Wireless Charging Market Size and Forecast 2024-2033| Energizer Holdings, Inc., Samsung Electronics Co. Ltd., Leggett & Platt Incorporated, Renesas Electronics Corporation, Anker Innovations Co., Ltd

Wireless charging: a mobile phone being placed on a modern wireless power bank.

The Wireless Charging by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Wireless Charging, The wireless charging market size has grown exponentially in recent years. It will grow from $16.43 billion in 2023 to $21.49 billion in 2024 at a compound annual growth rate (CAGR) of 30.8%. The growth in the historic period can be attributed to rise in disposable income, a rise in the number of various surgical procedures, rising demand for consumer electronics and increasing government initiatives.

The wireless charging market size is expected to see exponential growth in the next few years. It will grow to $61.3 billion in 2028 at a compound annual growth rate (CAGR) of 30.0%. The growth in the forecast period can be attributed to the rising demand for electronic devices, increasing popularity and high sales of electric vehicles (ev), growth of a wide range of autonomous and commercial automobiles and rising urbanization. Major trends in the forecast period include advances in wireless charging, use of mi air charge wireless charging technology, strategic collaborations and partnerships, adoption of smart wireless charging board and automotive in-cabin wireless charging solution.

The increasing sale of smartphones is expected to propel the growth of the wireless charging market. Smartphone devices feature a built-in computer that provides various features such as an operating system, web browsing, and the capacity to run software programs. Wireless chargers offer convenience and increased durability to smart device users, making them a popular choice amongst customers. According to Counterpoint Research, a Hong Kong-based research firm specializing in mobile & technology products, smartphone sales have totaled $448 billion in revenues for 2021, an increase of 7% compared to the values for 2020. Also, according to Gartner Inc., a US-based consulting firm, in March 2022, worldwide smartphone sales grew 6% in 2021, from 1,351,836.5 (Thousands of Units) in 2020 to 1,433,859.4 in 2021. Therefore, the increase in sales of smartphones will drive the wireless charging market.

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The wireless charging market covered in this report is segmented –

1) By Components: Transmitters, Receivers

2) By Technology: Inductive Charging, Resonant Charging, Radio Frequency Based Charging, Other Technologies

3) By Transmission Range: Short Range, Medium Range, Long Range

4) By Application: Consumer Electronics, Automotive, Healthcare, Industrial, Defense, Other Applications

Technological innovation is a key trend gaining popularity in the wireless charging market. Major companies operating in the wireless charging market are focused on providing technologically advanced solutions to strengthen their market position. These companies are implementing next-generation wireless charging technologies into their products, such as electromagnetic induction, automation, radio frequency waves, near field waves, capacitive wireless technology, and others, to enhance charging speed and usability. For instance, in April 2021, Xiaomi (Mi), a China-based consumer electronics company, introduced a new charging system – Mi Air Charge Technology. It enables users to charge electronic devices remotely without the necessity of wires or wireless charging stands. Its phase control array composed of 144 antennas transmits millimeter-wide waves directly to the phone through beamforming.

The wireless charging market report table of contents includes:

1. Executive Summary

2. Wireless Charging Market Characteristics

3. Wireless Charging Market Trends And Strategies

4. Wireless Charging Market – Macro Economic Scenario

5. Global Wireless Charging Market Size and Growth

26. South America Wireless Charging Market

27. Brazil Wireless Charging Market

28. Middle East Wireless Charging Market

29. Africa Wireless Charging Market

30. Wireless Charging Market Competitive Landscape And Company Profiles

Top Major Players: