Wireless Charging Market (By Component: Transmitters, Receivers; By Technology: Inductive, Resonant, RF; By Application; By End-use) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

The global wireless charging market was estimated at USD 6.97 billion in 2023 and it is expected to surpass around USD 61.12 billion by 2033, poised to grow at a CAGR of 24.25% from 2024 to 2033. 

Key Pointers

• Asia Pacific regional market captured the highest market share of over 47% in 2023. 
• North America accounted for the second-highest market share of over 24.09% over the forecast period. 
• The Middle East & Africa region is expected to grow at the highest CAGR of over 30.07% over the forecast period. 
• The transmitter component segment accounted for the largest market share of over 67% in 2023. 
• The receiver component segment is expected to register a significant CAGR of 23.26% over the forecast period. 
• The inductive technology segment accounted for the largest market share of over 49% in 2023. 
• The radio frequency technology segment is expected to grow at the fastest CAGR of over 32.05% between 2024 to 2033. 
• The consumer electronics segment accounted for the largest revenue share of over 48% in 2023.
• The defense segment is expected to grow at the fastest CAGR of over 28.04% over the forecast period. 
• The healthcare segment is expected to grow at a considerable CAGR of 26.07% from 2024 to 2033.

Wireless Charging Market Overview

The wireless charging market has witnessed significant growth in recent years, driven by advancements in technology, increasing consumer demand for convenient charging solutions, and the proliferation of electronic devices. This overview provides insights into the current state of the wireless charging market, key trends, drivers, challenges, and future prospects.

Wireless Charging Market Growth

The growth of the wireless charging market is propelled by several key factors. Firstly, the increasing adoption of electronic devices, including smartphones, wearables, and smart home devices, drives the demand for convenient charging solutions. As consumers seek hassle-free charging experiences, wireless charging technology emerges as a compelling solution, eliminating the need for cumbersome cables and offering greater flexibility in device placement. Additionally, the integration of wireless charging capabilities into a wide range of applications, including automotive, healthcare, and industrial sectors, further expands the market potential. Moreover, advancements in wireless charging technology, such as improvements in efficiency, charging speeds, and compatibility, contribute to market growth by enhancing user experience and addressing previous limitations. Furthermore, growing environmental consciousness among consumers fosters the adoption of eco-friendly charging solutions, driving the demand for wireless charging devices that promote energy efficiency and reduce electronic waste. Overall, these growth factors collectively propel the expansion of the wireless charging market, shaping the future of power delivery across industries.

Report Scope of the Wireless Charging Market

Wireless Charging Market Trends:

• Integration Across Industries: Wireless charging technology is increasingly being integrated into various industries beyond consumer electronics, including automotive, healthcare, and industrial sectors, showcasing its versatility and applicability across diverse applications.
• Proliferation in Consumer Electronics: Leading smartphone manufacturers have embraced wireless charging technology, integrating it into flagship devices and expanding its presence in the market. Additionally, the popularity of wireless charging-enabled wearables such as smartwatches and earbuds continues to grow, driving market expansion.
• Expansion of Infrastructure: The deployment of wireless charging infrastructure in public spaces, workplaces, and transportation hubs is on the rise, aimed at providing consumers with convenient charging solutions on the go. Initiatives such as wireless charging pads in coffee shops, airports, and electric vehicles contribute to market growth.
• Emergence of Advanced Technologies: Continuous innovation in wireless charging technologies has led to the development of advanced solutions, including longer-range charging, faster charging speeds, and improved efficiency. These technological advancements enhance user experience and drive adoption across industries.                   

Component Insights

The transmitter component segment accounted for the largest market share of over 67% in 2023. This is attributed to the significant advancements in transmitter technology that have facilitated substantial improvements in power delivery, charging speed, and transmission range. These enhancements have significantly bolstered the efficiency and practicality of the technology, which is expected to drive the segment’s growth over the forecast period.

The receiver component segment is expected to register a significant CAGR of 23.26% over the forecast period. This growth is attributed to an increasing number of devices, including smartphones, smartwatches, and wireless earbuds, which are integrated with wireless charging receiver components. This integration simplifies the charging process and encourages consumers to opt for wireless charging options, which is expected to drive the segment growth further.

Technology Insights

The inductive technology segment accounted for the largest market share of over 49% in 2023. This is attributed to the adoption of technology along with standardization across the industry, especially with the Qi wireless charging standard. This standardization simplifies device compatibility and encourages manufacturers to integrate inductive technology into their product offerings. Moreover, the inductive technology provides the ease of effortlessly positioning devices onto charging pads, eliminating the need for complicated cable connections, which is driving the segment growth over the forecast period.

The radio frequency technology segment is expected to grow at the fastest CAGR of over 32.05% over the forecast period. This growth is attributed to the capability of RF-based wireless charging to facilitate extended-range power transfer, surpassing the limitations of traditional inductive methods. This flexibility in device placement makes RF charging more convenient and user-friendly. In addition, the RF technology can potentially charge multiple devices simultaneously within its coverage area, which is expected to augment the segment demand over the forecast period.

Application Insights

The consumer electronics segment accounted for the largest revenue share of over 48% in 2023 and is expected to continue the same trend over the forecast period. The growth of the segment is attributed to the widespread integration of the technology into smartphones, smartwatches, wireless earbuds, and various consumer electronics that have substantially augmented the potential user base. Furthermore, the growing popularity of wearables like smartwatches and wireless earbuds is expected to fuel the segment growth during the forecast period.

The defense segment is expected to grow at the fastest CAGR of over 28.04% over the forecast period. The integration of wireless charging into the defense sector, particularly in drones and unmanned vehicles, is expected to drive the segment growth. Moreover, this innovation enables UAVs to achieve automated battery recharging upon their return to allocated charging stations. Such wireless charging functionality substantially increases operational longevity and extends mission durations, which is anticipated to fuel the segment growth over the forecast period.

The healthcare segment is expected to grow at a considerable CAGR of 26.07% over the forecast period. The integration of wireless charging into medical devices such as wearable health monitors, smart medical implants, and portable diagnostic equipment is driving the segment growth. Moreover, the technology enables seamless and uninterrupted power supply to devices that require constant monitoring, ensuring that critical patient data is consistently transmitted to medical professionals, which is anticipated to fuel the segment growth over the forecast period.

Regional Insights

The Asia Pacific regional market captured the highest market share of over 47% in 2023. The increasing adoption of electric vehicles (EVs) across the Asia Pacific, especially in countries like China and Japan, is driving the demand for wireless charging infrastructure to support these vehicles. Moreover, the region boasts a large consumer electronics market, with countries like China, Japan, and South Korea being major players in device manufacturing, which is expected to drive market growth across the region.

North America accounted for the second-highest market share of over 24.09% over the forecast period. This growth is attributed to the region's ongoing technological advancements along with the surge in demand for the technology, particularly within the consumer electronics and automotive sectors, which propels market growth in the region. The rising reliance on electronic devices such as laptops, tablets, smartphones, and similar gadgets is expected to fuel the expansion throughout the forecast period.

The Middle East & Africa region is expected to grow at the highest CAGR of over 30.07% over the forecast period. This growth is attributed to the increasing adoption of smartphones and tablets in the region. Moreover, there is a growing awareness of the benefits of wireless charging in the region as the technology is considered to be a more convenient and safer alternative to wired charging, which is expected to boost the demand for the wireless charging market over the forecast period.

Wireless Charging Market Key Companies

• Belkin International, Inc.
• ConvenientPower HK Ltd.
• Energous Corporation
• Ossia Inc.
• Plugless Power LLC
• Powercast Corporation
• Powermat Technologies
• Renesas Electronics Corporation
• Samsung Electronics
• Texas Instruments, Inc.
• WiTricity Corporation

Wireless Charging Market Segmentations:

By Component 

• Transmitters
• Receivers

By Technology 

• Inductive
• Resonant
• Radio Frequency
• Others

By Application 

• Automotive
• Consumer Electronics
• Industrial
• Healthcare
• Defense
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)