Wireless Charging Market Size, Share, and Trends 2024 to 2033

Wireless Charging Market Size to Reach USD 140.75 by 2033

The global wireless charging market was valued at USD 15.10 billion in 2023 and is anticipated to reach around USD 140.75 billion by 2033, registering a CAGR of 25.01% from 2024 to 2033.

Wireless Charging Market Key Takeaways

• Asia Pacific held a significant share of the wireless charging market in 2023.
• By technology, the inductive segment held the largest segment of the market in 2023.
• By technology, the radio frequency segment is expected to grow significantly during the forecast period.
• By application, the consumer segment dominated the market in 2023 and is expected to maintain its position in the market over the forecast period.
• By application, the healthcare segment is expected to grow at a significant rate in the market during the forecast period.

Asia Pacific Wireless Charging Market Size and Growth 2024 to 2033

The Asia Pacific wireless charging market size surpassed USD 6.95 billion in 2023 and is projected to hit around USD 65.45 billion by 2033, with a remarkable CAGR of 25.13% from 2024 to 2033.

Asia Pacific dominated the wireless charging market in 2023. Rapid economic growth and urbanization in the Asia-Pacific region have led to increased disposable incomes and a higher standard of living, which translates to greater consumer spending on advanced technologies, including wireless charging. The automotive industry in the Asia-Pacific region is increasingly integrating wireless charging solutions, especially for electric vehicles (EVs). Additionally, the healthcare sector is adopting wireless charging for medical devices, further driving market growth.

Europe is expected to witness a notable rate of growth in the wireless charging market in the coming years owing to the increasing investment in wireless charging infrastructure for EVs, rising awareness regarding the benefits associated with wireless charging in technology, favorable government policy, and increasing penetration of internet of things (IoT). The European countries have experienced robust demand for tablets, smartphones, wearables, electric vehicles, and other wireless charging-enabled devices. Moreover, rapid technological advancement and growing innovations in the automotive and consumer electronics sectors are projected to propel the expansion of the region's wireless charging market.

• In March 2024, Starship Technologies, the world’s leading provider of autonomous delivery services, announced the installation of the first wireless charging station for its robots in Europe. In collaboration with Cambourne Town Council, a fleet of Starship robots will recharge autonomously when making grocery deliveries across Cambourne in Cambridgeshire.
• In March 2023, ABT e-Line and WiTricity announced their plan to deliver aftermarket wireless EV charging across Europe. With extensive experience working with the Volkswagen Group (VW), ABT e-Line will initially upgrade the VW ID.4 to support wireless charging from WiTricity, with availability targeted for early 2024. The company plans to expand to additional EV models thereafter.
• According to the Global EV Outlook 2024 of the International Energy Agency (IEA), In Europe, new electric car registrations reached nearly 3.2 million in 2023, increasing by almost 20% relative to 2022. In the European Union, sales amounted to 2.4 million.

Wireless Charging Market Overview

In the era of digitalization, wireless charging is rapidly gaining momentum in portable devices as it does not require a wired connection. Wireless charging is the process of electrically charging battery-powered devices, including smartphones, laptops, wearable tech, digital cameras, and electric vehicles, eliminating the need for cables to charge a device. In wireless charging, the battery-powered device can be charged by placing the device close to a wireless power transmitter or at a designated charging station. The use of wireless charging technology offers both convenience and reliability.

Wireless Charging Market Scope

Wireless Charging Market Dynamics

Driver: Rising demand for consumer electronics

The growing demand for consumer electronics around the world is expected to drive the growth of the wireless charging market during the forecast period. Wireless charging has gained considerable attention as a safe technology for powering and charging electrical devices. The increasing use of electronic devices such as laptops, tablets, smartphones, wearable gadgets, and other portable electronic devices that require regular charging has led to the development of wireless charging technologies. 

Wireless power technology allows users to charge consumer electronic devices quickly and conveniently, and it eliminates the need for a cable. Wireless charging technology is considered safer than conventional cable charging as it significantly reduces the possibility of electrical shock or fire threats as well as contributes to lower energy costs. Thus, the rising use of consumer electronics globally is expected to supplement the wireless charging market growth during the forecast period. 

• In March 2024, Infinix announced the latest addition to its product lineup: the NOTE 40 Series. This remarkable series comprises the NOTE 40, NOTE 40 Pro, NOTE 40 Pro 5G, and the most advanced model, the NOTE 40 Pro+ 5G. The NOTE 40 Series represents a significant advancement in Infinix’s All-Round FastCharge 2.0 technology.
• In January 2024, U&I announced the launch of a new wireless neckband and power bank in India. U&I expands its product portfolio with two mobile accessories: Dynamic Series Wireless Neckband and Turbo Series Power Bank.

Restraint: High cost of installing wireless charging systems for EVs

The high cost required for wireless charging systems for electric vehicles (EVs) is anticipated to hamper the market's growth. A high initial cost is needed for installing wireless power transfer technology as it is to be installed beneath the surface of a vehicle parking area to enable vehicle charging. In addition, middle- and lower-income countries are reluctant to opt for these technologies due to budget constraints, which are likely to limit the expansion of the global wireless charging market.

Opportunity: Rising adoption of wireless charging for EVs

The increasing popularity of wireless charging for electric vehicles across the globe is projected to offer immense growth opportunities to the wireless charging market during the forecast period. The rising production and sales of EVs led to a surging demand for wireless charging technology. Gradually, EV charging technology is poised for a transformative shift from wired charging solutions in which drivers plug in a cable to recharge the car’s battery to wireless charging. Wireless EV charging has no wires, charges EVs quickly and safely, eliminates range anxiety, and provides more convenience. 

Technology companies, original equipment manufacturers (OEM), automakers, and charging infrastructure providers are recognizing their immense potential, which is likely to boost the market expansion for wireless EV charging. Some of the Major Players in the EV Wireless Charging Industry are Continental AG, Daihen Corporation, Delachaux Group, Electreon, Inc., ELIX Wireless, HEVO, Inc., and WAVE, Inc. The market has also witnessed heavy investment by several market players to advance the wireless charging ecosystem. This will accelerate the wireless charging market growth during the forecast period.

• According to the Global EV Outlook 2024, Electric car sales were nearly 14 million in 2023, 95 percent of which were in China, Europe, and the United States. Almost 14 million new electric cars were registered globally in 2023, bringing their total number on the roads to 40 million.  Electric car sales in 2023 were 3.5 million higher than in 2022, a 35 percent year-on-year increase. This is more than six times higher than in 2018. Electric cars accounted for around 18% of all vehicles sold in 2023, up from 14% in 2022 and only 2% five years earlier, in 2018.  
• In March 2024, Scientists at the U.S.’s Oak Ridge National Laboratory (ORNL) successfully demonstrated wireless charging of a passenger electric vehicle (EV) with a 100-kW wireless charger in 20 minutes. The charging was completed with a five-inch gap between the charger and the car, similar to what is achieved in small consumer devices with this ability. 
• In December 2023, Electreon unveiled the world’s first commercial wireless charging terminal for buses in Israel. Electron completed the construction of a groundbreaking wireless charging terminal for parked urban electric buses (e-buses), marking a world first in this innovative charging technology. 

Technology Insights

The inductive segment held the largest segment of the wireless charging market in 2023. In inductive charging, the electromagnetic field is generated by two coils (transmitter and receiver) that transmit the energy. This technology offers ease of positioning devices onto charging pads and eliminates the need for wired connections. The wireless smartphone charging pads often make use of inductive charging. Thereby driving the growth of the segment.

• In May 2024, In the field of wireless charging technology, the 703S model introduced by the Swanscout brand is undoubtedly a highly anticipated product. Wireless chargers are a technology that utilizes electromagnetic induction to transfer energy through electromagnetic fields, enabling devices to charge wirelessly. 

In the wireless charging market, the radio frequency segment is expected to grow significantly during the forecast period. Radio frequency technology is capable of charging several devices simultaneously within its coverage area without the need for any cable by putting the receiver at the same frequency as the transmitter.

Application Insights

The consumer segment dominated the wireless charging market in 2023 and is expected to maintain its position in the market over the forecast period. The growth of the segment is majorly driven by the rising use of consumer electronics devices such as smartwatches, smartphones, and others globally. Wireless charging technology is user-friendly and offers convenience to the gadget users. Moreover, rapid technological innovation and increasing investment are likely to fuel the market’s growth.

The healthcare segment is expected to grow at a significant rate in the wireless charging market during the forecast period owing to the increasing adoption of IoT devices in the healthcare sector. The market has witnessed the growing demand for wireless charging technology in the healthcare industry to boost efficiency and improve the performance of medical equipment and devices.

• In May 2022, Powermat Technologies, the global leader in advanced wireless power solutions, unveiled the new Powermat PMT 100 Wireless Power Solution, which is designed to meet the needs of small medical, lifestyle, and smart home Internet of Things (IoT) devices.

Wireless Charging Market Recent Developments

• In September 2022, Mophie launched the snap+ wireless charging ecosystem. The new Mophie enhanced power solutions offer up to 15W of wireless power for at-home or on-the-go multi-device charging and are MagSafe compatible for iPhone 13/12 models as well as Qi-enabled smartphones. 
• In November 2023, Electreon, a pioneer in wireless charging of Electric Vehicle (EV), announced a partnership to deliver a groundbreaking wireless charging initiative to BDX Företagen AB, a prominent road and freight distribution company operating in Sweden for Ahlsell AB. 
• In May 2024, Purdue University engineers and the Indiana Department of Transportation (INDOT) are working to make it possible for electric vehicles ranging from tractor-trailers to passenger cars to charge while driving on highways wirelessly. Construction is in progress on a quarter-mile test bed on U.S. Highway 231/U.S. 
• In May 2024, WiTricity, the leader in wireless electric vehicle charging, and International Transportation Service LLC (ITS) announced the launch of a first-of-its-kind pilot program at the Port of Long Beach. The six-month program will test the effectiveness and efficiency of WiTricity's patented wireless charging technology in real-world conditions.

Wireless Charging Market Companies

• Samsung Electronics
• Sony Corporation
• Fulton Innovation LLC
• Qualcomm Incorporated
• Texas Instruments
• Plugless Power LLC
• Powercast Corporation
• ConvenientPower HK Ltd.
• Texas Instruments, Inc.
• Semtech Corporation
• Renesas Electronics Corporation
• Belkin International, Inc.
• Energous Corporation
• Witricity Corporation
• Ossia Inc.
• ZenS B.V.

Segments Covered in the Report

By Technology

• Inductive
• Resonant
• Radiofrequency
• Others

By Application

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

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa