Consumer Electronics Wireless Charging Market Size, Share, Growth, And Industry Analysis, By Type (Inductive, Resonant, Radio Frequency (RF), and Others), By Application (Automotive, Industrial, Healthcare, Aerospace & Defense), Regional Forecast To 2031

Updated On: 08 April 2024

Consumer Electronics Wireless Charging Market Report Overview

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The global consumer electronics wireless charging market size is estimated to be USD 4544.89 million in 2021.  As per our research, the market is projected to touch USD 18,532.63 million in 2031, exhibiting a CAGR of 14.79% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the consumer electronics wireless charging experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

With wireless charging, power can be transferred from a power source to a device without the need for a cable or connecting wire. It functions according to the magnetic resonance or inductive power transfer concept, whereby an electric current passing through one coil causes the magnetic field surrounding that coil to change, which in turn generates a current in a second connected coil. Mobile gadgets like smartphones, laptops, and other portable devices are increasingly adopting wireless charging since it provides quick and secure charging options.

COVID-19 Impact: Indefinite Production and Supply Due to Disturbed Economies of Scale

Wireless charging market expansion was negatively impacted by the COVID-19 epidemic. The production of consumer electronics, medical equipment, and electric vehicle firms' manufacturing facilities was suspended, which restrained the market's expansion for wireless charging. However, following the COVID-19 crisis, the market is anticipated to expand once more.

LATEST TRENDS

"Increasing Demand for Smartphones to Propel Market Expansion"

The main drivers of the consumer electronics wireless charging market are the expanding sales of smartphones and the adoption of electric cars. Wireless charging is also becoming more widely used in industrial and healthcare applications due to its capacity to continuously deliver electricity as well as charge many devices at once, both of which contribute to the consumer electronics wireless charging market growth. Other factors driving the market's expansion include the quickly changing portable electronics industry and the growing demand for RF energy harvesting.

Consumer Electronics Wireless Charging Market SEGMENTATION

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• By Type

Based on type; the inflatable ball market is divided into Inductive, Resonant, Radio Frequency (RF), and Others.

• By Sale

Based on the sale; the inflatable ball market is divided into Automotive, Industrial, Healthcare, Aerospace & Defense.

DRIVING FACTORS

"Growing Popularity of Electric Vehicles to Bolster Product Demand"

Due to the introduction of electric vehicles and the sustainability they provide, the automobile sector is expanding quickly. Economic growth is also impacted by OEM technologies and rising auto sales. Along with this, expanding infrastructure development initiatives and bettering road quality are two additional key factors in the rise in car sales. The automotive sector is expanding quickly due to rapid urbanization and the growth of international automakers.

"Rising Prevalence in Medical Sector to Attract Market Share"

Mobile phones, wearables, and other Qi-compatible gadgets can all be wirelessly charged using built-in automotive wireless chargers, which are an integral feature of automobiles. The focus of manufacturers is on wireless chargers with built-in functionality since they will provide a far more convenient way to charge a smartphone while traveling.

The adoption of wireless charging technology in medical equipment, the growth of the electric vehicle (EV) industry, and the rise in demand for wireless charging in smartphones, headphones, smartwatches, and other consumer electronics are the main factors driving the market's expansion.

RESTRAINING FACTORS

"Expensive Infrastructure to Hold Back Market Growth"

The pricey infrastructure needed to integrate wireless charging is anticipated to restrain market expansion for the duration of the projection period. On the other hand, the market is anticipated to benefit greatly from factors like expanding research into wireless technologies and increased consumer interest in the Internet of Things (IoT). The pandemic-related shipping delays and chip shortage are still issues for the automobile sector. The car sector is nevertheless expanding quickly in spite of this.

Consumer Electronics Wireless Charging Market REGIONAL INSIGHTS

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"Increasing Popularity of Electric Vehicles"

During the forecast period, North America is anticipated to account for a large portion of the consumer electronics wireless charging market share. This is due to elements like the rising popularity of electric vehicles and the region's rapidly growing consumer electronics industry.

The second-largest market share, however, is held by Europe, which can be attributed to reasons such the rising sales of portable electronic gadgets and the demand for robust charging solutions.

However, Asia Pacific is expected to have strong market share and size growth throughout the projected period as a result of the region's increasing IoT technology adoption and rising smartphone demand.

KEY INDUSTRY PLAYERS

"Prominent Industry Players in the Industry to Promote Market Expansion"

"The market's expansion was significantly impacted by the techniques employed by market participants in recent years, such as extensions. The report covers details and information about the firms and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. "

List of Market Players Profiled

• Fulton Innovation LLC (U.S.)
• Murata Manufacturing (Japan)
• Renesas Electronics Corporation (Japan)
• Qualcomm (U.S.)
• Powermat Technologies (Israel)
• Samsung (South Korea)
• Sony Corporation (Japan)
• Energizer Holdings (U.S.)
• Texas Instruments (U.S.)
• WiTricity Corporation (U.S.)

REPORT COVERAGE

This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching of recent industry developments, deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.