According to
a new market research report titled "Wireless Charging Market by
Technology, Range, Transmission Range (Short Term, Medium Term, and Long Term),
Application (Consumer Electronics, Defense, Healthcare, Automotive, and
Industrial), and Region - Global Trends and Forecast to 2020",
published by MarketsandMarkets, the wireless charging market is expected to
grow at a CAGR of 60.26%, between 2014 and 2020, and forecast to reach USD 13.7
Billion by 2020.
Browse 69
market data Tables and 77 Figures spread through 188 Pages and in-depth TOC on "Wireless
Charging Market".
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The Wireless
Charging Market has been segmented into four basic segments which include
market by technology, market by transmission range, market by application, and
market by geography. Market by technology comprises inductive, radiation, and
other technologies. Market by application includes consumer electronics,
defense, healthcare, automotive, and industrial sectors. It has been estimated
that the majority of the demand is expected from consumer electronics; also
most of the companies involved in the development of wireless charging
technology are developing products related to consumer electronics. The
consumer electronics application holds the largest market size of 68% in terms
of value, in 2014. The wireless charging technology is suitable for
applications, wherein the devices need to be frequently charged. Consumer
electronics devices require frequent charging sessions as they are used
extensively, throughout the day.
Smartphones
have now become an inevitable part of day-to-day life. People are carrying
their smartphones for the whole day, using numerous applications and being
continuously connected to the internet. This leads to fast draining of
batteries, thereby necessitating the need to charge smartphones, at least once
in a day. This problem can be easily be solved by the implementation of
wireless charging technology. Companies are continuously working towards the
development of transmitters and receivers, which can enable the smartphones to
be charged on the go.
Another
successful application of wireless charging is in electric vehicles, as it
doesn't require the physical connection of vehicle and charging source. The
vehicles can be charged, just by parking it in the garage or parking space
where the charger infrastructure is available. Such attributes of wireless
charging comprise the key factors driving the growth of this market in
automotive application.
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The various
market players involved in the development of wireless charging technology
include ConvenientPower HK Ltd. (Hong Kong),
Energizer Holding, Inc. (U.S.), Integrated Device Technology Inc. (U.S.),
Leggett and Platt Inc. (U.S.), Murata Manufacturing Co. Ltd. (Japan), PowerbyProxi Ltd. (New
Zealand), Powermat Technologies Ltd. (Israel),
Qualcomm Incorporated (U.S.), Texas Instruments Incorporated (U.S.), and
WiTricity Corporation (U.S.). These companies operate globally and are working
to incorporate this technology in various applications.
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