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
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.
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 a charging pad and a compatible device.
The participation of the global technology leaders Samsung Electronics and LG Corporation in South Korea highlights the country's strong technological capabilities and innovation in the electronics industry. As significant influencers in the global tech sector, Samsung and LG are poised to impact the induction charger market through their contributions to advancing and adopting state-of-the-art charging technologies. For instance, Samsung offers Wireless Charger Duo and Wireless Charger Pad that help to charge smartphones and smartwatches, thus fueling the induction charger market.
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.
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.
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.
The South Korea 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.
5W to 15W
16W to 30W
Above 30W
Qi Standard
AirFuel
E-Commerce or Online
Offline
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 23.69 Million |
Revenue Forecast in 2030 |
USD 59.1 Million |
Growth Rate |
CAGR of 13.3% from 2024 to 2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2023 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Million (USD) |
Growth Factors |
|
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. |
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.