High Hopes for Global Wireless Charging Market as Consumer Electronics and Automotive Demands Skyrocket

The recharging of smartphone and industrial device batteries through wireless means has been touted as one of the more advantageous forms of wireless conductivity. “Wireless Charging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2023,” is an in-depth investigation on the factors that control the growth of this market, along with a projection of the factors that will continue to control it.

Two key drivers expected to fuel the global wireless charging market now and in the immediate future are the applications of wireless charging in consumer electronics and in wearables. The penetration of wireless charging applications in wearable devices is expected to skyrocket over the coming years, providing its players with ample opportunities and revenue streams. Yet another driver expected to show and accelerated growth for the market is the growing use of wireless charging in the automotive industry. This factor is expected to become stronger over time due to the growing consumption of electric and hybrid vehicles.

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Based on technology used, the global wireless charging market can be segmented into resonant charging, RF charging, and inductive charging. Inductive charging has gathered a staggering majority of the revenue in the market currently, owing to its relatively matured technology and a vast scope of use across all applications. Meanwhile, as research and development efforts continue to bear fruits, resonant and RF technologies are gaining power at a steady but assured rate. Players such as Samsung and Qualcomm have already begun commercializing these charging technologies, citing advantages such as the fast charging of multiple devices simultaneously.

The segmentation of the global wireless charging market can be made on the basis of its product applications, into defense, automotive, medical, industrial, and consumer electronics. At the moment, consumer electronics is leading the global wireless charging market in terms of demand as well as revenue generation. The future of the global wireless charging market will, however, be a more diversified field of applications as the technology progresses and incorporates the rapid charging of more power-intensive devices, such as industrial tools and portable medical electronic devices.

North America remains the leading consumer region for the global wireless charging market, for now. Players are already looking at the massive range of opportunities that are expected to come from Asia Pacific, owing to its exceptionally strong consumption rate of consumer electronics.

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The leading players in the global wireless charging market at the moment, include Texas Instruments, Inc., Duracell Powermat (Procter & Gamble Co.), Qualcomm Inc., Fulton Innovation LLC, Energizer Holdings, Convenient Power HK Ltd., Murata Manufacturing Co. Ltd., Inc, WiTricity Corporation, Oregon Scientific, Inc., Integrated Device Technology, Inc., and Anker. Apart from these key players, the global wireless charging market also includes a list of the world’s prominent mobile phone manufacturers that are expanding their product profile to include wireless chargers, such as HTC, LG Electronics, Nokia, and Samsung.