Wireless Charging ICs Market Is Expected To Attain A Market Value Of US$ 58 Bn By 2027

Although wireless charging is not a new concept, its adoption gained pace over the past decade. Consumer trends suggest a gradual shift toward wireless charging technologies and a large number of consumers are largely in favor of using conventional chargers. However, advancements in charging technologies have paved the way for cutting-edge wireless solutions that are likely to gain traction over the upcoming years. Some of the leading factors that are likely to propel the demand for wireless charging IC solutions include improved consumer convenience, enhanced durability, and protection of electrical connections, among others. These are expected to drive the wireless charging ICs market during the forecast period.

Get Report Details- https://www.transparencymarketresearch.com/wireless-charging-ics-market.html

In addition, as wireless charging ICs offer greater mobility than conventional charging alternatives, the demand is gradually expected to gain momentum during the forecast period. At present wireless charging ICs are available for a range of products, including automobile devices, medical devices, wearable electronics, tablets, and smartphones- a factor that is likely to increase the adoption of wireless charging ICs in the upcoming years. The tectonic shift within the automotive industry toward electric vehicles is another major factor driving the market. At the back of these factors, the global wireless charging ICs market is expected to attain a market value of ~US$ 58 Bn by the end of 2027.

Request Brochure- https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=17789

High Demand for Electric Vehicles to Open Up New Avenues for Market Players

Amidst mounting concerns pertaining to the environment, the automotive sector has primarily been compelled to lean toward advanced sustainable and reliable technological alternatives. Over the past few years, government and regulatory bodies across the world are increasingly supporting the production of electric vehicles by offering incentives, tax exemptions, etc. The soaring interest for electric and hybrid vehicles is expected to play an imperative part in the growth of the global wireless charging ICs market. Over the past decade, dynamic wireless charging ICs have emerged as the ideal solution to charge electric vehicles due to which, the demand for wireless charging ICs is expected to scale new heights. At present, wireless charging IC companies catering to the automobile sector are focusing on improving the driving range of electric vehicles and minimizing energy-storage demands. The adoption of wireless charging ICs is higher in developed nations, including Germany, the UK, the U.S., and South Korea, thus driving the wireless charging ICs market in these countries.

Enquiry Before Buying- https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=17789

At present, government authorities worldwide are allocating increased funds to install electric vehicle charging stations, which is a major factor that is likely to boost the demand for wireless charging ICs in the upcoming months. The wireless charging ICs is tipped to gain significant traction as the need for battery storage is not required leading to the development of lightweight and energy-efficient vehicles. Investments within the wireless charging ICs market are pouring in to develop dynamic wireless charging systems. The development of smart roads, along with the high adoption of autonomous technologies is expected to further propel the prospects of the wireless charging ICs market during the second half of the forecast period.

How Wireless Charging ICs Market will recover after covid19- https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=17789

More Trending Latest Reports by Transparency Market Research:

•Fine Pixel Pitch LED Displays Market- https://www.transparencymarketresearch.com/fine-pixel-pitch-led-displays-market.html
•LED Video Walls Market- https://www.transparencymarketresearch.com/led-video-walls-market.html
•Smart Lighting Market- https://www.transparencymarketresearch.com/smart-lighting-market.html
•eFuse Market- https://www.transparencymarketresearch.com/efuse-market.html
•Chip Scale Package (CSP) LED Market- https://www.transparencymarketresearch.com/chip-scale-package-led-market.html
•Programmable Stage Lighting Market- https://www.transparencymarketresearch.com/programmable-stage-lighting-market.html
•Tunable Diode Laser Analyzer Market- https://www.transparencymarketresearch.com/tunable-diode-laser-analyzer-market.html
•Automotive Lighting Market- https://www.transparencymarketresearch.com/automotive-lighting-market.html

About Transparency Market Research

Transparency Market Research is a global market research reports company providing business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact Us:

Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com

This release was published on openPR.