Wireless Charging Market is projected to showcase significant growth from Consumer Electronic Application | Key Players like IDT - Integrated Device Technology, Inc., Qualcomm, Texas Instruments, WiTricity, Murata, MediaTek

Wireless Charging Market growth will be driven by huge adoption of consumer electronic devices such as smartphones. Most tech moguls have been striving to implement wireless charging in their devices with an aim to increase the product’s brand value and presence in the core business. One of the most popular and acclaimed instance testifying the validity of the aforementioned statement is Apple’s recent launch of the iPhone 8 series. The fact that the iPhone 8 would be endowed with wireless charging has been on the news bulletin for a considerably long while, much prior to the product launch. And yet, its introduction in the mainstream arena has created quite a stir in the tech cosmos. The company has apparently chosen 7.5 W of power transfer for iPhone 8 and the much-awaited iPhone X.

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The technology has evolved to adapt to consumer range and distance requirements. Inductive charging technology is a highly efficient technology that is commercially available for usage. Qi technology is available at a cost-effective, competitive pricing, and is designed to work efficiently with a range of mobile devices. Moreover, the technology is being used in medical implants for advanced medical therapies for a variety of chronic conditions, owing to its ability to safely charge healthcare devices, and eliminating the battery need in some cases. These factors are positively aiding the wireless charging market.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Powermat
2. IDT - Integrated Device Technology, Inc.
3. MediaTek
4. Energizer Holdings
5. Qualcomm
6. Texas Instruments
7. WiTricity
8. Murata
9. PowerbyProxi
10. Leggett & Platt Automotive Group

The industrial application segment is expected to witness opportunities due to the need for the technology in highly automated environments such as factories which constantly needs to be charged. With no connectors to be concerned about, a wireless-charging system can be made resistant to stray liquids, dust, or gases. Furthermore, there is no potential risk of an explosion instigated by a stray spark while connecting or disconnecting a current-carrying cable which is providing an impetus to the wireless charging market growth.

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Rise in the usage of wireless charging in several automotive and consumer applications is expected to propel the industry demand over forecast timeline. With ongoing technological advancements in the technology, wireless power charging built into desks, tables, and workstations, will soon become a reality. Several commercial places are implementing these solutions to attract more consumers and are providing hassle-free experience. Initiatives such as smart cities are further anticipated to surge the wireless charging market demand.

Strategic collaborations have been one of the major growth tactics underlining the competitive landscape of wireless charging industry. In this regard, one such major instance was the PowerSphyr-Gill agreement. The California-based wireless charging technology giant, PowerSphyr Inc. acquired Gill Electronics, in a bid to fetch the engineering and production capabilities of the latter in-house. Reportedly, the deal enabled PowerSphyr Inc. to serve a broad range of OEM customers spanning across healthcare, industrial, and automotive sectors.

Inductive technology has penetrated significantly into the wireless charging market and contributed to more than 50% of the global revenue in 2016. WPC’s inductive Qi standard powers a range of smartphones, accessories and products. It can be implemented for close range wireless charging and is highly efficient, cost effective to deploy and easy to design. The technology is mature and the most preferred technology for charging as compared to other technologies and can be scaled up to support bigger products and EVs. Inductive charging is projected to exist in environments where safety, efficiency, and high power, are necessary.

While wireless charging market had been introduced in the international circuit for more than two decades back, its commercialization scope has surpassed escalated levels merely a few years back. This business space has been ablaze with numerous innovations on an annual basis, though 2017, has indeed been a spectacular year for wireless charging industry.

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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The adoption of novel technologies by core companies has a crucial role to play in augmenting the growth graph of wireless charging market. In fact, major tech biggies have already incorporated wireless charging in their flagship phones, whilst the smartphone market hulk – Apple, is also soon expected to switch gears and implement this technology. Speaking of which, some of the prominent players in wireless charging industry include Texas Instruments, Inc., Device Technology, Inc., Mojo Mobility, Inc., WiTricity Corporation, Powercast Corporation, Energizer Holdings, Inc., Powermat Technologies Ltd., Qualcomm Inc., Leggett & Platt Inc., Convenient Power Ltd., PowerbyProxi Ltd., and Murata Manufacturing Co. Ltd. This business space is likely to witness several companies competing for standards, licensing agreements, and technological innovations in the forthcoming years, which validates that wireless charging industry would indeed garner commendable returns over 2017-2024.

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.

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