Wireless Charging Market Size - By Technology (Inductive, RF, Resonant), By Application (Automotive, Consumer, Industrial, Healthcare, Aerospace & Defense) & Forecast, 2024 - 2032

Wireless Charging Market Size

Wireless Charging Market size was valued at USD 14.62 billion in 2023 and is anticipated to register a CAGR of over 33.2% between 2024 and 2032. The rapid growth of electric vehicles (EVs) is a major driver for market expansion. As EV adoption increases, the demand for convenient and efficient charging solutions grows. Wireless charging technology, now being integrated into several EV models, simplifies the charging process and eliminates the need for physical connectors.
 

Recent advancements, including wireless charging pads and dynamic charging systems, offer the potential for more seamless and accessible charging experiences. For instance, according to IEA, in 2023, global electric vehicle (EV) sales reached nearly 14 million units, marking a 35% increase from the previous year. This surge brought the total number of electric cars on the road to approximately 40 million. Notably, electric cars represented about 18% of all new car sales globally, up from 14% in 2022.
 

Recent advancements in wireless charging technology focus on enhancing speed, efficiency, and convenience. These advancements also include resonant and radio-frequency charging, which enable longer-range power delivery and more flexible device placement. Enhanced technologies are reducing charging times and expanding applications beyond smartphones to include laptops and wearable devices. Such progress addresses previous limitations, driving broader adoption in consumer electronics and automotive sectors. These developments aim to meet rising consumer expectations for faster, more efficient charging solutions.
 

For example, in May 2024, STMicroelectronics has introduced a 50W, Qi-compatible transmitter and receiver combination to accelerate the development of wireless charging for high-power applications such as medical and industrial equipment, home appliances, and computer peripherals. This combination uses ST's proprietary STSC (ST Super Charge) protocol, which provides faster charging rates compared to standard Qi protocols used with smartphones.
 

The higher cost of wireless charging systems remains a significant restraint for broader market adoption. Integrating wireless charging technology into devices involves expensive components and advanced engineering, driving up production costs. This cost is often passed on to consumers, making devices more expensive. Additionally, the infrastructure needed for higher-power applications, such as those in electric vehicles, involves substantial investment. Recent reports indicate that despite decreasing prices due to technological advancements, the initial cost remains a barrier, especially in price-sensitive markets. This high cost can slow down adoption rates and limit market growth.
 

Wireless Charging Market Trends

Integration of wireless charging with smart home devices are a growing trend enhancing convenience and functionality. Recent innovations have seen companies like Google and Amazon incorporating wireless charging capabilities into their smart speakers, hubs, and other connected devices. This integration eliminates the need for external power cords, reducing clutter and simplifying setup.
 

For example, In January 2023, Samsung introduced a new device called the SmartThings Station, which combines a wireless charger with a smart home hub. This innovative product is designed to simplify smart home management while providing fast charging capabilities. This trend reflects a broader push towards wireless solutions in home automation, promoting a cleaner, more streamlined user experience and driving the adoption of wireless charging technology across various smart home products.
 

Collaboration between technology companies and automotive manufacturers are driving significant advancements in wireless charging for electric vehicles (EVs). These partnerships combine expertise in electronics and automotive design to create seamless, efficient charging solutions. Such collaborations often result in integrated systems that enhance user experience, such as automatic alignment and faster charging times.
 

By leveraging each other's strengths, these alliances accelerate the development and adoption of innovative technologies, promoting the widespread use of wireless charging in the automotive industry and improving the convenience of EV ownership. For example, in April 2023, Tata Passenger Electric Mobility Ltd. (TPEM) has partnered with Shell India Markets Private Limited (SIMPL) to enhance the electric vehicle (EV) charging infrastructure across India.
 

Wireless Charging Market Analysis

Based on technology, the market is segmented into inductive, RF, resonant, and others. The inductive segment accounted for the largest market share with over 38% of the revenue share in 2023.
 

• The inductive segment dominates the wireless charging market due to its widespread adoption and proven technology. Inductive charging, which uses electromagnetic fields to transfer energy between coils, is well-established in consumer electronics, including smartphones and wearables. Its reliability, efficiency, and ease of integration into various devices have made it the dominant technology. The broad adoption of inductive charging in popular devices like Apple’s MagSafe and Samsung’s wireless chargers has reinforced its position in the market, making it the most familiar and trusted technology for both consumers and manufacturers.
   
• Furthermore, the inductive charging segment benefits from a mature infrastructure and extensive standardization efforts, such as the Qi standard, which ensures compatibility across a wide range of devices. This standardization has facilitated widespread acceptance and adoption, further solidifying inductive charging's market leadership.
   

Based on application, the wireless charging market is divided into automotive, consumer, industrial, healthcare, and aerospace & defense. In 2023, the automotive segment was the fastest growing segment, growing at a CAGR of over 35%. The market value of the business segment is expected to reach over USD 64 billion by 2032.
 

• The automotive segment of the market was the fastest-growing due to the rapid expansion of electric vehicles (EVs) and the industry's push for innovative, convenient charging solutions. With the increasing adoption of EVs globally, automotive manufacturers are investing heavily in wireless charging technologies to enhance the user experience by eliminating the need for physical connectors. This trend is driven by consumer demand for more convenient and efficient charging methods, which wireless systems can provide, particularly as advancements in technology enable faster and more reliable charging solutions.
   
• Moreover, collaborations between automotive manufacturers and technology companies have accelerated the development and deployment of advanced wireless charging systems. For instance, partnerships like those between BMW and Qualcomm are pushing the boundaries of what’s possible with wireless charging, introducing systems that offer automatic alignment and faster power delivery.
   

North America held the largest wireless charging market share of over 34% in 2023, due to its advanced technological infrastructure and high adoption rates of consumer electronics. The region’s robust market for smartphones, tablets, and wearable devices has significantly driven the demand for wireless charging solutions. Leading technology companies based in North America, such as Apple and Qualcomm, have heavily invested in and promoted wireless charging technologies, further boosting adoption. Additionally, the presence of major automotive manufacturers like Tesla, which are integrating wireless charging into their electric vehicles, underscores the region’s leadership in both consumer electronics and automotive applications.
 

The U.S. wireless charging market is experiencing significant growth, driven by high consumer adoption and technological advancements. For example, in September 2023, Apple enhanced its MagSafe technology with the launch of the latest iPhone models. This move is expected to further drive market expansion as other tech giants follow suit. Additionally, the increasing integration of wireless charging in electric vehicles, exemplified by Tesla’s recent updates to its charging infrastructure, reflects the country’s leadership in adopting and promoting cutting-edge charging solutions.
 

China is rapidly advancing in the wireless charging market, fueled by its large consumer electronics market and strong government support for technological innovation. Recent developments include Huawei's introduction of a new line of smartphones with improved wireless charging features, aiming to capture a larger market share. Additionally, China's focus on smart home technology is evident in the proliferation of wireless charging-enabled devices, such as smart speakers and home appliances, driven by significant investments from companies like Xiaomi and Alibaba. The government’s push for technological upgrades and green energy further supports the growth of wireless charging infrastructure across the country.
 

Germany is a key wireless charging market, particularly in the automotive sector, thanks to its strong automotive industry. Home to leading car manufacturers like BMW, Volkswagen, and Daimler, Germany is pioneering the integration of wireless charging systems in electric vehicles. The country’s focus on sustainable energy solutions and cutting-edge automotive technology supports the development of advanced charging infrastructure. In consumer electronics, German consumers’ preference for high-quality, innovative products drives demand for wireless charging solutions. The combination of technological expertise and environmental consciousness positions Germany as a leader in both automotive and consumer electronics wireless charging applications.
 

Japan’s wireless charging market is marked by technological innovation and early adoption in consumer electronics. Renowned companies like Sony, Panasonic, and Toyota are heavily involved in developing and implementing wireless charging technology. Japan’s advanced research and development capabilities enable the creation of efficient and reliable charging solutions. The country’s strong market for smartphones, wearables, and electric vehicles drives demand for wireless charging systems. Additionally, Japan’s commitment to smart city initiatives and technological advancements further boosts the adoption of wireless charging in various applications, making it a significant market player.
 

South Korea is a prominent wireless charging market, driven by its leading electronics and automotive industries. Major tech companies like Samsung and LG are at the forefront of wireless charging innovation, integrating the technology into a wide range of consumer electronics, including smartphones, tablets, and wearables. The country’s strong emphasis on technological advancement and high consumer demand for cutting-edge products fuel market growth. In the automotive sector, South Korea’s commitment to electric vehicle development and the integration of wireless charging solutions by companies like Hyundai and Kia highlight its strategic role in advancing the market.
 

Wireless Charging Market Share

Samsung Electronics, Co., Ltd. and Energizer Holdings Inc holds a significant share of over 25% in the market. Samsung Electronics, Co., Ltd. is a major player, continuously advancing its wireless charging technology through its range of smartphones and other consumer electronics. Qualcomm Incorporated is another key competitor, known for its cutting-edge technologies and contributions to fast wireless charging standards. MediaTek, Inc. provides essential chipset solutions that support various wireless charging applications, further enhancing device performance. Texas Instruments, Inc. also plays a crucial role with its expertise in power management solutions, contributing to more efficient and reliable wireless charging systems.
 

In addition to these tech giants, companies like Energizer Holdings Inc., Infineon Technologies, and Murata Manufacturing Co. Ltd. significantly influence the wireless charging market. Energizer Holdings Inc., traditionally known for its battery products, has expanded into wireless charging solutions, offering innovative products for consumer and industrial applications. Infineon Technologies provides critical semiconductor components that improve the efficiency and functionality of wireless charging systems.
 

Wireless Charging Market Companies

Major players operating in the wireless charging industry are:

• Samsung Electronics, Co., Ltd.
• Energizer Holdings Inc
• Infineon Technologies
• MediaTek, Inc.
• Qualcomm Incorporated
• Texas Instruments, Inc.
• Murata Manufacturing Co. Ltd.
   

Wireless Charging Industry News

• In July 2024, Florida is launching a pioneering project that allows electric vehicles (EVs) to charge while driving on State Road 516. This system, developed by ENRX, uses electromagnetic waves to detect vehicles and charge them automatically, achieving efficiency rates over 90%. The project, costing approximately USD 550 million, is expected to be completed by 2027.
   
• In December 2023, OnePlus launched the Warp Charge 50 Wireless Charger, designed to provide fast wireless charging for its devices, particularly the new OnePlus 12. This charger can deliver a maximum output of 50W, allowing compatible devices like the OnePlus 10 Pro and OnePlus 9 Pro.
   

The wireless charging market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2021 to 2032, for the following segments:

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Market, By Technology         

• Inductive
• RF
• Resonant
• Others

Market, By Application         

• Automotive
• Consumer
• Industrial
• Healthcare
• Aerospace & Defense
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA