Wireless Charging Market

1. Analysis of Wireless Charging Market Size by Research Nester Reveals the Market to Grow with a CAGR of approximately 23% During 2023-2035 and Attain around USD 35 Billion by 2035 Research Nester assesses the growth and market size of the global wireless charging market which is anticipated to be on account of the rising popularity of smart wearables and higher adoption of electric vehicles. New York – June 3, 2023- Research Nester’s recent market research analysis on “Wireless Charging Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global wireless charging market in terms of market segmentation by technology, application, end users, and by region. Growing Use of Smart Devices to Promote Global Market Share of Wireless Charging The global wireless charging market is estimated to grow majorly propelled by the higher adoption of smart devices and IoT devices. Wireless smartphone charging has been made possible by introducing industry standards such as the Qi wireless charging standard. Nearly one billion cell phones worldwide will be able to enable wireless charging by the end of 2021. The number of smart wearable device users in the United States climbed from around 20% (of the population) in 2021 to about 25% in 2022, and it is expected to reach about 27% in 2024. Consumers can start charging their smart wearable technology by just placing it on a power pad or station. Moreover, IoT devices such as sensors that monitor the environment, property trackers, and location trackers frequently require uninterrupted power to function properly. For these products, wireless charging provides a frictionless transfer of electricity option.

2. Besides this, the rising demand for wireless charging in the automotive and food industry is expected to augment the market growth. Wireless charging negates the need to manually connect the electric vehicle to the charger. As a result, it is one of the most practical methods for the rapidly increasing industry of electric vehicles. The global electric vehicle stock is expected to reach 350 million units by 2030. Moreover, wireless charging technology can be used with specific food preparation equipment, such as induction cooktops or wireless-powered kitchen appliances. They increase kitchen layout versatility by eliminating the requirement for physical connectors. Some of the major growth factors and challenges that are associated with the growth of the global wireless charging market are: Growth Drivers: Rising Adoption of Electric Vehicle Growing Popularity of Smart Gadgets Challenges: Wireless charging is only compatible with devices, that adhere to the standards and when it comes to charging rate, wireless charging is still slower than traditional cable charging is some of the major factors anticipated to hamper the global market size of wireless charging. On the basis of Qi wireless power technology, there are two standards Airfuel Alliance and Wireless Power Consortium (WPC). Wireless charging can be supported by only those devices which have any of the above two standards. There is still an absence of unified charging standards, which is expected to stifle market growth. On the other hand, the market growth is also restricted by the high cost of the infrastructure needed for electric vehicle.

3. Access our detailed report at: https://www.researchnester.com/reports/wireless-charging- market/5026 On the basis of end users, the global wireless charging market is segmented into automotive, electronics, healthcare, defense, and industrial. The healthcare segment is to generate the maximum revenue by the end of 2035 by growing at a significant CAGR between 2023 and 2035. The growth of the segment is expected on the back of the use of wireless charging in various applications in healthcare. For instance, they can be used to power patient monitoring systems, wearable medical equipment, and implants. Moreover, based on the technology, the market is fragmented into inductive, magnetic resonance, and radio frequency. Amongst all, the inductive segment is to garner the highest revenue by the end of 2035. Furthermore, by application, the commercial charging station will show significant growth owing to the higher deployment of charging docks at stations, restaurants, hotels, malls, and others. By region, the Asia Pacific wireless charging market is to generate the highest revenue by the end of 2035. Growing sales of electric vehicles and rising wireless technology research & development in the region are likely to boost market expansion. China dominates the wireless charging war, accounting for more than 50% of total patents in the wireless charging market. Moreover, electric vehicle unit sales in Asia are estimated to reach over 9 million units by 2028. Moreover, the rising adoption of smartphones in the region is also credited to the market growth in the region

4. Consult our expert analysts at: info@researchnester.com or contact us at: https://www.researchnester.com/contact for any customized report. This report also provides the existing competitive scenario of some of the key players of the global wireless charging market which includes company profiling of Texas Instruments, Inc, Pathronic AG, Energizer Holding Inc., ConvenientPower, Leggett and Platt Inc., Tesla Inc., Electeron Wireless Ltd., Powermat Technologies Ltd., WiTricity Corporation, Qualcomm Incorporated. Request Report Sample@ https://www.researchnester.com/purchage/purchase_produc t.php?token=5020 Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties. Contact for more Info: AJ Daniel Email: info@researchnester.com U.S. Phone: +1 646 586 9123 U.K. Phone: +44 203 608 5919