Wireless Charging Market to grow at 13% CAGR from 2017 to 2024: Fractovia.org Wireless Charging Market to exceed USD 14 billion by 2024, driven by growing smartphone demand. The far-flung expanse of wireless charging market is rather overt from its application extensity, inclusive of some of the most lucrative business spheres, along the likes of the consumer goods, industrial, aerospace & defense, automotive, and healthcare sectors. Despite the fact that much of the popularity wireless charging industry has accrued so far is due to the product’s deployment in consumer goods, the technology has been amassing quite a fortune from other end-use domains as well, the automotive sector being one of most essential ones. BMW, for instance, has been crawling its way into wireless charging market, evidence of the fact being, BMW’s recent partnership with Qualcomm. The German automotive giant has signed an agreement with Qualcomm for manufacturing charging pads for its BMW i3 and i8 safety cars deployed for the Formula E racing series. Using inductive charging, the pad would tap into BMW Wireless Charging tech for delivering electricity to BMW’s plug-in hybrid vehicles, without the necessity for a charging socket. In effect, the company plans to introduce its wireless charging pad into the mainstream arena by 2018, which would have a profound impact on the overall wireless charging market share. As per estimates, in fact, wireless charging market size was pegged at USD 3 billion in 2016, subject to rising demand for mobile power recharging options and the growing prevalence of tablets and smartphones.
force for wireless charging industry. Most tech moguls have been striving to implement wireless charging in their devices with an aim to increase the product’s brand value and presence in the core business. One of the most popular and acclaimed instance testifying the validity of the aforementioned statement is Apple’s recent launch of the iPhone 8 series. The fact that the iPhone 8 would be endowed with wireless charging has been on the news bulletin for a considerably long while, much prior to the product launch. And yet, its introduction in the mainstream arena has created quite a stir in the tech cosmos. The company has apparently chosen 7.5 W of power transfer for iPhone 8 and the much-awaited iPhone X.
1|Page
While wireless charging market had been introduced in the international circuit for more than two decades back, its commercialization scope has surpassed escalated levels merely a few years back. This business space has been ablaze with numerous innovations on an annual basis, though 2017, has indeed been a spectacular year for wireless charging industry. Some of the marked developments that defined the growth spectrum of wireless charging market in 2017 have been meticulously outlined underneath: Wireless charging market players
Growth strategy adopted
Impact on wireless charging market
IDT’s shipment validates the IDT announced the shipment of declaration that wireless charging Integrated 30 million Qi wireless power industry has indeed gone Device transmitters that utilize the firm’s mainstream, and is likely to Technology power management technology. accrue remarkable sales with time. Powercast announced the Powercast’s the P1110-EVAL-01 launch of the P1110-EVAL-01 may have a profound impact on Powercast development kit enabling easy the product landscape of wireless Corporation design of smart devices using charging market, enabling other the firm’s wireless power companies to push themselves technology. further on. nd MIT has unveiled its 2 MIT’s spun-off start-up is likely to wireless recharging spin-off, emerge as one of the most The called Pi Inc., that would soon potentially competitive entrants in Massachusetts be launching the beam-forming wireless charging industry, which Institute of magnetic induction wireless would pressurize other tech Technology recharging station, designed to giants to bring about further charge multiple devices within a innovations in their products. range of a foot from the charger. Ventev recently displayed its Ventev’s portrayal of its unique new jet black chargesync alloy product portfolio would have a cable, wireless charging car kit, marginal but powerful impact on wireless chargestand, and a Ventev Mobile wireless charging market players, range of Power Delivery and leading to the conceptualization Qualcomm® Quick Charge™ of technological advancements in 3.0 accessories at the Pepcom wireless charging. Holiday Spectacular East.
2|Page
U.S. wireless charging market, by technology, 2016
The proliferation of advanced technology and the substantial rise in the tech-savvy populace are deemed to act as major drivers for wireless charging market. Major tech giants along the likes of WiTricity Corporation, Energizer Holdings, Inc., Powercast Corporation, Integrated Device Technology, Inc., Convenient Power Ltd., Murata Manufacturing Co. Ltd., Texas Instruments, Inc., Mojo Mobility, Inc., Qualcomm Inc., PowerbyProxi Ltd., Leggett & Platt Inc., and Powermat Technologies partaking in wireless charging industry share have been pushing themselves to brainstorm and develop contemporary technologies that could make wireless charging even more convenient to access. Given that consumers have been demanding a hassle-free charging experience, companies have been prioritizing the manufacture of nonremovable batteries and limited battery space in products. This dynamic transformation of tactic adoption would ultimately augment the demand for this service, inherently propelling wireless charging market size. The humongous appetite for this business space is quite evident from the estimates – wireless charging industry size is forecast to be pegged at a valuation nearly five times its revenue collection in 2016, as per a report compiled by Global Market Insights, Inc.
3|Page
Industry Coverage
4|Page
About Fractovia.org
Fractovia.org is one of India's leading in-house and free news portal. It is fully automated, and operates on a constant premise, interfacing with news sites and offering redesigned breaking features to readers across the globe. Our mission is to offer individuals opportunities for connections with news writers and distributors which they can pursue. We operate by mapping articles pertaining to breaking news, constantly and progressively, against a pre-determined word-based theme, offering important connections to readers and clients, as well as distributers.
Contact Us:
Arun Hegde Corporate Sales, USA Fractovia.org Phone: 1-302-846-7766 Toll Free: 1-888-689-0688 Email: sales@fractovia.org Website: https://www.fractovia.org Connect with us: Facebook | Twitter
5|Page