The global wireless charging market has grown by 27% this year from $9.58 billion last year (13.7 trillion KRW). It is expected to grow at a CAGR of 30% and reach $34.77 billion (49.7 trillion KRW) in 2026.
According to market research company ReportLinker, the global wireless charging market is expected to reach $12.26 billion this year (17.55 trillion KRW).
The wireless charging market encompasses technologies and components that transmit power from a power outlet to a device without a physical connection cable.
From home appliances to smartphones, mobile devices, electric vehicles, and energy equipment, use for wireless charging have increased which translates to market expansion. Recently, new applications such as medical, defense, and aviation are also appearing.
As of last year, North America was the largest region in the wireless charging market. During the forecast period, Asia Pacific is projected to be the fastest growing region.
The largest segment of the wireless charging market is smartphones. The increase in smartphone sales is driving the expansion of the wireless charging market.
Wireless charging companies are implementing next-generation wireless charging technologies, such as electromagnetic induction, automation, radio frequency wave, near-field wave, and capacitive wireless technology, into their products to improve charging speed and usability.
ReportLinker explains, “Technological innovation is a key trend that is gaining popularity in the wireless charging market. The major players operating in the market are focusing on providing technologically advanced wireless charging solutions to strengthen their market presence.”
By Staff Reporter So-ra Park srpark@etnews.com