Wireless Chargers Market: Will Generate Massive Revenue In Future – A Comprehens
Posted by Harshad Borde on January 23rd, 2020
With the latest iPhones and Androids allowing for wireless charging, there is no stopping the market now. In fact, the wireless charger market is getting bigger by the day thanks to more and more devices supporting the wireless charging standard. It has almost become a norm since it is super convenient and hassle-free. And as an added bonus, a wireless charger can also become as a desk decor if you find the right device.
The primary advantage of wireless charger is that it thwarts overcharging as it automatically disconnects with the phone once it is charged completely. Besides, when a phone is plugged into a wireless charger, the initial shock can damage the battery over time. A wireless charger thwarts this since a phone's battery just needs to be placed in the charging pad that also provide temperature control and over-surge protection. They also prevent short circuits.
Continued product development in this field, on the account of the cutthroat competition in the global electronics market, has meant products have become more developed over the years. Now it’s all about wireless chargers that not just charge but double up as a lot of other things by having USB ports or USB-C hubs.
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Growth in the number of electric vehicles, computers, and small electronic gadgets are some of the main factors that are driving demand in the market. Apart from that, rising application of communication technology and computer is also benefitting the market.
However, wireless chargers are costly and this is deterring the market. They also take longer time to charge and consume more electricity. In addition, rise in alternative wireless charging techniques such as ultrasound and solar power or ultrasound are also posing a challenge to wireless charging.
Geographically, the market is segmented into North America, Asia Pacific (APAC), Europe, Middle East and America (EMEA) and Latin America. North America has been leading the market and accounts for the biggest market share. North America is anticipated to grow substantially during the forecast period of 2016-2024 owing to the increasing demand and usage of small-sized consumer electronics gadgets across the continent. The US accounted for the biggest market share in this geographical segment and is expected to lead throughout the forecast period.
Europe also accounts for a substantial market share in this market and occupies the second largest market share of wireless chargers market. The region is expected to grow well over the forecast period of 2016-2024. Owing to the increasing penetration of internet and data traffic and high growth of smartphones in the APAC region, the region is set to experience the fastest growth over the forecast period. Also increasing demand of laptops and personal computers in this region has led to the growth of this market. In China, Japan these chargers are increasingly used in electric vehicles. The market of Middle East and Africa is also expected to grow significantly over the forecast period.
Some of the major players of the wireless chargers market Qualcomm Incorporated (the U.S), Energizer Holdings (the U.S.), Evatran (the U.S.), Powermat Technologies Ltd (Israel), WiTricity (the U.S.), Fulton Innovation (the U.S.), Integrated Device Technology, Inc (the U.S.), Texas Instruments Inc. (the U.S.), Leggett and Platt (the U.S.), UBeam (the U.S.) amongst many others.
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About the AuthorHarshad Borde
Joined: April 26th, 2019
Articles Posted: 526
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