Worldwide Wireless Charging Market – Industry Growth Trends 2022
The global wireless charging market is expected to witness a substantial growth during the forecast period owing to the growing demand for smartphones & tablets, rising consumer preference for user-friendly devices and expanding manufacturing for electrical vehicles across the globe. The new report “Global Wireless Charging Market Research Report- Industry Analysis, Size, Share, Growth, Trends and Forecast” explores the current trends and growth opportunities of the industry in terms of volume and consumption.
The recent advancements in wireless charging technology for medical transplants is also anticipated to further aid in the growth of the market. Over the past few years, rapid product development & innovations have created a surge in demand for using wireless charging facility globally due to its ability to charge several devices and its diversification for numerous applications. Growing application scope across various end-use industries including industrial, healthcare, automotive and defense, in order to experience hassle-free powering facilities for various devices, will also boost the industry growth in the near future. Furthermore, the rising demand for electric vehicles is projected to increase significantly in the coming years because of the declining fossil fuels and increasing concern to control the increasing pollution. Major industry players are investing heavily in R&D activities to improve existing functionalities & features, which in turn will further drive the market demand. Increasing focus on enhancing the power transmission range to easily facilitate the wireless charging of devices over long distances is projected to have a positive impact on the growth of the market over the coming years. However, lack of integration in application standards and high installation cost are major concerns, which may hinder market growth in the forthcoming years.
The global market has been segmented based on technology into inductive, RF (radio frequency) and resonant. The inductive is a leading technology segment and is expected to grow at a significant rate over the forecast period on account of its growing application across various end-use industry due to its advantages such as protected connections, high durability, convenient in use and aesthetic quality. Additionally, rapid technological advancements such as WPC and PMA technology and rising usage of inductive technology in the electric vehicle will also open new growth avenues in the near future. Furthermore, the market has been segmented based on application into consumer electronics, industrial, healthcare, automotive and defense. The consumer electronics segment is expected to grow at highest CAGR during the forecast period owing to the rising global demand for smart electronic devices such as smartphones, computing devices, and wearable devices along with the increasing efforts of manufacturers to provide wireless connectivity products across the globe.
North America has accounted for major market share and is estimated to continue its dominance during the forecast period on account of increasing consumers’ inclination to spend more for smart electronic devices along with the presence of major players in the region. Asia Pacific is a fastest growing market and is anticipated to witness a double-digit growth over the coming years owing to the increasing demand for consumer electronics and rising adoption of wireless charging technology in this region.
The key players include Qualcomm Inc., Fulton Innovation LLC, Texas Instruments, Inc., WiTricity Corporation, Convenient Power HK Ltd., Integrated Device Technology, Inc., Murata Manufacturing Co. Ltd., Duracell Powermat (Procter & Gamble Co.), Energizer Holdings, Inc, Oregon Scientific, Inc., and Anker.
In Feb 2015, Starbucks along with Powermat has launched a free wireless charging facility to its customers in various locations of London.
In March 2016, Green Power Electronics (GPEL) has launched the world’s first Qi wireless charging and integrated power bank case for the iPhone 6s and iPhone 6 to eliminate the hassle of dealing with unnecessary cords and wires.
In Sep 2016, Mophie, a third-party accessory company has introduced a "Power Capsule," a smart carrying case with an in-built battery for recharging wireless headphones.
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