What’s Driving the Trends in Wireless Charging ICs Market? | Key Companies are Qualcomm, NXP Semiconductors, Texas Instruments, Broadcom, MediaTek, Toshiba, ROHM Semiconductor, Vishay Inter technology

The Wireless Charging ICs Market report research highlights key dynamics of the global sector. The potential of the industry has been investigated along with the key challenges. The current market scenario and prospects of the sector has also been studied.

The growing demand for electric vehicles in the automobile industry is expected to drive the wireless charging ICs market growth. The integration of these components into electric vehicles will provide advanced charging features, which will drive the wireless charging ICs industry growth. Manufacturers of these components will then target their offerings to the automobile industry. With the growing adoption of these vehicles in the future due to several air pollution initiatives by governments, component manufacturers will experience a high demand in the industry creating new opportunities for the wireless charging ICs market.
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The growing demand for miniaturized components in several electronic devices is augmenting the wireless charging ICs market growth. Several advantages provided by the miniaturization of the components are portability, reduction in cost, energy, and material consumption. It also enhances the configuration & design, sensing & control, and the fabrication of the devices. Electronic components, such as semiconductors, capacitors, chips, and electronic circuits, are being manufactured in small sizes to offer portable and slim shapes to electronic devices. Such enhancements and innovations in the semiconductor industry are projected to propel the wireless charging ICs industry.

Receiver ICs are expected to witness a high growth in the wireless charging ICs market. Several advantages offered by the integration of these components include high efficiency, flexibility, and compact design, which will enhance the physical size and the battery life of the devices. These components are integrated into several devices such as tablets, smartphones, smart watches, and several other related accessories. Several component manufacturers are developing new technologies to cater to the demand and specifications of the customer. For instance, Integrated Device Technology, Inc. is offering a dual-mode wireless power receiver IC, which is highly compatible and offers seamless operation for everyday use. These additional features of the component are expanding the industry share of receiver circuits in the wireless charging ICs industry.

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Asia Pacific holds a high industry share in the wireless charging ICs market among other regions. The growing demand for consumer electronic devices, such as smartphones and smart wearables in the region, is expected to drive the wireless charging ICs industry growth. Manufacturers of these components are targeting their products for the consumer electronics market, encouraging developers of smart devices to integrate these components into their devices. Furthermore, incorporating medical devices with these components ensures efficiency and productivity thereby having a high potential for growth, providing an opportunity to the manufacturers. This will spur the growth of the wireless charging ICs market in the future.

Key players operating in the wireless charging ICs market are Qualcomm, Inc., NXP Semiconductors Texas Instruments, Inc., Broadcom Corp., MediaTek, Inc., Toshiba Corp., ROHM Semiconductor, On Semiconductor, Integrated Device Technology, Inc., WÜRTHELEKTRONIK GMBH & CO. KG, ROHM Semiconductor, Vishay Intertechnology, Inc., TDK Corporation, Elytone Electronic Co., Ltd., Linear Technology, among others. These players are competing based on the demand and specifications of their customers. They are 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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