The Latin America, Middle East and Africa Wireless Charging IC Market would witness market growth of 22.9% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Wireless Charging IC Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $291.9 million by 2031. The Argentina market is showcasing a CAGR of 23.6% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 21.5% during (2024 - 2031).
Advancements in wireless charging technology, such as faster charging speeds, improved energy efficiency, and enhanced power transmission capabilities, have made the technology more attractive to consumers and manufacturers. Innovations such as resonant inductive charging, which extends the charging distance between the device and charger, have also expanded the range of applications for wireless charging.
These ICs are increasingly integrated with other advanced technologies, such as smart home systems, IoT devices, and automotive platforms. This integration allows for the development of seamless, interconnected ecosystems in which devices can automatically charge when placed on a charging pad or within a specific range of a power transmitter.
The rising manufacturing sectors in South Africa and the UAE’s strategic investments in healthcare have significant implications for the growth of this market in both countries. The strong production of electrotechnical equipment in South Africa, valued at over R90 billion annually, fosters an atmosphere favorable to the development of wireless charging solutions. In the UAE, the government’s commitment to healthcare, highlighted by the allocation of 8.4% of the 2022 federal budget to the sector, creates a demand for cutting-edge medical devices and technologies. As healthcare is a priority under UAE’s Vision 2040, wireless charging solutions are becoming increasingly important in developing medical devices, such as wearables, diagnostic tools, and monitoring equipment, all of which benefit from the convenience and efficiency of wireless charging. Thus, the combined impact of South Africa’s electronics manufacturing and the UAE’s focus on healthcare innovation positions both countries as key markets for the growth of the wireless charging IC industry.
Free Valuable Insights: The Worldwide Wireless Charging IC Market is Projected to reach USD 13.72 Billion by 2031, at a CAGR of 20.2%
Based on Component, the market is segmented into Receiver ICs, and Transmitter ICs. Based on Power Range, the market is segmented into Medium (5W-15W), High (15W and above), and Low (up to 5W). Based on Application, the market is segmented into Consumer Electronics, Automotive, Healthcare, Industrial, and Other Application. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Component
By Power Range
By Application
By Country
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