Wireless Charging Market reaches $13.78 Billion by 2020 – New Report by MarketsandMarkets

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The report the wireless charger market based on the applications, which include consumer electronics, defense, healthcare, automotive, industrial, and other applications. (http://www.marketsandmarkets.com/Market-Reports/wireless-charging-market-640.html)



The various market players involved in the development of wireless charging technology include ConvenientPower HK Ltd. (Hong Kong), Energizer Holding, Inc. (U.S.), Integrated Device Technology Inc. (U.S.), Leggett and Platt Inc. (U.S.),

The new market research report on the "Wireless Charging Market", defines and segments the global market on the basis of its basic components. It also provides an in-depth analysis of the growth trends and revenue forecasts for the market.

Explore more information about “Wireless Charging Market” through 82 market data Tables and 68 Figures and detailed ToC spread across 188 Pages.

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Wireless charging technology is used for the transmission of electrical current between two objects without any physical connection. This electrical current is used for charging various devices such as wearable electronics, smartphones, or industrial equipment. Wireless charging has eliminated the use of cables for charging, thereby providing a convenient way to charge electronic devices, wirelessly. According to the report, the ease and convenience of using wireless charging technology has led to its growing demand.

Consumer electronics devices require frequent charging sessions as they are used extensively, throughout the day. Smartphones have now become an inevitable part of day-to-day life. People are carrying their smartphones for the whole day, using numerous applications and being continuously connected to the internet. According to the report, this leads to fast draining of batteries, thereby necessitating the need to charge smartphones, at least once in a day. This problem can be easily be solved by the implementation of wireless charging technology. As observed in the report, the companies are continuously working towards the development of transmitters and receivers, which can enable the smartphones to be charged on the go.

The report segments the Wireless Charging Market into four basic segments which include the types of technologies, transmission range, applications, and demand patterns across different geographic regions. According to the segmentation analysis provided in the report, the consumer electronics application is expected to hold the largest market share of 68% in terms of value, in 2014.

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Another successful application of wireless charging is found in electric vehicles, as it doesn't require the physical connection of the vehicle and charging source. The vehicles can be charged, just by parking it in the garage or parking space where the charger infrastructure is available. According to the report, such attributes of wireless charging comprise the key factors driving the growth of this market in automotive application. It expects the wireless charging market to reach $13.78 Billion by 2020, growing at a CAGR of 60.26% from 2014 to 2020.

In this report the drivers, restraints, and opportunities have been covered and are described briefly along with, their impact on the global Wireless Charging Market. According to the report, the major driving factors for this market include user friendliness, growing demand for smartphones, and the ability to charge multiple devices at a same time. The major restrains mentioned in the report include lack of standardization and interference with other electronic devices. The increasing efficiency of wireless charging devices and growth of new applications constitute the key opportunity drivers for this market. The key challenges for the market include compatibility issues, inadequate government regulation, and lack of awareness.

Various market players involved in the development of wireless charging technology are profiled in this report. These players include ConvenientPower HK Ltd. (Hong Kong), Energizer Holding, Inc. (U.S.), Integrated Device Technology Inc. (U.S.), Leggett and Platt Inc. (U.S.), Murata Manufacturing Co. Ltd. (Japan), PowerbyProxi Ltd. (New Zealand), Powermat Technologies Ltd. (Israel), Qualcomm Incorporated (U.S.), Texas Instruments Incorporated (U.S.), and WiTricity Corporation (U.S.).

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