Wireless Charging Market Analysis

Wireless Charging Market Analysis

The inductive technology segment is poised to witness 20% growth through 2032, owing to an increase in ownership rates of Qi-compatible devices. The growing popularity of these devices will drive the need for advanced inductive wireless charging solutions to provide electrical safety under different weather conditions.

Additionally, this technology can reduce battery overheating through its auto-turn-off feature that switches off once the device is fully charged. Inductive charging technology is also associated with reduced electrical faults and charging errors owing to minimal risks of corroded USB ports, further driving product consumption.

To get key market trends

  Download Free Sample

Wireless charging market value from healthcare applications will reach USD 8 billion by 2032. The mounting consumption of electrical devices to provide chemical or electrical therapy to patients is a prominent factor driving wireless charger demand.

Due to the limited number of organ donors, the use of implantable medical devices has also surged. Since wireless charging is a non-invasive means of recharging batteries for the growing class of implantable devices and other healthcare equipment including EKG machines, the reliance of the healthcare sector on these devices is expected to rise exponentially over the forthcoming years.

Europe wireless charging market held around 30% revenue share in 2022, on account of the booming electric vehicle (EV) sector. As per data from the European Environment Agency, in 2021, electric car registrations were recorded at close to 1,729,000, indicating a rise from 1,061,000 a year earlier. In response to this shift in preference for EVs, government bodies have also been expanding charging infrastructure.