What are the current trends witnessed in global wireless charging market?
Rising popularity and demand for electric vehicles (EV) have driven new growth opportunities in wireless charging market. The technology is used for charging EVs wirelessly, potentially revolutionizing the entire automotive landscape. Currently, companies in the wireless charging business have aligned their focus on developing cutting-edge charging solutions for electric vehicles.
For instance, Qualcomm Technologies, Inc. (QTI) has partnered with FIA Formula E Championship for developing Halo (WEVC) wireless electric vehicle charging technology. With this technology, users can efficiently charge their vehicles by moving over the charging base that is fixed in parking spaces or on roads.
The technology’s long-term benefits such as reduced maintenance costs and sustainability have also encouraged industry participants to develop new wireless charging solutions for automobiles. Speculating the market’s potential in the automobile industry, Global Market Insights, Inc., suggests that the wireless charging market may exceed USD 30 billion by 2026.
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In addition to the automobile industry, the aviation sector is also deploying innovative wireless charging modules in aircraft cabins to offer enhanced comfort and fast recharging facilities to passengers.
Why is RF-based technology holding a major share in wireless charging market?
RF-based wireless technology is recording increased traction owing to the technology’s capability to help eliminate the need for proper alignment in small devices like wearables and medical implants. Industry participants are developing innovative wireless charging solutions to attract customers.
For instance, Humavox Ltd. developed near-field RF charging systems that allows any 3D volume to be transformed into a charging station, including objects like drawers, cup holders, etc. Such innovations in RF-based charging solutions are expected to accelerate the wireless charging market over the forecast period.
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What are the key factors driving MEA wireless charging industry outlook?
According to reports, MEA is expected to offer lucrative growth opportunities for companies operating in the wireless charging industry. Airlines and airports in the region are deploying several wireless charging points to provide exceptional on-board facilities to passengers.
Moreover, carriers operating in the GCC region are leveraging wireless charging technology to improve passenger experience on short haul as well as long-haul flights. For instance, Emirates deployed around 30 wireless charging valet trays that use a magnetic field for wireless power transformation.
Meanwhile, in APAC, industrial wireless charging is expected to record exponential demand from manufacturing hubs in India, China, and South Korea. These countries are adopting wireless charging solutions to decrease the potential risk of explosions caused by stray sparks.
How are industry participants facilitating wireless charging market expansion?
Companies operating in the wireless charging market are introducing cutting edge products for consumers. In April 2018, Astronics Advanced Electronic Systems developed WCM (Wireless Charging Module) specifically optimized for aircraft, enabling the charging of personal electronic products like laptops and smartphones.
Companies such as Qualcomm Inc., Texas Instruments, Inc., Murata Manufacturing Co. Ltd., Powercast Corp., Powermat Technologies, MediaTek, Inc., Mojo Mobility, Inc., Leggett & Platt, Inc., and WiTricity Corporation are currently at forefront of wireless charging market.
Table Of Content
Chapter 1. Methodology and Scope
1.1. Definition and forecast parameters
1.1.2. Methodology and forecast parameters
1.2. Data Sources
Chapter 2. Executive Summary
2.1. Wireless charging industry 360° synopsis, 2016 – 2026
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Technology trends
2.1.4. Application trends
Chapter 3. Wireless Charging Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 – 2026
3.3. Industry ecosystem analysis
3.3.1. Supply channel analysis
3.4. Technology landscape
3.4.1. Wireless charging standard
184.108.40.206. Power Matters Alliance (PMA)
3.5. Regulatory landscape
3.6. Industry impact forces
3.6.1. Growth drivers
220.127.116.11. Technological innovations in the U.S.
18.104.22.168. Increase in global sales of wearable devices
22.214.171.124. High degree of convenience across Europe
126.96.36.199. Growing demand for Electric Vehicles (EV) in Europe and North America
188.8.131.52. Increasing need for wireless charging in advanced medical therapies
184.108.40.206. Growing demand of smartphones in India and South East Asia
220.127.116.11. Rising penetration in commercial and industrial environments in Asia Pacific
3.6.2. Industry pitfalls & challenges
18.104.22.168. Need for standardization
22.214.171.124. Mobility issues and longer charging times
3.7. Growth potential analysis
3.8. Porter's analysis
3.8.1. Supplier power
3.8.2. Buyer power
3.8.3. Threat of new entrants
3.8.4. Threat of substitutes
3.8.5. Internal rivalry
3.9. Competitive landscape, 2019
3.9.1. Strategy dashboard
3.10. PESTEL analysis
Chapter 4. Wireless Charging Market, By Technology
4.1. Key trends by technology
4.2.1. Market estimates and forecast, 2016 – 2026
4.3.1. Market estimates and forecast, 2016 – 2026
4.4.1. Market estimates and forecast, 2016 – 2026
4.5.1. Market estimates and forecast, 2016 – 2026
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