Wireless Charging ICs Market by By Product (Transmitters, Receivers), Power Range (Low (51 Watt)) & Region - Forecast to 2021 - 2031

2021 Analysis and Review: Wireless Charging ICs Market by Application – Automotive, Consumer Electronics, and Healthcare for 2021 – 2031

Market Snapshot

As per latest wireless charging ICs industry analysis by Future Market Insights (FMI), overall demand will total US$ 2.1 Bn in 2021. Registering impressive growth at 16.7% CAGR from 2021 to 2031, market valuation is expected to surpass US$ 9.7 Bn by 2031.

FMI reports that global wireless charging ICs generated revenue of US$ 1.8 Bn in 2020. In terms of value, the receivers are identified as fastest-growing product segment, estimated to register the highest CAGR of 17.6% over the next ten years.

Detailed Insights Offered in Wireless Charging ICs Industry Research:

  • Market Estimates and Forecasts 2016-2031
  • Key Drivers and Restraints Impacting Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Wireless charging ICs Industry and How to Navigate
  • Recommendation on Key Winning Strategies

2016-2020 Wireless Charging ICs Demand Analysis Compared to 2021-2031 Market Outlook

Wireless charging ICs will continue exhibiting soaring growth through 2021 with worldwide revenue up by 15.8% year-over-year. A revised report by Future Market Insights (FMI) estimates that wireless charging ICs revenue will increase at a significant rate, reaching nearly US$ 9.7 Bn by 2031, at a CAGR of 16.7%.

There are different types of chargers available in the market for various products such as charging bowls, charging pads and charging boxes. As the technology is continuously growing, manufacturers are focusing on introducing innovative applications and investing a good amount of money in manufacturing common wireless chargers for different products.

Various projects which are aimed at developing innovative wireless chargers will further make these chargers suitable for charging multiple devices simultaneously. Thus the market is anticipated to grow at a significant rate over the forecast period.

How Are Government Initiatives Improving the Adoption of Wireless Charging ICs?

Several initiatives are taken by various governments worldwide for wireless charging of electric vehicles to preserve the environment and drive the adoption of wireless charging ICs. Urban mobility’s future is autonomous, connected, electric and wireless.

As electric and hybrid vehicles are running on streets of many countries, the semiconductor industry is working on the next big thing- wireless electric vehicle charging.

For instance, in January 2020, the U.K. Transport Secretary announced its plans to invest £3.4 million in trials for wireless charging of electric taxis in Nottingham city.

This example has served as the best alternative for charging points and plugs. It is also expected to increase the adoption of electric vehicles which will lead to improve air quality in towns and cities of the country. Due to such factors, the market will grow during the forecast period.

How are Portable Devices Increasing Demand for Wireless Charging ICs?

Wireless charging or wireless power transfer is portable and easy to use. It comes with some obvious benefits in convenience and improvement in safety for small devices. Since the company Apple introduced wireless charging in 2017, the mode of operation has become the norm for charging devices wirelessly. Several smartphone companies have launched new cell phones with wireless charging capabilities.

Also, medical devices and watches are adopting wireless charging technology as there is no room for a connector. Cameras and headsets are adding wireless charging features for ease of use.

Due to the increase in demand for wireless charging in portable devices, key players are looking into wireless power transfer. This is expected to drive the market of wireless charging ICs in upcoming years.

Which Factors Are Affecting the Adoption Of Wireless Charging ICs?

One of the major factors restraining the growth of the market is the difficult communication between the transmitter and receiver in higher power designs. The communication between receiver and transmitter is enabled through in-band communication in the WPC (Wireless Power Consortium) Qi standard.

But at higher power levels, harmonic distortions occur in AC signals, which results in an increasingly difficult communication between the transmitter and receiver and package loss. This needs to be addressed to enable a reliable operation of high-power wireless charging.

The market share of the wireless charging ICs in terms of applications varies in key regions. The above figure shows the view of market share in the key regions including, North America, Europe, South Asia & Pacific, East Asia, Middle East & Africa, and Latin America.

On the basis of application, the consumer electronics industry segment holds the largest share of the wireless charging ICs due to the preferring adoption of wireless devices among end users. In addition to this, wireless charging plays an important role in improving patients’ quality of life and user experience. Thus, increasing demand for wireless charging ICs in the healthcare industry will drive the market’s growth.

Country-wise Insights

How Big is the Opportunity for Wireless Charging ICs Adoption in the U.S.?

The U.S. is predicted to remain one of the most lucrative markets during the forecast period. According to the report, the overall wireless charging ICs spending in the U.S. alone is likely to increase by 13.6% between 2021 and 2031, with a market value of US$ 330 Mn in 2021.

The U.S. is on the verge of testing wireless charging highways. Roads in the country, which are built with magnetised cement, can be used for developing roads for wireless charging of electric vehicles battery.

This will be done with the collaboration of The Indiana Department of Transportation (INDOT) of the United States and Purdue University. They are working with Magment, a German company to use tarmac material for wireless charging of electric cars.

In addition, the country has also deployed 800 Qi-enabled charging spots from the company named, Verizon at major airports. Such factors are continuously helping the demand to grow in U.S.

Why is Demand for Wireless Charging ICs increasing in United Kingdom?

Demand in U.K. is expected to rise at nearly 16.4% CAGR over the forecast period (2021-2031). The U.K. is home to breakthrough technologies and has a booming semiconductor industry. The country is ramping up investment in semiconductor products development for building local supply chains to modernise the consumer electronics sector.

Apple, the multinational technology company cut the price of its iPhone XR in the country and due to this, shipments of mobile and tablets with wireless charging technology grew by 365% in the 4th quarter of 2019. All these smartphones were in the price range of $401-to-$600.

In turn, the penetration rate for smartphones with wireless charging technology reached 58.7% , at 16 million units within the US$401-to-US$600 price segment. On the back of these aforementioned factors, the wireless charging ICs demand in the U.K. will witness a healthy growth rate over the forecast period 2021-2031.

How is Japan Contributing Towards Sales of Wireless Charging ICs?

The market in Japan is anticipated to be valued around US$ 829 Mn by 2031. By 2031, Japan will account for over 35.7% of share in East Asia. Japan's semiconductor market is one of the largest in the world. It is a major player in the production of semiconductors due to the presence of key players.

Researchers from the University of Tokyo introduced a new system, which is capable of charging electronic devices such as smart watches and smartphones wirelessly. Engineers have developed this system with a flexible power transfer sheet, which can be cut in different shapes as per requirement and it can charge electronics devices wirelessly.

In addition, the country has planted countless Qi chargers from a company named, DoCoMo in airports and train stations. Such initiatives are contributing to growth of market in Japan.

Category-wise Insights

Which Product of Wireless Charging ICs Will Enjoy Higher Demand in Near Future?

Demand for wireless charging IC receivers is expected to show surge at a CAGR of 17.6% for the forecast period 2021 to 2031, according to Future Market Insights (FMI).

Original equipment manufacturers (OEMs) are continuously developing smartphones that are fully compatible with any Qi-compliant charging base as wireless power receiver ICs take an incoming AC supply from the receiving coil and convert it into regulated DC supply voltage for use in the smartphones. Qi technology, infrared (IR) based technologies, and radiofrequency (RF) are gaining popularity by the day.

Wireless receivers offer wide-array of benefits such as high flexibility, improved efficiency, and compact design for smart phone and tablet user. Thus, growing application of wireless charging receivers in smart Phones and tablets with Qi Technology is fueling the growth of market.

Why does Medium Power Range Segment Hold Lead?

Medium range power segment is expected to contribute maximum revenue share of more than 48.0% in 2021 and is expected to grow at a robust CAGR of 16.8%. Wireless charging ICs with more than 15W wireless power receivers are used in high power applications like laptops, power tools, network devices and drones for enabling quick and convenient charging on the go.

Wireless power receivers are capable of delivering up to 60W power in a single chip. It makes them suitable for a wide variety of battery-powered applications. Advanced telemetry and proprietary charging protocols are delivered by these ICs for high-power applications.

These devices provide powerful and cost-effective solutions for high performance, smart, and secure wireless charging for a 20 W robot, 60W drone and others. Owing to these factors, the market of wireless charging ICs is expected to grow at a significant rate.

What’s the Market Share of Consumer Electronics Application Segment in Wireless Charging ICs?

The consumer electronics application segment is expected to hold major share of the market close to 52.0% in 2021, and create an incremental opportunity of around US$ 3.9 Bn by 2031.

Manufacturers of wireless charging devices or ICs are reducing cable usage for users to charge home appliances. This makes devices such as electric toothbrushes, earphones, notebooks, and smartphones free from being tethered to a wall. Traditionally, wireless power transfer was limited to low-power and small devices.

Now many companies are adopting wireless charging capabilities to a wider range of higher-powered devices in consumer electronics. ICs with more than 15W wireless charging are opening doors for high-power devices such as computer tablets, battery-powered tools, laptops, automatic vacuum cleaners and kitchen equipment.

Thus, the growing demand for wireless charging in the area of consumer electronics will help the market to grow in the forecast period.

Competitive Landscape

According to the Future Market Insights (FMI)’s industry analysis

  • NXP Semiconductors
  • Qualcomm Inc.
  • Renesas Electronics Corporation
  • Analog Devices Inc.
  • Texas Instruments Inc.

are identified as key providers of wireless charging ICs.

Key providers of wireless charging ICs are focusing on adding new innovative capabilities into their current cyber security solutions which helps them to upgrade their wireless charging ICs portfolio.

  • For instance, in January 2019, ROHM announced the development of an automotive wireless charging solution with integrated NFC communication. This solution combined ROHM’s automotive-grade (AEC-Q100 qualified) wireless power transmission control IC (BD57121MUF-M) with STMicroelectronics' NFC Reader IC (ST25R3914) and 8-bit microcontroller (STM8A series).

Leading players of wireless charging ICs are also focusing on entering into partnerships with other tech players in the market to enhance and upgrade their cyber security solutions portfolio. This strategy not only helps company to enhance their current services but also enable them to expand their business at global level.

  • For instance, in November 2020, NXP Semiconductors collaborated with Amazon Web Services (AWS) to extend connected vehicle opportunities. This collaboration whelped in delivering a secure, edge-to-cloud compute solution for next generation vehicles.

Wireless Charging ICs Market Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Million for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, ASEAN, Australia & New Zealand, GCC Countries, Turkey, and South Africa

Key Market Segments Covered

Product,  Power Range, Application, and Region

Key Companies Profiled

  • NXP Semiconductors
  • Renesas Electronics Corporation
  • ROHM CO., LTD.
  • Semiconductor Components Industries, LLC
  • Qualcomm Inc.
  • Texas Instruments
  • Analog Devices, Inc.
  • Vishay Intertechnology, Inc.
  • Toshiba Corporation
  • WiTricity Corporation
  • Powercast Corp
  • PLUGLESS POWER INC
  • Semtech Corporation
  • MediaTek Inc.

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

FAQs Answered in Report

  • What much is the global market size of wireless charging ICs?

    The global wireless charging ICs market was valued at US$ 1.8 Bn in 2020, and is estimated to surge over the next ten years.

  • Which region is expected to showcase significant growth in the wireless charging ICs industry?

    The market in South Asia & Pacific is projected to expand at the highest CAGR of 19.0% through 2031.

  • Which is the most attractive product of wireless charging ICs?

    Wireless charging IC transmitters is the most attractive segment, accounting for market share of over 58%. However, demand for wireless charging ICs receivers segment is estimated to surge at a CAGR of 17.6%.

  • What is the market share of leading companies offering wireless charging ICs?

    NXP Semiconductors, Texas Instruments Inc., Analog Devices Inc. and ON Semiconductor, among others are some of the leading companies in this space. Over 55.0% of market share is currently covered by the top 15 players.

  • In which application are wireless charging ICs highly integrated? 

    The consumer electronics application segment is expected to dominate the market generating revenue of US$ 4.9 Bn by 2031.

  • What is the sales forecast for wireless charging ICs?

    The market size of wireless charging ICs is expected to reach a valuation of US$ 9.7 Bn by 2031.

  • What was the last 5 year’s market CAGR for sales of wireless charging ICs?

    The market in the last 5 years (2016 – 2020) expanded at a CAGR of 15.2%.

  • What are the key trends impacting growth of wireless charging ICs?

    Rising adoption of wireless technology and increasing government initiatives are some major coming trends in the wireless charging ICs market.

  • Which are the top 5 countries driving demand for wireless charging ICs?

    Top 5 countries driving demand for Wireless charging ICs include the U.S., Germany, India, China, and France.

  • What is the North America market outlook for wireless charging ICs?

    North America is the most attractive market, with the U.S. expected to account for 63.7% share in 2021.

  • What are the key market statistics for Japan and South Korea in wireless charging ICs?

    Japan and South Korea were valued at US$ 128.0 Mn and US$ 91.5 Mn, respectively, in 2020, and are projected to surge at CAGRs of 18.5% and 20.0% through 2031.

Wireless Charging ICs Industry Survey by Category

By Product:

  • Transmitters
  • Receivers

By Power Range:

  • Low (<15 Watt)
  • Medium (16-50 Watt)
  • High (>51 Watt)

By Application:

  • Automotive
  • Consumer Electronics
  • Healthcare
  • Others

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