As per a new market research report published by Factor & Equilibrium (www.factorandequilibrium.com), “Wireless Charging Market – Global Industry Insights Market Size, Estimation and Growth Forecast By Technology (Inductive, Resonant, Radio Frequency and Others), By Application (Automotive, Consumer Electronics, Industrial, Aerospace & Defense, Healthcare and Others), & By Regions, 2017-2025” is expected to reach USD 43.32 Billion by 2025 in terms of revenue. In 2016, the market was valued USD 2.82 Billion in terms of revenue.
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The wireless charging market is expected to grow at an exponential rate during 2017 to 2025. In wireless charging, a receiver (integrated inside an electronic device or other devices) receives energy without wires or cables from charging station. This received energy is the utilized to charge the battery. Wireless charging provides multiple benefits such as convenience in using owing to elimination of requirement of physical connectors, safety and low life cycle cost. Wireless charging is gaining usage in electric vehicles, wearable devices and portable electronics owing to aforementioned benefits. In addition, rising demand of radio frequency (RF) wireless charging in low power devices is also fuelling the growth of the market. Owing to such benefits, demand for wireless charging is expected to grow at rapid pace during the forecast period.
Rising application of wireless charging in consumer electronics has been boosting the growth of the market
Based on technology, global wireless charging market has been segmented into inductive, resonant, radio frequency and others. Others technology include infrared lasers and microwave radiation. As of 2016, inductive held the largest share in the market, accounting for more than 42% of wireless charging market size. In inductive technology, alternating magnetic field is converted into electrical current which charges the battery. Wide application of inductive technology based wireless charging in wearable devices and electric vehicles are driving the growth of the market.
In terms of revenue, inductive was the largest technology segment for wireless charging market in 2016
Based on application, the market has been segmented into automotive, consumer electronics, industrial, aerospace & defense, healthcare and others. As of 2016, in terms of revenue, consumer electronics held the largest share, accounting for more than 30% of wireless charging market size. Increasing applications of wireless charging in wearable devices, portable electronic devices and micro electric gadgets are boosting the growth of consumer electronics segment. Growing usage of consumer electronics having wireless charging facilities in research sector has also created future growth opportunity for the market.
In terms of revenue, consumer electronics was the largest application for wireless charging market in 2016
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By region, the global wireless charging market has been segmented into five regions; North America, Europe, Asia Pacific (APAC), Latin America and Middle East and Africa (MEA). In 2016, Asia Pacific occupied the largest revenue share of the global wireless charging market, accounting for more than 31%. The large market share in Asia Pacific can be attributed to growing usage of wireless charging in electric vehicles, booming consumer electronics sector and growing usage of wireless charging in healthcare sector.
Asia Pacific occupied the largest revenue share of the wireless charging market
Leading Player Mapping
Some major players in the market are: Samsung Electronics Co. Ltd. (South Korea), Texas Instruments Inc. (The U.S.), Integrated Device Technology (The U.S.), Qualcomm Technologies (The U.S.), Energizer Holdings, Inc. (The U.S.),WiTricity Corporation (The U.S.), Powermat Technologies Ltd.(Israel), Sony Corporation (Japan), Murata Manufacturing Company, Ltd. (Japan) and Fulton Innovation LLC (The U.S.) among others.
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The market has been segmented as follows:
Wireless Charging Market, by Technology
- Radio Frequency
Wireless Charging Market, by Application
- Consumer Electronics
- Aerospace & Defense
Wireless Charging Market, by Region:
- North America (The U.S. and Canada)
- Europe (The U.K, Germany, CIS + Scandinavia and Rest of the Europe)
- Asia Pacific (China, Taiwan, South Korea and Rest of the Asia Pacific)
- Latin America (Mexico, Brazil and Rest of the Latin America)
- Middle East and Africa (MEA) (South Africa, Saudi Arabia and Rest of the MEA)
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