Pune, India, May 23, 2022 (GLOBE NEWSWIRE) -- The global wireless charging market size is estimated to substantially increase in the upcoming years owing to growing demand for portable devices. This information is published by Fortune Business Insights in its report, titled "Wireless Charging Market Analysis, 2022-2029".
The need for wirelessly charging solutions has increased over time as demand for the product has steadily grown. A charging station, an energy source, and a receiver that receives the energy and charges the battery are all included in these wireless charging systems.
Industry Development:
April 2020: In OnePlus eight series, OnePlus Technology Co., Ltd. announced the launch of Warp Charge 30 wireless charging architecture. The organization designed a wireless charging design that provides the smartphone and wireless charger to communicate in real time.
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Wireless Charging Market Overview:
Forecast Year: 2029
Base Year: 2021
Historical Data: 2018-2020
Drivers & Restraints
Government Support to Electric Vehicles to Augment Sales
Electric Vehicles (EVs) have grown in popularity over the years as a result of their low fuel consumption and high efficiency. Additionally, governments around the world are demonstrating great support for the adoption of electric vehicles. As a result, wireless charging market growth is anticipated to be driven by the adoption of electric vehicles.
Furthermore, the product will benefit from the increased popularity of wireless technology in the consumer electronics industry. Wireless solutions' capacity to power numerous devices is expected to drive market expansion.
Multiple Disruption in Production to Decline Sales Amid Pandemic
The wireless charging industry has seen a severe loss as a result of the coronavirus outbreak. Due to the frequent interruption of the supply chain as a result of the lockdown constraints, manufacturing and sales volume dropped. The lifting of lockdown norms in numerous regions is likely to allow production facilities in these areas to resume operations in order to manufacture the product. Following the normalization of the situation, the product is likely to see significant growth due to increase in the electronic device usage.
Market Segmentation
On the basis of Technology, the market is divided into inductive, capacitive, magnetic, and others.
On the basis of vertical, the market is segmented into consumer electronics, automotive, healthcare, industrial, aerospace and defense, and others.
Based on geography, the wireless charging market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What Does the Report Contain?
The report offers an insight into the profitability, entire structure, and scale. It also studies the drivers and restraints and considers all the potential threats to the market. The critical analysis of marketplace sections, prediction analysis, and expert insights are strategically included in the report. A wide spectrum of data, including regional analysis, market segmentation, industry developments, and key players, are included in the research conducted by market experts.
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Regional Insights
Favorable Government Policies in Asia Pacific to Generate Growth
Asia Pacific is anticipated to hold the largest wireless charging market share in the foreseeable future. This is because of the favorable government policies and encouragement towards alternative fuel vehicles. Moreover, the government authority in the region is also making efforts to curb carbon emissions.
Europe is projected to showcase substantial growth in the forthcoming years. This is because of the carbon emission regulations imposed in the region. For example, the European Union has imposed an enactment to reduce at least 40% carbon emissions by 2030.
Competitive Landscape
Key Players to Focus on Expanding Distribution Capacities to Facilitate Growth
The market landscape of wireless technology is highly competitive with the presence of multiple prominent manufacturers globally. Several of these manufacturers are multinational companies and have production and sales rights in various regions. In addition to this, heavy investment by the prominent players in research and development has induced a strong dose of innovation in the market and is increasing product launches. The companies are also focused on partnerships with domestic players to expand their footprint across developing countries.
List of Key Players Profiled in the Wireless Charging Market Research Report:
- Samsung Electronics Co. Ltd.
- Qualcomm Incorporated
- Texas Instruments
- Integrated Device Technology Inc.
- Powermat Technologies Ltd.
- WiTricity Corporation
- Energizer Holdings Inc.
- Murata Manufacturing Co. Ltd.
- Sony Corporation
- Fulton Innovation LLC
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Major Points from TOC:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Global Statistics — Key Countries
4.2 New Product Launches
4.3 Pipeline Analysis
4.4 Regulatory Scenario — Key Countries
4.5 Recent Industry Developments — Partnerships, Mergers & Acquisitions
5. Global Wireless Charging Market Analysis, Insights and Forecast
5.1. Key Findings/ Summary
5.2. Market Analysis — By Product Type
5.3. Market Analysis — By Distribution Channel
5.4. Market Analysis — By Countries/Sub-regions
……………
11. Competitive Analysis
11.1. Key Industry Developments
11.2. Global Market Share Analysis
11.3. Competition Dashboard
11.4. Comparative Analysis — Major Players
12. Company Profiles
12.1 Wireless Charging Market Size Overview
12.2 Products & Services
12.3 SWOT Analysis
12.4 Recent developments
12.5 Major Investments
12.6 Regional Market Size and Demand
13. Strategic Recommendations
TOC Continued……………….
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