Wireless Charging Market size is predicted to see lucrative gains over 2019-2024, U.S. Dominated the regional landscape

U.S. Wireless Charging Market growth are the incentives provided by its government for the development and the usage of the wireless charging equipment’s. The U.S federal government is providing tax credits of USD 2,500 to USD 7500 for each EV purchased in the country. Increase in adoption of EVs in the country is anticipated to provide the industry several growth prospects. Moreover, several restaurants and coffee shops in the country are implementing the technology to increase the consumer awareness about the brand and provide a hassle-free user experience.

Apart from consumer electronics, healthcare sector is another domain that would impel wireless charging market size, owing to the miniaturization of products and the possibilities of performing operations without the use of batteries. In addition to this, the increasing deployment of this technology in vehicle-charging, defense, and industrial sectors, will also leave a subsequent impact on the wireless charging market application landscape.

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One of first officially commercialized wireless charging device was the Oral-B rechargeable toothbrush. Since then, wireless charging market has been witnessing a plethora of developments with regards to battery recharge in electrical devices. Recently, the electronics giant Sony patented a unique technology that can harness power from a range of devices such as smartphones, laptops, TVs, washing machines, and refrigerators. Another notable development observed in wireless charging industry in 2016 was the launch of LG G6 and Galaxy S8, sporting wireless charging technology.

The industrial application segment is expected to witness opportunities due to the need for the technology in highly automated environments such as factories which constantly needs to be charged. With no connectors to be concerned about, a wireless-charging system can be made resistant to stray liquids, dust, or gases. Furthermore, there is no potential risk of an explosion instigated by a stray spark while connecting or disconnecting a current-carrying cable which is providing an impetus to the wireless charging market growth.

Strategic collaborations have been one of the major growth tactics underlining the competitive landscape of wireless charging market. In this regard, one such major instance was the PowerSphyr-Gill agreement. The California-based wireless charging technology giant, PowerSphyr Inc. acquired Gill Electronics, in a bid to fetch the engineering and production capabilities of the latter in-house. Reportedly, the deal enabled PowerSphyr Inc. to serve a broad range of OEM customers spanning across healthcare, industrial, and automotive sectors.

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Inductive technology has penetrated significantly into the wireless charging market and contributed to more than 50% of the global revenue in 2016. WPC’s inductive Qi standard powers a range of smartphones, accessories and products. It can be implemented for close range wireless charging and is highly efficient, cost effective to deploy and easy to design. The technology is mature and the most preferred technology for charging as compared to other technologies and can be scaled up to support bigger products and EVs. Inductive charging is projected to exist in environments where safety, efficiency, and high power, are necessary.

Wireless Charging Market, By Technology

  • Inductive
  • Resonant
  • RF
  • Others

Wireless Charging Market, By Application

  • Automotive
  • Consumer
  • Industrial
  • Healthcare
  • Aerospace & Defense

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