Dublin, Jan. 21, 2019 (GLOBE NEWSWIRE) -- The "Global Wireless Charging Market Analysis & Forecast (2018-2023): Focus on Applications, Components, Technology, Implementation & Geography" report has been added to ResearchAndMarkets.com's offering.
The global Wireless Charging market is expected to witness a significant growth during the forecast period registering a CAGR of 40.97% and 37.34% in terms of volume and value respectively.
The global wireless charging market is driven by several factors such as increased shipments of smartphones and other wearable devices, standardization of regulations for wireless charging, and increasing in-built wireless charging options in various applications such as tables, side stools, and in-vehicle, among others. Innovations and ongoing research in the consumer electronic devices such as smartphones and wearable devices have been fuelling the growth for wireless charging market.
Wireless charging is the next big thing in the smartphone industry, and many manufacturers have already started manufacturing smartphones enabled with wireless charging. However, the majority of the phones with wireless-enabled technology fall under the premium smartphone category at present. As the market grows and the demand for wireless power transmission increases, the technology will be embedded in various devices such as drones, laptops and handheld devices, among others and mid and low-range devices as well.
The challenges that restraint the growth of the global wireless charging market are; lack of fast charging options in wireless charging systems, high price, and low efficiency achieved, among others. Hence, wireless charging technology has not witnessed a popular adoption by consumers. Also, the technological advancements in the wired-charging for smartphones have resulted in the development of fast-charging options available with wired charging systems, which is one of the prominent challenges that the wireless industry needs to tackle for the growth of its market.
Wireless charging or power transfer takes place when energy is transferred as electromagnetic waves from a transmitter to a receiver. On the basis of technology, the Wireless Charging market includes Inductive, Resonant and Radio Frequency (RF) technology-based wireless chargers, among others.
Inductive wireless charging is currently the most adopted solution for wireless charging and accounted for approximately 100% of the global wireless charging market in 2017. Inductive wireless charging technology transfers power using an electromagnetic field from the inductive coupling. The power is transferred from a transmitter using an induction coil to create alternating electromagnetic current, to a receiver coil, thereby creating an electromagnetic field. The electromagnetic field is then converted to an electric current, and the current is used to charge a device. Establishment of Qi (pronounced as chee') standard, has significantly catered to the growth of inductive wireless charging technology. Most of the smartphone manufacturers, which constitute a significant share of the wireless charging market, have adopted the Qi standard for wireless charging.
Region-wise, North America dominated the global wireless charging market in terms of volume and value in the year 2017. In the U.S. specifically, adoption of wireless charging for industrial applications, such as factory automation and high-power industrial equipment; and increasing awareness of wireless technology among consumers are some of the significant factors leading to the increased adoption of wireless charging. With the demand of electric vehicles (EV) rising at an exponential rate; various EV manufacturers are now moving to wireless charging systems.
For instance, BMW 530e is one of the models offered by BMW in the U.S., which offers wireless charging systems for its consumers. Consumer electronics is also one of the key application areas for wireless charging in the country. The steady introduction and implementation of wireless technology in Samsung's Galaxy smartphones, the Apple watch, and other wearable devices are also expected to boost the demand for wireless charging for consumer electronics in the country.
The global wireless charging market has witnessed several strategic and technological developments in the past few years, undertaken by different market players in their attempt to attain their respective market shares. Some of the strategies that the companies conduct and that are covered in this report are product launches, partnerships and collaborations, and mergers and acquisitions. The preferred strategy for the companies has been partnerships and collaborations that help them strengthen their positions in the global wireless charging market.
Key Topics Covered:
Executive Summary
1 Market Dynamics
1.1 Introduction
1.2 Market Drivers
1.2.1 Increasing shipments of Smartphones and other Wearable Devices fuelling the demand
1.2.2 Standardization of Regulations for Wireless Charging
1.2.3 Increasing In-built Wireless Charging Options in various applications
1.3 Market Restraints
1.3.1 Fast Charging: Priority for Customers
1.3.2 High Price and Lower Efficiency of Wireless Charging
1.4 Market Opportunities
1.4.1 Wireless Charging Infrastructure for Electric Vehicle (EV)
1.4.2 Far-Field Wireless Charging
1.4.3 Internet of Things (IoT) and Wireless Charging
2 Competitive Landscape
2.1 Key Strategies and Partnerships
2.1.1 Product Launches
2.1.2 Partnerships, Joint Venture and Collaborations
2.1.3 Business Expansion
2.1.4 Others
2.1.5 Merger & Acquisition
2.2 Industry Attractiveness
2.3 Leading Player Analysis
3 Industry Analysis
3.1 Patent Analysis
3.2 Consortium and Associations
3.3 Supply Chain Analysis
4 Global Wireless Charging Market, By Technology
4.1 Assumptions & Limitations
4.2 Wireless Charging Technology Market Overview
4.3 Inductive Technology
4.4 Resonant Technology
4.5 RF Technology
4.6 Others
5 Global Wireless Charging Market, By Implementation
5.1 Market Overview
5.2 Receivers Market, by Implementation
5.2.1 Integrated
5.2.2 Aftermarket
5.3 Transmitters Market, by Implementation
5.3.1 Integrated
5.3.2 Aftermarket
6 Global Wireless Charging Market, by Application
6.1 Market Overview
6.2 Global Receivers Market for Wireless Charging, by Application
6.2.1 Consumer Electronics
6.2.1.1 Smartphones & Tablets
6.2.1.2 Smart Wearables
6.2.1.3 Others
6.2.2 Healthcare
6.2.3 Automotive
6.2.4 Others
6.3 Global Transmitters Market for Wireless Charging, by Application
6.3.1 Consumer Electronics
6.3.2 Commercial
6.3.2.1 Hospitality
6.3.2.2 Public Avenues
6.3.2.3 Office & Education
6.3.3 Automotive
6.3.3.1 In-Vehicle
6.3.3.2 Electric Vehicle
6.3.3.3 Others
7 Global Wireless Charging Market (by Region), $Million and Units Million, 2017-2023
7.1 North America
7.1.1 North America Wireless Charging Market (by Country)
7.1.1.1 U.S.
7.1.1.2 Canada
7.1.1.3 Mexico
7.2 Europe
7.2.1 Europe Wireless Charging Market (by Country)
7.2.1.1 Germany
7.2.1.2 France
7.2.1.3 U.K.
7.2.1.4 Rest-of-Europe
7.3 Asia-Pacific
7.3.1 Asia-Pacific Wireless Charging Market (by Country)
7.3.1.1 China
7.3.1.2 India
7.3.1.3 Japan
7.3.1.4 South Korea
7.3.1.5 Rest-of-Asia-Pacific
7.4 Rest-of-the-World (RoW)
7.4.1 RoW Wireless Charging Market (by Country)
7.4.1.1 Middle East & Africa (MEA)
7.4.1.2 Latin America
8 Company Profiles
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