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Wireless Charging Market 2014-2020 Shares, Trend and Growth Report

07-24-2017 11:36 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Wireless Charging Market 2014-2020 Shares, Trend and Growth

Wireless charging is the process of recharging batteries of electrical devices without using physically connected electric cables. The communication between transmitter (power source) and receiver (device) is generally by microwave or electromagnetic induction. With the emergence of wireless chargeable devices, the need to carry multiple chargers for various devices will become obsolete. Chargeable devices such as mobile phones, and tablets need to be handier. Wireless charging technologies are revolutionizing the current electronic devices market to meet the demand for more efficient, standardized,safe and portable power recharging options.

Wireless charging is more applicable to charge smartphones, tablets and other small handheld devices and wearable technologies. The obvious benefits associated with the use of wireless charging includes efficiency of handling, protection from electric shocks, safe charging option for devices that need to be waterproof, no need formaintenance of charging cables and associated sockets. On the other hand, wireless charging technology is comparatively less efficient, slow, and expensive. Most devices also radiate heat during the charging process.

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The global wireless charging market recently reported its development, due to continuous updation in phones. The demand for sealed devices, increasing demand for powerfor devices and inconvenience associated with carrying multiple chargers are the key drivers behind growth of wireless charging technologies. The key restrains behind wireless charging are lack of standardization and expensive infrastructure to pursue technological developments.Many advanced products are still in experimental phase but on the other hand these products have a bright future opportunity.

Wireless charging can be broadly categorized into two types depending upon proximity of distance between transmitter and receiverand range of devices. Further, these two types can be sub-segmented into six sub categories such as radio charging, inductive charging and resonance charging are included under proximity of distance between transmitter and receiver and high range, mid-range and low range are included under range of devices. On the basis of application,the global wireless charging market is segmented intoconsumer electronics, medical healthcare, automobile & aerospace, defence and industrial automation. On the basis of geographical target market, itis segmented into North America, Latin America, Asia Pacific, Japan, Western Europe, Eastern Europe, and Middle East & Africa.

Companies engagedin the development of wireless charging technologies are in the process of resolving compatibility issues associated with charger and charging points. Manufacturers of different handheld devices, prominently HTC, Nokia and LG, are already in the process of manufacturing wireless chargeable smartphones and tablets. The market experts are focusing on the development of standard wireless charging technology, which will be commonly useful for the advanced devices of various applications such as medical, and semiconductors.

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Some of the global key players in the wireless charging market include Convenient Power HK Ltd., Murata Manufacturing Co. Ltd., Integrated Device Technology, Inc., Texas Instruments, Inc., Duracell Powermat, Oregon Scientific, WiTricity Corporation and Energizer Holdings, Inc.Most of these companies are interested to enter into the wireless charging market with the plan to establish a brand name. The wireless charging market of North America appears to be comparatively mature than Asian market, in terms of infrastructural development. Countries with lower GDP may face economic issues to generate the demand.High price is one of the major challenges of this market and it should be taken care of.

ABOUT US:Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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