May 26, 2020
As per the report titled ‘Wireless Charging Market Size By Technology, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, global wireless charging market is expected to record a healthy growth rate during 2020-2026.
Wireless charging is a reliable, convenient, and safe technology as it does not produce any electrical shock or sparks. Wireless charging devices are rust free and usually unaffected by water. These factor along with advantages like low power consumption and time efficiency are fueling the growth of wireless charging market.
Notably, wireless charger charges the device by transferring power through electromagnetic induction. Currently, these chargers are largely used to recharge the battery of smartphones. Thus, increasing sales and escalating demand for advanced smartphones is further boosting the market growth.
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Based on the technology scope, RF segment is anticipated to see modest gains over the forecast period. The growth is attributable to high demand for RF based chargers owing to their ease of use and high convenience. These chargers allow users to ‘drop & charge’ their devices without the need for any precise placement during the charging process. The technology enables harvest of radio frequency based energy from dedicated or ambient sources. Wireless charging devices with RF technology consume less power and offers reliability and usability, thereby stimulating the segment growth.
Speaking of the application spectrum, aerospace & defense segment is expected to gain considerable traction during the analysis period. Implementation of wireless charging systems to charge military robots is driving segment growth. For instance, the U.S Navy is reported to construct an underwater charging station for its unmanned undersea vehicles or submarine. Wireless charging technology will further enable drones to be recharged at sea without the use of cables. Deployment of charging stations at distant locations where UUVs operate will proliferate the demand for wireless charging systems from military application.
From a regional perspective, Europe wireless charging market is expected to grow considerably over the estimated timeframe, owing to supportive government initiatives for the implementation of wireless charging technologies in the healthcare sector.
Meanwhile, Latin America wireless charging market is also experiencing a positive growth due to increasing automotive production across Mexico and Brazil.
Major players operating in global wireless charging market are Convenient Power Ltd., Integrated Device Technology, Inc., Energizer Holdings Inc., Evatran LLC (Plugless Power), GETPOWERPAD, Leggett & Platt, Inc., Mojo Mobility, Inc., MediaTek, Inc., Powermat Technologies, Murata Manufacturing Co. Ltd., Samsung Electronics, Co., Ltd., Powercast Corporation, Qualcomm Incorporated, WiTricity Corporation, and Texas Instruments, Inc.