The Wireless Charging Market is expected to grow from US$22.714 billion in 2025 to US$45.746 billion in 2030, at a CAGR of 15.03%.
The transmitter or charging station transmits power, while the receiver receives power and charges the battery. It provides consistent power transfer to ensure that all types of devices, such as industrial gadgets, heavy equipment, smartphones, etc., are charged properly. Consumer confidence is increasing as wireless chargers become more efficient. One of the key reasons driving the wireless charging market during the forecast period is the growing use of wireless technology in consumer electronics and electric automobiles. During the forecast period, the wireless charging market is predicted to develop due to an increase in the sales of electric vehicles (EVs), the continually evolving portable electronics and wearables industry, and the frequent need to gather ambient RF energy. Furthermore, increased usage of the Internet of Things (IoT) and extensive research in far-field wireless charging technologies are projected to provide attractive prospects for market expansion in the future. With the introduction of next-generation smartphones and wearables, there has been a considerable increase in the demand for efficient charging infrastructure across the consumer electronics industry. Charging infrastructure that is easy to use, can safely transfer power to the device, and puts little strain on the charging port, among other things, is in great demand at the moment. Wireless charging is now available on luxury smartphones from companies like LG Electronics Inc, Samsung Electronics Co. Ltd., and Apple Inc.
The market's growth is expected to be hampered by high-cost technology due to its integration and slower charging compared to alternative charging technologies. The charging pad is not compatible with devices that do not support Qi wireless charging. For presentation compatibility, different types of wireless chargers are required, such as charging pads and charging boxes. As a result, the user is forced to purchase a number of wireless chargers to install various components which is not cost-effective. Furthermore, another issue that has hampered the growth of the wireless charger industry is safety. Because a considerable amount of energy is dispersed randomly, the concept of wireless charging over a distance adds to the safety concerns.
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