A recent report published by Infinium Global Research on wireless charging market provides in-depth analysis of segments and sub-segments in the global as well as regional wireless charging market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional wireless charging market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global wireless charging market. According to the report, the global wireless charging market is projected to grow at a CAGR of 38.74% over the forecast period of 2019-2025.
Development of wireless and connected devices have changed the dynamics of information technology and telecommunication industry. The advent of wireless portable devices with batteries have increased demand for charging devices. As technology advances, new and innovative charging devices are developed. Wireless chargers are developed owing to the growing demand for convenience and user experience. The wireless charging market is fragmented with the number of small-cap players competing with the big players in the market. The leading market players including Qualcomm Incorporated, Texas Instruments, Inc., Integrated Device Technology, Inc., Sony Corporation and others are developing innovative charging technologies for the fast and effective charging process.
According to the Pew Research Center survey, more than 5 billion people around the world possess mobile phones. While around 225 million wearable devices are being shipped all over the world until 2019. The rise in demand for efficient charging system for portable electronics and wearable is majorly driving the wireless charging market. Moreover, the growing preference of automotive players towards wireless electric vehicles is expected to boost the growth of the wireless charging market. Development of wireless charging for electric vehicles has caught pace in recent years. However, the slower speed of charging compared with other charging technologies is the major restraining factor for the growth of the wireless charging market. Nevertheless, the growing popularity of the IoT is expected to offer lucrative opportunities for the key players in the wireless charging market.
In terms of region, North America held the highest market share, dominating the global wireless charging market. The dominance of North America attributed to the growing adoption of wireless charging for industrial applications and rise in the awareness of wireless power technology among consumers in this region. Moreover, the higher penetration of smartphones and connected devices and the presence of major market players are expected to boost the growth of the wireless charging market in North America. While the European wireless charging market is anticipated to offer lucrative growth opportunities owing to higher adoption of electric vehicles in the region.
The report on global wireless charging market covers segments such as technology, and application. On the basis of technology, the sub-markets include inductive, resonant, and other technologies. On the basis of application, the sub-markets include electronics, automotive, healthcare, aerospace & defense, and other applications.
The report provides profiles of the companies in the market such as Samsung Electronics Co., Ltd., Qualcomm Incorporated, Texas Instruments, Inc., Integrated Device Technology, Inc., WiTricity Corporation, Energizer Holdings, Inc., Sony Corporation, Semtech Corporation, Murata Manufacturing Co. Ltd., and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of wireless charging market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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