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by James Butler
on March 30, 2021
The global wireless charging market size was valued at USD 1.87 billion in 2014 and is expected to reach USD 22.25 billion by 2022. Future growth opportunities seem to positive on account of increasing adoption of consumer electronic devices such as laptops and smartphones that employ the new technology of wireless charging. Rising need for wireless and hassle-free methods to power different devices amongst end users in industrial sectors including healthcare, automotive, defence and industrial markets is expected to propel market growth in the next eight years. This market is in the growing phase and is observed to experience a wide range of innovations and provide several opportunities to new entrants.
In order to improve existing operations and functionalities,
heavy investments are made by major market players on research and development.
Key emphasis is laid on enhancing and refining the power transmission range
that can enable wireless charging of devices for long distances.
Download Free Sample Report @
https://www.millioninsights.com/industry-reports/wireless-charging-market/request-sample
Application Insights
Nearly 60% of the overall revenue share was occupied by
consumer electronics in 2014. This is expected to continue in the coming years
and become the most dominant segment until 2022. Unavailability of electric
sockets at public places and the need to eliminate the trouble caused by wired
chargers are expected to trigger growth in this market over the forecast period
and gain prominence.
Defence and healthcare are anticipated to surface as one of
the most promising application sectors over the forecast period. Continuous
efforts in research and development at Stanford University has resulted in a
new way to charge sensors wirelessly in addition cybernetic implants, making
way for new generation ultra-small gadgets that can penetrate deep inside the
body.
Standard Insights
Few Associations such as WPC and PMA specialize in inductive
technology, and A4WP’s Rezence is specialized in resonant technology. However,
in June 2015, PMA announced its merger with A4WP and PMA and named it Air Fuel
Alliance in November 2015. Hence, WPC and its Qi platform was the sole
effective platform for inductive technology.
The merger proved to simplify decision making for hardware
developers relieving them from the task of complying with three different
standards. However, the combined body of A4WP and PMA poses few technical
challenges. Qi, similar to PMA, uses closely connected inductive solution in
addition to the newly added specification that employs resonance technology and
provisions backward compatibility for Qi receiver devices such as laptops,
smartphones and tablets.
Technology Insights
Latest technology including resonant and radio frequency
(RF) is anticipated to materialize into one of the attractive technologies in
the industry. Resonant technology is portable and doesn’t require a direct
contact thus providing convenience to customers. It also assists in powering
devices within small distances. Multiple-device charging in a single go is also
a feature of RF-based technology. Owing to its ability to eliminate alignment
in case of small devices such as medical implants and wearables, RF-based
technology is projected to achieve some prominence over the forecast period. On
account of its perceived advantages, several organisations including Humavox
have been heavily investing in this technology.
Nearly 50% of the overall share by revenue was contributed to
by inductive technology which is relatively older to others. Inductive
technology is employed by leading standards and technologies such as PMA and
WPC which use Qi technology. Inductive has thereby spurred market growth
significantly in 2014. Additionally, Electric Vehicles (EVs) also employ
inductive technology for charging purposes.
Regional Insights
Hybrid electric vehicle market is anticipated to be a
promising segment for the wireless charging market. Additionally, it is
expected to gain prominence over the forecast period in the consumer
electronics industry owing to the growing demand for laptops and smartphones.
As of 2014, Asia Pacific contributed to approximately 35% of the global
revenue.
U.S emerged as the major regional market in North America on
account of consumers’ growing inclination towards spending more for powering
options, particularly for tablets, laptops and smart devices. Untapped markets
such as Africa and Latin America are anticipated to experience a growing
adoption of cordless charging over the forecast period hence opening new
avenues for wireless charging networks industry.
Competitive Market Share Insights
Key market players in this domain include Qualcomm,
WiTricity Corporation, Integrated Device Technology (IDT) and Power by Proxi.
Latest developments by various companies include a new launch by Qualcomm in
November 2015 that showcases a wireless docking station 802.11ad WiGig dock
that is coupled with Snapdragon 820 processor. This device has the potential to
initiate power back up when docked on the station.
On the other hand, introduction of new charging techniques
that support multiple applications such as automotive, medical, consumer
electronics and automotive simultaneously was developed by WiTricity. Further,
in December 2015, Qualcomm entered into an agreement with Efacec for Wireless
Electric Vehicle Charging (WEVC). It plans to provide powering alternatives for
all-electric hybrid vehicles and plug-ins.
Market Segment:
Wireless Charging Technology Outlook (Revenue, USD
Million, 2012 – 2022)
• Inductive
• Resonant
• RF
• Others
Wireless Charging Application Outlook (Revenue, USD
Million, 2012 – 2022)
• Automotive
• Consumer
Electronics
• Industrial
• Healthcare
• Defense
• Others
Wireless Charging Regional Outlook (Revenue, USD Million,
2012 – 2022)
• North America
• Europe
• Asia Pacific
• Latin
America
• Middle East
& Africa (MEA)
Browse Full Research Report with TOC @
https://www.millioninsights.com/industry-reports/wireless-charging-market
Table of Contents
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumption
1.3. List of Data Sources
Chapter 2. Executive Summary
2.1. Wireless charging - Industry snapshot and key buying criteria, 2012
- 2022
Chapter 3. Wireless Charging Industry Outlook
3.1. Market segmentation
3.2. Market size and growth prospects
3.3. Wireless charging - Value chain analysis
3.3.1. Vendor landscape
3.4. Wireless charging - Technology roadmap
3.4.1. Wireless charging - WPC vs. AirFuel Alliance
3.5. Wireless charging market dynamics
3.5.1. Market driver analysis
3.5.1.1. Growing demand for smartphones
3.5.1.2. User-friendliness
3.5.1.3. Breakthroughs in wireless charging of medical implants
3.5.2. Market restraint analysis
3.5.2.1. Lack of unified standards
3.6. Key opportunities prioritized
3.7. Industry analysis - Porter's
3.8. Wireless charging - Key competitor analysis
3.8.1. Market strategy overview
3.9. Wireless charging market PESTEL analysis
Continued…
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Topics:
wireless charging