Wireless Charging IC Market Size, Share & Industry Analysis, By Component (Transmitter ICs and Receiver ICs), By Power Range (Low (up to 5W), Medium (5W-15W), and High (15W and above)), By Application (Consumer Electronics, Automotive, Industrial, Healthcare, and Others), and Regional Forecast, 2024 – 2032

The global wireless charging IC market size was valued at USD 3.83 billion in 2023. The market is projected to grow from USD 4.66 billion in 2024 to USD 23.32 billion by 2032, exhibiting a CAGR of 22.3% during the forecast period.

The market refers to the industry focused on the production and sale of integrated circuits designed for wireless charging applications. A wireless charging IC is a specialized chip that manages the power transfer in wireless charging systems. It regulates the communication between the charger and the device, ensuring efficient energy transfer, battery management, and safety features. The market has grown exponentially due to the increasing demand for wireless charging solutions in consumer electronics, electric vehicles, and other applications. Major players in the market develop ICs that support various standards, enhance efficiency, and ensure safety during charging.

The COVID-19 pandemic initially disrupted the supply chain and manufacturing of ICs, leading to delays. However, it also accelerated demand for contactless solutions in consumer electronics and health-related devices, driving growth in the wireless charging IC market.

WIRELESS CHARGING IC MARKET TRENDS

Increasing Adoption of Fast-charging Technologies to Fuel Market Growth

As consumers strive for quicker and more efficient ways to charge their electronic devices, manufacturers are responding by developing integrated circuits that can handle higher power levels. This shift enhances charging speeds for smartphones, wearables, and electric vehicles, where rapid charging is crucial for consumer convenience. Moreover, advancements in wireless charging standards, such as Qi and PMA, are facilitating higher power transfer rates, allowing devices to charge quickly compared to traditional methods. For instance,

• Toshiba Corporation launched the "TC7763WBG," a wireless power receiver IC for mobile devices that complies with the Qi standard. It enables charging times similar to those of wired connections.

The integration of smart features such as temperature control and foreign object detection ensures safety and efficiency, further engaging consumers. As fast charging becomes a standard expectation, the demand for specialized ICs is expected to rise throughout the forecast period.

MARKET DYNAMICS

Market Drivers

Increasing Dominance of Consumer Electronics Drives Market Demand

The growing popularity of consumer electronics, particularly smartphones and wearables, is significantly driving the market. For instance,

• IDC projects a 6.1% year-over-year increase in global wearable device shipments in 2024, reaching 537.9 million units. This increase will be fueled by a recovering economy and growing adoption in emerging markets.

Manufacturers are integrating wireless charging features to meet consumer demands for convenience and simplicity. The expanding global smartphone market has made wireless charging a strategic selling point for many brands. Additionally, the surge in wearable devices, such as smartwatches and fitness trackers, further boosts the need for compact and efficient wireless charging solutions. Consumers increasingly prefer the hassle-free experience of cable-free charging, enhancing the attractiveness of devices that offer this technology. As more electronic products adopt standardized wireless charging methods, the demand for wireless charging ICs is expected to rise. This factor encourages manufacturers to innovate and create advanced integrated circuits to enable faster and more powerful charging for power solutions.

Market Restraints

Technical Complexity and Slower Charging Speeds Hamper Market Growth

Many consumers prioritize quick charging capabilities, and the awareness that wireless options are less efficient can deter the adoption of this technology among consumers. Additionally, technical challenges, such as heat generation during charging, can affect performance and safety, further weakening user confidence. The requirement for precise alignment between the charging pad and the device can complicate the user experience, leading to frustration. Furthermore, limited compatibility among different wireless charging standards can create confusion among consumers, reducing the trust in wireless solutions. These issues hinder the adoption of these ICs, impacting the wireless charging IC market growth.

Market Opportunities

Growing Integration of Wireless ICs in Electric Vehicles (EVs) Creates Significant Opportunities

The shift of the automotive industry toward electrification enables manufacturers to integrate wireless charging solutions to enhance user convenience and optimize vehicle designs. This technology eradicates the need for large connectors, making charging easier and improving the attractiveness of vehicles. Advancements in high-power wireless charging systems can mitigate range anxiety by offering faster charging times comparable to traditional methods. Further, collaborations between automotive manufacturers and tech companies to develop wireless charging infrastructure further enhance market growth. For instance,

• In April 2024, InductEV, Inc., a provider of wireless charging solutions, teamed up with EO Charging, a provider of EV charging for depot-based fleets. This partnership aims to incorporate InductEV's wireless charging technology into EO's EV charging solutions for commercial fleets.

Rising EV adoption is increasing the need for specialized wireless charging ICs that support higher power levels and safety features, significantly expanding the market share for these ICs in the upcoming years.

SEGMENTATION ANALYSIS

By Component

Need for Effective Energy Conversion to Boost Demand for Receiver ICs

Based on component, the market is divided into transmitter ICs and receiver ICs.

Receiver ICs hold the largest share and are expected to witness the highest CAGR in the market. This is due to their crucial role in efficiently converting received energy into usable power for devices. As consumer demand for wireless charging features increases, mainly in smartphones and wearables, the need for advanced receiver ICs that enhance efficiency and support faster charging will drive the segment's growth.

Transmitter ICs hold a significant share of the market as they are crucial for initiating and managing the power transfer to the receiver. They control the energy transmission and ensure efficient communication between the charging pad and the device, making them essential for the overall effectiveness of wireless charging systems. The factors mentioned showcase the rise in the adoption of transmitter ICs.

By Power Range

Growing Consumer Electronics Sector to Fuel Medium Power Range IC’s Demand

By power range, the market is categorized into low (up to 5W), medium (5W-15W), and high (15W and above).

The medium power range holds the highest share. It is also expected to grow at the highest CAGR due to its versatility in supporting various consumer electronics, such as smartphones and wearables. As manufacturers increasingly prioritize convenience and faster charging solutions, the medium power segment offers an optimal balance of efficiency and speed, driving innovation in this category.

The high power range is expected to grow at the second-highest CAGR in the market due to the rising demand for faster charging solutions in electric vehicles and other high-capacity devices. The automotive and consumer electronics industries require high power systems to deliver rapid charging, which will increase the adoption of high power wireless charging technologies during the forecast period.

By Application

Consumer Electronics is the Leading Application Due to Extensive Adoption of Portable Devices

By application, the market is divided into consumer electronics, automotive, industrial, healthcare, and others.

Consumer electronics hold the highest share of the market due to the widespread adoption of smartphones, wearables, and other portable devices that prioritize convenience and ease of use. As manufacturers increasingly integrate wireless charging capabilities into these products, the demand for efficient and compact wireless charging ICs continues to rise, maintaining its dominance in the market. For instance,

• In December 2023, Anker introduced 15W wireless charging for iPhones. Its new Qi2-compatible chargers will support the iPhone 13, 14, and 15 models following Apple's announcement of improved charging capabilities.

The automotive sector is expected to grow at the highest CAGR in the market due to the increasing adoption of Electric Vehicles (EVs) and the push for innovative charging solutions. Manufacturers’ growing focus on enhancing user convenience and developing efficient charging infrastructure leads to higher adoption of wireless charging ICs, which offer significant advantages.

WIRELESS CHARGING IC MARKET REGIONAL OUTLOOK

Regionally, the market is studied across North America, Asia Pacific, the Middle East & Africa, Europe, and South America.

North America

North America holds the highest share of the market due to the region's strong demand for advanced consumer electronics and a robust infrastructure for adopting new technologies. Additionally, major players in the electronics and automotive industries are based in the region, driving innovation and integration of wireless charging solutions across various applications.

The U.S. holds the highest share of the North American market due to its advanced competitive landscape and strong consumer demand for innovative electronics. The presence of major tech companies and automotive manufacturers in the country further drives investments in wireless charging solutions, accelerating the adoption of wireless charging ICs across various applications. For instance,

• In July 2024, re:charge and the CDTA launched a pilot program in Amsterdam, NY, introducing the first U.S. wireless charging for shared electric bikes, with a station featuring four docks at Mohawk Valley Gateway Park.

Asia Pacific

Asia Pacific is expected to witness the highest CAGR in the market due to rapid growth in the consumer electronics sector, particularly smartphones and wearables. The region's increasing urbanization, rising disposable incomes, and strong demand for innovative technologies are driving the adoption of wireless charging solutions, making it a strategic growth area for the wireless charging ICs market.

Europe

Europe holds a significant share of the market due to stringent regulations promoting sustainability and the adoption of electric vehicles. The region's focus on innovative technology and eco-friendly solutions has encouraged the integration of wireless charging in consumer electronics and automotive applications, driving market growth. Additionally, a well-established infrastructure supports the widespread use of wireless charging technologies.

Middle East & Africa (MEA) and South America

The Middle East & Africa and South America holds a smaller share of the market primarily due to slower adoption of advanced technologies and limited infrastructure. Economic factors, such as lower disposable incomes and varying levels of technological development, are impeding the widespread integration of wireless charging solutions in consumer electronics and automotive sectors in these regions.

COMPETITIVE LANDSCAPE

Key Industry Players

Key Players Launch New Products to Strengthen Market Positioning

Players in the market launch new product portfolios to enhance their market positioning by leveraging the latest technological advancements, addressing diverse consumer needs, and staying ahead of competitors. They prioritize portfolio enhancement and strategic collaborations, acquisitions, and partnerships to strengthen their product offerings. Such strategic product launches help companies maintain and grow their market share in a rapidly evolving industry.

List of Key Wireless IC Companies Profiled:

• Qualcomm Technologies, Inc. (U.S.)


• Texas Instruments Incorporated (U.S.)


• NXP Semiconductors (Netherlands)


• Broadcom (U.S.)


• STMicroelectronics (Switzerland)


• Infineon Technologies AG (Germany)


• ROHM Co., Ltd. (Japan)


• MediaTek (Taiwan)


• Semtech (U.S.)


• Analog Devices, Inc. (U.S.)


• Cirrus Logic, Inc. (U.S.)


• ChargerLab (U.S.)


• Wireless Power Consortium (U.S.)


• Microchip Technology Inc. (U.S.)


• Premier Farnell Limited (U.K.)


• indie Semiconductor (U.S.)


• EDOM Technology (Taiwan)

KEY INDUSTRY DEVELOPMENTS:

• September 2024: ESR released an upgraded Wireless Car Charger that complies with the new Qi2 standard. This version offers magnetic compatibility with Android smartphones and MagSafe-capable iPhones, starting at USD 30 through major retail channels.


• May 2024: STMicroelectronics introduced a 50W, Qi-compatible transmitter and receiver combo for high-power wireless charging in medical devices, home appliances, and computer peripherals. This solution enables faster charging for devices such as vacuum cleaners and drones, eliminating cables and complex docking systems for enhanced simplicity and affordability.


• November 2023: STMicroelectronics launched evaluation boards for Qi-compliant wireless chargers up to 15W, featuring the STWLC38 receiver and STWBC86 transmitter ICs. The STEVAL-WLC38RX and STEVAL-WBC86TX boards enable rapid prototyping and are compatible with the STSW-WPSTUDIO software for development support.


• October 2023: The Wireless Power Consortium launched Qi2 to improve wireless charging. Infineon Technologies AG introduced the REF_WLC_TX15W_M1, its first Qi2 Magnetic Power Profile transmitter. It offers magnet-based positioning for better user experience and benefits in consumer and automotive applications, enhancing efficiency and safety.


• May 2023: Infineon Technologies AG launched the WLC1150, a cost-effective wireless charging controller IC. It is designed for high-power applications, including industrial equipment, healthcare, robotics, drones, vacuum cleaners, power tools, docking stations, and Qi Extended Power Profile (EPP) smartphone chargers.

INVESTMENT ANALYSIS AND OPPORTUNITIES

Investments in wireless charging for Electric Vehicles (EVs) enhance the market by driving innovation and creating advanced charging technologies. Collaborations between automakers and tech companies boost demand for specialized ICs and improve charging infrastructure, making it more accessible to consumers. This focus on faster charging and user convenience further fuels market growth and expands applications for wireless charging ICs.

• In April 2024, Phoenix Motor partnered with InductEV to integrate wireless charging pads with Phoenix's electric drive systems. This collaboration will enable Phoenix customers to choose wireless inductive charging options.


• In June 2022, Siemens invested USD 25 million in WiTricity, a U.S. wireless charging firm, to innovate in the growing wireless EV charging market. Their collaboration aims to standardize wireless charging stations for electric vehicles, enhance interoperability, and advance technology development, driving market adoption.

REPORT COVERAGE

The market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides, it offers insights into the market trends and highlights key industry developments. In addition to the factors above, it encompasses several factors that contributed to the growth of the market in recent years. The market segmentation is mentioned below:

REPORT SCOPE & SEGMENTATION

ATTRIBUTE	DETAILS
Study Period	2019-2032
Base Year	2023
Estimated Year	2024
Forecast Period	2024-2032
Historical Period	2019-2022
Unit	Value (USD Billion)
Growth Rate	CAGR of 22.3% from 2024 to 2032
Segmentation	By Component Transmitter ICs Receiver ICs By Power Range Low (up to 5W) Medium (5W-15W) High (15W and above) By Application Consumer Electronics Automotive Industrial Healthcare Others (Aerospace and Defense) By Region North America (By Component, Power Range, Application, and Country) U.S. (By Application) Canada (By Application) Mexico (By Application) South America (By Component, Power Range, Application, and Country) Brazil (By Application) Argentina (By Application) Rest of South America Europe (By Component, Power Range, Application, and Country) U.K. (By Application) Germany (By Application) France (By Application) Italy (By Application) Spain (By Application) Russia (By Application) Benelux (By Application) Nordics (By Application) Rest of Europe Middle East & Africa (By Component, Power Range, Application, and Country) Turkey (By Application) Israel (By Application) GCC (By Application) North Africa (By Application) South Africa (By Application) Rest of the Middle East & Africa Asia Pacific (By Component, Power Range, Application, and Country) China (By Application) Japan (By Application) India (By Application) South Korea (By Application) ASEAN (By Application) Oceania (By Application) Rest of Asia Pacific
Companies Profiled in the Report	Qualcomm Technologies, Inc. (U.S.) Texas Instruments Incorporated (U.S.) NXP Semiconductors (Netherlands) Broadcom (U.S.) STMicroelectronics (Switzerland) Infineon Technologies AG (Germany) ROHM Co., Ltd. (Japan) MediaTek (Taiwan) Semtech (U.S.) Analog Devices, Inc. (U.S.)