Wireless Charging Market Size Worth $39.07 Billion By 2032 | CAGR: 21.20%

The global wireless charging market size is expected to reach USD 39.07 billion by 2032, according to a new study by Polaris Market Research. The report “Wireless Charging Market Share, Size, Trends, Industry Analysis Report, By Technology (Inductive, Resonant, RF, Others); By Application; By Region, And Segment Forecasts, 2024- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market is experiencing significant growth due to the widespread adoption of wireless technologies in consumer electronics. Devices like smartphones and tablets are increasingly incorporating wireless charging capabilities. This surge in popularity can be attributed to the convenience and simplicity offered by wireless charging methods. Unlike traditional charging methods that require cables and specific chargers, wireless charging enables users to power up their devices without the hassle of dealing with cords. This ease of use and the elimination of the need for physical connections are key factors driving the market's expansion, making wireless charging an attractive choice for consumers.

The market has witnessed a flurry of activity, with companies actively introducing new products and offerings to expand their customer base and establish a stronger presence in the industry. A notable example of this trend occurred in August 2023 when Belkin International unveiled a cutting-edge 2-in-1 wireless charging pad featuring MagSafe technology. This innovative wireless charging pad is specifically designed to be compatible with Apple's MagSafe wireless charging standard.

What sets this product apart is its ability to deliver a power boost of up to 15W for iPhone 12 models and subsequent versions. This significant advancement addresses the growing demand for faster and more efficient charging solutions, particularly for the latest iPhone models. By incorporating MagSafe technology, Belkin International Inc. has not only met the evolving needs of consumers but has also contributed to the ongoing evolution of wireless charging standards.

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The market for wireless charging technology is poised for growth, especially in the passenger vehicle sector. A significant development in this regard occurred in May 2022 when Tata Power, a subsidiary of Tata Sons, joined forces with Hyundai Motor India Limited (HMIL). This strategic partnership aimed to bolster the electric vehicle (EV) charging infrastructure, accelerating the widespread adoption of electric vehicles throughout India.

As an element of their partnership, Tata Power established its high-speed 60 kW rapid chargers from the Tata Power EZ Charge series. These chargers were deployed at 34 demonstrated EV retailer sites spread across 29 cities affiliated with Hyundai Motor India Limited (HMIL). This initiative not only showcases a strong commitment to promoting electric vehicles but also highlights the importance of building a robust charging network, a critical factor for encouraging more people to embrace electric vehicles. The integration of wireless charging technology in these setups signifies a significant step toward making electric vehicles more accessible and convenient for consumers, further driving the growth of the market in the foreseeable future.

Wireless Charging Market Report Highlights

• In 2022, the inductive segment held the largest market share due to the rising adoption of inductive charging technology and innovations in the concerned field.
• In 2022, consumer electronics held the highest market share due to consumers continuing to seek out more convenient and versatile charging solutions.
• In 2022, the North American region held the largest market, owing to the presence of innovative companies & start-ups in the sector.
• The key market players include ConvenientPower, Energizer Holdings, PLUGLESS POWER, Mojo Mobility, Murata Manufacturing, and Apple.

Polaris Market Research has segmented the wireless charging market report based on technology, application, and region:

Wireless Charging, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

• Inductive
• Resonant
• RF
• Others

Wireless Charging, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Automotive
• Consumer Electronics
• Industrial
• Healthcare
• Defense
• Others

Wireless Charging, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Wireless Charging Market Report Scope