IMARC Group’s latest research report, titled “Wireless Charging Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the market. The wireless charging market research report also includes competitor and regional analysis, and contemporary advancements in the market. The global wireless charging market size reached US$ 15.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 33.6 Billion by 2028, exhibiting a growth rate (CAGR) of 13.77% during 2023-2028.
Wireless Charging Market Overview:
Wireless charging, also known as inductive or cordless charging, is the procedure of transferring power wirelessly without using physical connectors and cables. It uses electromagnetic induction to deliver electricity to numerous portable devices. It is a convenient, safe, reliable, cost-effective, efficient, and safer technology as compared to conventional charging systems. In recent years, wireless charging has gained momentum, as it maintains constant transfer of power to ensure all types of devices, including smartphones, handheld industrial devices, and heavy-duty equipment, are charged.
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Global Wireless Charging Market Trends:
One of the primary factors driving the market is the rising demand for an efficient charging system. Additionally, the growing internet penetration has led to a growing demand for charging systems. Fast-wireless RF energy base charges cater to these needs of the consumers, thereby creating a positive market outlook. Other than this, the increasing adoption of portable electronics and wearable devices, such as digital cameras and camcorders, laptops and tablets, household electronics, and wearable electronics, is positively influencing the market growth.
Besides this, the rising popularity of the Internet of Things (IoT) and the significant rise in the product requirement for equipment targeted by IoT are escalating the demand for wireless charging as it is a convenient method to power an IoT network. In line with this, there is a boost in the sales of electric vehicles (EVs), and a regular demand for harvesting ambient RF energy, representing another major growth-inducing factor. Furthermore, wireless charging solutions are also widely employed in the healthcare sector, which are contributing to the market growth. Moreover, extensive investments in the research and development (RD) activities, along with the integration of wireless chargers in automobiles, are creating lucrative growth opportunities for the key players operating in the industry.
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Key Market Segmentation:
Top Wireless Charging Brands Worldwide:
- Convenient Power HK Limited
- Energizer Holdings, Inc
- Integrated Device Technology
- Leggett Platt Incorporated
- Murata Manufacturing Co. Ltd
- Powermat Technologies Ltd.
- Qualcomm Incorporated
- Texas Instruments Incorporated
- Witricity Corporation
- Samsung
Market Breakup by Technology:
- Resonant Charging
- Radio Frequency Based charging
- Others
Market Breakup by Application:
- Consumer Electronics
- Industrial
- Healthcare
- Automotive
- Defence
Market Breakup by Transmission Range:
- Short Range
- Medium Range
- Long-Range Wireless Chargers
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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