The new report by Expert Market Research titled, 'Global Wireless Charging Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025', gives an in-depth analysis of the global wireless charging market, assessing the market based on its segments like technologies, transmission range, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
- Historical Market Size (2019): USD 9.62 billion
- Forecast CAGR (2020-2025):13.2%
- Forecast Market Size (2025): USD 20.2 billion
Wireless charging solutions offer mobile portability and eliminate the need for bulky charging devices. It provides wireless charging devices with comfort and has penetrated diverse industries, including construction machinery, consumer electronics, as well as automotive. Owing to the frequent power cuts during surgical procedures, wireless technology is rapidly being embraced and applied in healthcare applications. The healthcare sector is, therefore, becoming more involved in the adoption of advanced wireless charge alternatives, which enhance medical device performance.
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Industry Definition and Major Segments
Wireless charging refers to a mechanism that enables battery-powered equipment or devices to be electrically charged without a physical connection to a live energy source. This operates on the Electromagnetic Induction (EMI) principle. In EMI, an electrical current flows through the application of coils to produce an electromagnetic field between the transmitter and the receptor. The simple, safe, and efficient wireless charging technology offers a cost-saving and mobile alternative to conventional wireless charging.
Based on technology, the global wireless charging market is segmented into:
- Inductive Charging
- Resonant Charging
- Radio Frequency Based Charging
The wireless charging market can be broadly segregated based on its transmission range into:
- Short Range
- Medium Range
- Long Range
On the basis of application, the market can be categorized into:
By regional markets, the global wireless charging market can be segmented into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The Asia Pacific is projected to hold the major market share over the forecast period.
Wireless charging systems offer various benefits over traditional charging systems, including durability, ease of handling, as well as electric shock safety, thus, helping the global wireless charging market to expand. The use of wireless charging solutions in cars and the expanding Internet of Things (IoT) are also likely to stimulate the growth of the industry. In addition, the increasing demand and potential for electric vehicles are further expanding their application in the automotive industry, particularly in European countries. The growth of the industry is also being driven by the increase in sales and acceptance of mobile devices and wearable vehicles. In addition, the rising investment in R&D activities is expected to drive the industry growth in the coming years.
Key Market Players
The major players in the market are Leggett & Platt (NYSE: LEG), Incorporated, Energizer, Powermat, WiTricity Corporation, Samsung (KRX: 005930), and Renesas Electronics Corporation (TYO: 6723), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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