Press release
Global Wireless Charging Market to Grow Significantly owing to Surging Prospects for New Applications
A new report from Transparency Market Research, titled ‘Wireless Charging Market - Global Industry Size, Market Share, Trends, Analysis, and Forecast 2016 - 2023,’ states that the global market is likely to benefit from factors such as the increasing demand for wireless charging enables smartphones, ease of use, and the increasing consumer preference for wireless connectivity.Almost five years ago, the micro USB was first introduced in the global market. Industry experts were then doubtful about how its enhancements and higher versions would work. The success of the micro USB led to the introduction of advanced and innovative wireless charging technology. Today, wireless charging has become one of the transformational technologies across the world. In terms of usability, speed, and comfort, wireless charging has become far better than the traditional micro USB. Wireless charging has now become one of the must-have features for many of the new devices such as smartphones, tablets, portable speakers, and smart watches. Currently, the wireless charging market is in its growth phase. Leading players in the global wireless charging market are taking efforts to significantly invest in research and development activities to enhance current features and functionalities of wireless charging.
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End users are currently exhibiting a trend to eliminate the difficulties of wired electronic devices. Inductive technology and radiation technology are two of the important technologies utilized in wireless charging devices. Short-range, medium-range, and long-range wireless charging technologies find application in many industry verticals such as automotive, defense, health care, industrial, and consumer electronics.
Based on region, the global wireless charging market is divided into Europe, North America, Asia Pacific, and Rest of the World. Asia Pacific is expected to be the most profitable market for consumer electronic devices such as smartphones and laptops. In terms of revenue, the Asia Pacific wireless charging market is expected to maintain its dominance in the years to come due to the adoption of newly introduced technologies.
The global wireless charging market is primarily driven by factors such as the capacity of wireless charging to charge several devices and user-friendly nature of wireless charging solutions. Going forward, the global wireless charging market is expected to be benefited by factors such as the increasing scope for new applications and the rising competence of wireless charging devices. On the contrary, factors such as the lack of standardized government regulations for wireless charging solutions and the many compatibility issues are predicted to hamper the growth of the global wireless charging market in the years to come. Also, lack of standards to manage wireless charging solutions are expected to affect the global market in the long run.
Some of the leading companies operating in the global wireless charging market are Integrated Device Technology, Powerbyproxi Ltd., Energizer Holdings, Inc., Convenient Power HK Limited, Texas Instruments Incorporated, Leggett & Platt, Incorporated, Witricity Corporation, Qualcomm Incorporated, Murata Manufacturing Co. Ltd., and Powermat Technologies Ltd.
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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