Wireless Charging Market to Hit $13.4 Billion by 2026

According to www.marketsandmarkets.com, the wireless charging market will reach $4.5 billion in 2021 despite the COVID-19 impact. It is also predicted that the wireless charging market will expand at a CAGR of 24.6% between 2021 and 2026 and hit $13.4 billion by 2026. This growth can lead wireless technology to adopt in consumer electronics heavily.

From 2021 to 2026, consumer electronics can occupy the largest market share of the wireless charging market. Smartphones, tablets, laptops, wearables, personal digital assistance (PDAs), and gaming consoles are such consumer electronics that are skyrocketing in demand. 

It’s the popular trend in the Asia Pacific region in a reaction to change consumer lifestyle preferences. The expansion of internet users and the urban population is the reason to adopt such a trend. Due to this consumer behavior, manufacturers of consumer electronics have been producing wireless charging products heavily.

The perfect example for this is the launch of the Warp Charge 30 by OnePlus to support wireless charging in the OnePlus 8 series. OnePlus announced it in April 2020. The company has created a Warp wireless direct charging architecture. It allows a real-time bridge between and among the smartphone and wireless charger and the customized chip.

While many companies had been manufacturing wireless chargers, some others focused on eco-friendly wireless chargers. The first-ever eco-friendly wireless charger was introduced in 2019. It was an Xpad from PlusUs made of Italian leather, real timber veneer, or cork. Xpad could accommodate all smartphone sizes and was a perfect wireless charger for any home or work setting.

Using eco-friendly materials, PlusUs separated the circuit board from the charging pad and introduced a 2.2mm wireless pad that was 75% thinner than other pads. Arash Shakibaee, head of Product Development, had said, “A thin, flexible wireless charger is only possible after the structure and the electronics are reimagined frequently and re-engineered.”

Wireless chargers work through smart chip technology that detects Qi-compatible devices and delivers the charging. On the concept of sustainability, Solgaard also launched eco-friendly wireless chargers. With the launch of its eco-friendly wireless charging ecosystem on Kickstarter, HomeBase, Solar Juicepack, and Solar Boombox received the 300% of the funding within twelve hours. 

HomeBase provides a high-tech solution for charging a variety of consumer electronic devices wirelessly. It boasts of charging two smartphones and up to four devices at once. With the updated charging system, HomeBase includes Solar Boombox, a wireless charging device premium Bluetooth speaker with backup solar recharging capabilities.

Furthermore, multiple companies have started to manufacture eco-friendly wireless chargers made from natural and eco-friendly materials. Such a trend has been observed in wheat straw wireless chargers and bamboo wireless chargers. 

. 

These days, 10W wheat straw wireless chargers for promotionals are getting top on the market. These chargers are made of a natural wheat fiber mixed with ABS that helps to promote eco-friendly wireless chargers. Compatible with Qi wireless technology, they support the latest Android devices, including iPhone 8 and up.

The bamboo wireless chargersalso feature Qi wireless technology that helps the charger connect to the latest Android version handsets, including iPhone 8, 8S, and X. In this category, Bamboo X 5W Wireless Charger is growing popular nowadays. It is made of bamboo and fabric with a blend of Hemp 40%, 30% Organic cotton, and 30% recycled PET. Besides, the bamboo chargers also come with 10 W accordingly, which has helped other superior smartphones charge in an eco-friendly manner.  

Along with wireless chargers, manufacturers also have brought eco-friendly speakers. While observing the recent trend, Frenzy Wheat Straw Bluetooth Speaker is booming. It is made of 51% wheat straw and looks natural. It’s claimed that the Bluetooth speaker is certified by FSC. Besides, this eco-friendly Bluetooth speaker claims to produce sound for over 1.5 hours at maximum volume.

To promote environmental protection, bamboo speakers also are coming to the market. They are either speakers or amplifiers at a low cost. The portability and low cost of bamboo fires have made the bamboo speakers growing in the market.

With all eco-friendly chargers and speakers, the wireless charging market has been dominated by North America. Having several market players, including Qualcomm, Plugless Power, Energizer, and WiTricity, in the region made it possible for North America to hold a large portion of the world market. 

Due to the advancement increase in consumer electronic products, the automotive sector, and medical devices, manufacturers have been investing heavily in wireless charging. A good example of this is that WiTricity has spent $34 million along with AirWave Wireless Electricity and a strategic investment from Mitsubishi Corporation.

There are several recent developments in wireless charging, which are responsible for extending the wireless charging market worldwide. In October 2019, there was a deal between WiTricity Corporation and Green Power in a technology transfer and licensing agreement. This agreement allowed Green Power to have an advantage from the reference as well as new technology designs of WiTricity’s wireless electric vehicle charging systems.

Integrated Device Technology (IDT), a subordinate of Renesas Electronics Corporation, launched the P9415-R wireless power receiver in September 2020 and the WattShare technology from Renesas Electronics Corporation. This wireless power receiver enables devices such as smartphones, power banks, and portable medical equipment to charge wirelessly.

The next recent achievement is the launch of the next-generation Cota 2.4 GHz platform from Ossia Inc in November 2020. This approval was made by the Federal Communications Commission to install the technology in the commercial, industrial, and residential sectors. Moreover, many advantages, such as higher transmitter efficiency and enhanced manufacturability, are possible through wireless power platforms. Besides, the cost-effective design, lightweight and thinner form, lower power consumption are the additional leverages. 

Wireless charging, or so-called inductive charging, has been popular in recent years. Nearly 5.9 million wireless charging patents had been filed in 2019, which IPlytics reported in November 2020. In the case of revenue, the wireless charging market collected $3.82 billion worldwide in 2018, and the figure has been growing continuously.