Wireless charging is a method of energizing the electronic devices with the help of electromagnetic induction and electromagnetic resonant techniques. IndustryARC estimates a robust demand for wireless charging products till 2020, facilitated by its rapid penetration into electronic devices. It is forecast that the wireless charging market will reach $15.2 billion by 2020 with an estimated CAGR of 48.68%.
The wireless charging equipment market has been prominently segmented into type of mode and range they serve. Under type of mode, the wireless charging market has been classified into three broad categories: Inductive mode which uses electromagnetic induction, resonant mode which uses electromagnetic resonance and frequency mode which uses different waves like radio wave, micro wave and ultrasound. The market is also segmented by range which includes short range, medium range and long range.
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The factors driving the growth of wireless charging market are rising smartphone and tablet PCs market, increasing usage of electric vehicles and growing penetration of wireless charging devices to other geographic areas. Wireless charging finds its application in various fields such as consumer electronics, industrial and automotive. Electric vehicles (EV’s) segment is one of the key end user industries of wireless charging market. People who own EV’s are using wireless charging to recharge the car batteries. As concerns over environment are increasing significantly, people are showing more interest to buy EV’s. As a result this segment is expected to have a high growth rate of nearly 103% in the forecast period 2015 – 2020.
However having different standards for power transfer is hindering the growth of wireless charging market. Since different manufacturers are producing core products of wireless charging technique like transmitter and receivers this is leading to lack of universal compatibility. In order to achieve compatibility between these products two organizations namely: WPC and PMA+A4WP are developing harmonized standards in competing scenario. As two organizations are setting different standards with different features, manufacturers are in a conundrum to choose among these two standards which results in slowing down the growth of wireless charging market.
Wireless charging technique is used in most domestic electronic devices such as smartphone, tablet Pc’s, laptops and wearable devices. Along with the consumer electronics, this technique is also used for transferring power to electric vehicles (EV’s), industrial products and health care devices. In industrial products wireless charging is used to recharge the batteries of cordless power tools without detaching the battery from the device. In health care industry, this technology can potentially assist in continuously charging the implants which are embedded in brain and heart. Globally around 127 million consumers are using wireless charging devices, with the largest markets being America followed by Europe. This wireless charging market is dominated by a mix of big players and small players. However, the top companies are concentrating only on component manufacturing which gives lot of scope for small players to manufacture final product.
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The notable players in this market are
- Powermat technologies Ltd
- WiTricity Corporation
- PowerbyProxi Ltd
- ConvenientPower HK Ltd
- Qualcomm Incorporated
- Samsung technologies
APAC region holds nearly 44% of market share in terms of revenue in the total wireless charging market followed by America and Europe. The regions which are covered in this report are:
- Americas (Brazil, Canada, U.S)
- Europe (Germany, Italy, U.K)
- APAC (Japan, South Korea, China, Australia)
The overall wireless charging market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.
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