Global Wireless Charging Market: Key Highlights
- According to the new market research report “Wireless Charging Market by Type (Radio Charging, Inductive Charging, Resonance Charging), by Component (Transmitter, Receiver), by Application (Smartphone & Wearables, Notebooks & Tablets, Power Tools & Service Robots, Multicopters & Electric Toys, Medical Devices, Smart Home & IoT Devices, In-Car Charging, Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2020 to 2027)”, the global Wireless Charging market is estimated to reach USD 46.1 Billion by 2027 at a CAGR of around 21.6% during the review period.
- Wireless charging is gaining market growth in healthcare, consumer electronics, automotive, and manufacturing industry because it offers high mobility and allow small IoT operated devices to get power many feet away from the wireless charger.
- The wireless charging is convenient, safe, and reliable technology to charge and power consumer electronic and other electronic devices without use of any physical wires and cables.
Global Wireless Charging Market: Key Market Dynamics
- Increasing global sales of smartphone & wearable devices and rising need of wireless charging in advanced medical devices will grow the market during forecast period.
- However, lack of standards and mobility issues will hamper the growth of the wireless charging market during projected years. Moreover, Health problems for humans by wireless charging will become challenge for the market.
- Growing electric vehicles and healthcare market in Europe will create some growth opportunities for wireless charging market during study period.
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Global Wireless Charging Market: Regional Overview
- North America
US and Canada are expected to drive the wireless charging market in North America. Mexico will grow at stable rate during forecast period. The high demand for smartphones and other wireless computing devices such as portable PCs, gaming consoles, and tablets are coupled with semiconductor and IoT market in the region will drive the market. Texas Instruments, a leading provider in semiconductor product developed Wireless Power Consortium (WPC) v1.2 Qi-certified 15-W wireless power transmitter. This transmitter supports multiple fast-charging protocols with greater flexibility and various customization options.
Europe is expected to hold second position in wireless charging market during assessment period. Presence of global players such as Infineon Technologies AG and NXP Semiconductors and growing healthcare market will drive the market in Europe. Germany, France, Russia, and Norway will drive the market in Europe. In 2018, NXP Semiconductors received Qi-certification from the Wireless Power Consortium for their MP-A11 fixed-frequency transmitter reference design supporting the Extended Power Profile (EPP) up to 15W, which covers 7.5W charging for the latest iPhones, as well as Samsung Fast Charge.
Global Wireless Charging Market: Key Players Overview
- Infineon Technologies AG:
Infineon Technologies AG engages in the provision of microelectronics and semiconductor solutions In wireless charging, the company provide AC-DC adapters, wireless charging transmitters and wireless charging receivers. The company is a member of Wireless Power Consortium (WPC) and the AirFuel alliance which actively engages in the development of wireless charging and technologies. In Jan 2018, The company launched various solutions for providing wireless charging application for automotive and consumer applications.
- TDK Corporation:
TDK Corporation deals in providing electronic component and magnetic technology. The company currently focusing on providing supporting services for various upcoming applications such as autonomous driving, renewable energy, 5G, AR/VR, robotics, and IoT drones. In wireless charging market, the company provide Tx coil units and modules, Rx coil units and modules, NFC antenna combo RX coil units, and wireless power transfer / NFC antennas sheets (wireless). In 2018, TDK Corporation is entered into partnership with various automotive manufacturers for developing wireless charger for electric vehicles.
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