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Wireless Charging IC Market Size, By Type (Receiver IC, Transmitter IC), By Power Range (Low Range, Mid-Range, High Range), By Application (Consumer Electronics, Automotive, Industrial, Medical, Telecom, Aerospace), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI2908
  • Base Year: 2021
  • Report Format: PDF

Industry Trends

Wireless Charging IC Market size exceeded USD 2 billion in 2021 and is poised to grow at over 18% CAGR from 2022 to 2028. The market growth is due to increasing demand for multiple IoT-connected & e-train-loaded vehicles such as forklifts, robots, portable devices, etc.
 

Wireless Charging IC Market

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Wireless charging ICs offer several high-end features such as precise power supply, small size, compact, and lightweight operations. This has encouraged their adoption in various IoT devices such as asset trackers, shipment trackers, Bluetooth trackers, smart pens, battery-powered electronics, and other electronic devices. Additionally, rising government funding activities to support the adoption of IoT technology will further support the market expansion.
 

The COVID-19 pandemic had a significant impact on the wireless charging IC market. As a result, some production sites have been closed, supply chains have been disrupted, and international trade restrictions have been implemented. As semiconductors are becoming increasingly scarce, numerous automakers have lowered their production capacity. However, by the first half of 2022, to achieve a major competitive edge in the market, manufacturers are pushed to rearrange their manufacturing facilities and raise their investments in wireless charging IC technologies.
 

Advancements in power receiver technology

The receiver wireless charging IC market generated a revenue of around USD 1 billion in 2021 and is anticipated to expand at a CAGR of over 19% during the forecast timeline. The market growth is attributed to its rising adoption in industrial applications such as power tools, service robots, and drones, among others. They are widely adopted in these applications owing to the features offered such as compact design, high efficiency, and high flexibility.
 

Growing demand for portable devices in the medical industry

Wireless Charger IC Size By Power Range

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The low range segment revenue was over USD 1 billion in 2021 and is predicted to witness 20% growth through 2028. Multiple portable medical devices including diagnostic tools, hand-held appliances, pacemakers, and neuromodulation devices have been incorporated with low-power wireless charging IC technology, allowing fast charging and simplicity of use. This enables doctors and clinicians to use wireless tools without difficulty.
 

Several wireless charging IC market participants are continuously focusing on launching new products to address the rising demand and gain a competitive edge in the market. For instance, in November 2021, NuVolta Technologies launched a new 3rd Gen wireless charging IC as an addition to its Nu170x product family. The company designed this SoC for the low to medium power range market, focusing on 5W to 30 W applications. These applications consist of smartphones, wearables, medical portable devices, medical cleaning robots, etc.
 

Proliferation of wireless charging technology in smartphones

The consumer electronics sector held a wireless charging IC market share of more than 35% in 2021, owing to increasing demands for smart devices such as smartphones, smartwatches, tablets, laptops, and game consoles, among others. According to the Mobile Economy report 2022, 75% of the world's population has smartphone connection which is expected to reach 84% by 2025. Additionally, premium smartphone manufacturers, such as Apple, Samsung, and Oppo, among others, are focusing on developing wireless charging-enabled devices, creating growth opportunities for wireless charging IC manufacturers.
 

Favourable government initiatives to promote industrial automation in Asia Pacific

Asia Pacific Wireless Charger IC share By Country

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The Asia Pacific wireless charging IC market is estimated to register growth rate of over 22% from 2022 to 2028. The market growth is impelled by the rising government emphasis on promoting industrial automation in the region. For instance, in October 2021, the South Korean government launched a USD 340 million strategy to assist startups and small & medium-sized businesses in establishing smart factories. Several industrial robots, Automated Guided Vehicles (AGV), and electric forklifts are integrated with wireless charging ICs & modules at these factories. The widespread use of automation and robots in smart factories will propel the market expansion.
 

Focus on inorganic growth strategies to gain a competitive advantage in the industry

Key players operating in the wireless charging IC market include NXP Semiconductors N.V., Qualcomm Inc., Toshiba Corporation, Samsung Electronics, MediaTek, ROHM Semiconductor, and Broadcom Inc., among others.
 

These players are proactively focusing on strategic acquisitions and partnerships to gain a competitive advantage in the market. For instance, in February 2021, Renesas Electronic Corporation acquired Dialog Semiconductor PLC, power management and charging solutions provider. With this acquisition, the company aims to expand its product portfolio including automotive power management IC, wireless charging IC technology, and custom mixed-signal ICs, among others.
 

The wireless charging IC market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2022 to 2028 for the following segments:

Market, By Type

  • Receiver IC
  • Transmitter IC

Market, By Power Range

  • Low range - <15W
  • Mid-range - 16 - 50W
  • High range - >51 W

Market, By Application

  • Consumer electronics
  • Automotive
  • Industrial
  • Medical
  • Telecom
  • Aerospace
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada 
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia 
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • GCC
    • South Africa

 

Authors: Preeti Wadhwani, Prasenjit Saha

Frequently Asked Questions (FAQ) :

The market value of wireless charging IC exceeded USD 2 billion in 2021 and is anticipated to expand at a CAGR of 18% between 2022 and 2028 with surging demand for multiple e-train loaded and IoT-connected vehicles comprising portable devices, robots, forklifts, and others.

Consumer electronics application held around 35% of the industry share in 2021 considering the rising demand for smart devices like tablets, smartphones, game consoles, laptops, tablets, and others.

Asia Pacific market is slated to expand at a CAGR of 22% through 2028 owing to the mounting government emphasis on the promotion of industrial automation in the region.

Major players in the industry comprise MediaTek, Toshiba Corporation, NXP Semiconductors N.V., Broadcom Inc., Samsung Electronics, ROHM Semiconductor, and others.

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Premium Report Details

  • Published Date: Apr 2022
  • Companies covered: 19
  • Tables & Figures: 449
  • Countries covered: 17
  • Pages: 280

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