Global Wireless
Charging Market strategic research study
offers company accounts, industry investors, and industry members with
consequential insights to enable them to make reliable strategic decisions
regarding the opportunities in the global market.
In this report, we
thoroughly examine and analyse the Global market for Wireless Charging so that
market participants can improve their business strategy and ensure long-term
success. This report provides players with useful information and suggests
result-based ideas to give them a competitive advantage in the global Wireless
Charging industry. It will show how other players compete in the global Wireless
Charging Market and explain the strategies you use to differentiate yourself
from other participants.
This Research Report
Answers the Following Questions:
·
How Wireless
Charging market will
grow in the coming year?
·
Will the COVID-19 pandemic surge the demand for such platforms?
·
How are key companies planning to promote benefits of Wireless Charging?
·
What are the industry growth drivers, obstacles, and dynamics?
·
Which segment is expected to lead in the coming years?
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Industry Insights
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.
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.
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