Press release
Wireless Charging Market Size, Current Trends, Demand, Growth Opportunities, Business Strategies, Recent Developments And Forecast 2024-2033
Wireless Charging Market Report
The Business Research Company offers in-depth market insights through Wireless Charging Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The wireless charging market size has grown exponentially in recent years. It will grow from $16.43 billion in 2023 to $21.49 billion in 2024 at a compound annual growth rate (CAGR) of 30.8%. The growth in the historic period can be attributed to rise in disposable income, a rise in the number of various surgical procedures, rising demand for consumer electronics and increasing government initiatives.
The wireless charging market size is expected to see exponential growth in the next few years. It will grow to $61.3 billion in 2028 at a compound annual growth rate (CAGR) of 30.0%. The growth in the forecast period can be attributed to the rising demand for electronic devices, increasing popularity and high sales of electric vehicles (ev), growth of a wide range of autonomous and commercial automobiles and rising urbanization. Major trends in the forecast period include advances in wireless charging, use of mi air charge wireless charging technology, strategic collaborations and partnerships, adoption of smart wireless charging board and automotive in-cabin wireless charging solution.
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Market Segmentation:
The wireless charging market covered in this report is segmented -
1) By Components: Transmitters, Receivers
2) By Technology: Inductive Charging, Resonant Charging, Radio Frequency Based Charging, Other Technologies
3) By Transmission Range: Short Range, Medium Range, Long Range
4) By Application: Consumer Electronics, Automotive, Healthcare, Industrial, Defense, Other Applications
Major Driver - Surge In Smartphone Sales Fuels Growth Of The Wireless Charging Market
The increasing sale of smartphones is expected to propel the growth of the wireless charging market. Smartphone devices feature a built-in computer that provides various features such as an operating system, web browsing, and the capacity to run software programs. Wireless chargers offer convenience and increased durability to smart device users, making them a popular choice amongst customers. According to Counterpoint Research, a Hong Kong-based research firm specializing in mobile & technology products, smartphone sales have totaled $448 billion in revenues for 2021, an increase of 7% compared to the values for 2020. Also, according to Gartner Inc., a US-based consulting firm, in March 2022, worldwide smartphone sales grew 6% in 2021, from 1,351,836.5 (Thousands of Units) in 2020 to 1,433,859.4 in 2021. Therefore, the increase in sales of smartphones will drive the wireless charging market.
Competitive Landscape:
Major companies operating in the wireless charging market report are Energizer Holdings, Inc, Samsung Electronics Co. Ltd, Leggett & Platt Incorporated, Renesas Electronics Corporation, Anker Innovations Co., Ltd, Sony Group Corporation, TDK Corporation, Qualcomm Incorporated, WiTricity Corporation, Texas Instruments, Tata Motors Limited, Magenta Power Private Limited, EV Motors India Pvt. Ltd, Delta Electronics Inc, XPeng Inc., Wanbang Xingxing Charging Technology Co. Ltd, Hangzhou Aoneng Power Supply Equipment Co. Ltd, EVTronic, Energysquare, Compleo, Green Energy Service Company, Continental AG, Renault Trucks, Groupe Delachaux, Resonant Link, Aira Power, Plugless Power, Ossia Inc, Evatran Group, Energous Corporation, Powermat Technologies, Powercast Corp, InCharge Energy Inc, Eaton Corporation, Elix Wireless, eLeapPower, Multilaser, Mixx True Wireless Stream Buds, WiPo Wireless, Algocent Limited.
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Top Trend - Technological Innovation Drives Advancements In The Wireless Charging Market
Technological innovation is a key trend gaining popularity in the wireless charging market. Major companies operating in the wireless charging market are focused on providing technologically advanced solutions to strengthen their market position. These companies are implementing next-generation wireless charging technologies into their products, such as electromagnetic induction, automation, radio frequency waves, near field waves, capacitive wireless technology, and others, to enhance charging speed and usability. For instance, in April 2021, Xiaomi (Mi), a China-based consumer electronics company, introduced a new charging system - Mi Air Charge Technology. It enables users to charge electronic devices remotely without the necessity of wires or wireless charging stands. Its phase control array composed of 144 antennas transmits millimeter-wide waves directly to the phone through beamforming.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Wireless Charging Market Characteristics
3. Wireless Charging Market Trends And Strategies
4. Wireless Charging Market - Macro Economic Scenario
5. Wireless Charging Market Size And Growth
…..
27. Wireless Charging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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