Zion Market Research, the market research group announced the analysis report titled ‘Wireless Charging Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024′
Global Wireless Charging Market: Overview
In the recent years, there has been development in the process of recharging the batteries of the electrical devices without making use of the physically connected electric cables. With the help of electromagnetic induction or microwave, there exists communication between the transmitter and the receiver. This technological advancement of the wirelessly chargeable devices has avoided the necessity of carrying multiple chargers for the various devices. The examples of some of the chargeable devices are mobile phones, tablets, laptops, and others need to be handier. The advantages of the wireless charging include the safety while charging, the efficiency of handling, no need to maintain the charging cables and the sockets, protection against the electric shocks and no need for the devices to be waterproof.
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Global Wireless Charging Market: Segmentation
The wireless charging market is segmented globally on the basis of technology, application and by regions. Based on the technology, the global market is segregated into resonant, inductive, RF and others. Based on the application the wireless charging technology is categorized into consumer electronics, healthcare, automotive, industrial, defense and others. Regionally, the global market is diversified into North America, Asia-Pacific, Europe, the Middle East and Africa and Latin America.
Global Wireless Charging Market: Growth Factors
The major factor that has contributed to the growth of the global wireless charging market is the growth and the development in the phone market. The key drivers for the growth of the global market are the increasing demand for the sealed devices, the demand for the power for devices and the problem of carrying multiple chargers for different devices. The application segment that has contributed the major share to the market growth is the consumer electronics. The health care and the defense segment is also a promising segment in terms of market growth. Lack of investment and standardization and the expensive infrastructure required for the technological developments pose a challenge to the market growth. The other factor is the compatibility issues with the standards of the solutions set up by the Air Fuel Alliance and Wireless Power Consortium are influencing the distributors and manufacturers over the period of time.
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Global Wireless Charging Market: Regional Analysis
A huge contribution to the market share is provided by the Asia Pacific region owing to the growth of the consumer electronics industry, which includes the smartphones and laptops. However, comparatively, the North American market appears to be more mature than the Asian market. The growing consumer preferences and inclination to spend on the electronics and buying quality products is one of the main reason why the Western Europe and the North American market is growing significantly. Africa and Latin America are also showing a significant market growth in the coming years.
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Global Wireless Charging Market: Competitive Players
The major market players in the global wireless charging market are Convenient Power HK Ltd., Integrated Device Technology, Inc., Duracell Powermat, WiTricity Corporation, Murata Manufacturing Co. Ltd., Texas Instruments, Inc., Oregon Scientific, Energizer Holdings, Inc., and Qualcomm.
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