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 a compound annual growth rate of 24.89% during 2019-2028.
 

Growing demand for effective and convenient charging systems coupled with proliferating sales of smartphones and wearable devices are key factors driving the growth of global wireless charging market.
 

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Shifting preferences towards smart offices and smart homes in tandem with increasing popularity of electric vehicles are also stimulating the overall industry outlook. Technological advancements have allowed for development of products with built-in wireless charging, which in turn is adding traction to the overall market size.
 

However, high costs and less efficiency associated with the technology coupled with lack of adequate EV charging infrastructure could act as restraining factors to the growth of global wireless charging market.
 

As per component type, the market is split into receivers and transmitters segments. In terms of technology, the industry is classified into radio frequency, resonant, inductive, and other technologies.
 

The end-user scope of global wireless charging market consists of aerospace & defense, healthcare, industrial, consumer electronics, automotive, and others. The consumer electronics segment is further bifurcated into wearable devices, tablets, smartphones, and others.
 

Considering the geographical landscape, Asia-Pacific market is expected to showcase a strong CAGR through 2028. Growing demand and mounting sales of automobiles, rising adoption of electric vehicles, swift urbanization, and surging disposable income are facilitating the business scenario in Asia-Pacific.
 

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