Wireless Charging Market -Growth Drivers, Opportunities and Forecast Analysis to 2023
Wireless Charging market is still in the
growth phase and new applications are coming in the picture every day. For the
purpose of this report, Market Research Future has bifurcated the application
segment into consumer electronics, Industrial, Infrastructure, and Automotive
among others. Consumer electronics segment accounts for the largest market
share in the year 2016. High demand for the consumer electronic products such
as smartphones, tablets, wearable devices among others are the major driving
factor for the growth of the consumer electronics segment. Smartphones segment
accounts for highest market share in the year 2016.
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Increasing disposable income around the
world is leading to the high expenditure on the electronic products which
includes purchase of smartphones and wearable devices. Growing demand of
smartphones around the world, especially in Asia Pacific is one of the major
driving facto which is supporting the market of smartphone wireless charging.
The Global Wireless Charging
market is expected to get high growth in coming
years. Huge demand of smartphones, developing market for electric vehicles,
growth in semiconductor industry, and developing market of IoT are some factors
driving the market growth during forecast period 2016-2023. However, high cost
and compatibility issues are some of the factors hampering the market growth.
Key
Players:
Samsung Electronics Co
Ltd. (South Korea), Texas Instruments Inc. (U.S.), NXP Semiconductors
(Netherlands), Qualcomm Inc. (U.S.), Integrated Device Technology, Inc. (U.S.),
Powermat Technologies Ltd (Israel), WiTricity Corporation (U.S.), PowerbyProxi
(New Zealand), TDK Corporation (Japan), and Convenient Power HK Limited (China)
are some of the prominent players profiled in MRFR Analysis and are at the
forefront of competition in the Global Wireless Charging Market.
Industry
News
December
2017 – PESI, a South Korean designer studio, has
introduced a range of furniture and homeware products integrated with wireless
charging supported by electromagnetic induction technology. These products are
available in two forms namely composition and on the surface. On the surface
products includes flat wireless charging surface and desktop items such as
container, clock, mirror, and speakers. Whereas, composition products includes
wireless charging surface which can be customize with wood and acrylic
elements.
December
2017 - Dan Bus Company, an Israel transit
service company, has announced of investing around USD 2.2 million in wireless
technology to deploy electric power sources on the regular roads of the
country. These electric roads would be capable of providing power to vehicles
from the road using conduction coils which provide charging power through
magnetic induction.
October
2017 – PowerSphyr, a global provider of wireless
power technology products and solutions, acquired Gill Electronics, a wireless
power & charging device designer. Gill Electronics is one of the prominent
manufacturer of resonant magnetic systems deployed with Airfuel, and FCC
approved products. With this acquisition, the PowerSphyr is expected to produce
wireless charging solutions enabled with resonant magnetic solutions.
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Wireless
Charging Global Market- Competitive Analysis
Wireless Charging market
appears to be competitive in the coming years owning to the presence of
numerous large players active in regional market. Samsung Electronics, TDK
Corporation, Qualcomm Inc., Texas Instrument Inc., and Integrated Device
Technology Inc. are some of the companies leading the wireless charging market
globally. The key strategies traced from the analysis of recent developments of
the key players include Product Launch, Agreement & Partnership,
Acquisition and expansion. Strategic partnerships between Key players support
the growth and expansion plans of the key players during the forecast period.
On the product and sales side, companies are investing in innovation/R&D,
brand building, and fostering strong relationships with customers to support
their competitive position.
Wireless
Charging Global Market- Segmentation
The Wireless Charging
Market can be classified into 4 key segments as follows:
Segmentation
by Technology: Inductive Coupling and
Capacitive Coupling
Segmentation by Components: Transmitters and Receivers
Segmentation by Application: Consumer Electronics (Smartphones,
Tablets, Wearable Device), Industrial, Infrastructure, and Automotive.
Segmentation by Regions: Comprises Geographical regions -
North America, Europe, Asia Pacific and Rest of the World.
Wireless Charging Global
Market- Regional Analysis
Asia Pacific is
dominating the market of wireless charging due to advancement and high demand
for consumer electronic products such as Smartphones, Tablets and wearable
devices. Asia Pacific accounts for more than 35% of global population and most
of the Asian countries are still in development phase creating high demand for
the electronic equipment’s. China and Japan are supporting the supply of
wireless charging solution whereas countries these countries are also making
huge consumption of these products along with India, South Korea and Taiwan.
North America followed by Europe has expected to hold second and third position
respectively in the global wireless charging market.
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