Report Id: SNS/SEMI/1361 | May 2022 | Region: Global | 125 Pages
Report Scope & Overview:
Wireless Charging Market was valued at USD 4.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 24.1% from 2021 to 2028 and it will reach USD 21.75 million in 2028.
Wireless charging is a reliable, convenient, and safe way to power and charge electrical devices. Furthermore, by removing the usage of physical connectors and cables, it outperforms standard charging systems in terms of efficiency, affordability, and safety. It also ensures that all devices (handheld industrial gadgets, smartphones, heavy-duty equipment, and others) are charged and ready to use.
Drivers The Humavox Company pioneered a new wireless charging trend known as drop & charge, in which the charge station is designated as a key or box, and the receiver must be pressed against the transmitter using induction charging. Such characteristics benefit customers by improving product design, usability, and reliability. Because of their heavy use of the internet, many smartphones and devices have charging challenges, which can be solved by using a fast-wireless RF energy base charger. As demand for efficient charging solutions grows, the market for wireless charging is expected to grow rapidly.
Opportunities Inductive charging is a widespread method for charging consumer electronics and electric vehicles wirelessly. Magnetic resonance improves efficiency by allowing power to be sent across greater distances between the receiver and transmitter. The efficiency of wireless charging is determined by the power available to charge the device with the wireless transmitter's power. It is important for wireless power as it controls how hot the battery is and how much power is wasted. A smaller and less expensive charger should be to produce the same amount of electricity, increasing efficiency.
Restraints For devices that implement the Qi wireless charging standard, wireless charging is convenient. Devices that are not supported to the Qi wireless charging standard are mismatched with the charging pad. As a result, accessory manufacturers are already marketing wireless charging alternatives for these devices.For various devices, different types of wireless chargers, such as charging pads, charging bowls, and charging boxes, are required, posing a compatibility challenge. As a result, in order to accommodate a variety of items, a user is compelled to purchase a significant number of wireless chargers.
Challenges Wireless charging is more expensive than wired charging, but wired charging is faster. The majority of manufacturers offer a wired charger with their devices. Wireless charging, while convenient and portable, necessitates the use of Qi-compatible devices, making it unsuitable for many products. As wireless charging pads become larger and adapters become smaller and more sturdy, customers are showing a stronger preference for traditional charging solutions. As a result, the rapid adoption of wireless charging technologies is expected to be limited.
Due to changing consumer lifestyle preferences, urbanization, and growth in internet users, smartphones, laptops, tablets, MP3 players, wearables, gaming consoles, and personal digital assistants (PDAs) are in high demand, particularly in Asia Pacific. As a result, consumer electronics companies are increasingly using wireless charging solutions. For example, OnePlus announced in April 2020 that the OnePlus 8 series would have Warp Charge 30 wireless charging. The company developed the Warp wireless direct charging architecture, which allows for real-time communication between the smartphone and a specialised chip and wireless charger. These characteristics are attributed to consumer electronics having the largest market share in the wireless charging business over the forecast period.
Despite being a relatively new technology, inductive has had a significant impact on the market, accounting for almost half of its total revenue in 2014. Inductive technologies are used at advanced levels such as WPC (Qi technology) and PMA. In addition, inductive technology is used to power electric vehicles (EVs). The most profitable technology in this field is expected to be resonant and radio frequency (RF). Resonant technology allows objects to be powered at shorter distances without the need for direct contact, making them much easier. Many gadgets can be charged at the same time with this technology. RF-based technology is predicted to gain popularity in small equipment such as wearables and medical stamps because it eliminates the requirement for perfect alignment. This technology is used by companies like Humavox.
IMPACT OF COVID-19
The COVID-19 impact prediction for the wireless charging market in this study is based on the quarterly and annual reports of the companies under review. In-depth interviews have confirmed the market's downtrend in 2020. Governments have enacted strict legislation to ensure that all manufacturing enterprises operate in a safe environment, therefore the market is expected to rise after the COVID-19 crisis is settled. At the moment, wireless charging is widely employed in the consumer electronics and automotive industries.
Competitive landscape of the leading wireless charging market, includes Samsung Electronics Co., Qualcomm Incorporated, Integrated Device, Technology, Fulton Innovation LLC, WiTricity Corporation, Murata Manufacturing Co. Ltd., Sony Corporation, Texas Instruments, Energizer Holdings, Inc, Renesas Electronics Corporation, Powermat Technologies Ltd and other.
Aerospace & Defense
Global wireless charging market trends are examined in North America (the United States, Canada, and Mexico), Europe (the UK , Itley, Germany, France, and the rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Taiwan, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa) (Latin America, Middle East, and Africa). North America accounted for the highest part due to the expansion of the electronics sector and growing EV sales. Europe was the second greatest contributor in terms of revenue and is expected to expand significantly throughout the projection period due to a surge in demand for fuel-efficient and long-lasting charging solutions for electronic equipment such as power tools and portable gadgets.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2021||US$ 21.75 Billion|
|Market Size by 2028||US$ 343.67 Billion|
|CAGR||CAGR of 24.1% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Technology (Inductive, Resonant, Radiofrequency, Magnetic Resonance, Others)
• By Implementation (Transmitters, Recievers)
• By Application (Consumer, Electronics, Medical, Healthcare, Automotive, Industrial , Electronics, Industrial, Aerospace & Defense, Automotive)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Samsung Electronics Co., Qualcomm Incorporated, Integrated Device, Technology, Fulton Innovation LLC, WiTricity Corporation, Murata Manufacturing Co. Ltd., Sony Corporation, Texas Instruments, Energizer Holdings, Inc, Renesas Electronics Corporation, Powermat Technologies Ltd and other.|
Frequently Asked Questions (FAQ) :
The wireless Charging Market size was valued at 4.8 million in 2021 at a CAGR of 24.1%.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Yes, and they are Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGO, Commercial research & development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, Trade/Industrial associations, End-use industries.
In the wireless charging sector, North America commands the largest market share.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. The SNS Graph
9. Global Wireless Charging Market Segmentation, by technology
9.5 Magnetic Resonance
10. Global Wireless Charging Market Segmentation, by implementation
11. Global Wireless Charging Market Segmentation, By application
11.2 consumer electronics
11.9 Aerospace & Defense
13. Regional Analysis
13.2 North America
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4.2 South Korea
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.3 South Africa
13.6 Latin America
13.6.3 Rest of Latin America
14. Company Profiles
14.1 Samsung Electronics Co.
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 Qualcomm Incorporated Inc.
14.3 Integrated Device Technology Inc.
14.4 Fulton Innovation LLC
14.5 WiTricity Corporation
14.6 Murata Manufacturing Co. Ltd.
14.7 Sony Corporation
14.8 Texas Instruments
14.9 Energizer Holdings, Inc
14.11 Renesas Electronics Corporation
14.12 Powermat Technologies Ltd
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share analysis
15.3 Recent Developments
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