San Francisco,11
October 2018: The global wireless
charging market is projected to reach USD 22.25 billion by
2022. Increase in the demand for hassle-free charging pads is driven by factors
including entangling of charging cable, insufficient availability of electric
sockets in public places and malfunctioning ports due to continuous usage.
These key factors are expected to increase the popularity of wireless power
systems. Adoption of this technology in sectors such as healthcare and military
services is expected to offer new horizons for market growth and provide new
opportunities to expand.
Compatibility issues with solution
standards set up by wireless charging associations, namely Wireless Power
Consortium (WPC) and Air Fuel Alliance, are expected to pose a challenge for
the manufacturers and distributors over the coming years. Key market players
including Samsung, Qualcomm, and Broadcom act as members of these associations
and play a vital role in the development of innovative technologies.
Inductive technology dominated the market
with a share of over 50.0% in 2014 owing to increasing demand from Electric
Vehicles (EVs) and widespread application of WPC’s Qi platform in consumer
durables and electronics.
RF technologies are expected to witness
rapid growth and capture market share of inductive technology over the forecast
period. The major advantage of Resonant technology is its capability to charge
multiple devices simultaneously thereby gaining an edge over RF technology
which is tailored for small devices such as medical implants and wearables.
Access
Research Report of Wireless Charging
Market @ www.grandviewresearch.com/industry-analysis/wireless-charging-market
Consumer electronics accounted for over
60.0% share in 2014 owing to increase in adoption of this technology in tablets
and smartphones. The healthcare sector is estimated to witness a growth rate of
over 40.0% from 2015 to 2022. Deployment of ultra-small devices such as sensory
instruments and cybernetic implants into the body has become a simplified
procedure owing to its ability to be charged wirelessly. Extensive R&D
related to the development of new methodologies and techniques for wireless
charging by numerous organizations namely Stanford University is expected to
propel growth over the forecast period.
Asia Pacific accounted for a significant
share of the global market, which can be attributed to rising demand for smart
devices such as tablets and smartphones and increase in demand for electric
vehicles in the region. Western Europe and the U.S. form the key regional
markets on account of growing consumer preference and inclination to spend on
quality consumer electronic products designed for the niche segment. Increasing
adoption of powering mats and charging hotspots for consumers by global food
chains including McDonalds and Starbucks is expected to have a positive impact
on demand.
Africa and Latin America are untapped
markets and are projected to observe the high adoption of wireless/cordless
charging over the next seven years. The wireless charging market is
characterized by huge investments by industry players to enhance and optimize
existing functionalities. Key players include Qualcomm, Integrated Device
Technology (IDT), PowerbyProxi, Samsung, Broadcom, and WiTricity
Corporation.
Qualcomm introduced a new cordless docking
station 802.11ad WiGig dock which can be used with snapdragon 820 processor and
initiates powering when docked onto the station. Qualcomm entered into a tie-up
with Efacec, which plans to launch powering options for electric hybrid
vehicles. WiTricity has developed technologically advanced processes to
charging in multiple applications including automotive, consumer electronics,
medical and industrial.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the
global wireless charging market on the basis of technology, application, and
region:
Wireless Charging Technology Outlook
(Revenue, USD Million, 2012 - 2022)
·
Inductive
·
Resonant
·
RF
·
Others
Wireless Charging Application Outlook
(Revenue, USD Million, 2012 - 2022)
·
Automotive
·
Consumer Electronics
·
Industrial
·
Healthcare
·
Defense
·
Others
Wireless Charging Regional Outlook
(Revenue, USD Million, 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa (MEA)
Access Press Release of
Wireless Charging Market@ www.grandviewresearch.com/press-release/global-wireless-charging-market
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Grand View Research
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View Research, Inc. is a U.S. based market research and consulting company,
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The company provides syndicated research reports, customized research
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