Dan's Biz Bookshelf: 'Move Your Bus'
Driving Innovation: Direct Imaging vs. Conventional Exposure
It’s Only Common Sense: Selling to Today's Generation of Buyers
Global Wireless Charging Market to Reach $20.97 Billion by 2023
January 18, 2019 | PRNewswireEstimated reading time: 1 minute
The global wireless charging market is anticipated to reach $20.97 billion by 2023, registering a compound annual growth rate of 40.97% between 2018-2023, according to a new market intelligence report by BIS Research, titled 'Global Wireless Charging Market - Analysis and Forecast, 2018-2023'. In 2017, the wireless charging market was valued at $2.57 billion.
The growth in global wireless charging market can be attributed to the increased shipments of smartphones, smartwatches and other wearable devices, global standardization of regulations for wireless charging, and increased in-built wireless charging options in various applications such as furniture and in-vehicles. The rising demand for convenient and fast-charging solutions' and tremendous progress in the Research & Development (R&D) for wireless charging technologies to overcome the current technical challenges are expected to drive the global market for wireless charging during the forecast period, 2018-2023.
A noteworthy reason for the global wireless charging market to grow is the Qi standard for wireless technology, established by the New Jersey-based World Power Consortium (WPC, established in 2008, a 250-company membered multinational technology consortium), is rapidly gaining momentum. The establishment of a globally acknowledged standard, i.e., Qi, and its acceptance by the prominent players, such as Apple Inc., and Samsung Electronics Co. Ltd. (who have launched their devices that are Qi standard enabled), which is in fact, a big boost for the entire wireless charging market, as a global standard of certification attracts consumers to the market.
"Smartphones and other consumer electronics are among the early adopters of wireless charging technology, courtesy convenience of this technology, among other reasons. Additionally, the wireless charging technology has tremendous potential for the automotive sector. Additionally, the recent hike in the demand of electric vehicles and favorable government initiatives are factors propelling the demand of wireless charging in the global market", says Yash Agrawal, Senior Analyst, BIS Research.
Share on:
Suggested Items
2025 ASEAN IT Spending Growth Slows to 5.9% as AI-Powered IT Expansion Encounters Post-Boom Normalization
06/26/2025 | IDCAccording to the IDC Worldwide Black Book: Live Edition, IT spending across ASEAN is projected to grow by 5.9% in 2025 — down from a robust 15.0% in 2024.
DownStream Acquisition Fits Siemens’ ‘Left-Shift’ Model
06/26/2025 | Andy Shaughnessy, I-Connect007I recently spoke to DownStream Technologies founder Joe Clark about the company’s acquisition by Siemens. We were later joined by A.J. Incorvaia, Siemens’ senior VP of electronic board systems. Joe discussed how he, Rick Almeida, and Ken Tepper launched the company in the months after 9/11 and how the acquisition came about. A.J. provides some background on the acquisition and explains why the companies’ tools are complementary.
United Electronics Corporation Advances Manufacturing Capabilities with Schmoll MDI-ST Imaging Equipment
06/24/2025 | United Electronics CorporationUnited Electronics Corporation has successfully installed the advanced Schmoll MDI-ST (XL) imaging equipment at their advanced printed circuit board facility. This significant technology investment represents a continued commitment to delivering superior products and maintaining their position as an industry leader in precision PCB manufacturing.
Insulectro & Dupont Host Technology Symposium at Silicon Valley Technology Center June 25
06/22/2025 | InsulectroInsulectro, the largest distributor of materials for use in the manufacture of PCBs and printed electronics, and DuPont, a major manufacturer of flex laminates and chemistry, invite fabricators, OEMS, designers, and engineers to attend an Innovation Symposium – Unlock the Power - this Wednesday, June 25, at DuPont’s Silicon Valley Technology Center in Sunnyvale, CA.
OKI, NTT Innovative Devices Establish Mass Production Technology for High-Power Terahertz Devices by Heterogeneous Material Bonding
06/21/2025 | BUSINESS WIREOKI, in collaboration with NTT Innovative Devices Corporation, has established mass production technology for high-power terahertz devices using crystal film bonding (CFB) technology for heterogeneous material bonding to bond indium phosphide (InP)-based uni-traveling carrier photodiodes (UTC-PD) onto silicon carbide (SiC) with excellent heat dissipation characteristics for improved bonding yields.