LONDON--(BUSINESS WIRE)--Technavio has been monitoring the automotive inductive wireless charging systems market and it is poised to grow by 6.88 mn units during 2020-2024, progressing at a CAGR of over 102% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the automotive inductive wireless charging systems market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions:
Based on segmentation by application, which is the leading segment in the market?
The residential charging systems segment led the market in 2019.
What are the major trends in the market?
The advent of on-road dynamic wireless charging systems is the major trend in the market.
At what rate is the market projected to grow?
The market is projected to grow at a CAGR of over 102% during 2020-2024.
Who are the top players in the market?
Continental AG, ConvenientPower HK Limited, Energizer Holdings Inc., Evatran Group Inc., Leggett & Platt Inc., MediaTek Inc., Momentum Dynamics, Qualcomm Inc., Renesas Electronics Corp., and WiTricity Corporation are the top players in the market.
What are the key market drivers and challenges?
The market is driven by the increasing demand for HEVs and EVs. However, high installation costs will challenge the market growth.
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The market is concentrated, and the degree of concentration will accelerate during the forecast period. Continental AG, ConvenientPower HK Limited, Energizer Holdings Inc., Evatran Group Inc., Leggett & Platt Inc., MediaTek Inc., Momentum Dynamics, Qualcomm Inc., Renesas Electronics Corp., and WiTricity Corporation are some of the major market participants. Although the increasing demand for HEVs and EVs will offer immense growth opportunities, high installation costs are likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this automotive inductive wireless charging systems market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Automotive Inductive Wireless Charging Systems Market 2020-2024: Segmentation
Automotive Inductive Wireless Charging Systems Market is segmented as below:
- Residential Charging Systems
- Public Charging Systems
- North America
- South America
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Automotive Inductive Wireless Charging Systems Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive inductive wireless charging systems market report covers the following areas:
- Automotive Inductive Wireless Charging Systems Market Size
- Automotive Inductive Wireless Charging Systems Market Trends
- Automotive Inductive Wireless Charging Systems Market Industry Analysis
This study identifies On-road dynamic wireless charging systems as one of the prime reasons driving the Automotive Inductive Wireless Charging Systems Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Automotive Inductive Wireless Charging Systems Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist automotive inductive wireless charging systems market growth during the next five years
- Estimation of the automotive inductive wireless charging systems market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive inductive wireless charging systems market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive inductive wireless charging systems market vendors
Table of Contents:
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five force summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Residential charging systems - Market size and forecast 2019-2024
- Public charging systems - Market size and forecast 2019-2024
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Continental AG
- ConvenientPower HK Ltd.
- Energizer Holdings Inc.
- Evatran Group Inc.
- Leggett & Platt Inc.
- MediaTek Inc.
- Momentum Dynamics
- Qualcomm Inc.
- Renesas Electronics Corp.
- WiTricity Corp.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.