The
global wireless charging market is projected to reach USD
22.25 billion by 2022. Increase in the demand for hassle-free charging pads is
driven by factors including entangling of charging cable, insufficient
availability of electric sockets in public places and malfunctioning ports due
to continuous usage. These key factors are expected to increase the popularity of
wireless power systems. Adoption of this technology in sectors such as
healthcare and military services is expected to offer new horizons for market
growth and provide new opportunities to expand.
Compatibility
issues with solution standards set up by wireless charging associations, namely
Wireless Power Consortium (WPC) and Air Fuel Alliance, are expected to pose a
challenge for the manufacturers and distributors over the coming years. Key
market players including Samsung, Qualcomm, and Broadcom act as members of
these associations and play a vital role in the development of innovative
technologies.
Inductive
technology dominated the market with a share of over 50.0% in 2014 owing to
increasing demand from Electric Vehicles (EVs) and widespread application of
WPC’s Qi platform in consumer durables and electronics.
RF
technologies are expected to witness rapid growth and capture market share of
inductive technology over the forecast period. The major advantage of Resonant
technology is its capability to charge multiple devices simultaneously thereby
gaining an edge over RF technology which is tailored for small devices such as
medical implants and wearables.
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Consumer
electronics accounted for over 60.0% share in 2014 owing to increase in
adoption of this technology in tablets and smartphones. The healthcare sector
is estimated to witness a growth rate of over 40.0% from 2015 to 2022.
Deployment of ultra-small devices such as sensory instruments and cybernetic
implants into the body has become a simplified procedure owing to its ability
to be charged wirelessly. Extensive R&D related to the development of new
methodologies and techniques for wireless charging by numerous organizations
namely Stanford University is expected to propel growth over the forecast
period.
Asia
Pacific accounted for a significant share of the global market, which can be
attributed to rising demand for smart devices such as tablets and smartphones
and increase in demand for electric vehicles in the region. Western Europe and
the U.S. form the key regional markets on account of growing consumer
preference and inclination to spend on quality consumer electronic products
designed for the niche segment. Increasing adoption of powering mats and
charging hotspots for consumers by global food chains including McDonalds and
Starbucks is expected to have a positive impact on demand.
Africa
and Latin America are untapped markets and are projected to observe the high
adoption of wireless/cordless charging over the next seven years. The wireless
charging market is characterized by huge investments by industry players to
enhance and optimize existing functionalities. Key players include Qualcomm,
Integrated Device Technology (IDT), PowerbyProxi, Samsung, Broadcom, and
WiTricity Corporation.
Qualcomm
introduced a new cordless docking station 802.11ad WiGig dock which can be used
with snapdragon 820 processor and initiates powering when docked onto the
station. Qualcomm entered into a tie-up with Efacec, which plans to launch
powering options for electric hybrid vehicles. WiTricity has developed
technologically advanced processes to charging in multiple applications
including automotive, consumer electronics, medical and industrial.
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Grand View Research
has segmented the global wireless charging market on the basis of technology,
application, and region:
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)
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market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
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