Global Wireless Charging Market Boosted by High Adoption Rate of Mobile Devices

MarketResearchReports.biz has added a research report to its expanding database on the global market for semiconductors. This report is titled “Global Wireless Charging Market 2016-2020” and provides key data on the trends that affect this market and will continue to affect it in the near future. Within the report are included statistics for market size, future growth rate, and key vendor data.

According to the report, the global wireless charging market is progressing at an extremely optimistic CAGR of 33.0% within a forecast period that starts in 2016 and ends in 2020. The primary driver for this high growth rate of this market is the consistently increasing adoption of wireless electronics such as mobile devices and portable computing devices. Smartphones form one of the greatest segments of consumer electronics and are responsible for a large portion of the current growth rate of the global wireless charging market. Users of smartphones are attracted to the idea of wirelessly charging their phones, as it eliminates the need for a mechanical connection between a charging port and the phone. It also allows a user to use their phone whenever required.

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Another augmentation of wireless charging that is boosting its global market is the integration of wireless chargers into automobiles. With this addition, a consumer does not have to worry about carrying a charger, or carrying different chargers, with them on drives. As long as a mobile device has wireless charging capabilities, it can be charged using the port given in the vehicle. The global wireless charging market will thus grow through the increase in the number of automobile companies placing wireless charging devices into their production vehicles.

In terms of applications, the two major segments of the global wireless charging market are electric vehicles and consumer electronics. In terms of geography, this market is segmented into EMEA, APAC, and the Americas.

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The competitive landscape of the global wireless charging market is considered to be a challenging one, filled with older players that previously were operating in other electronics and semiconductor technologies, such as Duracell, along with promising startups such as Ubeam. This market is still in a nascent stage, which means that while research and development efforts are strong, competitors have to look for top positions using strategies such as providing high-quality products at cheaper rates. Players are using both technology as well as design attributes to distinguish their products in this market in order to create a significant consumer base and gain a larger market share.

The key competitors in the global wireless charging market are WiTricity, Qualcomm, Fulton, and Duracell. Other significant shareholders in the market are Leggett and Platt, Wisepower, Texas Instruments, Pure Energy Solutions, Oregon Scientific, LS Cable & System, Energizer Holding, and Anker.

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