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Market Insight- Global Wireless Charging Market

Market Overview

Wireless charging or inductive charging is a type of cordless power transfer wherein it uses electromagnetic induction to provide electricity to portable devices. Wireless charging is typically used to supply power to smartphones, tablets, and smartwatches. It is based on the principle of inductive power transfer (IPT) wherein an electromagnetic field between two objects is used for transferring energy. Wireless charging is comprised of two components namely receiver and transmitter. Moreover, it uses other technologies such as resonance charging and radiofrequency technology. Wireless charging is also used for charging vehicles, electric toothbrushes, power tools, and medical devices. In this, portable equipment can be placed close to a charging station or inductive pad without the contact or precise alignment. Apart from inductive technology, resonance charging, and radiofrequency technology, laser beam or microwave or conductive technologies are also used for energy transfer.

The global wireless charging market is estimated to account for US$ 7,139 Mn in 2019 and is expected to grow at a CAGR of 33.5% during the forecasted period (2019-2027)

Market Dynamics- Driver

  1. Increasing sales of electric vehicles worldwide are expected to drive growth of the global wireless charging market during the forecast period

The demand for electric vehicle is increasing rampantly, owing to low maintenance and cost-effective features. According to the Edison Electric Institute (EEI), in 2018, the electric vehicle sales increased by 81% as compared to 2017. Electric vehicles are powered by rechargeable batteries that are charged using electricity. Over the years, automakers have started using wireless charging since it is convenient and easy to use. The driver needs to part their car over the charging pad. This also provides sophisticated experience as there is no need to plug-in charging cables. Furthermore, strict regulatory policies related to harmful emissions have led to increase in adoption of electric vehicles thereby driving growth of the global wireless charging market in the near future.

  1. Growing consumer awareness regarding wireless charging is expected to propel the global wireless charging market growth over the forecast period

Technological advancements in mobile devices such as embedded wireless charging technology have shifted preference of consumers towards wireless charging. Increasing number of mobile device vendors are incorporating wireless charging feature in high-end models of laptops, smartphones, wearable, and notebooks, which in turn, is expected to support the global wireless charging market growth the over the forecast period. For instance, Google Nexus 6 smartphone is enabled with Qi wireless charging technology.

Asia Pacific region dominated the global wireless charging market in 2019, accounting for 32.5% share in terms of value, followed by North America and Europe.

Wireless Charging  | Coherent Market Insights

Market Dynamics- Restraints

  1. Unavailability of cohesive wireless charging standards is expected to restrain growth of the global wireless charging market during the forecast period

Presently, there are two standards for wireless charging based on technologies Qi wireless power standard by Wireless Power Consortium (WPC) and Airfuel Alliance. Airfuel Alliance has been formed by the merger of PMA standard by Power Matter Alliance (PMA) and Rezence by All for Wireless Power (A4WP). The wireless charger should be compliant with any of the above standards and it can work only with those devices that support the same standard. Furthermore, the global wireless charging industry is yet to arrive at an agreement for common standard, which is suitable for all technologies. Hence, absence of unified charging standards is expected to restrain the global wireless charging market over the forecast period.

  1. Slow charging rate of wireless charging is expected to hinder the global wireless charging market growth over the forecast period

Wireless charging is slower than conventional charging and takes twice as long as wired chargers to charge a device. This is due to inductive power transfer requiring longer time to induce an electromagnetic field. This further delays transfer of electric current from charging pad to device, extending the overall time required for charging. This leads to consumers preferring wired charging over wireless. Hence, slow charging rate is expected to hinder the market growth over the forecast period.

Market Opportunities

  1. Constant need for power source for IoT network is expected to present major growth opportunity

Increasing adoption of Internet of Things is accelerating the need for constant power source for devices connected to the IoT network. IoT network need to be working constantly and therefore requires a constant power source. As electric charging methods are complicated and sometimes are not compatible with IoT devices, wireless charging is a convenient method to power an IoT network. According to Ericsson networking and telecommunications equipment and service companies, by 2021 the number of IoT connected devices is expected to reach 28 billion. This is expected to create potential market opportunities for wireless charging companies.

  1. Growing need for safe charging industrial applications is expected to provide lucrative business opportunities

There is constant introduction of new technologies such as drones and emphasis on factory automation. Furthermore, the equipment in industrial settings operate in harsh environments and are exposed to heat, moisture, dust, and dirt. Moreover, wireless charging eliminates the requirement for power connectors thereby reducing chances of hazards, which can be triggered due to a stray spark while connecting or disconnecting a current-carrying power cable. Prominent vendors such as Powerbyproxi and WiTricity have already developed wireless charging, which can be operated in harsh environments in industrial setups.

Wireless Charging  | Coherent Market Insights

In global wireless charging market, by application segment consumer electronics sub-segment dominated the global wireless charging market in 2019, accounting for 59.3% share in terms of value, followed by Industrial and automotive respectively.

Wireless Charging  | Coherent Market Insights

Market Trends

  1. Rampant growth of internet connectivity in emerging economies is expected to boost the demand for wireless charging

There has been tremendous increase in internet connectivity, owing to high adoption of smartphones in emerging economies such as Chile, Mexico, Brazil, and Argentina. According to Cisco Systems, a networking solution provider, in 2015, IP traffic in Latin America grew by 25%, and mobile Internet traffic recorded a growth of 87%. Growth in demand for smartphones will lead to demand for wireless charging, and growth of Internet connectivity will lead to machine-to-machine and IoT connectivity. Since the devices in IoT network require constant power sources, there is a high potential for growth of the global wireless charging market.

  1. Increasing adoption of wireless charging in hospitality and charging industry

Travelers often face charging issues regarding their mobile devices while traveling. Some airport authorities have started providing wireless charging stations for passengers at the airport. For instance, Emirates, a Dubai-based, airline carrier has installed 30 wireless charging valet trays at its first and business class lounges at the Dubai International Airport. Furthermore, in the hospitality industry in the UAE, hotels such as the Sheraton Dubai have set up charging stations for customer convenience.

Value Chain Analysis

Wireless Charging  | Coherent Market Insights

Competitive Section

Key players operating in the global wireless charging market are Energizer Holding, Inc., PowerbyProxi, Qualcomm Technologies, Inc., ConvenientPower HK Limited, Powermat Technologies, WiTricity Corporation, Integrated Device Technology Inc., Leggett and Platt Inc., and Texas Instruments Inc.

Key Developments

  1. Key players in the market are focused on product launches, in order to expand their product portfolio. For instance, in January 2017, IDT launched 15W turnkey wireless power reference kit. This kit is certified with WPC Qi 1.2.2 and the wireless power transmitter and receiver operate at 87% efficiency.
  2. Key companies in the market are involved in joint venture, in order to enhance their market presence. For instance, in January 2017, WiTricity joined project STILLE, which has been formed through collaboration between renowned automakers such as Audi, BMW, Daimler, Toyota Motorsport, and Toyota Motor Europe. This project aims to create standards for electric vehicles wireless charging through energy transfer systems.

Wireless charging or inductive charging is a type of cordless power transfer wherein it uses electromagnetic induction to provide electricity to portable devices. Wireless charging is typically used to supply power to smartphones, tablets, and smart watches. It is based on the principle of inductive power transfer (IPT) wherein an electromagnetic field between two objects is used for transferring energy. Wireless charging is comprised of two components namely receiver and transmitter. Moreover, it uses other technologies such as resonance charging and radiofrequency technology.

Market Dynamics

Increasing sales of electric vehicles worldwide is the major driver driving the global wireless charging market                 owing to increase in sales of electric vehicle, owing to low maintenance and cost-effective features. According to the Edison Electric Institute (EEI), in 2018, the electric vehicle sales increased by 81% as compared to 2017. Electric vehicles are powered by rechargeable batteries that are charged using electricity. Over the years, automakers have started using wireless charging since it is convenient and easy to use. The driver needs to part their car over the charging pad. This also provides sophisticated experience as there is no need to plug-in charging cables. Moreover, increasing consumer awareness regarding wireless charging owing to Technological advancements in mobile devices such as embedded wireless charging technology have shifted preference of consumers towards wireless charging. Increasing number of mobile device vendors are incorporating wireless charging feature in high-end models of laptops, smartphones, wearable, and notebooks, which in turn, is expected to support the global wireless charging market growth the over the forecast period. For instance, Google Nexus 6 smartphone is enabled with Qi wireless charging technology.

Market Taxonomy

This report segments the global wireless charging market it is segmented into, transmitters and receivers. On the basis of technology the market is segmented into, inductive technology, resonance charging, radio frequency technology and others. On the basis of application, the global wireless charging market is segmented into, consumer electronics, automotive, healthcare and industrial. On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the global wireless charging market and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global wireless charging market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key players operating in the global wireless charging market are Energizer Holding, Inc., PowerbyProxi, Qualcomm Technologies, Inc., ConvenientPower HK Limited, Powermat Technologies, WiTricity Corporation, Integrated Device Technology Inc., Leggett and Platt Inc., and Texas Instruments Inc.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global wireless charging market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global Wireless charging market.

Detailed Segmentation:

  • Global Wireless charging Market, By Component:
    • Transmitters
    • Receivers
  • Global Wireless charging Market, By Technology:
    • Inductive Technology
    • Resonance Charging
    • Radio Frequency Technology
    • Others
  • Global Wireless charging Market, By Application:
    • Consumer Electronics
    • Automotive
    • Healthcare
    • Industrial
    • Others
  • Global Wireless charging Market, By Region:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa
  • Company Profiles
    • Energizer Holding, Inc
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • PowerbyProxi
    • Qualcomm Technologies, Inc
    • ConvenientPower HK Limited
    • Powermat Technologies
    • WiTricity Corporation
    • Integrated Device Technology Inc
    • Leggett and Platt Inc
    • Texas Instruments Inc

*Browse all the market data tables and figures on "Global Wireless charging Market - Forecast to 2027”

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Component
      • Market Snippet, By Technology
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New system Launch/Approvals
      • Value Chain Analysis
      • Porter’s Analysis
      • PEST Analysis
  4. Global Wireless Charging Market, By Component, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Transmitters
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Receivers
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. Global Wireless Charging Market, By Technology, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Inductive Technology
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Resonance Charging
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Radio Frequency Technology
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. Global Wireless Charging Market, By Application, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Consumer Electronics
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Automotive
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Healthcare
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Industrial
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  7. Global Wireless Charging Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Component, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Component, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Component, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Component, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Component, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Israel
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  8. Competitive Landscape
    • Company Profiles
      • Energizer Holding, Inc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • PowerbyProxi
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Qualcomm Technologies, Inc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • ConvenientPower HK Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Powermat Technologies
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • WiTricity Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Integrated Device Technology Inc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Leggett and Platt Inc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Texas Instruments Inc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on "Wireless Charging Market - Global forecast to 2027”.

Frequently Asked Questions

The global wireless charging market is estimated to account for US$ 7,139 Mn in 2019 .
Major players operating in the global wireless charging market include Energizer Holding, Inc., PowerbyProxi, Qualcomm Technologies, Inc., ConvenientPower HK Limited, Powermat Technologies, WiTricity Corporation, Integrated Device Technology Inc., Leggett and Platt Inc., and Texas Instruments Inc.
Unavailability of cohesive wireless charging standards is one of the major factors that is expected to hamper growth of the market over the forecast period.
Increasing sales of electric vehicles, globally is one of the major factors that is expected to propel growth of the market over the forecast period.
The global wireless charging market is estimated to exhibit a CAGR of 33.5% during the forecast period (2019-2027) .
Among regions, Asia Pacific is expected to hold a dominant position in the global wireless charging market in 2019 , accounting for 32.5% share , in terms of value, followed by North America and Europe.
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