Wireless Charging Market To Gain From Rising Adoption Of This Technology In Sectors Such As Healthcare And Military Services Till 2022

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.

Further key findings from the report suggest:

  • 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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

 

Dhanashree is a Computer Engineer by education and a technology enthusiast by passion. She has a stint of experience in Blogging and SEO and loves to write.

Global Wireless Charging Market To Exceed USD 20 Billion By 2024

Wireless Charging Market

Wireless charging market is expected to grow beyond USD 20 billion by 2024. Elimination of cables allows clutter-free charging, which has impelled the consumption levels. Another growth driving factor for the global market includes the growing demands for smartphones, specifically in India, China, and South Korea. The rise in infrastructural development, digitization, and network communications has also driven the growth. Moreover, rising demands across the automotive industry on account of the increased sales of electric vehicles is also a key market driver. The global market is segregated as applications, technologies, and regions.

The application sector includes defense, consumer, automotive, healthcare, and industrial. The consumer application sector led the global market and is expected to generate a revenue share of more than USD 16 billion by 2024. Rising demands for wireless chargers is likely to augment the segment. The healthcare sector is projected to be the most lucrative application sector, with a CAGR of over 38 % over the forecast period (from 2016 to 2024).

The technology sector comprises resonant, Radio Frequency (RF), and inductive. Inductive wireless charging market led the overall technology sector, particularly in the automotive industry, in 2015. However, this technology is inconvenient for a multi-device ecosystem since it permits just a single device to be charged per coil. The RF technology sector is expected to exceed USD 3.5 billion by 2024 growing at a CAGR of over 45 % from 2016 to 2024. This is mainly because it eradicates the necessity for appropriate alignment in case of any small devices.

Regionally, the United States occupied over 30 % of the total revenue in 2015. High tendency to spend on these devices because of the high levels of technological awareness and advancements are anticipated to favorably impact the market growth. In addition to this, significant technological proliferation across various application sectors is also likely to be a key growth driver. The Asia-Pacific wireless charging market is projected to reach USD 12 billion by 2024 growing at a healthy CAGR of over 35 % during the estimated years.

The major companies in the global market include WiTricity Corp.; PowerbyProxi Ltd.; Qualcomm Inc.; and Integrated Device Technology Inc. (IDT). New players generally work together with technology providers and then launch their products. However, huge set-up costs may pose a challenge to these new companies that want to establish and develop their market presence.

Susan Hill is a Digital Marketer by professional and she has a great experience in blogging, content writing and SEO.

Wireless Charging Market to Register 60% CAGR till 2024

Hexa Research

Wireless Charging Market is expected to grow beyond USD 20 billion by 2024. Elimination of cables allows clutter-free charging, which has impelled the consumption levels. Another growth driving factor for the global market includes the growing demands for smartphones, specifically in India, China, and South Korea. The rise in infrastructural development, digitization, and network communications has also driven the growth. Moreover, rising demands across the automotive industry on account of the increased sales of electric vehicles is also a key market driver. The global market is segregated as applications, technologies, and regions.

The application sector includes defense, consumer, automotive, healthcare, and industrial. The consumer application sector led the global market and is expected to generate a revenue share of more than USD 16 billion by 2024. Rising demands for wireless chargers is likely to augment the segment. The healthcare sector is projected to be the most lucrative application sector, with a CAGR of over 38 % over the forecast period (from 2016 to 2024).

The technology sector comprises resonant, Radio Frequency (RF), and inductive. Inductive wireless charging market led the overall technology sector, particularly in the automotive industry, in 2015. However, this technology is inconvenient for a multi-device ecosystem since it permits just a single device to be charged per coil. The RF technology sector is expected to exceed USD 3.5 billion by 2024 growing at a CAGR of over 45 % from 2016 to 2024. This is mainly because it eradicates the necessity for appropriate alignment in case of any small devices.

Regionally, the United States occupied over 30 % of the total revenue in 2015. High tendency to spend on these devices because of the high levels of technological awareness and advancements are anticipated to favorably impact the market growth. In addition to this, significant technological proliferation across various application sectors is also likely to be a key growth driver. The Asia-Pacific wireless charging market is projected to reach USD 12 billion by 2024 growing at a healthy CAGR of over 35 % during the estimated years.

The major companies in the global market include WiTricity Corp.; PowerbyProxi Ltd.; Qualcomm Inc.; and Integrated Device Technology Inc. (IDT). New players generally work together with technology providers and then launch their products. However, huge set-up costs may pose a challenge to these new companies that want to establish and develop their market presence.

Sara James is Market Research Analyst, Conducting in-depth data analyses using traditional and advanced methods Build a detailed database for the understanding of the target market and industry.

Global Wireless Charging Market Estimates and Forecasts, 2017-2022 (USD Million)

Market Research Explore review has been based on the titled,”Wireless Charging ”. The Global Wireless Charging market is estimated to reach Wireless Charging Billion USD in 2017. The objective of report is to define, segment, and project the market on the basis of type, channel, and region, and to describe the content about the factors influencing market dynamics, policy, economic, technology and market entry etc.

The report begin with the basic overviews of definitions and classification of the industry, applications of the industry and chain structure are given. The report details the historical and forecast data of the Global Wireless Charging market along with the current scenario. Report also includes Wireless Charging market by Type and Applications, Electric Heating Cable Sales, Revenue, Price and Wireless Charging Industry Share.

After the Wireless Charging Market analysis report speaks about the manufacturing process and cost structures. The process is analyzed thoroughly upstream raw materials, equipment and downstream consumers, various manufacturing associated costs (material cost, labour cost, etc.) and the actual process.

Various analytical tools include feasibility analysis, investment return analyses, as well as SWOT analysis of the major market players. At the Wireless Charging market report gives Forecast (2017-2022) and market research findings and conclusion.

Table of Contents
Part 1: Market Overview
Part 2: Industry Chain
Part 3: Environmental Analysis
Part 4: Major Vendors
Part 5: Market/Vendors Distribution
Part 6: Regions Market
Part 7: Forecast
Part 8: Marketing Overview
Part 9: Conclusion

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