New Market Opportunities in the Wireless Charging Market

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MarketsandMarkets Presents

New Market Opportunities in the Wireless Charging
Market Wireless Charging Market with COVID-19
Impact by Implementation (Transmitters,
Receivers), Technology (Magnetic Resonance,
Inductive, Radio Frequency), Application
(Consumer Electronics, Healthcare, Automotive),
and Region - Global Forecast to
2026 https//www.marketsandmarkets.com/Market-Rep
orts/wireless-charging-market-640.html
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The overall wireless charging market is expected
to be valued at USD 4.5 billion in 2021 and
projected to reach USD 13.4 billion by 2026, at a
CAGR of 24.6 between 2021 and 2026. The growth
of the wireless charging market is attributed to
the rising adoption of wireless technology in
consumer electronics increase in sales of
electric vehicles and ability to charge multiple
devices. Browse 112 market data Tables and 48
Figures spread through 167 Pages and in-depth TOC
on "Wireless Charging Market with COVID-19 Impact
- Global Forecast to 2026"
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The consumer electronics application is
projected to to hold largest market share of
wireless charging market from 2021 to
2026. Consumer electronic products such as
smartphones, laptops, tablets, MP3s, wearables,
gaming console, and personal digital assistance
(PDAs) are in high demand, especially in the Asia
Pacific region owing to changing consumer
lifestyle preferences, expansion of urban
population, and the growing number of internet
users.  Manufacturers of consumer electronics are
thus increasingly producing wireless charging
products. For instance, in April 2020, OnePlus
announced the Warp Charge 30 wireless charging
support in the OnePlus 8 series launch. The
company has developed a Warp wireless direct
charging architecture that allows real-time
communication between the smartphone and the
customized chip and wireless charger. Ask PDF
Brochure https//www.marketsandmarkets.com/pdfdow
nloadNew.asp?id640 The wireless charging market
in North America is projected to hold the largest
market size during the forecast period. The
region currently dominates the wireless charging
market due to the presence of a large number of
market players including Qualcomm, Energizer,
Plugless Power, and WiTricty. Increasing
advancements in the automotive sector, consumer
electronic products, and medical devices has
encouraged manufacturers to invest heavily in
wireless charging, owing to which the market has
gained traction in the region.
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Key Market Players The wireless charging players
have implemented various types of organic as well
as inorganic growth strategies, such as new
product launches, contracts, partnerships and,
business expansions, to strengthen their
offerings in the market. Energizer Holdings, Inc.
(US), Ossia Inc. (US), Samsung Group (South
Korea), WiTricity Corporation (US), Evatran Group
(US), Leggett Platt (US), Energous Corporation
(US), Powermat (Israel), Momentum Wireless Power
(US), Powercast Corp. (US), Elix Wireless
(Canada), and Zens (Netherlands), are the major
players in the wireless charging market. Request
Free Sample Pages https//www.marketsandmarkets.c
om/requestsampleNew.asp?id640 COVID-19 impact
on the wireless charging market The COVID-19
impact forecast for the wireless charging market
in this report is based on the quarterly and
annual reports of the companies under study.
Primary interviews have confirmed the downward
trend in the wireless charging market in 2020.
However, the market is expected to rise after the
COVID-19 crisis has been neutralized, as
governments have imposed strict policies to
maintain safe environments in all manufacturing
industries. At present, the adoption of wireless
charging is high in the consumer electronics, and
automotive industries.
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Opportunity Increasing efficiency of wireless
charging devices Inductive charging is widely
used for wireless charging of consumer electronic
devices and electric vehicles. Magnetic resonance
allows power transmission at longer distances
between receiver and transmitter, and increases
efficiency. In wireless charging, efficiency
depends upon the power accessible to charge the
device with the wireless transmitter's power. It
is a vital consideration for wireless power, as
it determines how hot the battery has got and how
much power is wasted. The higher the efficiency,
the lesser the cost and size of the charger
required for the same delivered power. Wireless
chargers offer benefits in terms of security,
cost, and efficiency, and rising customer
confidence in such chargers is expected to drive
the growth of the market. Challenge Customer
preference for traditional charging
technology Wired charging offers faster-charging
speed and is less expensive than wireless
charging. Wired chargers are usually provided by
the manufacturers along with the devices. While
it offers mobility and portability, wireless
charging requires devices to be Qi-compatible,
thus proving unsuitable for many products. With
wireless charging pads getting larger, and
adapters getting smaller and more durable,
customers are showing a greater preference for
the traditional charging technology. This is
expected to hamper the rapid adoption of wireless
charging technology.
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