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Market Scenario

Wireless power transmission is not a new concept to this world, it was founded in early 1891 when Nikola Tesla demonstrated the wireless power transmission model to this world without any use of wires. Today, Wireless Charging have various technology such as Inductive Coupling, Capacitive Coupling, RF among others.

High demand for Smartphones

High demand for the smartphones are one of the major driving factor for the market of wireless charging. Consumer electronic segments accounted for 31.53% of market share in the global wireless charging market where Smartphones segment accounted for 51.46% of total market share. Increasing disposable income around the world is leading to the high expenditure on the electronic products which includes purchase of smartphones and wearable devices. A study shows that the total shipment of smartphones around the was estimated to be at 1.5 billion in the year 2016 which is expected to grow at 2 billion shipments by the end of year 2023.

The global Wireless Charging Market Companies is expected to reach USD 24.05 billion by the end of 2023 with 32.56% CAGR during forecast period 2017-2023.

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Wireless Charging Global Market- Competitive Analysis

Wireless Charging market appears to be competitive in the coming years owning to the presence of numerous large players active in regional market. Samsung Electronics, TDK Corporation, Qualcomm Inc., Texas Instrument Inc., and Integrated Device Technology Inc. are some of the companies leading the wireless charging market globally. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.

Key Players:

The prominent players in the market of Wireless Charging market are – Samsung Electronics Co Ltd. (South Korea), Texas Instruments Inc. (U.S.), Integrated Device Technology, Inc. (U.S.), NXP Semiconductors (Netherlands), Powermat Technologies Ltd (Israel), WiTricity Corporation (U.S.), PowerbyProxi (New Zealand), Qualcomm Inc. (U.S.), TDK Corporation (Japan), Convenient Power HK Limited (China) among others.

Wireless Charging Global Market- Segmentation

The Wireless Charging Market can be classified into 4 key segments as follows:

  • Segmentation by Technology: Inductive Coupling and Capacitive Coupling
  • Segmentation by Components: Transmitters and Receivers
  • Segmentation by Application: Consumer Electronics (Smartphones, Tablets, Wearable Device), Industrial, Infrastructure, and Automotive.
  • Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.

Market Research Future Analysis

Warless Charging market is still in the growth phase and new applications are coming in the picture every day. For the purpose of this report, Market Research Future has bifurcated the application segment into consumer electronics, Industrial, Infrastructure, Automotive among others. Consumer electronic segment accounts for the largest market share in the year 2016 whereas Automotive segment has emerged as fastest growing market which is estimated to grow with 36.44% of compound annual growth rate from the year 2017 to 2023.

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