Wireless Charging Market - Industry Analysis, Size, Share, Growth,COVID-19 Impact Analysis, Trends and Forecast – 2023
Wireless Charging market is still in the growth phase and new applications are coming in the picture every day. For the purpose of this report, Market Research Future has bifurcated the application segment into consumer electronics, Industrial, Infrastructure, and Automotive among others. Consumer electronics segment accounts for the largest market share in the year 2016. High demand for the consumer electronic products such as smartphones, tablets, wearable devices among others are the major driving factor for the growth of the consumer electronics segment. Smartphones segment accounts for highest market share in the year 2016.
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Increasing disposable income around the world is leading to the high expenditure on the electronic products which includes purchase of smartphones and wearable devices. Growing demand of smartphones around the world, especially in Asia Pacific is one of the major driving facto which is supporting the market of smartphone wireless charging.
The Global Wireless Charging market is expected to get high growth in coming years. Huge demand of smartphones, developing market for electric vehicles, growth in semiconductor industry, and developing market of IoT are some factors driving the market growth during forecast period 2016-2023. However, high cost and compatibility issues are some of the factors hampering the market growth.
Samsung Electronics Co Ltd. (South Korea), Texas Instruments Inc. (U.S.), NXP Semiconductors (Netherlands), Qualcomm Inc. (U.S.), Integrated Device Technology, Inc. (U.S.), Powermat Technologies Ltd (Israel), WiTricity Corporation (U.S.), PowerbyProxi (New Zealand), TDK Corporation (Japan), and Convenient Power HK Limited (China) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Wireless Charging Market.
December 2017 – PESI, a South Korean designer studio, has introduced a range of furniture and homeware products integrated with wireless charging supported by electromagnetic induction technology. These products are available in two forms namely composition and on the surface. On the surface products includes flat wireless charging surface and desktop items such as container, clock, mirror, and speakers. Whereas, composition products includes wireless charging surface which can be customize with wood and acrylic elements.
December 2017 - Dan Bus Company, an Israel transit service company, has announced of investing around USD 2.2 million in wireless technology to deploy electric power sources on the regular roads of the country. These electric roads would be capable of providing power to vehicles from the road using conduction coils which provide charging power through magnetic induction.
October 2017 – PowerSphyr, a global provider of wireless power technology products and solutions, acquired Gill Electronics, a wireless power & charging device designer. Gill Electronics is one of the prominent manufacturer of resonant magnetic systems deployed with Airfuel, and FCC approved products. With this acquisition, the PowerSphyr is expected to produce wireless charging solutions enabled with resonant magnetic solutions.
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Wireless Charging Global Market- Competitive Analysis
Wireless Charging market appears to be competitive in the coming years owning to the presence of numerous large players active in regional market. Samsung Electronics, TDK Corporation, Qualcomm Inc., Texas Instrument Inc., and Integrated Device Technology Inc. are some of the companies leading the wireless charging market globally. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Wireless Charging Global Market- Segmentation
The Wireless Charging Market can be classified into 4 key segments as follows:
Segmentation by Technology: Inductive Coupling and Capacitive Coupling
Segmentation by Components: Transmitters and Receivers
Segmentation by Application: Consumer Electronics (Smartphones, Tablets, Wearable Device), Industrial, Infrastructure, and Automotive.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
Wireless Charging Global Market- Regional Analysis
Asia Pacific is dominating the market of wireless charging due to advancement and high demand for consumer electronic products such as Smartphones, Tablets and wearable devices. Asia Pacific accounts for more than 35% of global population and most of the Asian countries are still in development phase creating high demand for the electronic equipment’s. China and Japan are supporting the supply of wireless charging solution whereas countries these countries are also making huge consumption of these products along with India, South Korea and Taiwan. North America followed by Europe has expected to hold second and third position respectively in the global wireless charging market.
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