Wireless Charging Market – Global Industry Analysis Report, Share, Size, Growth, Price Trends and Forecast, 2023

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Wireless Charging Market Global Industry
Analysis Report, Share, Size, Growth, Price
Trends and Forecast, 2016 2023 Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
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Overview

• Growing trends in digitization, mobile
  communications, and infrastructural growth are
  anticipated to boost the demand for wireless
  charging industry over the coming years. It
  eliminates the use of cords cables and provides
  a clutter-free charging in electronic devices.
  This will result in the enhanced application of
  wireless charging technology in healthcare,
  consumer, industrial, automotive, and defense
  industries over the coming years. As per the
  Global Market Insights Inc., The wireless
  charging market worth USD 2.62 billion in 2015,
  is predicted to reach USD 25 billion by 2023.
• Key mobile communication dealers in countries
  such as the U.S., South Korea, and Japan provide
  inbuilt wireless power receiver integrated
  circuit facility in mobile phones. The rising
  demand for smartphones in China, South Korea, and
  India is a key growth driver for the wireless
  charging industry. The Asia Pacific wireless
  charging market size is forecast to exceed USD 12
  billion mark by 2023 owing to high sales of
  consumer electronics goods coupled with user
  convenience.

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Continued

• Furthermore, telecommunications technology growth
  and mobile broadband availability coupled with
  the rising amount of internet users is expected
  to benefit the regional growth. The North America
  market is predicted to witness a noticeable
  growth over the coming seven years due to high
  expenditure on the wireless charging equipment as
  a result of growing consumer awareness about the
  new technological breakthroughs. The U.S. market,
  which accounted for 25 of the overall revenue
  share in 2015, is predicted to contribute
  significantly towards the regional growth over
  the coming seven years.
• The wireless charging technology finds key
  application in the consumer industry, which is
  anticipated to dominate the market over the
  coming years by exceeding a revenue of USD 15.8
  billion by 2023. Factors such as rising consumer
  purchasing capacity and high user convenience
  coupled with growing demand for wireless charging
  devices are predicted to boost the industry
  growth over the coming years.
• The healthcare industry, which is yet another key
  application area of wireless charging technology,
  is predicted to grow at a CAGR of 37.5 over the
  period of 2016-2023.

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Europe wireless charging market size, by
technology, 2012 - 2023 (USD Million)

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Continued

• Key manufacturers have introduced new wireless
  charging technologies in the market to match the
  growing consumer requirements. Some of these
  technologies include inductive, RF, and resonant
  wireless charging technology. The RF wireless
  charging technology segment is anticipated to
  exceed USD 3 billion mark by 2023 as it suits
  small electronic devices and wearables as well as
  medical implants. The resonant technology segment
  is also predicted to witness a substantial growth
  over the coming years as it helps to charge many
  devices at a time without requiring any direct
  contact with these devices.
• Acceptance of Qi wireless charging standards has
  added the ability to effectively charge the
  devices at shorter distances. As on July 14,2016,
  there were about 140 tablets, smartphones, and
  other Qi enabled devices that could be charged by
  Qi wireless charging. With Qi standards becoming
  popular, it is anticipated that Qi wireless
  charging will find its applications in coffee
  shops, sports arenas, and airports over the
  coming seven years.
• Key market players include PowerbyProxi,
  Integrated Device Technology (IDT), Qualcomm, and
  WiTricity Corporation.

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