U.S. & China Wireless Charging Market to Reach $24,691.4 Million By 2030

According to a recent report published by Allied Market Research, titled, “U.S. & China Wireless Charging Market By Technology and Industry Vertical: Opportunity Analysis and Industry Forecast, 2021–2030”, the U.S. & China wireless charging market size was valued at $4,103.5 million in 2020, and is projected to reach $24,691.4 million by 2030, registering a CAGR of 19.5%.

Wireless power transmission transfers electrical power from transmitter to receiver without any wire connection. Wireless charging technology allows multiple devices to connect wirelessly. Inductive charging is the most extensively used technology owing to its increased incorporation in wireless charging systems for automotive sectors. Laser and microwave wireless charging technologies are projected to exhibit highest growth in the market owing to their focus on narrow beam capability, comparatively higher frequencies which allow broad bandwidth, and high-power transmission rate.

The constantly evolving portable electronics and wearables majorly drives the growth of the U.S. & China wireless charging market, owing to flexibility and hassle-free charging. Moreover, the necessity to harvest ambient RF energy and increase in sales of electric vehicles are expected to boost the U.S. & China wireless charging market growth. Furthermore, excessive research in far-field wireless charging technologies and trending internet of things (IoT) are expected to provide lucrative growth opportunities. However, technology is expensive to integrate and comparatively slower charging is expected to hinder the growth of the U.S. & China wireless charging market share.

Inductive technology segment contributed the maximum in terms of revenue to the market and accounted for 53.8% share in 2020. Factors such as hassle-free and enclosed connections offered by the inductive charging technology propels the market sales. However, between 2020 and 2030, radio frequency technology are expected to grow at a faster rate, by 22.4% in comparison to other technologies. RF charging has greater opportunities as compared to induction as it possesses stronger technical areas. With Far-Field RF wireless charging, the device need not to be pressed on a panel; radio waves emitted in near area charge the smartphone. 

Home based products segment was the largest contributor of revenue in 2020 and is expected to grow at a CAGR of 20.4% from 2021 to 2030. Increasing demand for efficient charging system for portable electronics is the prime reason for such growth. Surging adoption of wearable devices such as medical equipment, defibrillators, exoskeletons, pacemakers, and wheelchairs in personal healthcare and consumer electronics is one of the major factors for this growth.

COVID-19 Impact Analysis

The COVID-19 has impacted the global electronics and semiconductor sector, due to which production facility as well as new projects have stalled. The emergence of COVID-19 has lowered down the U.S. & China wireless charging market growth in 2020, and is estimated to witness decent growth till the end of 2021. Implementation of partial or complete lockdown across countries is the prime reason for the lower growth rate.

Key Findings of the Study

• The home based products segment is projected to be the major application growth segment during the forecast period. 
• U.S. dominated the market throughout the forecast period.
• China is anticipated to witness highest growth rate during the forecast period.

The key players profiled in the report include Samsung Electronics Co., Ltd., Qualcomm Incorporated., Integrated Device Technology, Inc., Powermat Technologies Ltd., WiTricity Corporation, Energizer Holdings, Inc., Murata Manufacturing Co. Ltd., Sony Corporation, and Fulton Innovation LLC. These market players have adopted various strategies such as product launch, collaboration & partnership, and acquisition, to expand their foothold in the U.S. & China wireless charging market trends.