Authored By: Sarah
10 Oct 2024

Latest News:- Wireless Chargers Market: Consumer electronics is expected to lead the Application segment during 2024-2028

Wireless Chargers Market to grow at a CAGR of 23.5% during 2024-2028

The Wireless Chargers Market is expected to grow at a CAGR of 23.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 68.42 billion. In the wireless charging market, traditional methods involve placing devices on a charger pad for connection and power transfer. However, the loss of connection upon device removal halts the charging process. To address this limitation, companies are advancing over-the-air wireless charging technology. This innovation converts wireless signals into electricity, enabling devices to charge from any proximity, provided they are paired with the charger. Energous, a leading wireless energy technology company, has introduced WattUp, a RF-based system that prioritizes and powers multiple devices simultaneously. Other firms are also investing in commercializing over-the-air technology, revolutionizing the wireless charging landscape. 

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The Consumer electronics subsegment is expected to dominate the Application segment during the forecast period 

Technavio analysts predict that the Consumer electronics subsegment will lead the Application segment during 2024 and 2028 In the global wireless chargers market, the consumer electronics sector is a major application area, fueling the increasing adoption of wireless charging technology. This segment comprises a wide array of devices such as smartphones, smartwatches, earbuds, tablets, and other portable gadgets. The market's growth is driven by the convenience offered by wireless charging, which eliminates the need for cables and provides a seamless charging experience. Notably, smartphones, which constitute a significant portion of the consumer electronics segment, are leading the charge in wireless charging adoption. Key players in the smartphone industry, including Apple Inc., are integrating wireless charging capabilities into their premium models, further boosting market demand. For instance, Apple's MagSafe charging infrastructure on iPhones enables wireless charging without the need for cables.

Here are the various ways based on which the market is segmented: 

  • Application
    • Consumer electronics
    • Healthcare
    • Automotive
    • Industrial
    • Defense
  • Technology
    • Inductive
    • Magnetic resonance
    • Radio frequency
    • Microwave
    • Optical beam
  • Geography
    • APAC
    • Europe
    • North America
    • South America
    • Middle East and Africa

Reasons to Purchase the Global Wireless Chargers Market Market Research Report by Technavio. What is in it for you?

  • Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
  • Insight into Current Market Trends: Our research reports provide our readers insights into the latest market intelligence, competitor strategies, market trends, changes taking place in the industry and customer preferences, forecasted market opportunities that influence them to make better business decisions
  • High ROI with Extensive Hands-on Research: Technavio is renowned for offering personalized market research reports as per unique business needs, delving deep into specific markets, product segments and demographics. Additionally, it is also well-known for providing high return on investments through its wide collection of data at pocket-friendly rates

There are several factors that are causing the market to flourish increasing adoption of qi standard

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The wireless chargers market is experiencing significant growth due to the increasing demand for convenient and contactless charging solutions across various industry verticals. Electric chargers using inductive or resonant technology are gaining popularity in consumer electronics, including smartwatches, smartphones, and computer laptops. In the automotive segment, wireless charging is being adopted for electric vehicles (EVs) and even in the aerospace & defense industry for charging small batteries in remote locations. Inductive technology, using magnetic fields, and radio frequency technology are the two primary wireless charging methods. Inductive charging is commonly used for charging small batteries in devices like smartphones and wireless earbuds, while radio frequency technology is used for long-range charging of electric vehicles and even giant robots. Bi-directional wireless charging, which allows power to flow both ways, is being explored for infrastructure applications such as wireless charging furniture and EV charging stations. The market is expected to continue growing as the technology becomes more efficient and cost-effective.

Market Research Overview

According to Technavio, the global wireless chargers market is a segment of the broader technology hardware, storage, and peripherals market, which is a constituent of the larger global information technology market. This market encompasses manufacturers of cellular phones, personal computers, servers, and various electronic components and peripherals, including data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other related devices. The market size is determined by the revenue generated from the sales of these hardware devices, equipment, and components. The expansion of the global technology hardware, storage, and peripherals market is anticipated to be fueled by the escalating demand for data centers, particularly in the wake of the COVID-19 pandemic, which has boosted the need for work-from-home technologies.

The Wireless Chargers Market is experiencing significant growth, fueled by the increasing adoption of qi standard. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

 

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