Global Wireless Charging Market was valued US$ XXBn in 2019 and is expected to reach US$ XXXBn, during the forecate period at a CAGR of XX% by 2027.
Wireless charging is becoming an important prevalent market in consumer electronics such as samrtphones, wirless earbuds and wearables along with increasing service in public spaces across the world. Wireless chargers further continued to gain popularity after first launch of Nokia 920, first ever smartphone with builts-in Qi wireless charging capability. After, companies like Powermat and Powerless had chargeres in over 1500 loctions in U.S and 1000 location in Europe in 2013, such as airports, hotels, restaurants and cafes.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Furthermore, consumers value and incresed convinence gave wireless a new age in numerous electronic products across the globe for example, in action camera (GoPros), fitness trackers (fitbits), etc. Various companies currently offer wireless charging in smartphones, which includes Apple, Samsung, Sony, LG, Nokia, Huawei, Microsoft, Google and Blackberry.
There is also a surge for laptops, the first laptop to adapt this technology was Dell’s Latitude 7285 launched in 2018. Additionally, 18 car brands currently offer wireless charging as a standard option or and additional add-on. Secondly, technological advancement in wireless chargers has changed in the past decade considering consumer need and adaptability. There are three different technologies used which are inductive magnetic resonant and radiofrequency.
Wireless charging is not new concept in today’s market and with an increase in disposable income around the world consumers are shifting towards smart and convenience to have a better lifestyle. Smartphones, MP3 players, Media tablets, Powe tools, Bluetooth headsets, Shaver’s, Portable video game system, Two-ways radios, Baby monitors, Home security systems and others in electronics are expected to have XX% share compared to other segments in given report. This percentage gives a brife idea about the market dynamics with appropriate assumptions carried based on past analysis of the wireless charging market. Taking battery chargers energy use of around the globe, the expected usage of wireless battery by 2027 is much higher and represent XX% to XX% adoption in smartphones, 40 to XX% use in electric cars, XX% use in electronics.
U.S analysis and energy used (TWhy/yr) by wireless devices by 2019 was more for Smartphones and Media Tablets, which is followed by electric bicycles, electric scooters, and golf carts. Considering the energy consumption and analysis of baseline across the world, the estimated value is calculated based on electricity used by all the devices which use regular wired electricity considering the baseline of data of production and adaptation in different regions. In developing market trends of electric vehicle and infrastructure development wireless charging in vehicles is expected to boost the market.
Drivers and Restraint:
Wireless charging have many advantages like protected connection, it is always safe to use electric devices, which are enclosed and no risk of electrical faults e.g., short circuit, etc. Secondly, low infection risk in medical devices, as power transmission via a magnetic field passing through the skin avoids the infection risk associated with wires penetrating the skin. Durability of device as there are less wear and tear on the socket of any device.
Further it increases convenience and aesthetic quality, automated high power inductive charging are some of the benefits of wireless chargers and are helping it to grow.
There are some disadvantages in wireless charging market and are observed and studied i.e., for less than 100 watts power, and are not applicable for high power battery greater than 5 Kilowatts. Disadvantages like slower charging, more expensive, inconvenience, compatible standards and inefficiency are the limits of some models and are considered in MMR report.
Wireless charger are very popular in North America, even series of furniture from Ikea have wireless charging points that support the Qi standard. North America is expected to gain market for more 2 years, meanwhile, Asia Pacific is expected to takes over wireless electronics market, thanks to popularity, advantages of wireless charging, population, disposable income, low price and many key players interested in investment. Europe also shows great demand for electric battery charging points as many countries are shifting towards sustainable development. Latin America and Middle East show stagnant growth in electronic and medical devices.
• Three cutting-edge charging technologies of HUAWEI – 40W HUAWEI SuperCharge, 15W quick wireless charging, and reverse wireless charging – have received security certifications from TUV Rheinland, providing users with rapid and safe charging.
• On September 12, 2018 Apple removed most mentions of the AirPower from its website and on March 29, 2019 it cancelled the product completely.
• In 2018 the German company Blue Inductive presented a 3KW wireless charging system for industrial application such as AGV charging. The system claims to have the best efficiency in class of an overall transfer efficiency of >92%.
• January 2019: Volvo Group‘s subsidiary Volvo Group Venture Capital announced investment in U.S.-based wireless charging specialist Momentum Dynamics.
The objective of the report is to present a comprehensive analysis of Global Wireless Charging Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Wireless Charging Market dynamics, structure by analysing the market segments and project the Global Wireless Charging Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Wireless Charging Market make the report investor’s guide.
Key Players in the Wireless Charging Market Are:
• Energizer Holdings, Inc
• Convenientpower HK Limited
• Integrated Device Technology
• Murata Manufacturing Co. Ltd
• Leggett & Platt, Incorporated
• Powerbyproxi Ltd.
• Qualcomm Incorporated
• Powermat Technologies Ltd.
• Texas Instruments Incorporated
• Witricity Corporation
Key Target Audience:
• Electronic design vendors
• Wireless power enabled device manufacturers and supplier
• Battery providers and manufacturers
• Research institutes and organizations
• Government bodies, venture capitalists, and private equity firms
• Market research and consulting firms
• Enterprise data center professionals
The scope of the Wireless Charging Market:
Research report categorizes the Wireless Charging Market based on technology, transmission range, application, and geography (region wise). Market size by value is estimated and forecasted with the revenues of leading companies operating in the Wireless Charging Market with key developments in companies and market trends.
Wireless Charging Market, By Technology:
• Radiation Technology
• Inductive Technology
• Other Technologies
Wireless Charging Market, by Transmission Range:
• Short Range
• Medium Range
• Long Range
Wireless Charging Market, By Application:
• Consumer Electronics
Wireless Charging Market, By Geography:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
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