Wireless Charging Market Size By Technology (Inductive, RF, Resonant), By Application (Automotive, Consumer, Industrial, Healthcare, Aerospace & Defense), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Feb 2020  |  Report ID: GMI440  |  Authors: Preeti Wadhwani, Saloni Gankar

Report Format: PDF   |   Pages: 150   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

 Industry Trends

Wireless Charging Market size exceeded USD 11 billion in 2019 and is set to grow at 14.5% CAGR between 2020 and 2026 driven by rise in global sales of wearable devices and high-end smartphones.
 

The rapid adoption of Electric Vehicles (EVs) globally due to low fuel consumption and performance benefits is driving the wireless charging market demand. Technical standards are maturing and consolidating, ensuring compatibility among all transmitters, portable devices, and chargers.
 

Wireless Charging Market

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The market has been gaining traction over the last few years as several automotive market players are implementing the technology. Global automotive OEMs are placing a high focus on providing a hassle-free charging user-experience.
 

Wireless Charging Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 11 Billion (USD)
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 14.5% 2026 Value Projection: 30 Billion (USD)
Pages: 150 Tables, Charts & Figures: 138
Geographies covered (17): U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, South Korea, Australia, Brazil, Mexico, GCC, South Africa
Segments covered: Technology and Application
Companies covered (15): Convenient Power Ltd., Energizer Holdings Inc., Evatran LLC (Plugless Power), GETPOWERPAD, Integrated Device Technology, Inc., Leggett & Platt, Inc., MediaTek, Inc., Mojo Mobility, Inc., Murata Manufacturing Co. Ltd., Powercast Corporation, Powermat Technologies, Qualcomm Incorporated, Samsung Electronics, Co., Ltd., Texas Instruments, Inc., WiTricity Corporation
Growth Drivers:
  • Technological innovations in the U.S.
  • Increase in global sales of wearable devices
  • High degree of convenience across Europe
  • Growing demand for Electric Vehicles (EV) in Europe and North America
  • Increasing need for wireless charging in advanced medical therapies
  • Growing demand of smartphones in India and South East Asia
  • Rising penetration in commercial and industrial environments in Asia Pacific
Pitfalls & Challenges:
  • Need for standardization
  • Mobility issues and longer charging times

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Use of inductive technology for low-power charging applications is propelling the market growth

In 2019, inductive charging technology accounted for over 45% of the wireless charging market share and is anticipated to maintain its dominance during the forecast timeline. The technology is basically used in low-power applications, such as handheld devices, smartphones, smartwatches, ear pods, and bands, which require charging levels below 100 watts.
 

With the technology, the end-use can place the device to be charged on a conductive pad/equipment, which is directly connected to a wall socket.
 

The technology is being increasingly adopted and implemented in healthcare & medical applications. These chargers serve as an alternative to the conventional wired charging machines and eliminate the transfer of bacteria and other impurities during the charging process. In the healthcare industry, the growing market demand for the technology in sterile environments, such as healthcare units and laboratories, is increasingly witnessed.
 

Moreover, Industry 4.0 trend and the automation of production, packaging, and assembly systems in industrial settings are driving the deployment of wireless charging. The technology reduces the risk of explosions caused by stray sparks, that occur during the disconnection and connection of power cables. The other market segments by technology type include resonant and RF.
 

 Adoption of wireless charging in industrial and healthcare applications

Europe Wireless Charging Market Size By Application

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Wireless charging provides waterproof, hermetically (airtight) sealed surfaces, in contrast to connection sockets, making them free from obstruction and easier to clean. Several logistics companies are deploying electric trucks that can be charged using wireless charging technology in their warehouses.
 

Semtech, for instance, has expanded its LinkCharge wireless charging platform to include high-power industrial applications. The equipment utilizes inductive technology to provide charging for applications requiring up to 20 watts of power.
 

Healthcare applications in the wireless charging market will expand at 16% till 2026. Interruptions in surgical processes due to frequent power cuts and problems in energy transfer have severe impacts on patient treatment. As a result, healthcare industry is moving toward advanced wireless charging alternatives that facilitate performance improvements in medical devices.
 

 Charger manufacturers are focused on developing specialized wireless chargers for medical applications that ease complex charging procedures.
 

Asia Pacific wireless charging market is propelling due to growing demand for EVs and consumer electronics

Asia Pacific Wireless Charging Market Size By Region

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Asia Pacific market will witness a growth rate of 18% through 2026 due to rising demand for EVs, consumer electronics, and wearables. Rise in disposable income coupled with changing consumer preference to spend on quality consumer electronic products designed for the niche segment is driving the market growth.
 

Several food outlets in the region are following the trend of global food chains, such as Starbucks and McDonald, to provide wireless charging to customers. This is expected to have a positive impact on regional wireless charging market revenue.
 

In October 2019, WiTricity partnered with Green Power, a South Korea-based supplier of high-power wireless charging systems and power electronics for various applications. The partnership allows technology and licensing transfer between partners.
 

Green Power will leverage reference designs and innovative technology of WiTricity for wireless EV charging systems. This partnership will help WiTricity to expand its market presence in Asia Pacific countries.
 

 Strategic alliances remain the key growth strategy for market players

The wireless charging industry is fragmented and includes both start-ups and established market players. The industry is witnessing intense rivalry among market players on the basis of product quality, features, and pricing. Consumer electronics market players are focusing on strategic alliances with wireless charging manufacturers to enhance their product features.
 

For instance, in October 2017, Apple acquired PowerbyProx, a New Zealand market player that designs wireless power products for end-use industries and consumers. The acquisition helped Apple provide wireless charging in its several products such as smartphones, Watch Series, and AirPods.
 

Major companies operating in the market include WiTricity Corporation, Texas Instruments, Inc., Qualcomm Incorporated, Powermat Technologies, Powercast Corporation, Murata Manufacturing Co. Ltd., Mojo Mobility, Inc., MediaTek, Inc., Leggett & Platt, Inc., Integrated Device Technology, Inc., GETPOWERPAD, Evatran LLC (Plugless Power), Energizer Holdings Inc, and Convenient Power Ltd.
 

The wireless charging market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2026 for the following segments:

Market by Technology

  • Inductive
  • Resonant
  • RF
  • Others

Market by Application

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

The above information is provided on a regional and country basis for the following:

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

 

Frequently Asked Questions (FAQ) :

The APAC market will witness a growth rate of 18% through 2026 due to growing demand for EVs, consumer electronics, and wearables across the region.
In 2019, inductive charging technology accounted for over 45% market share and is anticipated to maintain its dominance during the forecast timeline.
Healthcare applications will witness a CAGR of 16% till 2026 as healthcare industry is experiencing a shift toward advanced wireless charging alternatives that facilitate performance improvements in medical devices.

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Premium Report Details

  • Published Date: Feb 2020
  • Pages: 150
  • Tables: 116
  • Charts / Figures: 22
  • Companies covered: 15
  • Countries covered: 17

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