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The overall wireless charging market is expected to be valued at USD 4.5 billion in 2021 and projected to reach USD 13.4 billion by 2026, at a CAGR of 24.6% between 2021 and 2026.
The growth of the wireless charging market is attributed to the rising adoption of wireless technology in consumer electronics; an increase in sales of electric vehicles, and the ability to charge multiple devices. However, compatibility issues restrict the adoption of wireless charging in various industries.
The market for transmitters to grow at higher CAGR during the forecasted period.
Wireless transmitters are used as standalone wireless charging devices, while receivers are built into the electronic devices. Companies manufacturing transmitters are investing heavily to innovate their wireless charger product portfolios. Moreover, the NXP Semiconductor provides a 15W wireless charging IC that offers broad controller function