Wireless Charger Market Size, Share & Trends Analysis Report By Products (Charging Pad, Power Mat), By Component (Transmitters, Receivers), By Technology (RF, Resonant), By Application, By Power Output, By Region, And Segment Forecasts, 2024 - 2030

Wireless Charger Market Size & Trends

The global wireless charger market size was estimated at USD 4.28 billion in 2023 and is expected to grow at a CAGR of 23.5% from 2024 to 2030. The growing demand for consumer electronics worldwide is driving the demand for wireless chargers. The technology offers consumers an extended lifespan regarding their charging needs and aids in reducing replacement costs. The growing adoption of Electric Vehicles (EVs) globally is a critical factor driving the adoption of wireless chargers. Sustainability has become a standard item under the priority lists of governments and companies worldwide.

Governments of several nations are pushing policies that help build a conducive environment for the EV market. For instance, the European Union aims to become climate-neutral by 2050, and EVs are set to play a key role in accomplishing this goal. Wireless chargers have several applications in the military and defense sectors. These chargers transmit electrical energy from a power source to a device without wires. Wireless Power Transfer (WPT) can recharge batteries embedded in Unmanned Ground Vehicles (UGVs) used on the battlefield, eliminating the need for soldiers to leave the safety of armored vehicles to recharge them.

WPT can also transfer power between a vehicle seat and a soldier-worn vest to recharge a soldier’s central battery while they sit in the vehicle. These devices help reduce the weight of batteries and cords that soldiers need to carry, making them more agile and efficient on the battlefield. Militaries of multiple nations, such as the U.S., invest in wireless charging capabilities to gain a tactical edge. For instance, in April 2023, Resonant Link announced that the U.S. Army is continuing its partnership with Resonant Link, a wireless charger developer, to enhance operational efficiency and transition the army to a clean energy future.

Market Concentration & Characteristics

The industry growth rate is high, and the market growth is accelerating. The industry is moderately concentrated and has a high degree of innovation. The industry is characterized by companies engaging in acquisitions, partnerships, collaborations, mergers, and product launches to augment revenue and improve industry standing. For instance, in October 2023, PULS GmbH, a company involved in power supplies for industrial applications, announced the acquisition of Wiferion, an energy solution supplier focusing on wireless chargers for multiple applications. The newly formed entity will operate globally as PULS Wireless. The parent company plans to offer its customers high efficiency for their fleet and enhance productivity while reducing daily costs.

The impact of regulations on the global market is relatively moderate, influencing various aspects of the industry. Regulations play a crucial role in shaping the market landscape and driving compliance standards for manufacturers and consumers. Regulations backing sustainability in business from regulatory authorities across the globe, such as the European Commission (EU) and the United States Environmental Protection Agency, help build a conducive environment for industry growth. Moreover, standards and regulations in regions, such as Europe, the U.S., and Canada, among others, play an influential role in aspects, such as safety, interoperability, and performance of wireless charging technologies.

Component Insights

The transmitters segment dominated the market with a share of 66.1% in 2023. The segment is projected to expand further at a CAGR of 20.0% from 2024 to 2030. A significant factor influencing this growth is the rising adoption of the Internet of Things (IoT) globally. According to the OECD. there has been a dramatic increase in venture capital investment in IoT firms and IoT-related patents. In addition, businesses are transforming digitally across several industries, which is fostering demand for transmitters as they facilitate power transmission.

The receivers segment is expected to grow rapidly over the forecast period due to innovative solutions. Improvements, such as enhanced power conversion efficiency and better thermal management, are increasing their significance. The introduction of Gallium Nitride (GaN) technology in wireless charging receivers has made higher efficiency possible than traditional silicon-based receivers, resulting in energy savings and faster charging speeds. Moreover, the availability of receivers in various forms to cater to a wide range of applications is a relevant factor in driving segment growth. Ultra-thin and flexible receivers have utility in smartphones, while modular receivers have value in medical devices and home automation systems, among others.

Products Insights

The charging pad segment accounted for the largest revenue share in 2023 due to the high smartphone demand. A charging pad eliminates the need for cables and transmits power to smartphones wirelessly. According to the GSM (Global System for Mobile Communications) Association, more than half of the global population owned smartphones in 2022. Rising disposable income in emerging economies and consumer interest in 5G are pushing the demand for smartphones and driving segment growth.

The charging vehicle mount segment accounted for a substantial share in 2023. These devices offer a convenient solution to passenger vehicle owners by providing a mounted wireless charging solution integrated with directions, music players, and other facilities. The increasing adoption of passenger vehicles across regions, such as Asia Pacific and North America, is boosting segment growth.

Technology Insights

The inductive technology segment accounted for the largest revenue share in 2023 due to compatibility benefits of this technology, as several inductive chargers follow a universal standard. In addition, the technology reduces risks, such as electrocution, damage through contact with water, or short-circuiting and allows users to charge multiple devices simultaneously. These benefits associated with the inductive technology drive its application in wireless chargers.

The Radio Frequency (RF) technology segment is expected to grow at the fastest CAGR from 2024 to 2030. The relevance of the technology in healthcare devices is fueling the segment's growth. Radiofrequency charging is used in medical devices for wireless charging through the skin, eliminating the need for invasive procedures to replace batteries. The medical devices industry's growth is expected to influence the growth of this segment.

Power Output Insights

The up to 5W power output segment held the largest revenue share in 2023 due to the growing demand for typical consumer electronics requiring low-power outputs, such as smartphones, digital cameras, wearables, and tablets. Charging pads built for personal use often fall under this range. Manufacturers of wireless chargers are capitalizing on the revenue-generating opportunity presented by the high adoption of such devices and are offering wireless chargers in accordance with the devices’ power output requirements. For instance, Zens caters to different smartphones, such as iPhones or Samsung mobiles, AirPods, and Apple Watch.

The 5W to 500W power output segment is projected to register the fastest CAGR from 2024 to 2030 due to the growing adoption of wireless chargers that offer a power output for industrial machinery, light EVs, and autonomous robots. In addition, rising demand for drones is expected to play a significant role in fostering segment growth. For instance, Europe is investing heavily in drones, and the European Union has implemented strategies focused on drones, mainly the European Drone Strategy 2.0, to foster a healthy market for drones.

Application Insights

The consumer electronics segment held the largest share in 2023 due to technological advancements, such as the emergence of 5G and 4G in different regions, high-spec smartphones at affordable prices, rising disposable income in emerging economies, and increasing demand for wearables. Government initiatives in emerging economies to foster exports are also expected to play a key role in market growth. For instance, the Government of India aims to make electronics one of the top three export categories by 2025-26, as per the Indian Brand Equity Foundation (an initiative by the government of India).

The defense segment is projected to register the fastest CAGR from 2024 to 2030. Governments, such as the U.S. government, are investing in wireless chargers to enhance operational efficiency and gain a tactical edge. Among other benefits, wireless charging can power helmet-mounted devices, such as night vision, radio devices, and defog optics, through vest-to-helmet wireless power transfer (WPT). It can help improve situational awareness and communication for soldiers in the field. The role of wireless chargers is expected to gain a high degree of relevance in military operations due to the benefits they offer military units.

Regional Insights

The North America wireless charger market dominated the global industry with a share of 37.1% in 2023 due to the region's high adoption of EVs. Governments of various countries in this region are heavily promoting the adoption of EVs to meet their sustainability goals. In addition, the high adoption of smartphones and wearables is driving regional market growth.

U.S. Wireless Charger Market Trends

The wireless charger market in the U.S. accounted for a share of nearly 31% of the global revenue in 2023 due to the high demand for chargers with power outputs higher than 1000W. Moreover, government initiatives to promote the EV market significantly drive the demand for wireless chargers. The U.S. government aims to have 50% of all new vehicle sales comprised of electric engines by 2030.

Asia Pacific Wireless Charger Market Trends

The Asia Pacific wireless charger market is projected to expand rapidly over the forecast period due to its robust manufacturing sector. As companies undergo digital transformation, the demand for wireless charging is expected to increase substantially for industrial machinery, automated robots, and other devices. The high proliferation of consumer electronics, such as laptops for business use due to foreign expansion in lucrative consumer markets, is another factor fueling market growth.

The wireless charger market in China accounted for the majority share in 2023 due to the rapid emergence of industrial automation in the country, which raised demand for wireless chargers. According to the International Federation of Robotics (IFR), China is one of the top countries in industrial automation and has been experiencing a surge in this field. Wireless charging supports manufacturing automation by eliminating idle charging time, increasing safety, and reducing maintenance costs.

The India wireless charger market is projected to expand at the fastest CAGR from 2024 to 2030 due to the growth of the country's medical devices industry. Wireless chargers extend medical devices' battery life, resolve sterilization problems, and eliminate the need for invasive procedures. According to Invest India, the Indian medical device market is expected to be valued at USD 50 billion by 2025, a significant opportunity for the players in the wireless charger market.

Europe Wireless Charger Market Trends

The wireless charger market in Europe accounted for a significant share in 2023 due to high product demand as a result of the increased adoption of drones in the region. Wireless chargers circumvent operational challenges associated with flight durations and eliminate contact-based conductive charging technology issues. The introduction of regulatory frameworks, such as the European Union’s UAS (Unmanned Aircraft Systems) Regulation, has provided clarity and guidance for businesses looking to leverage drones for commercial purposes. These regulations have helped mitigate safety concerns and legal uncertainties, thereby fostering a conducive environment for the growth of the commercial drone market.

Middle East & Africa Wireless Charger Market Trends

The Middle East & Africa wireless charger market held a considerable share in 2023 due to the growing adoption of luxury consumer electronics in the region, driving demand for wireless charging products, such as power mats and charging pads. In addition, the region is witnessing an upward trend regarding demand for EVs, thereby creating a lucrative market growth environment.

Key Wireless Charger Company Insights

Some of the key players operating in the market are Resonant Link, SAMSUNG, Ossia Inc., Plugless Power Inc., and Anker (Anker Innovations Technology)

• Resonant Link develops and produces wireless chargers for multiple industries. These chargers are used for neurostimulators, pacemakers, passenger vehicles, industrial machinery, and consumer electronics

• SAMSUNG, among other products, develops and produces wireless chargers, mainly for smartphones and smartwatches. The company’s chargers are compatible with Qi-certified devices (a standard in the industry). The company leverages its position in the smartphone industry to promote its wireless chargers and acquire a robust position in the market

Recent Developments

• In 2024, Anker (Anker Innovations Technology) announced the launch of a new range of MagGo wireless chargers. The products in this range come in various form factors and are equipped with magnetic power profiles that automatically align charging elements to phones to offer a stable and strong connection

• In 2024, InductEV Inc., a wireless charger manufacturer, announced its partnership with Pheonix Motor, a manufacturer of heavy-duty buses and electricity solutions provider. The partnership aims to integrate the hardware, software, electrical, and cooling systems of InductEV Inc.'s wireless charging pads with Phoenix's zero-emission driving systems

• In September 2023, Resonant Link announced a strategic partnership with Cirtec, a medical device manufacturing solutions provider. Through this partnership, Resonant Link will add wireless power capacities to Cirtec’s custom-made and off-the-shelf medical device solutions

• In June 2023, Ossia, Inc., a wireless charger manufacturer, announced a strategic partnership with Nichicon Corp., a manufacturer of batteries and capacitors, among other products. The partnership plans to produce a Nichicon-branded battery that will receive power constantly when in proximity to a Cota Power Transmitter to offer more convenience to customers

• In June 2022, Siemens invested USD 25 million in WiTricity Corp., acquiring a minority stake in the wireless charger company. The overall plan entails both companies joining forces to foster innovation in the emerging wireless charger market for electric vehicles

• In February 2022, Resonant Link, a player in the market developing wireless chargers for medical, defense, and other applications, raised USD 9.3 million. The company had plans to use this to fund product development, strategic hiring, and customer deployment.

Wireless Charger Market Report Scope

Global Wireless Charger Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global wireless charger market research report based on component, products, technology, power output, application, and region:

• Component Outlook (Revenue, USD Million, 2018 - 2030)

  • Transmitters

  • Receivers

• Products Outlook (Revenue, USD Million, 2018 - 2030)

  • Charging Pad

  • Power Mat

  • Charging Stand

  • Charging Vehicle Mount

  • Others

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • Inductive

  • Resonant

  • RF (Radio Frequency)

  • Others

• Power Output Outlook (Revenue, USD Million, 2018 - 2030)

  • Up to 5W

  • 5W to 500W

  • 500W to 1000W

  • Above 1kW

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Automotive

  • Consumer Electronics

    • Smartphones

    • Laptops

    • Wearables

    • Others

  • Industrial

  • Healthcare

  • Defense

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • Saudi Arabia

    • UAE