The wireless charging ICs market is anticipated to expand its boundaries at a steady CAGR of 16.7% during the forecast period. The market holds a share of US$ 2.8 Billion in 2023 while expecting revenue of US$ 13.1 Billion by 2033.
As modern-mobile technology penetrates the market space, wireless charging becomes more common in mobile phones, making the charging process safer, faster, and easy. Furthermore, the flagship range of the smartphone market provides wireless charging ICs.
The increased convenience and efficiency provided to the end users through wireless charging, along with the advent of automobiles coming with wireless charging, are fueling the sales of wireless charging ICs. Wireless power leaders are focusing on industry-leading efficiency and unique and proven hardware. This fuels the demand for wireless charging ICs.
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The increased mobility given by wireless charging technology, as well as the fact that the user does not have to take the charger with them at all times while traveling, makes the technology futuristic. Advanced wireless charging systems in outlets, universities, and buses enable technology penetrate smartphone-integrated markets. Furthermore, key smartphone manufacturers include wireless charging in their products, making them reliable for future use since the market is expected to grow at a faster rate.
Key Points
- The US market is the biggest space for smartphone technology and is anticipated to cross a value of US$ 1.5 Bn by 2033. The regional market is expected to thrive at an elevated 13.5% between 2023 and 2033.
- The South Korean market thrives at the highest CAGR of 19.9% during the forecast period. The market is likely to reach a value of US$ 949.9 Mn by 2033.
- The transmitter segment is expected to thrive in the product category as it has the highest penetration and easy installation process. It is expected to thrive at a CAGR of 16.2% during the forecast period.
- Consumer electronics top the application type segments with a CAGR of 16.6% between 2023 and 2033, while it thrived at a lower CAGR of 15.4% during the previous forecast period.
Competitive Landscape
The focus of key competitors is to deliver effective ICs that also support fast wireless charging. Furthermore, flexibility, according to the smartphone, is needed in the integrated chip for better adjustability. Apart from this, market players focus on minimizing the technology to make it more future-oriented. Key players in the market are Convenient Power HK Ltd, WiTricity Corporation, Murata Manufacturing Co. Ltd, and Texas Instruments, Inc.
For instance:
- Convenient Power HK Ltd has expanded its research and development teams to enhance the IC quality as company grows further.
- Renesas has introduced the wireless charging ICs and the wireless power ICs that are industry-first, flexible Arm Cortex –M0-based SoC Architecture
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Key Segments
By Products:
- Receivers
- Transmitters
By Power Range:
- High >51 Watt
- Low <15 Watt
- Medium 16-50 Watt
By Application:
- Automotive
- Consumer Electronics
- Healthcare
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
4. Global Market Analysis 2017-2022 and Forecast, 2023-2033
4.1. Historical Market Size Value (US$ Mn) Analysis, 2017-2022
4.2. Current and Future Market Size Value (US$ Mn) Projections, 2023-2033
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