Wireless Charging Market Size to Reach USD 19.17 Billion by 2028 | Increasing Adoption of Wearable Devices and Rising Smartphone Penetration are Key Factors Driving Industry Growth, says Emergen Research

Vancouver, British Columbia, April 28, 2021 (GLOBE NEWSWIRE) -- The global wireless charging market reached a market size of USD 3.52 Billion in 2020 and is expected to register a significantly robust CAGR of 23.8% during the forecast period, according to latest analysis by Emergen Research. Increasing worldwide adoption of wearable devices is expected to augment global wireless charging market growth over the forecast period. Rising smartphone penetration is expected to further boost global wireless charging market growth going ahead. Launch of advanced and high-end smartphones is resulting in rising need for more reliable, safer, and less-contact charging technologies.  

Wireless chargers are more convenient and can easily transmit power to a device or system without need to exert pressure on the physical charging port. Companies such as Samsung Electronics Co. Ltd. and Apple Inc. have already begun integrating wireless charging into their flagship smartphone range. Despite the fact that this technology is still undergoing development, various electronics companies are attempting to integrate it into existing product lines. The availability of numerous wireless chargers on the market increases the need for uniformity to achieve high compliance with various devices.

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Increasing adoption of wireless charging in industrial applications is expected to accelerate global wireless charging market growth. Wireless charging provides waterproof, airtight, enclosed boards instead of ports, rendering it safe and easier to clean.

However, lower performance than traditional wired charging system and concerns regarding compatibility are key factors expected to hamper growth of the global wireless charging market to some extent during the forecast period.

Some Key Highlights in the Report

• Increasing utilization of resonance technology in wireless chargers to improve spatial freedom is driving revenue growth of the resonance segment, which is expected to register a significantly robust CAGR over the forecast period.
• The healthcare segment is expected to register substantial growth during the forecast period due to increasing usage of wireless chargers for advanced medical equipment in the healthcare industry.
• Factors such as increasing disposable income and shifting preference among consumers towards investing in high-quality consumer electronic devices is resulting in rising demand for consumer electronics and wearable devices in countries in Asia Pacific.
• Key players in the market include Texas Instruments Inc., Samsung Electronics Co., Ltd., Qualcomm Incorporated, WiTricity Corporation, NXP Semiconductors N.V, Powermat Technologies Ltd, TDK Corporation, Energous Corporation, Ossia Inc., and ZenS B.V.
• In December 2019, Qualcomm Incorporated collaborated with Integrated Device Technology, Inc., which is a Renesas Electronics Corporation division. The collaboration focuses on designing fully optimized wireless charging systems with a power of up to 30W to be used in premium smartphones powered by Qualcomm Snapdragon 5G mobile platforms.

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Emergen Research has segmented the global wireless charging market on the basis of technology, end-use, and region:

• Technology Outlook (Revenue, USD Billion; 2021–2028)
  • Radio Frequency
  • Inductive
  • Resonance
  • Others
• End-use Outlook (Revenue, USD Billion; 2021–2028)
  • Consumer Electronics
  • Healthcare
  • Industrial
  • Aerospace
  • Automotive
  • Others
• Regional Outlook (Revenue, USD Billion; 2021–2028)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. U.K.
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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