Global Wireless Charging Market Analysis & Forecast (2018-2023): Focus on Applications, Components, Technology, Implementation & Geography
Wireless charging has been around for a long time – in 1891 itself, a Siberian-American engineer and physician Nikola Tesla demonstrated the powering of an electric bulb without using wires. Modern day wireless charging is based on the technology of electromagnetic induction, the same technology that is used to power different devices, such as smartphones, electric toothbrush, wearable devices, and kitchen appliances. The growing demand for a convenient charging solution and developments in the smartphone industry has propelled the growth for wireless charging and companies operating in different spaces such as healthcare, consumer electronics, automotive, and commercial sector have shown interest in wireless power transfer.
Wireless charging means eliminating the use of wires to power devices. The wireless charging technology enables a battery-powered device to be automatically charged when placed near a transmitter. Wireless charging, which has witnessed significant developments in the past three years, has advantages that offer a huge potential for the wireless charging industry. Moreover, adoption of Qi (pronounced as chee) standard by the majority of the companies across the globe has been a significant boost for the wireless charging industry. Further, owing to the establishment of specific standards and extensive adoption the smartphone and wearable devices market, wireless charging technology is bound to expand into other sectors such as healthcare, aerospace, and defense as well in the coming years.
The demand for wireless charging varies in different regions. The wireless charging market holds a prominent share in countries of North America, Asia-Pacific (APAC), Europe, and Rest-of-the-World (RoW). Region-wise, North America led the global wireless charging market in 2017 in terms of value. APAC region, however, is estimated to witness the highest growth in this market during the forecast period,2018-2028. The growth of the wireless charging market in the APAC region is attributed to the widespread adoption of Qi standard for wireless charging and increased shipments of smartphones, smartwatches and other wearable devices. Additionally, wireless charging infrastructure for Electric Vehicles (EVs) is another factor w expected to propel the growth in this region.
The global wireless charging market has witnessed several strategic and technological developments in the past few years, undertaken by different market players in their attempt to attain their respective market shares. Some of the strategies that the companies conduct and that are covered in this report are product launches, partnerships and collaborations, and mergers and acquisitions. The preferred strategy for the companies has been partnerships and collaborations that help them strengthen their positions in the global wireless charging market.
The key market players in the global wireless charging market are Aircharge, Belkin International, Inc., Convenient Power Limited, Energous Corporation, Integrated Device Technology, Inc., Infineon Technologies AG, NXP Semiconductors, NuCurrent Inc., Powermat Technologies Ltd., Qualcomm Incorporated, Samsung Electronics Co. Ltd., Semtech Corporation, TDK Corporation, Texas Instruments, and WiTricity Corporation among others.
The BIS report ""Global Wireless Charging Market - Analysis and Forecast, 2018-2023, is a compilation of different segments of global wireless charging market including the market breakdown by implementation type, technology, region, and applications. The report further details market dynamics and the competitive landscape and profiles key participants of the industry.
The report answers the following questions on the global wireless charging market:
- What will be the global wireless charging market value by 2023 and the market’s estimated CAGR
- What are the driving factors for the global wireless charging market from 2017 to 2023
- Which factors are impeding the growth of the global wireless charging market
- What are the trends and developments in the global wireless charging market
- What is the wireless charging market outlook by the implementation (integrated or aftermarket) during the forecast period, 2018-2023
- Which receiver application will be leading the global receiver market by 2023
- Which transmitter application will be leading the global receiver market by 2023
- Which region will be leading the global wireless charging market by 2023
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