Industry Overview
The research report “Wireless
Charging Market
Size By Application (Consumer, Defense, Healthcare, Automotive, Industrial), By
Technology (RF, Resonant, Inductive), Industry Analysis Report, Regional
Outlook (U.S., Canada, UK, Germany, China, Japan, India, Brazil, Mexico),
Application Potential, Price Trends, Competitive Market Share & Forecast,
2016 - 2023”, by Global Market
Insights, Inc. says Wireless
Charging Market size is expected to reach USD 25.67 billion by 2023; driven by growing
smartphone demand.
The
Oral-B rechargeable toothbrush was the first commercialized wireless charging
product. Since then, wireless charging market is on the verge of continuous
developments in recharging the batteries of the electrical devices. Recently,
Sony has patented a technology, which can hunt power from a range of electric
devices comprising smartphones, laptops and as well TVs, washing machines, and
fridges. Another notable development in 2016 was the launch of LG G6 and Galaxy
S8, sporting wireless charging technology.
Qi
is the most common technology found in wireless charging products. With the
adoption of Qi technology and standards, in 2012, Nokia’s Lumia 820 & 920,
Google’s Nexus 4 and many other smartphone models featured inductive charging.
High degree of digitization and commercialization has impelled global wireless
charging market.
Growing
smartphone penetration particularly in India, China, and South Korea is likely
to propel the Asia Pacific wireless charging industry to register a whooping
CAGR of 34% over the period of 2016-2023. Considerable proliferation of
wireless charging technology across various application segments is also a
major growth driver.
Wireless
charging technology is set to bring a notable surge in wearable devices.
Consumer applications dominated the wireless charging industry, with target
revenue slated to reach USD 15.8 billion by 2023, owing to increased purchasing
parity of consumers and seamless charging experience. Healthcare is another
attractive application foreseen to grow at a rate of 37.5% from 2016-2023.
Miniaturization of products and the possibilities of performing operations
without the use of batteries has led the growth of wireless charging market in
healthcare applications. Wireless charging market is set to experience a boom
in vehicle-charging, defense, and industrial sectors, subsequently expanding the
application base.
Wireless
charging industry has established three major technology standards in order to
provide compatibility across devices, which includes Alliance for Wireless
Power (A4WP), Power Matters Alliance (PMA) and Wireless Power Consortium (WPC).
WPC and PMA technology standards specialize in inductive technology, whilst
A4WP uses resonance technology.
Inductive
wireless charging industry is anticipated to exceed USD 10 billion by 2023,
owing to its popularity across the automotive industry. RF wireless charging
technology can power more than one device simultaneously, as opposed to its
counterpart. RF wireless charging market is projected to exceed USD 3 billion
by 2023 with a CAGR of 40.5% over the period of 2016-2023.
This market is fueled by adoption of novel technologies by the market giants. Many biggies have already implemented wireless charging in their flagship phones, whilst the smartphone market hulk – Apple, is also expected to switch gears and implement this technology. This industry may witness several players competing for standards, licensing agreements, and technological innovations. Major participants in the wireless charging industry include Qualcomm, PowerbyProxi, WiTricity Corporation, and IDT.
Report Content
Chapter 1. Methodology and Scope
1.1. Research
Methodology
1.1.1. Initial data exploration
1.1.2. Statistical
modeling and forecast
1.1.3. Industry
insights and validation
1.2. Data Sources
2.1. Wireless charging
industry 3600 synopsis, 2013 - 2023
2.1.1. Business trends
2.1.2. Application
trends
2.1.3. Regional trends
3.1. Industry
segmentation
3.2. Industry Size and
forecast, 2012 - 2023
3.3. Industry
ecosystem analysis
3.3.1. Supply
landscape
3.4. Technological
overview
3.4.1. Wireless
charging standards
3.5. Industry Impact
forces
3.5.1. Growth drivers
3.5.1.1 Growing smartphones demand
3.5.1.2 High degree of convenience
3.5.1.3 Technological innovation
3.5.2. Industry
pitfalls & challenges
3.5.2.1 Need for standardization
3.6. Growth potential
analysis
3.7. Porter’s analysis
3.8. Key competitor
analysis, 2015
3.8.1. Company
strategy landscape
3.9. PESTEL analysis
Purchase
This Report by calling Global Market Insights, Inc. at 1-888-689-0688 (Toll
Free) or 1-302-846-7766.
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