“Global Wireless Charging IC Market to reach a market value of 13.72 Billion by 2031 growing at a CAGR of 20.2%”
The Global Wireless Charging IC Market size is expected to reach $13.72 billion by 2031, rising at a market growth of 20.2% CAGR during the forecast period.
The North America region witnessed 36% revenue share in the market in 2023. North America’s dominant share can be attributed to the region’s strong adoption of advanced technologies in consumer electronics, automotive, and healthcare sectors. The presence of key players in the wireless charging ecosystem and significant investment in research and development has further contributed to the region’s leadership in the market.
The growing demand for convenience is a major driver of the wireless charging IC market. Consumers today are increasingly looking for solutions that simplify daily life, and wireless charging eliminates the need for physical cables, offering a more streamlined experience. Many modern devices, from smartphones and tablets to smartwatches and earphones, are designed with wireless charging capabilities to meet the demand for a hassle-free, more user-friendly charging experience. In conclusion, rising consumer demand for convenient and cord-free charging solutions propels the market’s growth.
Additionally, The deployment of wireless charging in commercial and industrial robotics is expanding rapidly, presenting another key driver for the wireless charging IC market. In logistics, warehousing, and manufacturing industries, robots are increasingly used for repetitive, high-precision tasks, and maintaining the power supply is critical to ensure optimal performance. Wireless charging allows robots to recharge without manual intervention or cables, providing a seamless, hands-free solution. In conclusion, the rising deployment of wireless charging in commercial and industrial robotics propels the market’s growth.
However, One of the key challenges for the widespread adoption of wireless charging technology is the high cost of implementation. Wireless charging systems require specialized hardware, including charging pads and receivers, which can be expensive to manufacture and integrate into existing devices. While prices are expected to decrease over time as production volumes increase and technology advances, the initial cost remains a significant barrier to adoption, particularly for small and medium-sized businesses or price-sensitive consumers. In conclusion, the high cost of implementing and integrating wireless charging technology is hindering the market's growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Based on component, the market is divided into receiver ICs and transmitter ICs. The transmitter ICs segment held 36% revenue share in the market in 2023. Transmitter ICs generate the electromagnetic field that powers the receiver ICs in wireless charging systems. As more devices adopt wireless charging technology, the need for efficient, high-performance transmitter ICs grows. These ICs are essential for optimizing the charging process, ensuring compatibility with various devices, and improving overall energy efficiency.
On the basis of power range, the market is segmented into medium (5W-15W), high (15W and above), and low (up to 5W). In 2023, the high (15W and above) segment attained 25% revenue share in the market. High-power wireless charging solutions are increasingly in demand due to their ability to provide faster charging times, which is crucial for power-hungry devices like larger smartphones, laptops, and electric vehicles. The growing adoption of fast charging technologies and the need for more efficient, high-power wireless charging systems across various industries drive the demand for high-power ICs.
By application, the market is divided into consumer electronics, automotive, healthcare, industrial, and others. The automotive segment procured 27% revenue share in the market in 2023. The increasing integration of wireless charging technology in electric vehicles (EVs) and the growing adoption of wireless charging solutions for in-car electronics are key factors driving this segment. As the automotive industry focuses on enhancing convenience and technological features, wireless charging is being increasingly incorporated into vehicle designs, both for charging the vehicle itself and for powering devices within the car, such as smartphones and electric gadgets.
Free Valuable Insights: Global Wireless Charging IC Market size to reach USD 13.72 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Europe region generated 31% revenue share in the market. Europe’s substantial market share is driven by the growing adoption of electric vehicles (EVs) and advancements in the automotive and consumer electronics sectors. The region has also seen a rise in healthcare applications, where wireless charging technology is integrated into medical devices and wearables.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 3.21 Billion |
| Market size forecast in 2031 | USD 13.72 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 20.2% from 2024 to 2031 |
| Number of Pages | 239 |
| Tables | 360 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Component, Power Range, Application, Region |
| Country scope |
|
| Companies Included | Infineon Technologies AG, NXP Semiconductors N.V., Rohm Co., Ltd., STMicroelectronics N.V., Semtech Corporation, ON Semiconductor Corporation, Qualcomm Incorporated (Qualcomm Technologies, Inc.), Analog Devices, Inc., Texas Instruments, Inc., and Broadcom, Inc. |
By Component
By Power Range
By Application
By Geography
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 