The wireless charging ICs market is anticipated to expand its boundaries at a steady CAGR of 16.7% during the forecast period. The market holds a share of USD 2.8 Billion in 2023 while expecting revenue of USD 13.1 Billion by 2033.
The wireless charging ICs market outlook explains that the higher penetration of advanced smartphone technology along with the vendors are trying to assemble the device to make a difference in the flagship category. The faster, more reliable, and easier way to charge the smartphone is the major factor that fuels the sales of wireless charging ICs. Furthermore, the integrated chips expanding its manufacturing for wireless power and charging is also helping the IC market. The advanced systems in automobiles that provide wireless charging and power control are also adopting wireless charging ICs globally.
The research report on wireless charging ICs states the need for advanced technology, such as transmitter-based wireless charging ICs and receiving panels. Wireless charging has slightly taken over wired charging. This takes away the fiddling with cables, reducing the wear and tear on your device, and enabling different smartphones that charge faster and smoother instead of carrying multiple cables.
Another factor that fuels the sales of wireless charging ICs is this becoming a safer way to transfer power without any data theft, putting your safety and security at risk. The global wireless charging market is undergoing changes as a result of the growing smart device charging landscape. Wireless charging solutions are becoming more widely adopted due to advantages such as safety, cost-effectiveness, and reliability
The better and enhanced look of wireless charging makes it more sophisticated and presentable. Though most wireless charging systems deliver slower and less efficiently than wired charging. However, wireless charging becoming a technological trend, making it thrive at a higher CAGR between 2023 and 2033.
| Attributes | Details |
|---|---|
| Wireless Charging ICs Market CAGR (2023 to 2033) | 16.7% |
| Wireless Charging ICs Market Size (2023) | USD 2.8 billion |
| Wireless Charging ICs Market Size (2033) | USD 13.1 billion |
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Short-term Growth: Wireless charging technology earlier was introduced in very rare consumer electronics to enhance the ease of operations along with the higher demand from the healthcare sector.
Mid-term Growth: During this phase, the market took a blow as covid-19 expanded and the research around wireless techniques crashed. Therefore, the phase can be defined as the lowest phase for the market.
Long-term Growth: Wireless charging ICs are now being commonly used in electric as well as fuel-based vehicles, making them exclusive to common masses. The flagship phones and smart devices are adopting wireless power and charging support. The market now thrives at a CAGR of 16.7% during the forecast period.
Users are readily adopting wireless charging pads and wireless charging power banks for a quick charge of their electrical gadgets in a dependable, convenient, and safe way.
By eliminating the use of physical connectors and wires, wireless charging delivers efficient, cost-effective, and safety advantages over traditional charging systems. It also ensures constant power transfer to ensure that all types of devices (handheld industrial gadgets, smartphones phones with wireless charging, heavy-duty equipment, and others) are charged and ready to use.
Increasing applications of wireless charging in heavy-duty industrial devices for continuous power delivery is expected to fuel market expansion in the future. The wireless changing landscape is evolving into a lucrative ecosystem in terms of usability and product design, thanks to drop & charge trends and wireless radiofrequency (RF) energy base chargers.
The market is primarily driven by increased internet usage in smart devices. Furthermore, disruptive technologies and wearable gadgets are paving the way for market growth.
The wireless changing landscape is evolving into a lucrative ecosystem in terms of usability and product design, thanks to drop & charge trends and wireless radiofrequency (RF) energy base chargers. The market is primarily driven by increased internet usage in smart devices. Furthermore, disruptive technologies and wearable gadgets are paving the way for market growth.
The demand for wireless charging solutions is substantially increasing as the electric vehicle (EV) sector continues to evolve. In the whole value chain of electric vehicles, wireless EV charging technology is expanding in tandem with maturing technological standards. Research and Development initiatives in far-field wireless charging technologies are creating profitable opportunities for market players in order to meet the expanding demand.
Principal Consultant
| Region | Absolute Market Growth |
|---|---|
| USA | 1.1 Billion |
| United Kingdom | 401.5 Million |
| China | 887.8 Million |
| Japan | 937.3 Million |
| South Korea | 794.9 Million |
Due to the advancements in the electronics sector and increased EV sales, North America is anticipated to contribute significantly from 2022 to 2032.
By region, the wireless charging market trends have been assessed for North America, Europe, Asia-Pacific, and LAMEA. Due to the rise in demand for fuel-efficient and durable charging systems for electronic devices such as power tools and portable gadgets, Europe was the second largest revenue contributor, while North America is predicted to dominate the market throughout the forecast period.
The presence of Major Wireless Technology Players makes it the Biggest Market.
| Region | Attributes |
|---|---|
| USA Market CAGR (2023 to 2033) | 13.5% |
| USA Market Absolute Doller Growth (USD Million/Billion) | USD 1.1 billion |
According to FMI, the USA plays a crucial role in the expansion of wireless charging ICs market size as it holds the major implementation and hardware giants. These players have extended research and development teams that constantly go through the different integration solutions of wireless power delivery to enhance charging operations.
Therefore, the USA market for wireless charging ICs is likely to cross a value of USD 1.5 Billion by 2033.
The Asian Hub for Transforming Technology, South Korea extends its Research while Booming at the Fastest CAGR
| Region | Attributes |
|---|---|
| South Korean Market CAGR (2023 to 2033) | 19.9% |
| South Korean Market Absolute Doller Growth (USD Million/Billion) | 795.9 Million |
South Korea has been the house of innovative technologies such as wireless headphone technology and is known for its niche work based on research. The country is currently developing extensive research for wireless charging ICs to make them faster.
For instance, a South Korean research team has developed a wireless charging method with an operation area of 30 meters. The market is likely to cross a value of USD 949.2 Million by 2033.
In-house Projects of Wireless Power Delivery, China Pushes the Universal Charging Standard for Smartwatches.
| Region | Attributes |
|---|---|
| Chinese Market CAGR (2023 to 2033) | 17% |
| Chinese Market Absolute Doller Growth (USD Million/Billion) | USD 887.8 Million |
According to FMI analysis, China is estimated to reach a value of USD 1.1 Billion by 2033.
Just like South Korea, China also thrives in the technological race with its high manufacturing power. The higher production of ICs in China and Taiwan fuels the export of IC technology, pushing the vendors to implement them according to their needs.
The jump in the production of wireless charging ICs has been witnessed over the last two years and is expected to be the same in the future.
| Segment | Top Product Type |
|---|---|
| Top Sub-segment | Transmitters |
| CAGR (2017 to 2022) | 15.1% |
| CAGR (2023 to 2033) | 16.2% |
| Segment | Top Application |
|---|---|
| Top Sub-segment | Consumer Electronics |
| CAGR (2017 to 2022) | 15.4% |
| CAGR (2023 to 2033) | 16.6% |
The transmitter technology is easy and has a higher bandwidth to support fast wireless charging. The technology can easily be adopted across different power delivery systems. Furthermore, the wider application of this segment makes it grow at a CAGR of 16.2% between 2023 and 2033, while it previously thrived at a CAGR of 15.1%.
The advent of wireless charging ICs for smartphones, smartwatches, and other consumer electronics is fueling the demand for the segment. Furthermore, the flagship category of mobile phones is adopting wireless charging technology.
Wireless charging technology is being more widely adopted in the industrial sector due to its advantages of increased safety and uninterrupted power supply. High demand for wireless charging in a sterile hospital environment is producing new revenue pockets for device manufacturers.
By industry vertical, the market is divided into electronics, automotive, industrial, healthcare, and aerospace & defense. The healthcare wireless charging segment is also predicted to develop at the fastest CAGR between 2022 and 2032.
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The major companies in the market focus on extending their research and development programs while also making their technology futuristic. Wireless power delivery, wireless transmission, and faster charging are some concepts players focus on. Key players in the market are Convenient Power HK Ltd, WiTricity Corporation, Murata Manufacturing Co. Ltd, and Texas Instruments, Inc.
Latest Developments:
The wireless charging ICs market is estimated to be worth USD 2.8 billion in 2023.
The wireless charging ICs market is expected to have a CAGR of 16.7% by 2033.
The wireless charging ICs market expanded at an elevated 15.6% CAGR in the last five years, from 2017 to 2022.
Japan accounted for 18.4% CAGR in the global wireless charging ICs market by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Product 5.1. Receivers 5.2. Transmitters 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Power Range 6.1. High >51 Watt 6.2. Low <15 Watt 6.3. Medium 16-50 Watt 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Application 7.1. Automotive 7.2. Consumer Electronics 7.3. Healthcare 7.4. Others 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia Pacific 8.6. Middle East and Africa (MEA) 9. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. East Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia Pacific Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Convenient Power HK Ltd. 17.2. WiTricity Corporation 17.3. Murata Manufacturing Co. Ltd. 17.4. Texas Instruments, Inc. 17.5. Murata Manufacturing Co. Ltd. 17.6. Broadcom Corporation 17.7. Toshiba Corporation 17.8. On Semiconductor 17.9. Analog Devices, Inc. 17.10. ROHM Semiconductor 17.11. Integrated Device Technology Inc. 18. Assumptions & Acronyms Used 19. Research Methodology
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Wireless Charging ICs Market
