According to the research report titled ‘GLOBAL Wireless Charging Market 2019-2028’, available with Market Study Report, global wireless charging market is expected to register 24.89% CAGR over 2019-2028.
 

Increasing adoption smartphones & other smart wearables, surging demand for effective & convenient charging systems, and escalating sales of electric vehicles are augmenting the growth of worldwide wireless charging industry. Additionally, introduction of products with in-built wireless charging feature as well as rising popularity of smart offices and smart homes are also propelling the market outlook.

 

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On the contrary, expensive and less-efficient wireless charging, dearth of appropriate EV charging technology, along with slow charging pace are known challenges in the marketspace.

 

In terms of component, global wireless charging market is divided into transmitters, and receivers. Based on technology, the marketspace consists of radio frequency, resonant, inductive, and others. Speaking of end-user terrain, the industry is classified into industrial, automotive, aerospace & defense, healthcare, consumer electronics (smartphones, wearable devices, tablets), and others.
 

As per expert verbatim, regionally, Asia Pacific wireless charging industry size is touted to grow momentously over the stipulated timeframe, owing to increasing demand of electric automobiles among the consumers. It is to be noted that electric vehicles market in the region is also sound, creditable to rapid urbanization, increasing discretionary income, and surging population, which simultaneously is expected to boost the growth of wireless charging business domain.  

The competitive landscape of global wireless charging market is defined by companies such as Powermat Technologies Ltd., NXP Semiconductors N.V., Semtech Corporation, NuCurrent Inc., TDK Corporation, Texas Instruments Incorporated, Aircharge, ConvenientPower HK Limited, Infineon Technologies AG, Energous Corporation, Belkin International Inc., Renesas Electronics Corporation, Qualcomm Technologies Inc., Samsung Electroics Co. Ltd., and WiTricity among others.