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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.
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,
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.
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,
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.
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.
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,
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.
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.
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.
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,
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.
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Regionally, the market is studied across North America, Asia Pacific, the Middle East & Africa, Europe, and South America.
North America Wireless Charging IC Market Size, 2023 (USD Billion)
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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.
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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,
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 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.
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.
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.
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.
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:
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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
By Power Range
By Application
By Region
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Companies Profiled in the Report |
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The market is projected to record a valuation of USD 23.32 billion by 2032.
In 2023, the market size stood at USD 3.83 billion.
The market is projected to grow at a CAGR of 22.3% during the forecast period of 2024-2032.
By component, receiver ICs is the leading segment in the market.
The increasing dominance of consumer electronics drives the market.
Qualcomm Technologies, Inc., Texas Instruments Incorporated, NXP Semiconductors, and Infineon Technologies AG are the top players in the market.
North America holds the highest share of the market.
Asia Pacific is expected to grow with the highest CAGR during the forecast period.
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