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.