Description
global Wireless Charging Market
Product overview
The process of recharging batteries from a power source to a consuming device without any physical contact is referred to like wireless charging. It comprises of an electric current which is passed between objects through coils to induce an electromagnetic field that charges the battery. Wireless charging provides an efficient, convenient, reliable, cost-effective, and safer charging of devices over the traditional physical cable charging method.
Market Highlights
Global Wireless Charging Market size was valued at USD 11 billion in 2019 and is estimated to grow at a CAGR of 45.8% from 2020 to 2030. Features such as ease of handling devices, mobility, electric shock protection, flexibility, convenience, and efficiency are most likely to contribute to the growth of this market. The increase in the demand for fuel-efficient electrical vehicles is also anticipated to be a growth driver in the market.
Recent Highlights in Global Wireless Charging Market
Qualcomm Technologies collaborated with Integrated Device Technology, Inc. for developing a highly integrated wireless charging solutions with up to 30W for use in flagship smartphones powered by Qualcomm Snapdragon 5G mobile platforms.
Murata launched a new LoRa-based module suitable for a wide range of high-volume applications where small size, long-range, extended battery life, and security is required.
Renesas Electronics teamed up with Panthronics AG to bring best-in-class solutions integrating Renesas wireless charging technology and Panthronics NFC technology.
Integrated Device Technology, Inc. launched the P9222-R wireless power receiver which is optimized for wireless charging cases used to charge earbuds, hearing aids, and other small, battery-powered consumer devices.
Global Wireless Charging Market: Segments
Global Wireless Charging Market can be segmented on the basis of application, technology, and regions.
By application, it can be further categorized into consumer electronics, medical, healthcare, automotive, industrial, and defense. Consumer electronics are likely to dominate the application segment in the forecasted period due to the high demand for wireless smartphones in the market.
On the basis of technology, the wireless charging market is segmented as Inductive, Resonant, Radiofrequency, and others. Inductive technology holds high demand in the market due to its universal application. Resonant technology is used by companies such as Qualcomm and Samsung that allows charging multiple devices simultaneously and is likely to take over inductive technology by the forecasted period.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
Global Wireless Charging Market: Drivers and Restraints
Mobility, Flexibility, and efficiency will act as growth drivers
Features such as ease of handling devices, mobility, electric shock protection, flexibility, convenience, and efficiency, contribute to the growth of this market. The increasing demand for power for devices and the problem of carrying multiple chargers are a key driver in this market. Additionally, an increase in the internet of things is also boosting the demand for wireless charging. It is also expected to rise in electrical vehicles with the government taking measures to switch consumers to electric hybrid cars.
Inefficiency and high prices will restrict the growth of the global wireless charging market
Inefficiency in fast charging and high prices of wireless chargers are key challenges of the market. It does not provide efficient charging while in the distance which acts as a restraint in the market. Another cause is the expensive technology and slower charging rates which hinders the growth of the market and is likely to be fixed in the upcoming years.
Global Wireless Charging Market: Regions
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
The APAC emerges as the global leader in the wireless charging market recording a market share of 38% in the year 2018 due to the high demand for electronic devices such as laptops and smartphones. Whereas North America and Western Europe are also expected to witness significant growth over the years due to the growing preference of consumers and the pace of buying quality products in the market. On the other hand, developing countries such as China, India, and Japan hold the maximum number of electronics manufacturers which is going to foster the market because of the rising demand for electrical vehicles and charging systems for portable electronic gadgets.
Global Wireless Charging Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Global Wireless Charging Market: Key players
Samsung Electronics Co.
Business Strategy
Key Product offerings
Financial performance
Key Performance Indicators
Risk Analysis
Recent Development
Regional Presence
SWOT Analysis
Qualcomm Incorporated Inc.
Integrated Device Technology Inc.
Fulton Innovation LLC
Powermat Technologies Ltd.
WiTricity Corporation
Energizer Holdings Inc.
Murata Manufacturing Co. Ltd.
Sony Corporation
Texas Instruments
Global Wireless Charging Market report also contains analysis on:
Global Wireless Charging Market segments:-
By technology :
Inductive
Resonant
Radiofrequency
others
By application :
consumer electronics
medical
healthcare
automotive
industrial
defense
Global Wireless Charging Market dynamics
Global Wireless Charging Market size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
FAQs on Global Wireless Charging Market
Which segment is anticipated to hold the largest market share?
At what CAGR is the market anticipated to grow between 2020 and 2030?
Who are the key players in the Global Wireless Charging Market?
What could be the challenging factors for the growth of Global Wireless Charging Market?
What are the growth drivers for the Global Wireless Charging Market?
Related Reports: Global Wireless Charging for Electric Vehicle Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030
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