Wireless Charging Market Size, Analytical Overview, Growth Factors, Demand, Trends and Forecast To 2016 - 2023

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 Wireless Charging Market – Overview

Broadly speaking, there are three types of wireless charging. There are charging pads that use tightly-coupled electromagnetic inductive or non-radiative charging; charging bowls or through-surface type chargers that use loosely-coupled or radiative electromagnetic resonant charging that can transmit a charge a few centimeters; and uncoupled radio frequency (RF) wireless charging that allows a trickle charging capability at distances of many feet. Both tightly coupled inductive and loosely-coupled resonant charging operate on the same principle of physics: a time-varying magnetic field induces a current in a closed loop of wire. A magnetic loop antenna (copper coil) is used to create an oscillating magnetic field, which can create a current in one or more receiver antennas. If the appropriate capacitance is added so that the loops resonate at the same frequency, the amount of induced current in the receivers increases.

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This is resonant inductive charging or magnetic resonance; it enables power transmission at greater distances between transmitter and receiver and increases efficiency. Coil size also affects the distance of power transfer. The bigger the coil, or the more coils there are, the greater the distance a charge can travel. In the case of smartphone wireless charging pads, for example, the copper coils are only a few inches in diameter, severely limiting the distance over which power can travel efficiently.

Wireless Charging Market: Overview and Segmentation

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.

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.

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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.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

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