Summary
Major players in the wireless charging ic market are NXP Semiconductors, Broadcom Corporation, Toshiba Corporation, Semiconductor Components Industries LLC, Qualcomm Inc., Texas Instruments Inc., ROHM Semiconductor, Vishay Intertechnology Inc., Analog Devices Inc., MediaTek Inc., Integrated Device Technology Inc., Infineon Technologies AG, STMicroelectronics, and Semtech.
The global wireless charging IC market is expected to grow from $2.86 billion in 2022 to $3.48 billion in 2023 at a compound annual growth rate (CAGR) of 21.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The wireless charging IC market is expected to grow to $7.37 billion in 2027 at a CAGR of 20.6%.
The wireless charging IC market consists of sales of wireless charging IC used for radio charging, inductive charging, and resonance charging.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Wireless charging, commonly referred to as wireless power transfer, is a method of electrically recharging battery-operated devices such as laptops, cellphones, and electric cars without the need for a cable connection.It is used in electromagnetic waves to wirelessly charge gadgets and transfer energy.
Wireless charging ICs include precise power supply, tiny size, compact design, and lightweight operation.
Asia-Pacific was the largest region in the wireless charging IC market in 2022. The regions covered in the wireless charging IC market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The major types of wireless charging ICs are receiver ICs and transmitter ICs.A receiver IC is a circuit that receives signals from a transmission medium, which could be wired or wireless, and decodes or converts them into a format that can power nearby circuits.
The power ranges involve low range, medium range, and high range in various applications such as smartphones, tablets, medical devices, wearable electronic devices, and others that are used in several industry verticals such as consumer electronics, automotive, IT and telecommunications, oil and gas, mining, healthcare, and others.
The higher penetration of smartphones and smartwatches is expected to propel the growth of the wireless charging IC market going forward.A smartwatch is a type of wearable device that looks like a wristwatch or other type of timepiece, whereas a smartphone is a mobile phone with computer features that allow users to send and receive emails, access the internet, and communicate with other computerized systems.
Numerous electronics, including smartphones, smartwatches, wearables, computers, and others, can be charged wirelessly.The market is expected to grow as wireless charging of smartphones and smartwatches necessitates the use of wireless charging IC.
For instance, according to a report published by Uswitch Limited, a UK-based online and telephone comparison, and switching service, in 2022, 71.8 million mobile connections were active. There will be 68.3 million people living in the UK by 2025, and 95% of them will have smartphones in their hands. Therefore, higher penetration of smartphones and smartwatches fuels will drive the growth of the wireless charging IC market.
Technological advancements have emerged as a key trend gaining popularity in the wireless charging IC market.Major companies operating in the wireless charging IC market are focused on developing advanced technologies and solutions to strengthen their position in the market.
For instance, in October 2021, Spark Connected, a US-based wireless power technology firm, launched The Beast 2.0, which is an automotive in-cabin wireless charging solution with TDK’s (TDK Corporation, a Japan-based electronics corporation) newest pattern coil technology. The new Beast 2.0 is a Qi v1.3-compliant 15-watt car in-cabin wireless charging solution. With continuous charging even during vehicle stop/start events, it offers a wide input supply range, and improved user safety features such as Foreign Object Detection.
In August 2021, Renesas Electronic Corporation, a Japan-based semiconductor company, acquired Dialog Semiconductor Plc for an undisclosed amount.The acquisition extends Renesas’ leadership position in the world for providing embedded solutions for the rapidly expanding IoT, industrial, and automotive markets.
Dialog Semiconductor Plc is a US-based manufacturer of semiconductor-based system solutions.
The countries covered in the wireless charging IC market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The wireless charging IC market research report is one of a series of new reports that provides wireless charging IC market statistics, including wireless charging IC industry global market size, regional shares, competitors with a wireless charging IC market share, detailed wireless charging IC market segments, market trends and opportunities, and any further data you may need to thrive in the wireless charging IC industry. This wireless charging IC market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
