New York, NY, Aug. 13, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Wireless Charging ICs Market By Type (Transmitter and Receiver), By Substrate (Organic and Inorganic), By Component (Relays, Circuit Breakers, and Power Solution), and By Application (Tablets and Smartphones, Medical Devices, Wearable Electronics Devices, Automobile Devices, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025’’. According to the report, the global wireless charging ICs market was around USD 2.7 billion in 2018 and is expected to reach approximately USD 12.3 billion by 2025, at a CAGR of 24.2% between 2019 and 2025.
The wireless charging ICs market globally is likely to experience notable growth in the years ahead, owing to the various advancements witnessed in technology. Moreover, the increase in the number of wireless charging ICs applications in medical, automobile, and electronic devices will further drive the market for wireless charging ICs over the upcoming years. Subsequently, the use of wireless charging ICs in wearable products like smartwatches, electric trimmers, mobile phones, tablets, and smart glasses is another factor contributing to the wireless charging ICs market growth. In recent years, portable consumer goods like different electronic devices have become an integral part of an individual’s life across the world.
Browse through 71 Tables & 30 Figures spread over 186 Pages and in-depth TOC on “Global Wireless Charging ICs Market: By Industry Type, Applications, Market Size, Share, Segments, Analysis and Forecast, 2018–2025”.
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Significant growth can be observed and estimated in the wireless charging ICs market globally, due to the rising demand for smartphones, laptops, digital cameras, and tablets. However, the wireless charging ICs market may be hampered due to duplication of products, which has led to the loss of customers’ trust. Alternatively, the wireless charging ICs market is estimated to grow significantly, owing to the increasing demand for miniaturized components in various electronic devices. There are several advantages of these components like cost reduction and lesser energy and material consumption along with portability. Moreover, miniaturized designs enhance configurations, control, sensing, and fabrication of devices, leading to further market growth.
By type, the wireless charging ICs market is fragmented into receiver and transmitter ICs. Receiver ICs are anticipated to witness notable demand for wireless charging ICs, owing to their compact design, flexibility, and efficiency. These elements are united into several devices like smartwatches, smartphones, tablets, and laptops. Thus, to serve the growing demands and specifications of customers, various component manufacturers are developing new technologies. One such example is Belkin, the U.S.-based manufacturer. In April 2018, the company launched a wireless charging pad for Apple products.
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On the basis of application, the demand for wearable electronic devices is exponentially growing due to various technological advancements that enable a person to use a device even when the device while charging. Moreover, with the growing health-consciousness of people globally, wearable electronic devices are no longer restricted to use by sports personalities.
The Asia Pacific region is expected to grow notably in the wireless charging ICs markets globally in the years ahead, owing to the rising demand for smartphones across the region. Countries like India, Japan, and China are the major locations for the wireless charging ICs market in the region. The presence of several key producers like Fujitsu, Meizu, HTC, LG, Panasonic, Samsung, Lenovo, Xiaomi, and Sony is also anticipated to boost the market over the forecast time period.
Browse the full “Wireless Charging ICs Market By Type (Transmitter and Receiver), By Substrate (Organic and Inorganic), By Component (Relays, Circuit Breakers, and Power Solution), and By Application (Tablets and Smartphones, Medical Devices, Wearable Electronics Devices, Automobile Devices, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/wireless-charging-ics-market
North America is expected to exhibit substantial growth in the wireless charging ICs market, due to the increasing use of wireless charging in the public sector. The rising demand for portable consumer electronic devices has led to the compact size of various electronic devices. These designs are innovative, highly secure, offer better mobility, and prolonged usage. The regional population is inclined toward purchasing laptops, tablets, smartwatches, smartphones, gaming devices, computers, and televisions, which is further boosting the region’s wireless charging ICs market.
Europe is expected to witness considerable growth in the wireless charging ICs market over the upcoming years, owing to the rising awareness about wireless technologies. These technologies are more reliable and have higher charging speed that most organizations in Europe are opting for. Moreover, the increased adoption of ICs across the region is further supporting the wireless charging ICs market in the region.
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Latin America is projected to grow substantially in the wireless charging ICs market, owing to the rising demand for wearable devices. Brazil and Argentina are the major countries in this region, due to the growing adoption of 4G technology.
The demand for wireless charging ICs in the Middle East and Africa is expected to rise, due to the increasing regional product adoption in various medical devices and rising investments made in retail, travel, and healthcare sectors for threat and risk management. Healthcare organizations in the region are focusing on utilizing wireless technology to offer better treatment and services to patients, which is also driving the region’s wireless charging ICs market.
Some prominent players of the global wireless charging ICs market are Broadcom, Qualcomm Incorporated, Texas Instruments, Toshiba Corp., On Semiconductor, NXP Semiconductors, Vishay Intertechnology, MediaTek, Linear Technology, and ROHM Semiconductor.
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This report segments the global wireless charging ICs market into:
Global Wireless Charging ICs Market: Substrate Analysis
- Organic
- Inorganic
Global Wireless Charging ICs Market: Type Analysis
- Transmitter ICs
- Receiver ICs
Global Wireless Charging ICs Market: Application Analysis
- Tablets and Smartphones
- Medical Devices
- Wearable Electronic Devices
- Automobile Devices
- Others
Global Wireless Charging ICs Market: Component Analysis
- Relays
- Circuit Breakers
- Power Solution
Global Wireless Charging ICs Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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