Press release
Exploring the Global Wireless Charging IC Market: A Comprehensive Overview
The wireless charging ic market size is expected to see exponential growth in the next few years. It will grow to $8.99 billion in 2028 at a compound annual growth rate (CAGR) of 20.6%. The growth in the forecast period can be attributed to market competition and cost optimization, eco-friendly solutions, rise in electric vehicle adoption, standardization and interoperability, advancements in charging efficiency.. Major trends in the forecast period include miniaturization and increased integration, compatibility across devices, rapid charging and efficiency, advancements in power delivery, adoption in diverse industries..
Market Overview -
Wireless charging, commonly referred to as wireless power transfer, is a method of electrically recharging battery-operated devices such as laptops, cellphones, and electric cars without the need for a cable connection. It is used in electromagnetic waves to wirelessly charge gadgets and transfer energy. Wireless charging ICs include precise power supply, tiny size, compact design, and lightweight operation.
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Smartphone And Smartwatch Proliferation Driving Growth In Wireless Charging Ic Market
The higher penetration of smartphones and smartwatches is expected to propel the growth of the wireless charging IC market going forward. A smartwatch is a type of wearable device that looks similar to a wristwatch or other type of timepiece, whereas a smartphone is a mobile phone with computer features that allow users to send and receive emails, access the internet, and communicate with other computerized systems. Numerous electronics, including smartphones, smartwatches, wearables, computers, and others, can be charged wirelessly. The market is expected to grow as wireless charging of smartphones and smartwatches necessitates the use of wireless charging ICs. For instance, according to a report published by Uswitch Limited, a UK-based online and telephone comparison, and switching service, in 2022, 71.8 million mobile connections were active. There will be 68.3 million people living in the UK by 2025, and 95% of them will have smartphones in their hands. Therefore, higher penetration of smartphones and smartwatch fuels will drive the growth of the wireless charging IC market.
Competitive Landscape -
Major companies operating in the wireless charging ic market report are NXP Semiconductors N.V., Broadcom Corporation, Toshiba Corporation, Semiconductor Components Industries LLC, Qualcomm Inc., Texas Instruments Inc., ROHM Semiconductor, Vishay Intertechnology Inc., Analog Devices Inc., MediaTek Inc., Integrated Device Technology Inc., Infineon Technologies AG, STMicroelectronics, Semtech Corporation, Samsung Electronics Co. Ltd., Elix Wireless Inc., Zens GmbH, Devicers Inc., Powermatters Inc., WiTricity Corporation, Plugless Power Inc., Energizer Holdings Inc., Eaton Corporation plc, LG Electronics Inc., Sharp Corporation, Panasonic Corporation, Sony Group Corporation, TCL Corporation, Xiaomi Corporation, Huawei Technologies Co. Ltd. .
Technological Advancements Thrives Wireless Charging Ic Market
Technological advancements have emerged as a key trend gaining popularity in the wireless charging IC market. Major companies operating in the wireless charging IC market are focused on developing advanced technologies and solutions to strengthen their position in the market. For instance, in October 2021, Spark Connected, a US-based wireless power technology firm, launched The Beast 2.0, which is an automotive in-cabin wireless charging solution with TDK's (TDK Corporation, a Japan-based electronics corporation) newest pattern coil technology. The new Beast 2.0 is a Qi v1.3-compliant 15-watt car in-cabin wireless charging solution. With continuous charging even during vehicle stop/start events, it offers a wide input supply range, and improved user safety features such as Foreign Object Detection.
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Key Segments -
The wireless charging ic market covered in this report is segmented -
1) By Type: Receiver IC, Transmitter IC
2) By Power Range: Low Range, Medium Range, High Range
3) By Application: Smartphones, Tablets, Medical Devices, Wearable Electronic Devices, Other Applications
4) By Industry Vertical: Consumer Electronics, Automotive, IT and Telecommunication, Oil and Gas, Mining, Healthcare, Other Industry Verticals
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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