- Annual unit shipments for wireless power receivers and transmitters, across all applications, sectors and product segments, are forecast to grow from 450 million units in 2017 to more than 2.2 billion units in 2023.
- To gauge the size of the opportunity available in the total market, cumulatively more than 6 billion receiver units and 2.7 billion transmitter units are expected to ship from 2018 to 2023.
- Nearly 31 million wireless-charging-enabled wearable devices shipped in 2017. Shipments of wireless charging-enabled medical devices (consumer segment) are expected to grow to approximately 13 million units in 2023, mainly driven by the hearing aids market.
- In terms of unit shipments, the top three receiver applications for 2017 were smartphones, wearables (e.g., smart watches) and personal care appliances (e.g., electric toothbrushes).
After Apple’s decision to adopt induction-based (Qi-based) wireless charging technology for its iPhones in 2017, the interest among other wireless power solution providers has drifted away from mobile phones to other segments, in search of new opportunities. The decision Apple made during its recent keynote event in September 2018 not to mention anything about its AirPower wireless charging system, may have dampened consumer and market enthusiasm and slowed the adoption growth rate of wireless charging technology across applications. However, wireless power transfer technology companies are now pursuing opportunities across wearables, medical devices and the automotive electric vehicles (EVs) segment.
Regarding the share of technology, low-frequency induction-based solutions will continue to be the largest volume market through 2023. The long-awaited first resonance technology-based mobile phones have still not been commercially launched in the market. However, interest among companies working on resonance-based technology has remained high in anticipation of challenges mobile phone companies are facing by adopting the current induction-based solution.
During 2019, a wider range of applications and product segments are expected to launch in the market. They will adopt uncoupled solutions, using either radio-frequency (RF) or infra-red (IR) technology. Multi-frequency solutions fit convenience-led applications, like mobile phones and smart watches, and they are expected to gain market share within the next four years. Automotive (EV charging) is another sector that gained attention across a wide profile of wireless power solution providers.
The wireless power/charging market is set to become mainstream, as adoption is gaining beyond mobile phones. This market is set to witness robust demand in the coming years.
Wireless Power Market Tracker
The “Wireless Power Market Tracker” is a quarterly tracker that provides detailed analysis and market updates of around five applications selected each quarter. Each report includes 2-year historical trends, a 10-year annual forecast; key market trends, analysis and insights, market drivers and barriers, technology trends and wireless power solutions.