Distance Wireless Charging Market by Technology (Magnetic Resonance, Inductive, Radio Frequency, and Others), and Application (Consumer Electronics, Healthcare, Automotive and Others)- Global Opportunity Analysis and Industry Forecast 2024-2030

Market Definition

The Distance Wireless Charging Market size was valued at 1.28 billion in 2023, and is predicted to reach 7.57 billion by 2030 with a CAGR of 28.9% from 2024-2030.

Distance wireless charging is a technology that enables electronic devices to be charged wirelessly from a distance, without the need for cables or physical contact between the device and the charging station. This technology uses electromagnetic fields to transfer power wirelessly between the charging station and the device. This allows users to charge their devices without the inconvenience of having to plug them in or worry about the proximity of the charging station. This has the potential to revolutionize the way we interact with technology, making it convenient and flexible for users.

Market Dynamics and Trends

The distance wireless charging market is driven by the increasing adoption of IoT devices, such as sensors, medical devices, and others. These devices require batteries for power, which can be a challenge in terms of maintenance and replacement. Distance wireless charging technology provides a convenient solution by allowing these devices to be charged wirelessly from a distance, eliminating the need for physical contact or frequent battery replacements.

Moreover, the growth of the electric vehicle industry around the globe significantly boosts growth of the market. Distance wireless charging technology allows electric vehicles to be charged wirelessly, avoiding the requirement of physical charging stations and cables.

This has made charging convenient and accessible for electric vehicle owners and reduces the need for expensive infrastructure upgrades. According to the International Energy Agency, electric car sales reached a record high in 2021, sales nearly doubled over to 6.6?million bringing the total number of electric cars on the road to 16.5?million compared to 2020.

Furthermore, adoption of smart home devices such as thermostats, security cameras, and smart speakers are becoming increasingly popular, and many of these devices require batteries for power. Distance wireless charging technology provides a convenient and efficient way to power these devices wirelessly, eliminating the need for frequent battery replacements, which in turn drives the growth of the market. This saves consumer’s time and money, as well as reduces the environmental impact of disposable batteries.

However, high implementation cost associated with installation of distance wireless charging infrastructure restrains growth of the market. On the other hand, integration of AI (Artificial Intelligence) in distance wireless charging is expected to create ample growth opportunities for the market in the future. AI improves efficiency and reliability of wireless charging systems by optimizing charging process and reducing energy waste.

Market Segmentation and Scope of Study

The global distance wireless charging market is segmented on the basis of technology, application, and region. Based on technology, it is categorized into magnetic resonance, inductive, radio frequency, and others. Based on application, the market is segmented into consumer electronics, healthcare, automotive, and others. Geographical breakdown and analysis of each of the aforesaid classifications include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America dominates the global distance wireless charging market and is potently expected to remain dominant throughout the forecast period.  This is attributed to increase in adoption of IoT devices in countries such as the U.S and Canada.

For instance, in 2022, the projected count of Internet of Things (IoT) devices exceeded 13 billion, surpassing the global population and highlighting the rise in interconnectedness of technology. IoT devices use low-power wireless technologies such as Bluetooth or Wi-Fi to communicate with other devices and the internet. These devices have small batteries and relatively low power requirements making it possible to charge these devices using distance wireless charging technologies.

Moreover, growth in popularity of wearables such as smartwatches and fitness trackers further propels demand for distance wireless charging in North America. Wearables require frequent charging, and distance wireless charging can offer a convenient and efficient charging solution for these devices.

According to the National Centre of Biotechnology Information, around 30% of US adults use wearable healthcare devices. Among these users, nearly half use the devices every day, with a majority willing to share the health data from wearables with their care providers.

On the other hand, Asia-Pacific is expected to witness a substantial growth in the global distance wireless charging market, owing to growth in the consumer electronics industry in countries such as China and Japan, along with integration of wireless chargers in consumer electronics, which propels distance wireless charging market. Distance wireless charging technology is being used in consumer electronics as a convenient and efficient alternative to traditional charging methods.

With distance wireless charging, users can simply place their devices on a charging pad or dock, without the need for cables or physical contact with the charging port. According to the Semiconductor Industry Association as of July 2021, China is the world’s largest manufacturing hub, producing 36% of the world’s electronics including smartphones, computers, cloud servers, and telecom infrastructure.

Moreover, growth in the electric vehicle industry in Asia-Pacific further propels growth of the distance wireless charging market in the region. Rise in adoption of electric vehicles also accelerates demand for convenient and efficient charging solutions. Distance wireless charging technology, which allows for wireless charging of electric vehicles without the need for physical contact also seems a promising solution to meet this growing demand.

According to the Japan Automobile Dealers Association (JADA), sales of new electric vehicles in 2020 reached close to 1.4 million. However, 97.8% of the new electric vehicle sold in 2020 were HEVs, followed by PHEVs 1.1%, BEVs 1.1% and FECVs 0.1%.

Competitive Landscape

The distance wireless charging market includes several market players such as Xiaomi Corporation, Energous Corporation, Ossia Inc., Wi-Charge Ltd., Archos S.A., among others. These market players are adopting various strategies including product launches, partnerships, and new innovations to maintain their dominance in the global distance wireless charging market.

For instance, in January 2023, Energous Corporation announced the demonstration of their over-the-air wireless charging technology and WattUp-powered partner products at the Consumer Electronics Show. The showcase emphasizes Energous' commitment to advancing the field of distance wireless charging and its potential impact on various industries.

Also, in January 2023, Energous Corporation partnered with SATO Holdings Corporation to develop joint solutions that combine Energous’ 1W WattUp PowerBridge transmitters with IoT solutions for next-generation smart store applications. This partnership opens up new possibilities for wirelessly charging devices from a distance, eliminating the need for traditional wired charging methods. 

Moreover, in January 2021, Xiaomi launched Mi Air Charge technology, which can charge multiple devices simultaneously and will recharge a smartphone that’s being used, while walking around or even when something’s in the way.

Key Benefits

• The report provides quantitative analysis and estimations of the distance wireless charging market from 2024 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep-dive analysis of the distance wireless charging market including the current and future trends to depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on the distance wireless charging market is provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Key Market Segments

By Technology 

• Magnetic Resonance

• Inductive

• Radio Frequency

• Others

By Application  

• Consumer Electronics

• Healthcare

• Automotive

• Others

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe    

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia Pacific

• Rest of the World

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION:

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