South Korea Induction Charger Market to Reach USD 59 Million by 2030, Growing at a CAGR of 13%

South Korea Induction Charger Market to Reach USD 59 Million by 2030, Growing at a CAGR of 13%

The South Korea Induction Charger Market is on a growth trajectory, driven by advancements in wireless charging technologies and increased adoption across consumer electronics, automotive, and other sectors. With global technology leaders like Samsung Electronics and LG Corporation spearheading innovations, the market is poised to expand significantly during the forecast period.

Market Overview

Induction chargers use electromagnetic induction to enable wireless energy transfer between a charging pad and compatible devices. This innovative technology eliminates the need for physical connectors, offering convenience and efficiency. The market's growth in South Korea is fueled by its strong tech ecosystem and the rising adoption of wireless-enabled devices like smartphones, wearables, and electric vehicles (EVs).

According to a study by Next Move Strategy Consulting, the South Korea Induction Charger Market is projected to reach USD 59 million, growing at a CAGR of 13% by 2030.

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Key Drivers of Market Growth

  1. Technological Leadership:
    Companies like Samsung and LG are driving innovation in wireless charging, offering cutting-edge solutions like the Samsung Wireless Charger Duo and Pad.
  2. Rising E-Commerce Industry:
    The robust e-commerce sector in South Korea, which is growing at an annual rate of 22.5%, is making wireless charging solutions more accessible to tech-savvy consumers.
  3. Shift Toward Electric Vehicles (EVs):
    The push for EV adoption is bolstering the demand for induction chargers in automotive applications.
  4. Standardization of Wireless Charging:
    The introduction of Qi v2.0 is expected to enhance charging speeds and compatibility, encouraging widespread adoption.

Challenges

While the market shows promise, challenges include the widespread adoption of USB Type-C wired chargers, which offer faster charging and cost-effectiveness. Additionally, the lack of public wireless charging infrastructure remains a barrier to growth.

Opportunities

The launch of the Qi v2.0 standard, with features like magnetic attachment and enhanced efficiency, presents a significant opportunity for growth. Key players like Apple and Belkin are already aligning their product portfolios to meet the new standards, further accelerating market expansion.

Market Segmentation

By Power Output:

  • 5W to 15W
  • 16W to 30W
  • Above 30W

By Charging Standard:

  • Qi Standard
  • AirFuel

By Distribution Channel:

  • E-Commerce or Online
  • Offline

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Competitive Landscape

Prominent players in the South Korea Induction Charger Market include:

  • Samsung Electronics Co. Ltd.
  • Apple Inc.
  • Anker Innovations Technology Co. Ltd.
  • Belkin International, Inc.
  • Xiaomi Corporation
  • Huawei Technologies
  • ASUSTeK Computer Inc.
  • ZAGG INC.
  • Energizer Holdings, Inc.
  • Aukey Corporation Limited

Conclusion

The South Korea Induction Charger Market is set to grow significantly, fueled by technological advancements, rising consumer demand, and a supportive ecosystem led by global players. With innovations like Qi v2.0 and the expansion of e-commerce, the market is well-positioned to thrive, contributing to the evolution of wireless charging technology.

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Next Move Strategy Consulting

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About Next Move Strategy Consulting:

Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicates as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

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