Wireless Charging Market Forecasts 2024 Key Players: Energizer Holdings, IDT - Integrated Device Technology, Inc., MediaTek, Murata, Qualcomm, Texas Instruments, WiTricity, Powermat, PowerbyProxi, Leggett & Platt Automotive Group
Wireless Charging Market size is set to exceed USD 14 billion, will grow at more than 13% CAGR estimation from 2017 to 2024. A huge opportunity for the technology exists in the highly automated & connected industries, as the battery power is a vital factor in several industrial applications. Wireless charging in industrial settings helps reduce the risk of explosions caused by stray sparks which occur during the connection and disconnection of current carrying power cables.
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In industrial applications of unmanned systems and robotic vehicles which require high voltages of electricity to operate efficiently, the technology is providing a consistent, high efficiency power supply to batteries which is expected to enhance the wireless charging market growth. Resonant technology accounted for more than 25% of the wireless charging market share in 2016.
The technology does not require direct contact for charging of devices and allows several devices to be charged simultaneously. It has a competitive advantage over the inductive technology as it offers wireless transfer of power at a long range for multiple devices. The technology is anticipated to become more widely available at coffee-shop tables and in offices under the desks.
Healthcare is a promising application segment for the wireless charging market. The usage of medical implants in advanced medical therapies for a variety of chronic conditions is growing, with the ability to safely charge such devices opens new opportunities to several treatment options thereby driving the wireless charging market growth. Moreover, wireless charging technology is offering its end-users the ability to extend the lifetime of an implant as the battery can be recharged, and can also eliminate the battery need in some cases.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Energizer Holdings
2. IDT - Integrated Device Technology, Inc.
6. Texas Instruments
10. Leggett & Platt Automotive Group
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Wireless Charging Market, By Technology
Wireless Charging Market, By Application
• Aerospace & Defense
A major factor aiding the U.S. wireless charging market growth are the incentives provided by its government for the development and the usage of the wireless charging equipment’s. The U.S federal government is providing tax credits of USD 2,500 to USD 7500 for each EV purchased in the country.
Increase in adoption of EVs in the country is anticipated to provide the industry several growth prospects. Moreover, several restaurants and coffee shops in the country are implementing the technology to increase the consumer awareness about the brand and provide a hassle-free user experience.
The players operating in the wireless charging market include ConvenientPower Ltd, Energizer Holdings, Evatran (Plugless), GETPOWERPAD™, IDT - Integrated Device Technology, Inc., Leggett & Platt Automotive Group, MediaTek, Mobility Mojo, Murata, PowerbyProxi, Powercast Corporation, Powermat, Qualcomm, Texas Instruments, and WiTricity.
Browse key industry insights spread across 140 pages with 62 market data tables & 75 figures & charts from the report, Wireless Charging Market in detail along with the table of contents:
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