Global Wireless Charging Market Overview
With wireless charging technology continuously making its way into consumer electronics, electric vehicles, and industrial automation, the scope of the global market looks bright. To capitalize on emerging opportunities, top industry leaders like Energizer Holding, Inc., Powermat Technologies, Xiaomi, Inc., PowerbyProxi, Qualcomm Technologies Inc., and WiTricity Corporation are employing various organic and inorganic strategies.
Industry Strategies and Innovations
Leading companies are constantly innovating to introduce novel wireless charging solutions across lucrative regions. They are also expanding their presence through new facility establishments as well as partnerships, mergers, and agreements.
In October 2024, Energizer Portable Power introduced a novel range of power solutions in the Indian market. The new lineup includes fast-charge power banks, wireless charging pads, versatile car mounts, and portable air compressors. These innovative solutions are designed to revolutionize the way Indian consumers power their devices.
The company’s new wireless charging pad features an ultra-thin design with wireless charging up to 15w. It is ideal for office, home, and on-the-go. With these power solutions, Energizer Portable Power is looking to strengthen its presence in India.
Similarly, in May 2022, Powermat Technologies, a global leader and developer of advanced wireless power solutions, introduced the new Powermat PMT 100 Wireless Power Solution. The new solution is crafted to meet the needs of small medical and smart home internet of things (IoT) devices.
Market Growth and Forecast
According to a recent report published by Coherent Market Insights, the global wireless charging market is projected to touch a valuation of US$ 30 billion in 2030, up from US$ 7.1 billion recorded in 2023. Global demand for wireless charging solutions will likely rise at a staggering CAGR of 22.9% during the assessment period.
Increasing popularity and usage of wireless chargers in consumer electronic devices is a prominent factor boosting growth of the global wireless charging market. Similarly, increasing government investments in developing and expanding EV wireless charging infrastructure will likely benefit the industry in the coming years.
Wireless charging is gaining immense popularity across industries like consumer electronics and vehicles. This is because it offers numerous benefits, including convenience and improved safety, compared to traditional charging methods. Thus, high adoption of charging technology in these industries will play a key role in fostering sales growth.
Wireless charging technology also has the ability to charge multiple devices, such as smartphones and earbuds, simultaneously. This is encouraging consumers to opt for electronic devices with wireless charging capabilities.
“The influx of wireless charging technology in the thriving electric vehicles (EV) industry is expected to generate lucrative growth opportunities for the global wireless charging market during the forecast period,” says a lead analyst at Coherent Market Insights.
Regionally, Asia Pacific dominates the global wireless charging industry, owing to surging demand for wireless technologies in nations like China, South Korea, Japan, and India. High penetration of advanced technologies like 5G is also supporting industry growth in the region.
