Portland,OR, Aug. 03, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the U.S. & China wireless charging market garnered $4.10 billion in 2020, and is expected to reach $24.69 billion by 2030, witnessing a CAGR of 19.5% from 2021 to 2030. The report offers an extensive analysis of changing market dynamics, top investment pockets, key segments, regional scenarios, and competitive scenarios.
Rise in sales of electric vehicles (EVs), constant development for portable electronics and wearable market, and necessity to harvest ambient RF energy drive the growth of the U.S. & China wireless charging market. However, technology is expensive to integrate and comparatively slower charging hinder the market growth. On the other hand, excessive research in far-field wireless charging technologies and trending internet of things (IoT) present new opportunities in the coming years.
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Covid-19 Scenario:
- The COVID-19 pandemic has immensely impacted the manufacturing and industrial sectors. The restrictions led to suspended production facilities, declined demand rate, and hampered supply chain.
- Nevertheless, the market has started reviving as the government bodies across the world are initiating with vaccinations drives. Also, the ease of regulations is assisting the market to recoup slowly & steadily.
The report offers detailed segmentation of the U.S. & China wireless charging market based on technology, industry vertical and country.
Based on technology, the inductive segment accounted for the highest share in 2020, holding more than half of the total market, and is estimated to maintain its lead position during the forecast period. However, the radio frequency segment is estimated to manifest the largest CAGR of 22.4% from 2021 to 2030. The report also studies segments including resonant and others.
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Based on industry vertical, the home based products segment contributed to the largest market share in 2020, accounting for more than four-fifths of the U.S. & China wireless charging market, and is projected to maintain its leadership status during the forecast period. Furthermore, the same segment is estimated to grow at the largest CAGR of 20.4% from 2021 to 2030. The report also involves automotive and others segment.
Based on country, the US accounted for the largest share in 2020, contributing to around three-fourths of the total share, and is estimated to maintain its dominance by 2030. However, the market across China is expected to portray the fastest CAGR of 21.8% during the forecast period.
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Leading players of the U.S. & China wireless charging market analyzed in the research include Samsung Electronics Co. Ltd., Qualcomm Incorporated, Semtech, Powermat Technologies Ltd., WiTricity Corporation, Energizer Holdings Inc., Murata Manufacturing Co. Ltd., Sony Corporation, Renesas Electronics Corporation, Samsung Electronics Co. Ltd, and Fulton Innovation LLC.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.