The continuous expansion of the e-commerce industry and the presence of key market players are driving up demand for the South Korea induction charger market during the forecast period.

South Korea Induction Charger Market was valued at USD 23.69 million in 2023, and is predicted to reach USD 59.1 million by 2030, with a CAGR of 13.3% from 2024 to 2030, according to new research by Next Move Strategy Consulting.

The continuous expansion of the e-commerce industry over the years serves as a promising indicator for the rising demand for induction chargers. As consumers increasingly turn to online platforms for their shopping needs, the convenience and accessibility offered by e-commerce channels contribute to heightened awareness and accessibility of induction chargers.

The ability to explore and purchase these charging solutions with ease through online platforms not only broadens the market reach but also reflects a growing consumer interest in adopting modern, wireless charging technologies. This positive trend in e-commerce aligns with the evolving preferences of tech-savvy consumers, further driving the demand for induction chargers in the market.

According to the Economist Intelligence Unit (EIU), South Korea's online retail market has grown 22.5% annually from 2012-2021 and is expected to reach a 16.8% share of total retail sales by 2026, up from 15% in 2021.

However, the extensive popularity 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, its superior charging speed compared to most wireless chargers makes it more attractive, especially for users who want fast charging.

On the other hand, the launch of Qi v2.0, the latest wireless charging standard, is poised to impact the induction charger industry significantly. It offers enhanced features such as magnetic attachment, fast charging speed, higher efficiency, and greater convenience.

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 is expected to simplify the market and enhance universal compatibility.

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According to the report, leading players in the South Korea induction charger market include 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.

Key Insights from the South Korea Induction Charger Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the South Korea induction charger market is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The market share of players in the South Korea induction charger market is provided in the report along with their competitive analysis.