Wireless Charging Market Size, Share, Growth Analysis, By Charging Type(Stationary Wireless Charging Systems, Dynamic Wireless Charging Systems), By Component(Base Charging Pads, Power Control Units, Vehicle Charging Pads), By Charging System(Magnetic Resonance Charging, Inductive Charging, Capacitive Charging), By Application(Home Charging Units, Commercial Charging Stations), By Power Supply Range(UP TO 3.7 KW, ABOVE 3.7-7.7 KW, ABOVE 7.7–11 KW, ABOVE 11 KW), By Vehicle Type(Passenger Cars, Passenger Cars, Commercial Vehicles (Electric Buses, Electric Vans), By Propulsion(Battery Electric Vehicles, Plug-in Hybrid Electric Vehicles), By Region - Industry Forecast 2024-2031

Wireless Charging Market size was valued at USD 5.20 Billion in 2022 and is poised to grow from USD 6.44 Billion in 2023 to USD 23.80 Billion by 2031, at a CAGR of 23.80% over the forecast period (2024–2031). 

Wireless Charging Market providers need to focus on maximizing their business scope by reaching into new markets and developing wireless charging for different industrial and personal uses. Raising new capital to fund their R&D and business expansion efforts will be essential for new wireless charging companies going forward. The development of custom robots for specific applications across different industry verticals will also help companies expand their sales potential in the future.    'Qualcomm Incorporated (US)  ', 'Samsung Electronics Co., Ltd. (South Korea)  ', 'Apple Inc. (US)  ', 'Texas Instruments Incorporated (US)  ', 'Broadcom Inc. (US)  ', 'Toshiba Corporation (Japan)  ', 'Energizer Holdings, Inc. (US)  ', 'Sony Corporation (Japan)  ', 'Panasonic Corporation (Japan)  ', 'Powermat Technologies Ltd. (Israel)  ', 'NXP Semiconductors N.V. (Netherlands)  ', 'Murata Manufacturing Co., Ltd. (Japan)  ', 'WiTricity Corporation (US)  ', 'ConvenientPower HK Limited (Hong Kong)  ', 'ZTE Corporation (China)  ', 'Powercast Corporation (US)  ', 'PowerSphyr Inc. (US)  ', 'Ossia Inc. (US)  ', 'Energous Corporation (US)  ', 'Plugless Power LLC (US)  ', 'Semtech Corporation (US)  ', 'Renesas Electronics Corporation (Japan)  '

Wireless charging offers convenience of simply placing the device on the dedicated charging pad and eliminates the hassle of cables for consumers. This easy usage is one of the major drivers for the adoption of wireless charging technology. Furthermore, as consumers increasingly prefer devices and products that minimize clutter, the demand for wireless charging is growing. 

Integration with Smart Grids: The incorporation of wireless charging with intelligent grids is demonstrating a dynamic charging service. By using real-time data on grid availability and energy demand, electric mopeds or two-wheelers can better use renewable and clean energy sources, contributing to environment-friendly urban mobility. 

Region-wise, North America held the majority share of the market in the past years and is expected to continue dominance over the forecast period as well owing to advancements in technologies and a strong consumer electronics market. Well-developed nations like Canada and the United States are hubs for innovation and technology. Companies in these regions are leading with the adoption of modernizing and developing new technologies like wireless charging technology. The market in the region is also propelled by higher demand for consumer electronics including electric vehicles, which benefits from the said technology. The key market players operating in North America include Qualcomm Inc., Energous Corporation, Fulton Innovation LLC, WiTricity Corporation, Texas Instruments Incorporated, and more.