Insights on the Worldwide Wireless Charging Industry to 2028 - Featuring Energous, Powermat & Witricity Corporation Among Others - ResearchAndMarkets.com

DUBLIN--()--The "Global Wireless Charging Market 2019-2028" report has been added to ResearchAndMarkets.com's offering.

This research predicts that the global market for wireless charging would witness a CAGR of 24.89 % over the forecast period 2019-2028.

The rising need for convenient and effective charging systems is driving the growth of the global market. Further, the growing usage of smartphones & other such wearable devices, along with the strong growth of the electric vehicles market, is fuelling the market growth. There is an increasing preference for smart homes & smart offices of late. Also, various industries have been designing products with in-built wireless charging.

These factors are creating some opportunities for market growth. However, wireless charging-enabled devices charge at a slow speed. They are less efficient and costly, as well. This is restraining the market growth. Moreover, the lack of a proper EV charging infrastructure is creating further obstacles for growth.

The global market spans across the regions of North America, Latin America, Europe, the Middle East and Africa, and the Asia-Pacific.

The Asia-Pacific is estimated to be the fastest-growing region in the global market over the estimated period. The growth in this market can be attributed to the high consumer demand for automobiles in the region. Four out of the top ten globally-renowned automobile manufacturers are located in the region, and thus, the market for electric vehicles in APAC is also strong. The growing populace, rapid urbanization, and rising disposable incomes have been instrumental in the growth of the EV market. The growth in the regional EV market, in turn, spells growth for the wireless charging market in the Asia-Pacific during the forecast period.

Market Dynamics

Drivers

  • Need for Convenience & Effective Charging Systems
  • Rising Number of Smartphones & Other Wearable Devices
  • Growth of Electric Vehicles

Restraints

  • Slower Charging Speed Compared to Counterparts
  • High Price & Lower Efficiency

Opportunities

  • Adoption of Smart Homes & Smart Offices
  • In-Built Wireless Charging Options in Various Applications

Challenges

  • Absence of Unified Standards in Relation to Conformity
  • Lack of Proper Electric Vehicle Charging Infrastructure

Companies Profiled

  • Aircharge
  • Belkin International Inc
  • Convenientpower Hk Limited
  • Energous Corporation
  • Powermat
  • Witricity Corporation
  • Nucurrent
  • Semtech
  • TDK Corporation
  • Texas Instruments Incorporated
  • Qualcomm Technologies Inc
  • Infineon Technologies Ag
  • NXP Semiconductors
  • Samsung
  • Renesas Electronics Corporation (Integrated Device Technology Inc)

For more information about this report visit https://www.researchandmarkets.com/r/q1oi3w

Contacts

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press@researchandmarkets.com
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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900