A recent study by Triton Market Research titled ‘Global Wireless Charging Market,’ covers the Global Analysis and Forecast for 2019-2028 by Technology (Inductive, Resonant, Radiofrequency, Other Technologies), by End-user (Automotive, Consumer Electronics [Smartphones, Tablets, Wearable Devices, Others], Industrial, Healthcare, Aerospace & Defense, Other End-users), by Components (Transmitters, Receivers), and by Geographical Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).
The wireless charging technology is increasingly gaining prominence to be one of the most evolving and revolutionary technologies in the modern world. It has revolutionized the way the electronics industry functions, unknotting the world of wires. Wireless charging solutions are primarily being adopted by several smart device companies.
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The report on the global wireless charging market shows that the industry would generate $28.61 billion by 2028, with a CAGR of 24.89% over the forecast years from 2019 to 2028. The growing need for an effective, convenient solution to charge devices and the growing penetration of smartphones & other wearable devices in the market, coupled with the growth in the adoption of electric vehicles, are the essential driving factors of the wireless charging market. However, the high price and lower efficiency of this technology are impairing the market growth.
The market for wireless charging is primarily classified into technology, and end-user, and components. According to technology, the market is segmented into inductive, resonant, radiofrequency, and other technologies. Whereas, according to end-user, it is categorized into automotive, consumer electronics, industrial, healthcare, aerospace & defense, other end-users. This consumer electronics segment is further divided into smartphones, tablets, wearable devices, and others. Considering the components, the market is bifurcated into transmitters and receivers.
The Asia-Pacific is set to be the fastest-growing region in the global market over the forecast period. The emerging electric vehicles industry in this region as significantly contributing to the growth of the market. This is because EVs are major end-users of wireless charging technology.
Further, North America is expected to maintain its leading position in the global market over the estimated years. The region is some to many tech giants, which has considerably boosted the adoption of wireless charging. Also, may renowned electric vehicle manufacturers have their base in North America, which is aiding the studied market’s growth.
Aircharge, NXP Semiconductors, Qualcomm Technologies Inc, NuCurrent, ConvenientPower HK Limited, TDK Corporation, Belkin International Inc, Infineon Technologies AG, Samsung, Powermat, WiTricity Corporation, Texas Instruments Incorporated, Energous Corporation, Semtech, and Renesas Electronics Corporation (Integrated Device Technology Inc) are some of the renowned companies in the wireless charging market.
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Question & Answer: Wireless Charging Market
Question 1: What are the essential driving factors of the wireless charging market?
Answer: The growing need for an effective, convenient solution to charge devices and the growing penetration of smartphones & other wearable devices in the market, coupled with the growth in the adoption of electric vehicles, are the essential driving factors of the wireless charging market.
Question 2: What factors are impeding the wireless charging market growth?
Answer: The high price and lower efficiency of this technology are impairing the market growth.
Question 3: How are the Asia-Pacific and North America influencing the growth of the wireless charging market?
Answer: The Asia-Pacific is set to be the fastest-growing region in the global market over the forecast period. The emerging electric vehicles industry in this region as significantly contributing to the growth of the market. This is because EVs are major end-users of wireless charging technology.
Further, North America is expected to maintain its leading position in the global market over the estimated years. The region is some to many tech giants, which has considerably boosted the adoption of wireless charging. Also, may renowned electric vehicle manufacturers have their base in North America, which is aiding the studied market’s growth.
Question 4: Which are some of the renowned companies in the wireless charging market?
Answer: Aircharge, NXP Semiconductors, Qualcomm Technologies Inc, NuCurrent, ConvenientPower HK Limited, TDK Corporation, Belkin International Inc, Infineon Technologies AG, Samsung, Powermat, WiTricity Corporation, Texas Instruments Incorporated, Energous Corporation, Semtech, and Renesas Electronics Corporation (Integrated Device Technology Inc) are some of the renowned companies in the wireless charging market.
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Moreover, companies are devising organic and inorganic growth strategies, which will eventually help the market to flourish. Batteries are an essential component used in an aircraft electrical system. The battery technology has disrupted the defense industry.
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