SkyQuest published the Global Wireless Charging Market will attain a value of USD 35.52 billion by 2031, with a CAGR of 23.80% over the forecast period (2024-2031). One reason for the broader market growth of electric vehicle (EV) charging stations is the increasing popularity of electric cars and the mounting consumers’ desire for ease of charging. With such wireless technologies in place, people who own EVs will easily charge their vehicles without any disturbances as they no longer need cables or plugs that connect them physically. A large degree of popularity of technology results from the ease of using it hence facilitating rapid growth in the market for wireless charging.
Widespread Adoption In Consumer Electronics Allows Inductive Technology to Hold a High Market Share
Currently, inductive technology dominates the global wireless charging industry as it has become very popular with consumers and is respected to be reliable, effective, and safe. Due to inductive charging being so widely used, more manufacturers are compelled to include it in their products, further solidifying its market domination and generating a self-sustaining loop of growing use and advancements in technology.
High Demand for Convenient Device Charging in Electronics Industry Allowing them to Emerge as a Dominant Segment
The strong need for efficiency and convenience in device charging is the reason why the electronics end-use industry leads the global wireless charging market. The need for wireless charging in smartphones, tablets, and wearables propels ongoing innovation and integration, which in turn upholds the industry's hegemony by establishing industry standards and promoting wider consumer use.
Significant Demand from Consumers Electronics Allowing North America to Spearhead Market Demand
With a market share of more than 35%, North America dominated the global wireless charging market. The reason why the region is leading in terms of the use of smartphones alongside other types of mobile devices is due to the fact that it has very many major players. The US is the largest market in North America for any type of charging with electricity that does not have wires since people and organizations are in dire need of it.
Wireless Charging Market Insight
Drivers:
- Increasing Adoption of Electronic Devices and Wearables
- Growing Demand for Electric Vehicles (EVs)
- Surging Demand for Simultaneous Charging Solutions
Restraints:
- Limited Charging Efficiency and Longer Charging Times
- Cost and Infrastructure Limitations
- Compatibility Issues Associated with Wireless Charging Devices
Prominent Players in Wireless Charging Market
The following are the Top Wireless Charging Companies
