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Wireless Charging Market Set to Register 34.9% CAGR During 2018-2026| Key Players are Integrated Device Technology, Mojo Mobility, Powercast Corp., Texas Instruments, Energizer Holdings, Leggett & Platt, Incorporated, Qualcomm Incorporated, Powermat Techn
Wireless Charging Market
Wireless charging involves charging of rechargeable batteries without physically connecting the cables. Wireless charging solutions are used across various applications such as consumer electronics, industrial, medical, automotive and defence. This technology enables multiple charging outputs for various devices at the same time. There are no restrictions on the positioning of these devices along with the liberty of using any device of any brand to be charged.
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The growing penetration of mobile devices, and increasing adoption of smart and connected devices has increased the adoption of wireless charging. The wireless charging market is also influenced by the rise in demand for mobile devices and other electronic consumer goods such as tablets, laptops and wearables. The increasing adoption of electric vehicles also accelerates the adoption of wireless charging. Other factors driving the market growth include growing disposable income, technological advancements, and changing lifestyles. New emerging markets, emerging consumer demographics, and increasing adoption of smart homes would provide growth opportunities for the market in the coming years
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Wireless Charging Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
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Asia-Pacific generated the highest revenue in 2017 owing to increasing penetration of mobile devices and presence of established automotive industry in this region. The increasing trend of IoT, and growing demand for smart technologies drive the market growth in the region. The increasing penetration of electric vehicles in the region boost the adoption of wireless charging solutions.
Competitive Landscape and Key Vendors
The global wireless charging market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
The leading companies operating in the wireless charging market include Integrated Device Technology, Mojo Mobility, Powercast Corp., Texas Instruments, Energizer Holdings, Leggett & Platt, Incorporated, Qualcomm Incorporated, Powermat Technologies Ltd., ConvenientPower, and Murata Manufacturing Co. Ltd.
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