Asia Pacific Acounted For The Largest Share Of The Wireless Charging Integrated Circuits (ICs) Market GloballyWireless Charging Integrated Circuits (ICs) Market
Wireless charging eliminates the cable normally used to charge mobile phones, cordless appliances and so on. With a wireless charger, the battery inside any battery-powered appliance can be charged by merely placing the device close to a wireless power transmitter or a designated charging station. The global wireless charging ICs market is expected to grow substantially over the forecast period span owing to the rise in demand for a compact design for portable consumer electronic devices. The widely employed benefits with ICs like multiple device charging, compatibility, connection with different devices, and convenient solutions attract the consumers towards the market. Moreover, these chips occupy less space, which allows device manufacturers to integrate other technologies into the products.
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Increasing Demand Of The Handheld Devices And Smartphones To Drive The Market Growth
Major Players in Wireless Charging Integrated Circuit (Ics) market are:
Texas Instruments, Linear Technology, Vishay Intertechnology Inc, NXP Semiconductors, Qualcomm, Broadcom Corporation, MediaTek Inc, Toshiba Corporation, ROHM Semiconductor, On Semiconductor.
Most important types of Wireless Charging Integrated Circuit (Ics) products covered in this report are:
Transmitter ICs, Receiver ICs.
Most widely used downstream fields of Wireless Charging Integrated Circuit (Ics) market covered in this report are:
Smart Phones and Tablets, Wearable Electronic Devices, Medical Devices, Automobile Devices, Others.
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The increasing penetration of smartphones makes wireless charging ICs technology more popular among consumer electronics manufacturers. Moreover, high demand for the smart devices such as smartphones, laptops, tablets, and digital cameras rising adoption of smartwatches and smart technology; and attraction towards safe and reliable charging are the key factors responsible for the growth of the market in this region. Furthermore, travelling for several businesses and leisure related purposes have contributed to fueling the market demand.
Rising Adoption Of Consumer Electronics To Drive The ICs Market In The Asia Pacific Region
The Asia Pacific holds the largest market share in the global wireless charging integrated circuits (ICs) market, owing to increasing penetration of consumer electronics in this region; growing awareness of wireless power technology among customers; and integration of wireless charging circuits. Additionally, increasing adoption of integrated circuits among customer electronics and the automotive industry will drive the market growth in this region.
However, North America is expected to witness the fastest growth over the forecast period. This can be attributed to an increasing supply of integrated circuits such as integrated device technology, Intel, and Qualcomm.
With the dynamic consumer choices, manufacturers need to focus on product offerings and proper marketing strategies. The market is inclined towards adopting several marketing strategies to capture a wide customer base, such as product differentiation, new product development, mergers, acquisitions, and market penetration. For instance, Belkin, the manufacturer based in the U.S., launched a wireless charging pad in April 2018 for Apple’s iPhone X, 8, and 8 plus.
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