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(IT-NEWSWIRE.COM, September 05, 2019 ) Market Overview: • Wireless charging is the process of electrically charging battery-powered devices and equipment without the need for a wired electrical power connection. It enables the wireless transfer of electrical charge from a charging device or node to the recipient device. Wireless charging is also known as inductive charging, although it is one of the forms/techniques of wireless charging. • Furthermore, it maintains the continuous transfer of power to ensure all varieties of devices such as, smartphones, wearable devices and others are charged and readily available to use. Radio Frequency, inductive and resonant are the different technologies used in Wireless charging. Market Dynamics • Increasing usage and demand for electronics especially for smart devices is the foremost driver for market growth. According to GSMA, the total shipment of smartphones is 1.3 billion in 1st quarter of 2019, which is predicted to rise by the introduction of 5G smartphones by 2023. The increasing demand for smartphones with the 5G technology is expected to drive the wireless charging market in the near future. The exports for electronics is increasing in a tremendous way globally. For instance, from 2001 to 2016, the value of electronics exports from Asia jumped from USD 537.3 billion to USD 1,758 billion, at an average growth rate of 8.2% each year. • Lower efficiency, when compared with wired chargings, is the major restraint for the market growth. It can be slower and less energy efficient than traditional cabled charging, and that comparative lack of efficiency can mean that wireless charging wastes more energy by emitting it in the form of heat. Market Segementation • Based on technology, the global market for Wireless Charging is broadly segmented as Radio Frequency, Inductive and Resonant. Radio frequency (RF) wireless charging uses radio frequencies to charge any electrical device like a regular cord. There are different forms of wireless charging, but radio frequency uses electromagnetic waves over induced magnetic fields. For example, using the wi-fi router and sending signals to computer and smartphone, similarly RF wireless charging uses frequencies to send power from a wireless charging to the receiver. The converted electricity becomes the device’s power source. • Companies are launching both contact-based and over the air wireless chargings with RF-based technology. For instance, WattUp®, a Radio Frequency-based scalable technology that enables both contact-based and over-the-air wireless charging for small electronic devices in an ecosystem that ensures interoperability. • Based on application the global market for Wireless Charging is broadly segmented as medical devices, automotive, smartphones and tablets, wearable devices and others. The automotive segment is expected to grow with a High CAGR rate in the forecast period. Rising usage of electrical vehicles worldwide is the major driver for the growth of the wireless charging market globally in the automotive segment. Due to increasing fuel prices and emission regulations, Electric vehicles are considered to be a major choice by customers while buying a vehicle is increasing. The sales of electric vehicles are expected to rise due to the increasing wireless charging infrastructure for electric vehicles. For instance, 2,018,247 Electric vehicles were sold in 2018 and have been beholding strong growth rate in recent years globally • Governments have initiated various schemes and encouraging buyers to choose electric vehicles over conventional vehicles. For instance, China Government passed measures to increase the number of electric vehicles on the road. China Original policy declared that companies with vehicles sales of over 30,000 vehicles must comply with new rules. Countries are focusing to install and increase the wireless charging stations due to the huge demand from the public. For instance, Norway is the first country in the world to install the wireless electric car charging stations for Oslo taxis in 2019. • Based on component, the global market for Wireless Charging is broadly segmented as receiver, transmitter and others. Geographical Analysis • By Geography, global Wireless Charging market is segmented into • North America, • Europe, • Asia Pacific, • South America, • Middle East • Africa. . Company profiles • Qualcomm Technologies, Inc, • Ubeam, Powermat, • Semtech, Toshiba Electronic Devices • Others
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