Chicago, March 05, 2024 (GLOBE NEWSWIRE) -- The wireless charging market size is estimated to be worth USD 6.4 billion in 2024 and is projected to reach USD 16.0 billion by 2029 at a CAGR of 20.3% during the forecast period. The market growth for wireless charging is attributed to the increasing demand for wireless charging in electric vehicles, rising demand of smart and portable devices.
Wireless Charging Companies include:
- Energizer (US),
- SAMSUNG (South Korea),
- Plugless Power Inc. (US),
- Ossia Inc. (US), and
- Qualcomm Technologies, Inc. (US).
The market players have adopted various strategies, including the advancement of products, collaborative partnerships, contractual agreements, business expansions, and acquisitions, all aimed at fortifying their market standing. These comprehensive strategies, both organic and inorganic, have facilitated the global expansion of market players through the provision of sophisticated wireless charging.
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Energizer is primarily known as a global leader in battery manufacturing, producing a wide range of batteries for various electronic devices and lighting products. It also designs and manufactures automotive products for recognized brands such as Armor All, A/C Pro, Bahama & Co., Driven, Eagle One, California Scents, LEXOL, Refresh Your Car, Nu Finish, and STP. The company operates in two business segments namely Batteries & Lights, and Auto Care. The company deals in two of types of wireless chargers: chargers based on the Qi wireless charging standard, and those based on magnetic resonance charging technology. Energizer has operations in more than 40 locations as well as distributors in more than 140 countries in Latin America, Western Europe, Asia Pacific, Middle East, and Africa.
SAMSUNG is one of the world’s leading multinational electronics conglomerates. The company operates through four business divisions: Device eXperience (DX), Device Solutions (DS), SDC, and Harman. The DX division includes digital TVs, refrigerators, mobile phones and communication systems. Under the mobile phone’s product category, the company provides various products such as smartphones, tablets, watches, headphones, and accessories. Samsung provides wireless chargers under the smartphone accessories product category. The organization operates 212 international subsidiaries dedicated to product manufacturing, sales, and research and development across the United States, Europe, Asia, and Africa. As a publicly traded entity, the company is listed on the Korea Exchange, the London Stock Exchange, and the Frankfurt Stock Exchange.
Plugless Power Inc. specializes in providing power transfer solutions that elevate the electrified mobility experience. The company employs inductive charging technology, eliminating the necessity for manual plugging into electric vehicles (EVs). In 2016, Plugless Power introduced the second generation of its wireless charging system, compatible with Tesla Model S and BMW i3. In December 2020, Plugless Power Inc. acquired the wireless inductive charging patent portfolio and related assets from Evatran Group, Inc. (US), a developer of wireless charging systems for electric vehicles. Evatran's patented technology offers a cord-free, safe, efficient, and convenient method for electric vehicles to charge their batteries.
Ossia Inc. is Ossia Inc. is a leading developer of wireless power charging solutions for retail, industrial, and domestic applications. The company’s Cota technology enables the automatic charging of multiple moving devices within a 30-foot radius of a power charger, without any user intervention. The company focuses on developing and commercializing cutting-edge technologies to address the challenges of traditional wired power sources and contribute to the advancement of the Internet of Things (IoT) and other industries. The company have its global presence in North America, Europe, Asia Pacific, and Rest of the World.
Qualcomm Technologies, Inc. commercializing and developing foundational technologies for the wireless industry. It operates through three business segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). Qualcomm’s wireless technology solutions use magnetic resonance, including Quick Charge 2-5, which wirelessly power various devices in numerous industry verticals. The company has a wide geographic presence across the Americas, Europe, Asia Pacific, and the Middle East, & Africa. It is a public company listed on the NASDAQ stock exchange as NASDAQ: QCOM.
