Showing posts with label Wireless Charging Market. Show all posts
Showing posts with label Wireless Charging Market. Show all posts

Wednesday, 27 December 2017

Wireless Charging Market – Technological breakthroughs, Value chain and stakeholder analysis by 2023

Wireless charging is recharging batteries of electrical devices with no physically connected cables. Currently, charging of devices is an important aspect of business is response to power intensive applications. Mobile manufacturers such as Samsung, Nokia, LG Electronics and HTC are positioning phones with wireless charging to drive demand at the high end.
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The global wireless charging market is segmented by application into consumer electronics, industrial, medical, automotive and defense. Consumer electronics is expected to be the largest application segment in the wireless charging market.
On the basis of geography the market is segmented as North America, Europe, Asia Pacific, Middle-east and Africa and Latin America. High volumes of electronics devices such as smartphones and laptops in Asia Pacific make it the most promising region for wireless charging market. However, United States is the largest regional market for wireless charging. Increase in adoption of wireless charging for industrial applications and growing awareness of wireless power technology among consumers propels market growth in this region.
On the basis of technology wireless charging market is segmented as Inductive, RF and Resonant. Inductive technology is mature and has high demand in wireless charging market owing to its use in all the applications. On the other hand, RF and resonant technologies are gaining traction in the wireless charging market. Companies such as Qualcomm and Samsung support resonant technology which allows charging multiple devices simultaneously.
Alliance for Wireless Power (A4WP), Wireless Power Consortium (WPC) and Power Matters Alliance (PMA) are the three groups present in the wireless charging market. Wireless Power Consortium (WPC) uses Qi standard commonly found in smartphones whereas Alliance for Wireless Power (A4WP) uses resonance technology which is still in the early stages of development. Interoperability between these groups is of prime importance for the wireless charging market. Companies such as AT&T are seeking a commitment to one standard of wireless charging from their handset vendors.
Wireless Charging Market: Trends and Drivers
The penetration of wireless charging is expected to increase in wearable devices over the years. Wireless charging market is expected to experience a boom in electrical vehicles too. In-car charging and wireless charging of electrical vehicles are the key trends in the automotive industry. Rise in electrical vehicles manufacturing globally will help in the wireless charging market growth. Significant investments in R&D are being made by the market participants, wherein the leading players are focusing on improving the power transmission range. This would facilitate charging of devices wirelessly over long distances, subsequently expanding the application base. However, retaining the costs low is the key challenge for the wireless charging devices market.
Wireless Charging Market: Competitive Scenario
Wireless charging market is highly fragmented with start-ups and large market participants. Players are trying to distinguish themselves on the basis of quality and affordability. Few of the key players in the wireless charging market include Qualcomm Inc., Fulton Innovation LLC, Texas Instruments, Inc., WiTricity Corporation, Convenient Power HK Ltd., Integrated Device Technology, Inc., Murata Manufacturing Co. Ltd., Duracell Powermat (Procter & Gamble Co.), Energizer Holdings, Inc, Oregon Scientific, Inc. and Anker among others.

Monday, 20 November 2017

Wireless Charging Market: Growth Forecast Analysis by Manufacturers, Regions, Types and Applications to 2024

Although automotive segment is ahead in terms of CAGR, the consumer electronics segment is the most attractive segment in the global wireless charging market

Consumer electronics segment accounts for comparatively higher revenue share in the global wireless charging market and is expected to remain dominant throughout the forecast period. Leading wireless charging solution providers are offering wireless charging solutions for consumer electronic devices. Also, wireless charging solution providers are entering into partnerships with consumers electronic devices manufacturers to develop wireless charging enabled devices. This segment is projected to be the most attractive segment in the global wireless charging market during the forecast period. Consumer electronics segment was valued at a little more than US$ 1,000 Mn in 2015 and is expected to remain dominant throughout the forecast period, accounting for a revenue share of more than 50% by 2024 end.

Increasing usage of smartphones is anticipated to drive the growth of the consumer electronics segment in the global wireless charging market

Demand for wireless charging is witnessing significant increase owing to rising consumer awareness as more number of mobile devices are being launched with embedded wireless charging technology. Technological advancements in mobile devices such as embedded wireless charging technology are creating awareness about wireless charging among consumers. An increasing number of mobile device vendors are incorporating the wireless charging feature in high end models of smartphones, wearable devices, laptops, and notebooks, which is driving adoption of this technology. As a result, the consumer electronics segment is showing robust growth in the global wireless charging market.

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Wireless chargers enable charging of multiple devices at the same time. These devices can be free positioned, which means there is no particular way a device should be placed or positioned for charging. However, it needs to be kept within a particular range or proximity of the wireless charger. This free positioning feature is enabled by resonant technology. This particular factor is creating a positive impact on the consumer electronics segment. Demand for electronics is rising amongst the consumers globally; particularly there is great demand for mobile phones across the globe. Specifically, Asia Pacific represents a vast potential in terms of growth for the global wireless charging market due to the presence of a large population and wider adoption of mobile devices such as smartphones and wearable devices. Companies in China, Japan, and South Korea are investing significantly in wireless charging technology for consumer electronics, thus driving the growth of this segment particularly in the APAC region.

Increasing proliferation of the Internet of Things (IoT) is further boosting the growth of the consumer electronics segment. Growing adoption of the Internet of Things is driving the need for constant power supply for electronic devices connected to the IoT network. As electric charging methods are complicated and are sometimes not compatible with IoT devices, wireless charging is a convenient method to power an IoT network.

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Consumer electronics segment is expected to be the dominant application segment in the North America wireless charging market throughout the forecast period

In terms of revenue, the consumer electronics segment is projected to be the most attractive segment in the North America wireless charging market during the forecast period. The segment accounted for a relatively high revenue share and was valued at more than US$ 400 Mn in 2015. The consumer electronics segment is expected to remain dominant in the North America wireless charging market during the forecast period. In Latin America, this segment was valued at more than US$ 70 Mn in 2015. In APAC, the consumer electronics segment accounted for a relatively high revenue share and was valued at more than US$ 350 Mn in 2015.

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