Wireless Charging Market Research by 2022: Growth Area Lee Nguyen USA Jersey , Consumption and Opportunities by rajshukla2017 · January 3, 2019
Industry Insights
03 January 2019: The Global Wireless Charging Market Size was valued at USD 1.87 billion in 2014 and is expected to reach USD 22.25 billion by 2022. Future growth opportunities seem to positive on account of increasing adoption of consumer electronic devices such as laptops and smartphones that employ the new technology of wireless charging. Rising need for wireless and hassle-free methods to power different devices amongst end users in industrial sectors including healthcare, automotive Landon Donovan USA Jersey , defence and industrial markets is expected to propel market growth in the next eight years. This market is in the growing phase and is observed to experience a wide range of innovations and provide several opportunities to new entrants.
In order to improve existing operations and functionalities, heavy investments are made by major market players on research and development. Key emphasis is laid on enhancing and refining the power transmission range that can enable wireless charging of devices for long distances.
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Key market players in this domain include Qualcomm, WiTricity Corporation Kyle Beckerman USA Jersey , Integrated Device Technology (IDT) and Power by Proxi. Latest developments by various companies include a new launch by Qualcomm in November 2015 that showcases a wireless docking station 802.11ad WiGig dock that is coupled with Snapdragon 820 processor. This device has the potential to initiate power back up when docked on the station.
On the other hand, introduction of new charging techniques that support multiple applications such as automotive, medical Kellyn Acosta USA Jersey , consumer electronics and automotive simultaneously was developed by WiTricity. Further, in December 2015, Qualcomm entered into an agreement with Efacec for Wireless Electric Vehicle Charging (WEVC). It plans to provide powering alternatives for all-electric hybrid vehicles and plug-ins.
Application Insights Nearly 60% of the overall revenue share was occupied by consumer electronics in 2014. This is expected to continue in the coming years and become the most dominant segment until 2022. Unavailability of electric sockets at public places and the need to eliminate the trouble caused by wired chargers are expected to trigger growth in this market over the forecast period and gain prominence.
Defence and healthcare are anticipated to surface as one of the most promising application sectors over the forecast period. Continuous efforts in research and development at Stanford University has resulted in a new way to charge sensors wirelessly in addition cybernetic implants Justin Morrow USA Jersey , making way for new generation ultra-small gadgets that can penetrate deep inside the body.
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Few Associations such as WPC and PMA specialize in inductive technology, and A4WP鈥檚 Rezence is specialized in resonant technology. However, in June 2015 Julian Green USA Jersey , PMA announced its merger with A4WP and PMA and named it Air Fuel Alliance in November 2015. Hence, WPC and its Qi platform was the sole effective platform for inductive technology.
The merger proved to simplify decision making for hardware developers relieving them from the task of complying with three different standards. However, the combined body of A4WP and PMA poses few technical challenges. Qi Juan Agudelo USA Jersey , similar to PMA, uses closely connected inductive solution in addition to the newly added specification that employs resonance technology and provisions backward compatibility for Qi receiver devices such as laptops, smartphones and tablets.
Technology Insights
Latest technology including resonant and radio frequency (RF) is anticipated to materialize into one of the attractive technologies in the industry. Resonant technology is portable and doesn鈥檛 require a direct contact thus providing convenience to customers. It also assists in powering devices within small distances. Multiple-device charging in a single go is also a feature of RF-based technology. Owing to its ability to eliminate alignment in case of small devices such as medical implants and wearables Jozy Altidore USA Jersey , RF-based technology is projected to achieve some prominence over the forecast period. On account of its perceived advantages, several organizations including Humavox have been heavily investing in this technology.
Nearly 50% of the overall share by revenue was contributed to by inductive technology which is relatively older to others. Inductive technology is employed by leading standards and technologies such as PMA and WPC which use Qi technology. Inductive has thereby spurred market growth significantly in 201. Additionally, Electric Vehicles (EVs) also employ inductive technology for charging purposes.
Regional Insights
Hybrid electric vehicle market is anticipated to be a promising segment for the wireless charging market. Additionally Jorge Villafana USA Jersey , it is expected to gain prominence over the forecast period in the consumer electronics industry owing to the growing demand for laptops and smartphones. As of 2014, Asia Pacific contributed to approximately 35% of the global revenue.
U.S emerged as the major regional market in North America on account of consumers鈥?growing inclination towards spending more for powering options, particularly for tablets Jordan Morris USA Jersey , laptops and smart devices. Untapped markets such as Africa and Latin America are anticipated to experience a growing adoption of cordless charging over the forecast period
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03.01.2020 03:41
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