in-depth analysis of the global market includes the following segments:
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Technology |
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Application |
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Implementation |
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End Users |
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The wireless charging market in Asia Pacific is anticipated to grow at the highest CAGR in the upcoming years. It is projected to be the largest with a share of about 34% through 2035. Rising research and development of wireless technology in the region will drive market extension. China, as a technology powerhouse, is dominating the battle of wireless charging, accounting for more than 50% of total patents in the wireless charging sector. China is the country of origin for around 40% of the total patents in the wireless electric vehicle charging domain, followed by Japan. Furthermore, the rising demand for consumer electronics and electric vehicles will further drive the market expansion.
North American Market Statistics
The North America wireless charging market will be expected to be the second largest, registering roughly 28% in the near future. The rising popularity of smart wearable gadgets will drive market enlargement. The realm of smart wearables, such as smartwatches, fitness trackers, and wireless earbuds, has embraced wireless charging as a convenient and user-friendly experience in the region. Users can simply place their smart wearable device on a charging pad or dock, and the charging process begins automatically. The number of smart wearable device users in the United States climbed from around 20% (of the population) in 2021 to about 25% in 2022, and it is expected to reach about 27% in 2024.
Author Credits: Abhishek Verma, Hetal Singh
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