Wireless Charging ICs Market Forecasts to 2030 - Global Analysis By Type, By Component, Power Rating, Coupling Technology, Application and By Geography

According to Stratistics MRC, the Global Wireless Charging ICs Market is accounted for $6.9 billion in 2023 and is expected to reach $27.7 billion by 2030 growing at a CAGR of 21.8% during the forecast period. Wireless charging ICs (Integrated Circuits) are semiconductor components that facilitate the transfer of power wirelessly from a charging pad or transmitter to a compatible device such as smartphones, wearables, or electric vehicles. These ICs manage the conversion of electrical energy into the appropriate form for efficient wireless charging, enabling convenient and cable-free power transfer for modern electronic devices.

According to the Mobile Economy report 2022, 75% of the world's population has smartphone connection which is expected to reach 84% by 2025.

Market Dynamics:

Driver:

Increasing adoption of electric vehicles (EVs) and smart devices

The demand for EVs and smart devices is rising globally, and there is a corresponding need for efficient and convenient charging solutions. Wireless charging ICs offer the advantage of eliminating the hassle of cables and providing a seamless and user-friendly charging experience. This trend fuels the development and deployment of wireless charging technology, driving innovation in the market and leading to its sustained growth and expansion.

Restraint:

High initial setup costs and infrastructure requirements

Implementing wireless charging technology necessitates investment in specialized charging pads, transmitters, and receivers, adding to the overall cost of adoption for both consumers and businesses. Moreover, the installation of infrastructure for widespread deployment in public spaces or workplaces requires additional investment. These initial costs may deter some potential adopters, limiting market growth.

Opportunity:

Rising demand for wireless charging devices

As consumers increasingly prefer the convenience and flexibility of wireless charging solutions for their smartphones, wearables, and other electronic devices, there is a growing need for advanced wireless charging ICs. This trend is further fueled by the integration of wireless charging capabilities into various industries, such as automotive, healthcare, and consumer electronics. As a result, there is considerable market potential for manufacturers of wireless charging ICs to meet the surging demand and drive innovation in this space.

Threat:

Competition from established wired charging solutions

Wired charging solutions are already widely adopted and offer fast and reliable charging capabilities. Many consumers and industries may be hesitant to switch to wireless alternatives due to concerns about compatibility, charging speed, and reliability. Additionally, the existing infrastructure for wired charging is extensive, making it challenging for wireless charging to gain widespread acceptance rapidly.

Covid-19 Impact:

The COVID-19 pandemic initially disrupted the wireless charging ICs market due to supply chain disruptions and decreased consumer spending on non-essential devices. However, the market eventually rebounded as remote working and increased reliance on electronic devices accelerated demand for wireless charging solutions. Additionally, the shift towards contactless technologies further boosted the adoption of wireless charging ICs in various industries.

The receiver ICs segment is expected to be the largest during the forecast period

Receiver ICs play a crucial role in wirelessly receiving power from transmitters, enabling devices to charge efficiently. With the increasing adoption of wireless charging in smartphones, wearables, and other consumer electronics, the demand for receiver ICs is expected to soar. Additionally, advancements in receiver IC technology, such as improved efficiency and compatibility, further contribute to its market leadership position.

The high power segment is expected to have the highest CAGR during the forecast period

In the wireless charging ICs market, the high-power segment is projected to experience the highest CAGR during the forecast period. This growth is driven by the increasing demand for fast and efficient charging solutions, particularly in industries such as automotive and consumer electronics. Moreover, high-power wireless charging ICs offer faster charging speeds and are capable of charging larger devices, such as electric vehicles and laptops, thus catering to the evolving needs of consumers and industries.

Region with largest share:

North America is positioned to sustain its leadership in the wireless charging ICs market due to several factors. The region benefits from strong technological innovation, robust infrastructure, and widespread adoption of smart devices across various sectors. Additionally, increasing investments in electric vehicle infrastructure and the presence of key market players contribute to North America's dominance. Furthermore, supportive government initiatives and favorable regulations regarding wireless technology adoption further enhance the region's competitiveness in the global market landscape.

Region with highest CAGR:

Asia Pacific is poised for rapid growth in the wireless charging ICs market. The region is home to major manufacturing hubs and a burgeoning consumer electronics market, driving demand for wireless charging solutions. Additionally, increasing smartphone penetration, the adoption of electric vehicles and government initiatives supporting renewable energy and technology innovation further contribute to the market's expansion. Moreover, the presence of key players and ongoing technological advancements in countries like India, China, Japan, and South Korea fuel market growth in the region.

Key players in the market

Some of the key players in Wireless Charging ICs Market include Analog Devices, Broadcom Inc., Dialog Semiconductor, indie Semiconductor, Infineon Technologies, MediaTek, NXP Semiconductors, ON Semiconductor, Panasonic Corporation, Power Integrations, Qualcomm Technologies, Renesas Electronics Corporation, ROHM Semiconductor, Samsung Electronics, Semtech Corporation, STMicroelectronics, TDK Corporation, Texas Instruments and Vishay Intertechnology.

Key Developments:

In June 2023, indie Semiconductor, an Autotech solutions innovator, has launched an integrated automotive wireless power charging system-on-chip (SoC) that offers the industry's highest level of integration. The iND87200 simplifies and accelerates the development of cost-effective WPC 'Qi'-based in-cabin portable device charging designs.

In May 2023, Infineon Unwraps Wireless Power Transmitter IC for up to 50 W Charging. Released in time for PCIM Europe, the new chip's integrated approach is aimed at enabling easier and more-cost-efficient wireless charging designs. The WLC1150 transmitter features include flexible thermal management options, low EMI, integrated adaptive foreign object detection (FOD), and more.

Types Covered:

• Transmitter ICs
• Receiver ICs

Components Covered:

• Power Management Unit
• Oscillator
• Rectifier
• Other Components

Power Ratings Covered:

• Low Power (<5W)
• Medium Power (5W-15W)
• High Power (>15W)

Coupling Technologies Covered:

• Inductive Charging
• Capacitive Charging
• Radio Frequency (RF) Charging

Applications Covered:

• Consumer Electronics
• Automotive
• Healthcare
• Industrial
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
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• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances