The expansion of the consumer electronics industry and the integration of wireless charging in automotive sector are driving the growth of the wireless charging industry.

According to a new research report by Next Move Strategy Consulting, the global wireless charging market size was valued at USD 21.44 billion in 2023, and is expected to reach USD 71.47 billion by 2030, with a CAGR of 15.8% during the forecast period, 2024–2030. The rise in the adoption of wireless technology in consumer electronics is driving the growth of the wireless charging market. The increased use of wireless technology in consumer electronics, including smartphones, laptops, and wearable devices, is contributing to a growing demand for wireless charging solutions. Consumers are seeking easy and convenient methods to charge their devices without the constraints of cords and cables. This trend has spurred the development and widespread adoption of wireless charging technology.

As the utilization of wireless technology continues to expand in consumer electronics, the demand for wireless charging is expected to rise accordingly. This factor is a key driver for the ongoing growth of the wireless charging market. Moreover, the integration of wireless charging in the automotive industry is a pivotal factor propelling the growth of the wireless charging market. With the increasing adoption of electric vehicles (EVs), wireless charging technology is providing a transformative solution for EV owners. By enabling a cable-free charging experience, it simplifies the process for users who can conveniently park their vehicles over wireless charging pads, streamlining the charging routine and contributing to the widespread acceptance of electric vehicles. This seamless integration aligns with the changing landscape of transportation and positions wireless charging as a crucial component in the evolution of the automotive industry.

The integration of wireless charging in automobiles enhances the overall user experience by eliminating the need for manual cable connections. The reduction of clutter and hassle associated with traditional charging methods is a significant appeal for consumers. As the automotive industry leans towards autonomy, wireless charging infrastructure integrated into parking spaces further supports the vision of automated transportation. This technological convergence aligns with consumer preferences for smart and convenient solutions, adding a futuristic and competitive edge to vehicles equipped with wireless charging capabilities.

Furthermore, the integration of wireless charging in the automotive sector drives not only consumer demand but also contributes to the expansion of charging infrastructure. Public spaces, parking lots, and dedicated charging stations are increasingly adopting wireless charging pads, creating a reliable and widespread charging network. This expansion addresses concerns related to the availability and accessibility of charging stations, thereby driving the growth of the global wireless charging market.

However, the lack of a unified standard, that results in fragmentation among competing technologies, is hindering the growth of the wireless charging market. Various standards, such as Qi, PMA, and proprietary solutions, coexist, creating confusion for consumers and hindering widespread adoption. The lack of a universal standard may lead to interoperability issues, where certain devices are only compatible with specific chargers, limiting the seamless experience that wireless charging provide. This fragmentation also poses a challenge for manufacturers and developers striving to create products that cater to a broad user base, potentially slowing down the overall growth of the wireless charging market.

On the other hand, the emergence of air charging technology represents lucrative opportunities within the wireless charging market. Air charging, also known as over-the-air charging, eliminates the need for physical contact between the charging pad and the device, offering a truly wireless and convenient charging experience. This groundbreaking innovation utilizes radio frequency (RF) or other wireless technologies to transmit power across short distances, enabling devices to charge while in use or simply within the charging range.

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According to the report, leading players operating in the wireless charging market include Renesas Electronics Corporation, Murata Manufacturing Company Ltd, Qualcomm Incorporated, Samsung Electronics, Sony Corporation, Xiaomi Corporation, Energizer Holdings Inc, Texas Instruments Inc, Witricity Corporation, and Robert Bosch GMBH.

Key Insights from the Wireless Charging market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the wireless charging market is provided in the report.

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

• The market share of the players in the global wireless charging market along with their competitive analysis are provided in the report.