Wired Charging Global Market Report 2024

Wired charging involves the use of a cable that plugs into the electronic device needing charging, and it transfers power from a power source. A typical charger consists of two parts: a plug that connects to an electrical outlet and a head that attaches to the device being charged. This method utilizes a cable to transfer power and is employed to charge various electronic products, including consumer electronics, electric vehicles, and other electronic devices.

The primary types of wired charging include Type C, micro-USB, lightning, and others. Type C wired chargers are specifically designed for faster charging, offering quicker charging times for devices. USB Type C is known for its ability to charge smartphones two or three times faster than USB 3.0 chargers and facilitates fast data transfer. Wired charging is categorized into standard and fast charging, and these chargers are available through online and offline sales channels. This charging method is predominantly used in automotive, consumer electronics, smartphones, tablets, healthcare devices, and other applications.

The wired charging market research report is one of a series of new reports that provides wired charging market statistics, including wired charging industry global market size, regional shares, competitors with an wired charging market share, detailed wired charging market segments, market trends and opportunities, and any further data you may need to thrive in the wired charging industry. This wired charging 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.

The wired charging market size has grown strongly in recent years. It will grow from $13.93 billion in 2023 to $14.63 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth observed in the historic period in wired charging can be attributed to factors such as the proliferation of smartphones, widespread adoption of consumer electronics, the expansion of electric vehicle charging infrastructure, urbanization and increased mobility, and the integration of wireless charging technologies. These factors collectively contributed to the growth of wired charging during the historic period.

The wired charging market size is expected to see strong growth in the next few years. It will grow to $18.02 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The anticipated growth in the forecast period in wired charging can be attributed to factors such as the integration of wired charging with smart home systems, the development of a fast charging ecosystem, the increasing electrification of transportation with a focus on wired charging infrastructure, initiatives promoting green technology, and the demand for high-performance devices, especially in the gaming sector. Major trends expected in the forecast period include advancements in fast charging technology, the widespread adoption of USB Power Delivery (USB-PD) standards, the prevalence of USB Type-C connectivity, increased integration with Internet of Things (IoT) devices, and the ability to charge multiple devices simultaneously.

The wired charging market is experiencing growth due to the increasing demand for the installation of charging stations. Wired charging, conducted through cables, is utilized to charge various devices, including consumer electronics, electric vehicles, healthcare products, and personal care items. The growing environmental awareness has led to a preference for electric vehicles, driving the demand for charging infrastructure that relies on wired charging. For example, the Society of Manufacturers of Electric Vehicles reported that as of March 2021, India had 1,800 charging stations, and to meet the demand for 2 million electric vehicles on roads by 2026, an estimated 400,000 charging stations would be required. Therefore, the rising demand for charging station installations is anticipated to boost the wired charging market.

The wired charging market is expected to be fueled by the increase in electronics production. Electronics, dealing with the behavior and control of electrons, relies on wired charging as a common method to replenish battery energy or power devices through physical cables or connections. According to Electronics Weekly, U.S. electronic production witnessed over 8% growth in November 2020, increasing to 8.7% in January 2021. This rise in electronics production contributes to the growth of the wired charging market.

A prominent trend in the wired charging market is technological advancements and the launch of sophisticated products. This includes the introduction of advanced chargers with mobile applications for charging management, along with features like fast charging and device compatibility. Key players focus on launching technologically advanced chargers to gain a competitive edge. For instance, Palo Alto partnered with Smartenit to introduce a smart grid-optimized Level 1 mobile EV cable with features like automatic off-peak charging schedules to reduce expenses. This exemplifies the trend of technological advancements in the wired charging market.

Major companies in the wired charging market are introducing innovative charging series to elevate the charging experience. Innovative charging series comprise cutting-edge solutions for powering and recharging electronic devices. MOMAX, Ltd., a Hong Kong-based company, launched the 'Flow' series, featuring magnetic wireless charging technology, sleek designs, and GaN technology-supported travel chargers. This series aims to set a new trend in the fusion of technology and culture, enhancing the charging experience for Apple users worldwide.

In January 2022, ABB, a Sweden-based provider of EV charging infrastructure, service, and software solutions, acquired a controlling stake in InCharge Energy, strengthening its position in the US market for EV charging solutions. The acquisition also supports sustainable fleet electrification. InCharge Energy Inc., based in the US, specializes in electric vehicle commercial charging infrastructure solutions.

Major companies operating in the wired charging market include ABB Ltd., AOYAMA Elevator Co. Ltd., Apple Inc., Dell Technologies Inc., Delta Electronics Inc., Amazon.com Inc., Anker Innovations Limited, AUKEY, Belkin International Inc., Cable Matters Inc., Duracell Inc., Energizer Holdings Inc., Griffin Technology LLC, Hama GmbH & Co KG, SDI Technologies Inc., Incipio LLC, JBL International Ind., Just Wireless, Monoprice Inc., mophie LLC, Native Union Design Limited, Nekteck Inc., Koninklijke Philips N.V., Pisen Electronics Co. Ltd., RAVPower Inc., Samsung Electronics Co. Ltd., Scosche Industries Inc., Sony Corporation, Targus Group International Inc., Ugreen Group Limited, Ventev Innovations LLC, XtremeMac

Asia-Pacific was the largest region in the wired charging market in 2023. The regions covered in the wired charging analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the wired charging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The wired charging market consists of sales of type-A, type-B, and mini-USB . 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.

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.


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