North America Wireless Charging Market Size is Projected To Exhibit Growth Rate 15.1% CAGR During 2023-2028

North America Wireless Charging Market Size is Projected To Exhibit Growth Rate 15.1% CAGR During 2023-2028

IMARC Group, a leading market research company, has recently released a report titled “North America Wireless Charging Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the North America wireless charging market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the North America Wireless Charging Market?

The North America wireless charging market size reached US$ 4,510.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 10,433.6 Million by 2028, exhibiting a growth rate (CAGR) of 15.1% during 2023-2028.

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Factors Affecting the Growth of the North America Wireless Charging Industry:

  • Technological Advancements in Wireless Charging:

The growth of the North America wireless charging market is significantly influenced by technological advancements in this field. Innovations such as faster charging speeds, the development of extended-range wireless charging, and the integration of wireless charging systems into various consumer and industrial products are driving market expansion. These technological enhancements not only improve user convenience but also broaden the applicability of wireless charging in sectors like automotive, healthcare, and consumer electronics. For instance, the automotive industry is increasingly adopting wireless charging for electric vehicles, which is a key growth driver. Additionally, the development of standards and protocols for wireless charging ensures compatibility and safety, further bolstering market growth.

  • Increasing Adoption of Wireless Technology and IoT:

The proliferation of wireless technology and the Internet of Things (IoT) in North America is another critical factor driving the wireless charging market. As more devices become interconnected and rely on wireless communication, the demand for convenient and efficient charging solutions escalates. This trend is evident in the growing number of smart homes and offices equipped with wireless charging infrastructure. The integration of wireless charging into public spaces and commercial establishments also reflects this trend. Furthermore, the increasing consumer preference for wireless accessories, such as smartwatches, fitness trackers, and wireless headphones, boosts the demand for wireless charging solutions, thereby contributing to market growth.

  • Supportive Government Policies and Environmental Concerns:

Government initiatives and environmental concerns play a significant role in shaping the wireless charging market in North America. Governments in the region are increasingly promoting the adoption of energy-efficient and environmentally friendly technologies, including wireless charging systems. Incentives and regulations aimed at reducing carbon emissions are encouraging industries to adopt sustainable practices, which include wireless charging for electric vehicles and other battery-powered devices. This shift towards sustainability is not only a response to regulatory pressures but also aligns with the growing consumer awareness and demand for eco-friendly products and services. As a result, these factors collectively contribute to the robust growth of the wireless charging market in North America.

North America Wireless Charging Market Report Segmentation:

Breakup by Technology:

  • Inductive Charging
  • Resonant Charging
  • Radio Frequency Based Charging
  • Other

Inductive charging dominated due to its widespread adoption in consumer electronics for its safety, convenience, and compatibility with numerous devices.

Breakup by Transmission Range:

  • Short Range
  • Medium Range
  • Long Range

Short range wireless charging led the market primarily because it is the most developed and commonly used technology in everyday devices like smartphones and wearables.

Breakup by Application:

  • Consumer Electronics
  • Automotive
  • Healthcare
  • Industrial
  • Defense
  • Others

Consumer electronics held the largest segment owing to the high demand for wireless charging in smartphones, tablets, and wearable devices, which are integral to daily life.

Breakup by Country:

  • United States
  • Canada
  • Mexico

The United States emerged as the largest market, driven by high consumer spending power, rapid adoption of advanced technologies, and the presence of major market players in the region.

North America Wireless Charging Market Trends:

The increasing adoption of smartphones, wearables, and electric vehicles has created a burgeoning demand for convenient and efficient charging solutions. Moreover, the proliferation of smart homes and IoT devices has further fueled the need for wireless charging to eliminate the hassle of cords and cables. The advancements in wireless charging technology, such as faster charging speeds and longer-range capabilities, have enhanced user experience and driven consumer interest. The strong emphasis on eco-friendliness and sustainability has led to the integration of wireless charging in various industries, including automotive and consumer electronics, making it a compelling market segment with substantial growth potential in North America.

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Other Key Points Covered in the Report:

  • COVID-19 Impact
  • Porters Five Forces Analysis
  • Value Chain Analysis
  • Strategic Recommendations

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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