Wireless Charging Market: Key Drivers and Challenges

Global Wireless Charging Market size was valued at USD 29.20 Bn in 2023 and is expected to reach USD 147.25 Bn by 2030, at a CAGR of 26 %.
Wireless Charging Market Overview

Wireless charging, a revolutionary technology, has transformed how we power electronic devices. It operates on the principles of electromagnetic induction, transferring electrical energy from a transmitter to a receiver without the requirement for physical connections. The transmitter coil generates an alternating magnetic field when supplied with electrical current, which is captured and converted back into electrical current by the receiver coil within the target device. This technology has found applications across various sectors, making it versatile and adaptable. In the realm of consumer electronics, wireless charging is particularly related to smartphones, smartwatches and wireless earbuds. Many modern smartphones come equipped with wireless charging capabilities, while charging pads and stands have become pervasive, streamlining the charging process. Beyond consumer electronics, wireless charging has made substantial inroads into the electric vehicle (EV) industry. The incorporation of wireless charging in EVs offers a convenient and user-friendly alternative to traditional plug-in charging, which is especially valuable for autonomous vehicles and commercial EV fleets.