Growing demand for wireless charging technology and systems in the healthcare industry and for electric vehicles are among some key factors driving global wireless charging market growth.
Vancouver, BC -- (SBWIRE) -- 04/15/2021 -- The global wireless charging market size reached USD 3.52 Billion in 2020 and is expected to register a significantly robust CAGR of 23.8%, during the forecast period, according to latest analysis by Emergen Research. Global wireless charging market growth is primarily driven by growing demand for wireless charging technologies and devices, and demand is especially high in the healthcare industry. Growing demand for electric vehicles is further expected to boost growth of the global wireless charging market growth over the forecast period. Demand for electric cars is growing at a rapid pace due to advantages such as reduced maintenance and cost-effective functionality. Electric vehicles (EVs) are powered by battery packs, which are charged with electricity.
The latest report entails a comprehensive analysis of this particular business vertical while providing precise information related to the different industry segmentations. The report captures the essence of the market, offering details on its different valuations, present scenario, volume consumption, revenue share over the projected period. In addition, the report largely focuses on delivering information regarding the geographical outlook of the global Wireless Charging market, as well as the companies and organizations dominating the market.
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Some Key Highlights in the Report
Inductive segment revenue is expected to expand at a significant CAGR during the forecast period. Increasing application of inductive technology for smartphones, smartwatches, laptops, and Qi wireless charging protocol is expected to boost growth of this segment.
In terms of revenue, the consumer electronics segment is expected to lead due to rising adoption of wireless chargers for consumer electronic products.
Increasing developments in the automobile industry and rising demand for wireless charging for consumer electronics and medical equipment is prompting manufacturers to investment into wireless charging technologies in countries in North America, which is expected to further support growth of the market in the region over the forecast period.
Key players in the market include Texas Instruments Inc., Samsung Electronics Co., Ltd., Qualcomm Incorporated, WiTricity Corporation, NXP Semiconductors N.V, Powermat Technologies Ltd, TDK Corporation, Energous Corporation, Ossia Inc., and ZenS B.V.
In October 2019, WiTricity Corporation entered into a technology transition and license deal with Green Power. The partnership allows Green Power to exploit the reference model and emerging technology development for WiTricity's wireless electric vehicle charging solutions.
Wireless Charging Market Segmentation:
Emergen Research has segmented the global wireless charging market on the basis of technology, end-use, and region:
Technology Outlook (Revenue, USD Billion; 2021–2028)
Radio Frequency
Inductive
Resonance
Others
End-use Outlook (Revenue, USD Billion; 2021–2028)
Consumer Electronics
Healthcare
Industrial
Aerospace
Automotive
Others
The research study also offers insights into various regulatory frameworks and evaluates the growth of the industry in each key region of the world. The report also provides an assessment of the micro and macro-economic factors influencing the growth of the market in the mentioned regions. The global Wireless Charging market is segmented into the following based on the key regions of the world:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Factors influencing market remuneration:
The global Wireless Charging market report includes a detailed study of the product spectrum of the market and further describes the different product types, including One-sided, Two-sided, and Others.
The report zeroes in on the overall market dynamics and presents information with regard to the producers and distributors, manufacturing cost structure, and downstream buyers.
Details pertaining to the expected growth rate, industry share, revenue accumulated, and product segmentation are depicted in this report.
The application landscape of the global Wireless Charging market can be categorized into For Human, For Animals, and Others.
The study further examines the industry share and product demand of each application, coupled with the predicted growth patterns of the various application segments.
Other vital factors, such as market concentration ratio and raw material processing rate, have also been covered under the latest study.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Key Insights
Chapter 4. Wireless Charging Market Segmentation & Impact Analysis
4.1. Wireless Charging Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growing wireless charging demands in the healthcare industry
4.2.2.2. Growing demand for electric vehicle
4.2.2.3. Increasing penetration of smartphones
4.2.2.4. Increasing worldwide adoption of wearable devices
4.2.3. Market restraints analysis
4.2.3.1. Higher costs of production than the standard wired method
4.2.3.2. Lower performance than the traditional wired charging system
4.2.3.3. Concerns regarding compatibility
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Wireless Charging Market By Technology Insights & Trends, Revenue (USD Billion)
5.1. Technology Dynamics & Market Share, 2020 & 2028
5.1.1. Radio Frequency
5.1.2. Inductive
5.1.3. Resonance
5.1.4. Others
CONTINUED..!!
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