Singapore Induction Charger Market

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Singapore Induction Charger Market by Power Output (5W to 15W, 16W to 30W, Above 30W), by Charging Standard (Qi Standard, AirFuel), and by Distribution Channel (E-Commerce or Online and Offline) – Opportunity Analysis and Industry Forecast 2024–2030

Industry: Retail and Consumer | Publish Date: 22-Feb-2024 | No of Pages: 100 | No. of Tables: 70 | No. of Figures: 35 | Format: PDF | Report Code : N/A

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Market Definition

Singapore Induction Charger Market was valued at USD 14.14 million in 2023, and is predicted to reach USD 45.1 million by 2030, with a CAGR of 17.3% from 2024 to 2030.

The induction charger industry, part of the wider consumer electronics sector, is undergoing swift evolution and gaining recognition on the global technology front. This field is dedicated to advancing and spreading wireless charging technology, a method that enables the transmission of electrical power without relying on physical connectors or cables.

Fundamentally, the technology behind induction chargers is grounded in electromagnetic induction, employing an electromagnetic field to facilitate the transfer of energy between two objects – typically a charging pad and a compatible device.

Growing Adoption of Smartphones and Electronic Devices fuels Induction Chargers Market Growth 

Singapore is a mature market with a high penetration of smartphone users who aim to adopt the latest technologies, including induction chargers. With approximately 99% of Singaporeans having internet access, local smartphone ownership has surged to a new peak of 97%. The electronics sector is a pivotal contributor to Singapore's economy, accounting for 8% of its GDP, which indicates its potential influence on the induction charger market.

In 2020, the sector received a substantial portion of fixed asset investments, approximately 38% or USD 17.2 billion, demonstrating Singapore's strong emphasis on technology and innovation. This level of investment underscores the country's commitment to advancing its electronics industry.

 

Government-Led Smart City Initiatives Propel Integration of Wireless Charging Infrastructure in Public Spaces

The induction charger market in Singapore is experiencing substantial growth, propelled by proactive government initiatives focused on fostering smart cities and advancing technologies. These strategic efforts play a pivotal role in shaping the landscape of the induction charger market, as they actively promote and support the integration of wireless charging infrastructure in public spaces.

By prioritizing innovation and sustainability, the government's commitment not only aligns with global technological trends but also creates a conducive environment for the widespread adoption of induction charging solutions, further driving the market's expansion in the region.

The Standardization of Wired Chargers Hinders the Growth of the Induction Charger Market

The extensive embrace of USB Type-C connectors in wired chargers poses a considerable obstacle to the induction charger market. This standardization ensures compatibility with a wide range of devices, establishing USB Type-C as a convenient and adaptable charging solution. Its rapid charging capabilities, often surpassing those of many wireless chargers, enhance its allure, especially for users prioritizing swift charging experiences.

 

Introduction of Qi v2.0 Standard for Wireless Charging Creates Ample Opportunity

The launch of Qi v2.0, the latest wireless charging standard, is poised to impact the induction charger industry significantly. Offering enhanced features such as magnetic attachment, improved charging speed, higher efficiency, and greater convenience, Qi v2.0 is set to elevate user experiences.

With the first Qi v2.0 certified devices, including Apple's iPhone 15 series and various power transmitters, expected to hit the market during Christmas, significant manufacturers, including Belkin, Mophie, Anker, and Aircharge, are gearing up with compatible products. Over 100 devices are already undergoing testing or certification for Qi v2.0.

This new standard is expected to unify the wireless charging industry, promoting smoother, faster charging and broader interoperability. As Qi v2.0 becomes the global benchmark for wireless charging, its adoption will likely simplify the market and enhance universal compatibility, driving growth in the induction charger sector as more consumers move towards Qi v2.0 compatible charging solutions.

 

Competitive Landscape

The Singapore induction charger industry includes several market players such as Samsung Electronics Co. Ltd., Apple Inc, Anker Innovations Technology Co. Ltd., Belkin International, Inc., Xiaomi Corporation, Huawei Technologies, ASUSTeK Computer Inc., ZAGG INC., Energizer Holdings, Inc., and Aukey Corporation Limited.

Singapore Induction Charger Market Key Segments

By Power Output        

  • 5W to 15W

  • 16W to 30W

  • Above 30W            

By Charging Standard        

  • Qi Standard

  • AirFuel

By Distribution Channel

  • E-Commerce or Online

  • Offline

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Market Size in 2023

USD 14.14 Million

Revenue Forecast in 2030

USD 45.1 Million

Growth Rate

CAGR of 17.3% from 2024 to 2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Million (USD)

Growth Factors

  • Growing adoption of smartphones and electronic devices.

  • Increasing government initiatives.

Companies Profiled

10

Market Share

Available for 10 companies

Customization Scope

Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs.

KEY PLAYERS

  • Samsung Electronics Co. Ltd.

  • Apple Inc

  • Anker Innovations Technology Co. Ltd. 

  • Belkin International, Inc.

  • Xiaomi Corporation

  • Huawei Technologies

  • ASUSTeK Computer Inc.

  • ZAGG INC.

  • Energizer Holdings, Inc.

  • Aukey Corporation Limited.

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Frequently Asked Questions

According to the report published by the Next Move Consulting, the Singapore induction charger market business is expected to hit at USD 45.1 million by 2030.

The Singapore induction charger industry includes several market players such as Samsung Electronics Co. Ltd., Apple Inc, Anker Innovations Technology Co. Ltd., Belkin International, Inc., Xiaomi Corporation, Huawei Technologies, ASUSTeK Computer Inc., ZAGG INC., Energizer Holdings, Inc., and Aukey Corporation Limited.

The Singapore induction charger market share is segmented on the basis of power output, charging standard, and distribution channel.

The induction charger market is booming in Singapore due to high penetration of smartphone users and proactive government initiatives.

The extensive embrace of USB Type-C connectors in wired chargers poses a considerable obstacle to the induction charger market.

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