Latest News- Wireless Charging Market: Inductive is expected to lead the Technology segment during 2025-2029

The Wireless Charging Market is being driven by Rising adoption of consumer electronics

The Wireless Charging Market is expected to grow at a CAGR of 39.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 40369.5 million. The global wireless charging market is experiencing significant growth due to the introduction of innovative solutions that cater to the demand for efficient, cable-free power alternatives across various industries. On June 20, 2023, Powermat Technologies unveiled the PMT350 600W wireless power platform, employing its proprietary SmartInductive hybrid inductive/resonance technology. This platform is specifically designed for industrial, micro-mobility, robotics, medical, and telecom applications, encompassing e-bikes, e-scooters, golf carts, rugged machines, and autonomous robots. By eliminating alignment constraints and reducing maintenance costs, this system significantly enhances operational efficiency. Furthermore, Powermat's licensing model and sub-USD100 reference design offer OEMs reduced capital expenditures, along with full production files and integration support. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Technology
  • Inductive
  • Resonant
  • Radio frequency
  • Others
• Component
  • Receivers
  • Transmitters
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising adoption of consumer electronics
• Growing adoption of electric vehicles
• Expansion in healthcare sector

However, the market also witnesses some limitations, which are as follows:

• High installation cost
• Slower charging speeds compared to wired solution
• Heat dissipation and safety concerns

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Market Scope in Wireless Charging Market Research Report

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Research Analysis Overview

The Wireless Charging Market encompasses technologies like Long-Range Wireless Charging and Bi-Directional Charging for various applications, including Electric Vehicles (EVs) and Internet of Things (IoT) devices. Qi standard and Power Matters Alliance lead the Inductive Charging sector, while High-Speed Wireless Charging and Simultaneous Multi-Device Charging are emerging trends. EV owners benefit from the Convenience Factor, with Qi-based Charging Stations and Cordless Chargers gaining popularity. Semiconductor industry advances drive innovation in Magnetic Resonance, Radio Charging, and Resonance Charging for fleet electrification, aerospace, defense, and smart city initiatives. Despite advancements, concerns over Wear and Tear, Maintenance, and Replacement remain.

Market Research Overview

The Wireless Charging Market is a significant segment of the global Technology Hardware, Storage, and Peripherals Market, encompassing Electric Vehicles, Long-range wireless charging, Bi-directional wireless charging, and various charging technologies such as Inductive and Resonant. This market is driven by the increasing demand for data storage solutions due to the growing volume, velocity, veracity, and variety (4Vs) of data in the Information Technology sector. Technavio, a leading technology research firm, categorizes this market within the broader Technology Hardware, Storage, and Peripherals Market, which includes manufacturers of cellular phones, personal computers, servers, and peripherals. The market size is determined by the revenue generated from sales of wireless charging hardware, equipment, and components. Key technologies in the Wireless Charging Market include Inductive technology using the Qi standard, Power Matters Alliance, Magnetic resonance, and Radio frequency technology.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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Website: www.technavio.com/