Wireless Charging Market to Witness 13%+ Growth over 2017-2024
Wireless Charging Market to Witness 13%+ Growth over 2017-2024
U.S. will dominate the global wireless charging market revenue during the forecast period on account of incentives provided by the U.S government for the development and the usage of the devices including competitive programs to help encourage suppliers and manufacturers investment in R&D and infrastructure.
SELLBYVILLE, Del., May 2, 2018 /PRNewswire-iReach/ -- According to a latest research report by Global Market Insights, Inc. "Wireless Charging Market share is predicted to be valued USD 14 billion by 2024. Rise in the usage of wireless charging in several automotive and consumer applications is expected to propel the industry demand over forecast timeline. With ongoing technological advancements in the technology, wireless power charging built into desks, tables, and workstations, will soon become a reality. Several commercial places are implementing these solutions to attract more consumers and are providing hassle-free experience. Initiatives such as smart cities are further anticipated to surge the wireless charging market demand.
The technology has evolved to adapt to consumer range and distance requirements. Inductive charging technology is a highly efficient technology that is commercially available for usage. Qi technology is available at a cost-effective, competitive pricing, and is designed to work efficiently with a range of mobile devices. Moreover, the technology is being used in medical implants for advanced medical therapies for a variety of chronic conditions, owing to its ability to safely charge healthcare devices, and eliminating the battery need in some cases. These factors are positively aiding the wireless charging market.
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Inductive technology has penetrated significantly into the wireless charging market and contributed to more than 50% of the global revenue in 2016. WPC's inductive Qi standard powers a range of smartphones, accessories and products. It can be implemented for close range wireless charging and is highly efficient, cost effective to deploy and easy to design. The technology is mature and the most preferred technology for charging as compared to other technologies and can be scaled up to support bigger products and EVs. Inductive charging is projected to exist in environments where safety, efficiency, and high power, are necessary.
The industrial application segment is expected to witness opportunities due to the need for the technology in highly automated environments such as factories which constantly needs to be charged. With no connectors to be concerned about, a wireless-charging system can be made resistant to stray liquids, dust, or gases. Furthermore, there is no potential risk of an explosion instigated by a stray spark while connecting or disconnecting a current-carrying cable which is providing an impetus to the wireless charging market growth.
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A major factor aiding the U.S. wireless charging market growth are the incentives provided by its government for the development and the usage of the wireless charging equipment's. The U.S federal government is providing tax credits of USD 2,500 to USD 7500 for each EV purchased in the country. Increase in adoption of EVs in the country is anticipated to provide the industry several growth prospects. Moreover, several restaurants and coffee shops in the country are implementing the technology to increase the consumer awareness about the brand and provide a hassle-free user experience.
Key players operating in the industry include Powermat Technologies, Texas Instruments, Inc., PowerbyProxi Ltd., Powercast Corporation, Murata Manufacturing Co. Ltd., Mojo Mobility, Inc., WiTricity Corporation, Energizer Holdings, Inc, Qualcomm Inc., Integrated Device Technology, Inc., among others. The wireless charging market is very competitive in nature, and with manufacturers developing and commercializing various technologies which are used in smartphones & tablets and contribute towards the consumer demand.
Buy this industry insights spread across 140 pages with 62 market data tables & 75 figures & charts from the report, "Wireless Charging Market Size By Application (Automotive, Consumer, Industrial, Healthcare, Aerospace & Defense), By Technology (Inductive, RF, Resonant), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, South Korea, Australia, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 - 2024" in detail along with the table of contents:
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Chapter 4. Wireless Charging Market, By Technology
4.1. Global wireless charging market share by technology, 2016 & 2024
4.2. Inductive
4.2.1. Market estimates and forecasts, by region, 2013 - 2024
4.3. Resonant
4.3.1. Market estimates and forecasts, by region, 2013 - 2024
4.4. RF
4.4.1. Market estimates and forecasts, by region, 2013 - 2024
4.4.2. Others
4.4.3. Market estimates and forecasts, by region, 2013 - 2024
Chapter 5. Wireless Charging Market, By Application
5.1. Global wireless charging market share by application, 2016 & 2024
5.2. Automotive
5.2.1. Market estimates and forecasts, by region, 2013 - 2024
5.2.2. Consumer
5.2.3. Market estimates and forecasts, by region, 2013 - 2024
5.2.4. Industrial
5.2.5. Market estimates and forecasts, by region, 2013 - 2024
5.2.6. Healthcare
5.2.7. Market estimates and forecasts, by region, 2013 - 2024
5.2.8. Aerospace & Defense
5.2.9. Market estimates and forecasts, by region, 2013 - 2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/wireless-charging-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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SOURCE Global Market Insights, Inc.
