Wireless Charging Market size worth USD 25.6 billion by 2023

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Wireless Charging Market size worth USD 25.6
billion by 2023 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Wireless Charging Market

• RF wireless charging market share will grow at
  40.5 CAGR estimations over the forecast
  timeline. It is more suited for wearables and
  other small electronic devices that cannot follow
  the principles of alignment to a specific
  position as in the case of inductive technology.
• Inductive wireless charging market size is
  forecast to surpass USD 10 billion by 2023.
  However, the technology necessitates precise
  placement of the target device in order to align
  the coils for initiating and sustaining the
  charging process. It also allows only one device
  per coil for example, users cannot power their
  smartphone as well as smartwatch or any other
  wearable at the same time. Resonant technology
  offers high degree of convenience, since it
  allows charging several devices concurrently and
  does not need direct contact.

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Continued

• Consumer applications will continue leading
  wireless charging market size in the coming
  years, with revenue set to cross USD 15 billion
  by 2023. Apple is working on introducing the
  technology in its flagship iPhone, which is
  projected to propel demand across the segment.
• Major OEMs such as General Motors, Toyota, and
  Audi are working on incorporating the technology
  in their cars. Increasing electric vehicle sales
  will drive technology adoption in the automotive
  space.
• U.S. wireless charging market share represented
  the largest regional industry in 2015. Asia
  Pacific revenue will benefit from high consumer
  electronics sales and growing demand for
  convenience among users.
• Major players include Qualcomm, IDT,
  PowerbyProxi, WiTricity Corporation, etc.
  Companies are looking at technological innovation
  and licensing agreements for strengthening global
  presence.

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Europe wireless charging market size, by
technology, 2012 - 2023 (USD Million)

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360 Analysis

• Application Analysis
• Consumer applications dominated wireless charging
  market share, with revenue set to exceed USD 15.8
  billion by 2023. Growing demand for charging
  devices wirelessly along with increasing
  purchasing power and high degree of convenience
  will provide impetus to this sector.
• Regional Analysis
• U.S. wireless charging market share was over 25
  of the global revenue in 2015. High consumer
  inclination to spend on these devices due to high
  degree of technological awareness and
  advancements will prove favorable for regional
  industry growth. Considerable technological
  proliferation across application segments is also
  a major growth driver.
• Competitive Market Share
• companies include Integrated Device Technology
  (IDT), PowerbyProxi, Qualcomm, and WiTricity
  Corporation.
• In February 2015, PowerbyProxi announced the
  release of an evaluation kit, which caters to the
  consumer electronic devices sector. Qualcomm
  signed Wireless Electric Vehicle Charging (WEVC)
  license agreement with Efacec in December 2015.

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