(MENAFN- EIN Presswire)
Market of Wireless charging
According to a Report by Exactitude Consultancy, top companies covered include: Texas Instruments, Samsung Electronics Co. Ltd., Qualcomm Incorporated
The wireless charging market demand is growing rapidly, driven by increased adoption in smartphones, wearables, and electric vehicles.
” - Exactitude Consultancy
LUTON, BEDFORDSHIRE, UNITED KINGDOM, August 28, 2024 /EINPresswire / -- The Global Wireless Charging Market Size Was Valued At USD 4.48 Billion In 2020, And Projected To Reach USD 30.51 Billion By 2029, With A CAGR Of 23.76% From 2024 to 2030.
Market Overview
Huge Potential of High-speed Wireless Connectivity and Increased interest in multi-device charging stations are expected to boost the market. In addition, the technology minimizes damage to device ports and connectors, which increases the life span of devices and decreases maintenance and replacement costs, and this will drive the wireless charging market in the future.
The constant increase in the sales of electric vehicles (EVs) that require convenient and relatively simple charging infrastructure is fueling the growth of the market. The absence of cables and connectors is an advantage of the wireless technology which makes the charging process of EVs considerably smoother and more user-friendly for the owners. This convenience factor is among the key factors that have fuelled the increased adoption of technologies, which are enhancing the strong growth of the wireless charging market.
Access your free sample copy of this strategic report today@:
#request-a-sample
What Information does this report contain?
Historical data coverage: Growth Projections: 2024 to 2030.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.
Wireless Charging Sector: Growth Drivers
Integral smartphone Wireless Charging
Introduction of the Wireless charging standards like the Qi standard has made wireless charging possible on smartphones. According to the statistics, hundreds of millions of smartphones all around the world would be ready to wireless charging by the end of 2021.
Growing Connection of the Internet of Things (IoT)
IoT devices may include environmental switches, tangible asset monitors, and location, which benefits from perpetual power for optimal functionality. Wireless charging brings about an effective power transfer for such devices in that it eliminates the need from cumbersome cables. It is estimated that the IoT currently has approximately 15 Billion internet connected devices in the world. This number is expected to near triple by 2030 reaching nearly 29 billion.
Growing Interest on Wireless Charging Technologies
Latest innovations of EV and consumer electronics charging – Manufacturers and teams of universities are the center for research and development in next generation of wireless charging technology. For example, Stanford introduced a system meant for effective powering of a portable device within the arm's reach some weeks ago. It may take several years, but this technology has a great potential of do away with the power cords within our homes and during traveling.
Competitive Analysis:
In this section, we assess the competitive landscape of the Wireless Charging Market, focusing on key players.
Texas Instruments, Samsung Electronics Co. Ltd., Qualcomm Incorporated, Powermat Technologies Ltd., Energizer Holdings Inc., Sony Corporation, Fulton Innovation LLC, Energous Corporation, Murata Manufacturing Co. Ltd., WiTricity Corporation, Elix Wireless, Integrated Device Technology Inc., Powercast Corp, Momentum Wireless Power
Recent Developments
In July 2023, WiTricity Corporation announced the FastTrack Integration Program for vehicle manufacturers. This streamlined program enables automotive OEMs to begin evaluation as well as testing of electric vehicles with wireless charging in just 90 days. The wireless charging will be fully enabled and operational on the automaker's EV platform using the company's Halo receiver & Halo 11kW charger.
In June 2023, Ossia Inc. announced a partnership with Nichicon Corporation. Nichicon will promote Ossia's Cota Real Wireless Powe by utilizing the Cota Technology in association with Nichicon's SLB Batteries. This partnership will produce a Nichicon branded battery in proximity to a Cota Power Transmitter, which will always receive power. With the Cota Technology, the SLB battery can be charged continuously, offering more convenience and efficiency when powering and charging devices.
In February 2023, SAMSUNG launched SmartThings Hub, the modified version of SAMSUNG's existing wireless charger. SmartThings hub and wireless charger in one Cheapest Matter controller and Thread border router, can tie with smart home automations to Galaxy phone charging.
Full Report of the Wireless Charging Market @:
Segmentation Analysis of the Wireless Charging Market
Market Share Analysis based on the types of Components
The global wireless charging market is divided by various parts that include the charger and the charging pad. As per our estimation, the receiver segment is expected to drive the segment growth during the above-stated period of forecast. The growth of the segment is mainly attributed to the increasing integration of wireless charging receivers in various consumer products like mobile phones, wearables, wireless earbuds and other portable devices. It makes charging easier and encourages consumers to opt for wireless charging solutions. Nonetheless, the transmitters segment may experience a higher CAGR in the upcoming decade as transmitter technologies have recently undergone significant advancements in offering enhanced power, charging efficiency, and signal coverage.
Market Share by Type of Technology
With respect to the kind of technology, the global wireless charging market is segmented into inductive charging, resonant charging, radio frequency, and others. Based on our estimated, the inductive segment will boost the growth of the segment since this is the most typical technology used in wireless charging that ensures convenience and efficiency as well as high usage in various applications. It is therefore quite clear why an inductive system in coupling between transmitter and receiver coils means that less energy is lost during charging to ensure that the correct power delivery is made and to avoid overheating. Besides, the resonant segment is expected to achieve a higher growth rate because of its versatility, as well as the fact that there is no direct physical connection between the charger and the device that exchanges energy over short distances.
Market by Applications
Pivoted on the basis of Applications, the global wireless charging market is categorized on a broad spectrum of verticals such as aerospace & defense, automotive, consumer electronics, healthcare, and industrial. According to the market analysis, the consumer electronics segment is projected to drive the growth of the segment with the largest wireless charging market share during this forecast period. Consumer electronics has devices such as mobile phones, tablet PCs, wireless earphones, and so much more. Such devices have incorporated the use of wireless charging technology and the flexibility of charging devices and options to their users. However the automotive industry is expected to emerge out with a significant CAGR on the backdrop of increasing usage of cordless charging in the electronic vehicle segments.
Regional Analysis
Asia Pacific
Dominantly, the Asia Pacific regional market emerged as the largest market with a market share of more than 45% in 2022. Therefore, the demand for wireless charging infrastructure in Asia Pacific, particularly in countries like China and Japan, is expected to be boosted by the growth in the utilization of electric vehicles (EVs). Additionally, the region is a large consumer of electronics, especially from giants such as China, Japan and South Korea that are prominent manufacturers of electronics devices; this is expected to further drive the market growth in the region.
North America
North America was the second highest market share over the forecast period studied. This growth is attributed to the region's continuing technological development and the increasing demand for the tech in the industries with a focus on the fields of consumer electronics and automotive industries boosting the regional market's growth. An increase in the use of laptops, tablets,smartphones, and other electronic related gadgets will further boost the growth rate of the throughout the forecast period.
Middle East & Africa
The Middle East & Africa is expected to showcase the highest growth rate of over 30 percent throughout the forecasts time span. This growth is due to the rise in utilization of smart devices such as mobile phones and tablet systems in the region. Also, there is an increasing understanding of wireless charging advantage in the region as the wireless charging is viewed as more convenient and safer compared to the wired charging, which would help drive the demand of the wireless charging market during the projected time.
Market Segmentation:
In this section, we provide a breakdown of the Wireless Charging Market into segments based on different criteria, including the type of analysis, industry verticals, and geographic regions.
Wireless Charging Market By Component, 2020-2029, (USD Billion)
Transmitters
Receivers
Wireless Charging Market By Technology, 2020-2029, (USD Billion)
Radio Frequency
Inductive
Resonance
Others
Wireless Charging Market By Application, 2020-2029, (USD Billion)
Automotive
Consumer Electronics
Industrial
Healthcare
Aerospace & Defense
Other
Key Questions Covered in Wireless Charging Market Report:
What is the present Wireless Charging market size in terms of revenue and volume, and how much growth is expected during the forecast period?
Which are the key developments that are anticipated to stimulate Wireless Charging market trends?
Which factors will trigger product demand and how much product consumption is estimated?
What are the upcoming business opportunities and restraints?
Which region will dominate the global Wireless Charging market share?
Top Trending Reports:
Cybersecurity Market
The global Cybersecurity Market is expected to grow at 10.6 % CAGR from 2020 to 2029. It is expected to reach above USD 850.17 billion by 2029 from USD 159.65 billion in 2020.
5G Infrastructure Market
The 5G infrastructure market is expected to grow at 49.5 % CAGR from 2024 to 2030. It is expected to reach above USD 117.34 Billion by 2029 from USD 3.14 Billion in 2020.
Semiconductor & IC Packaging Materials Market
The global semiconductor & IC packaging materials market size is expected to grow at more than 8.06% CAGR from 2020 to 2029. It is expected to reach above USD 54.18 billion by 2029 from a little above USD 26.97 billion in 2020.
Hyper Car Market
The hyper car market is expected to grow at 31.1% CAGR from 2024 to 2030. It is expected to reach above USD 132.64 billion by 2030 from USD 11.7 billion in 2022.
Pre-Engineered Building Market
The global pre-engineered building market size was USD 12.83 Billion in 2020 and is projected to reach USD 15.20 Billion by 2029, exhibiting a CAGR of 12.2% during the forecast period.
Consulting Service Market
The global consulting service market is expected to grow at a 7.58% CAGR from 2024 to 2030. It is expected to reach above USD 361 million by 2029 from USD 187 million in 2020.
Screw Pile Market
The Screw Piles Market is expected to grow at 4.5% CAGR from 2023 to 2029. It is expected to reach above USD 1259.01 million by 2029 from USD 847.20 million in 2022.
Agile Project Management Tools Market
The global agile project management tools market is anticipated to grow from USD 4.24 Billion in 2023 to USD 10.09 Billion by 2030, at a CAGR of 13.20 % during the forecast period.
Cognitive Security Market
The global Cognitive Security market was valued at 13.08 billion in 2022 and is projected to reach 84.24 billion by 2029, growing at a CAGR of 36.4% from 2024 to 2030
Radio Frequency Integrated Circuit (RFIC) Market
The global radio frequency integrated circuit (RFIC) market size is expected to grow at more than 8.98% CAGR from 2024 to 2030. It is expected to reach above USD 50.37 billion by 2029 from a little above USD 23.23 billion in 2020.
We offer customization on the Wireless Charging market report based on specific client requirements:
Customization 20%
Five Countries can be added as per your choice.
Five Companies can add as per your choice.
Free customization for up to 40 hours.
After-sales support for 1 year from the date of delivery.
About Us:
Exactitude Consultancy is a Market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our professional team works hard to fetch the most authentic research reports backed with impeccable data figures which guarantee outstanding results every time for you. So, whether it is the latest report from the researchers or a custom requirement, our team is here to help you in the best possible way.
Contact Us:
Irfan T
Exactitude Consultancy
+1 704-266-3234
email us here
Visit us on social media:
X
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN28082024003118003196ID1108610127