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.
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)
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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