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Wireless Charging Market Business Analysis, Growth and Forecast Report

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Devanshu Shrivastava
Wireless Charging Market Business Analysis, Growth and Forecast Report

Factors such as the adoption of wireless charging technology in medical equipment; rise in need for wireless charging in smartwatches, smartphones, headphones, and other consumer electronic devices; technological advancements; growth in the electric vehicle (EV) industry; developments of wireless EV charging infrastructure, and surge in the efficiency of power transfer are expected to drive the wireless charging market in the foreseeable period (2021–2030).


According to P&S Intelligence, the market generated revenue of around $4.1 billion in 2020, which is expected to witness significant growth in the coming years. One of the key factors boosting the market growthis the surging EV industry. In this sector, wireless charging is becoming popular, as it is replacing the traditional method of EV charging, in which the vehicle is connected to a power source through a cord.



This technology is being implemented in EVs to reduce human involvement and enable the vehicle to charge without any need for a plug. Several international organizations, including the Society of Automotive Engineers (SAE) and the International Electro Technical Commission (IEC), are employed on standards to increase the efficiency and safety of wireless EV charging systems.


Based on the component segment, the wireless charging industry is bifurcated into transmitters and receivers. Between the two, the receivers category accounted for a larger market share in 2020, because several receivers are used to charge many systems from a single source. The wireless charging technology uses radio frequency transmitted via a wireless charger and received by a receiver of the equipment, which is then converted to DC voltage, thus offering an easier charging experience to users.


Furthermore, a large number of receiver components are present in consumer electronics than transmitter components for wireless charging. Thus, the rising demand for wireless charging in consumer electronics and medical devices and the growing EV industry across the globe are expected to propel the market growth during the forecast period.

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Devanshu Shrivastava
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