According to an Allied Market Research report titled “Global Wireless Charging Market by Technology and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018-2025”, the global wireless charging market was valued at $5,220.0 million in 2017, and is projected to reach $71,213.0 million by 2025, registering a CAGR of 38.7% from 2018 to 2025. Presently, Asia-Pacific dominates the market, followed by North America. In 2017, the U.S. is expected to remain dominant in the North America market, while China is projected to lead the overall market in Asia-Pacific.
Report Illuminations
- Electric vehicles offer multiple advantages such as reduced fuel consumption and emissions from the tailpipe, thus fueling the demand for wireless charging systems. Wireless charging for electric or plug-in hybrid vehicle is expected to experience an increase in demand in a short period of time.
- Nordic Semiconductor, a fabless semiconductor company that specializes in ultra-low power performance wireless system has announced Bluetooth smart solution for Rezence wireless charging that uses the principles of magnetic resonance. This technology helps for out of band (OOB) charging management functions.
- Constant development of portable electronics as well as wearables market, and frequent need of harvesting ambient RF energy are expected to drive the wireless charging market during the forecast period.
- Expensive technology for wireless-charging integration and slower charging as compared to other charging technologies are expected to hamper the growth of the market.
- Based on technology, the inductive segment generated the highest revenue in the wireless charging market in 2017 and is expected to remain dominant during the forecast period.
- Based on industry vertical, the automotive segment generated the highest revenue followed by electronics and industrial.
- The inductive segment is estimated to generate the highest revenue in the global wireless charging market in 2017.
- In 2017, the automotive industry is projected to be the highest revenue contributor in the industry vertical segment.
- Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.
- In 2017, Asia-Pacific contributes the highest market revenue, followed by, North America, Europe, and LAMEA.
- The key players profiled in the report are Samsung Electronics Co., Ltd., Qualcomm Incorporated, Texas Instruments, Inc., Integrated Device Technology, Inc., Powermat Technologies Ltd., WiTricity Corporation, Energizer Holdings, Inc., Murata Manufacturing Co. Ltd., Sony Corporation, and Fulton Innovation LLC.
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