Global Wireless Charging Market By Technology (Inductive, Resonant, Radio Frequency and Others) By End User (Electronics, Industrial, Automotive, Healthcare and Others) By Region, Industry Analysis and Forecast, 2020 - 2026
Report Id: KBV-4053Publication Date: May-2020Number of Pages: 201
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The Global Wireless Charging Market size is expected to reach $25.6 billion by 2026, rising at a market growth of 28.4% CAGR during the forecast period. Wireless charging is a system which is efficient, easy and safe for powering and charging electrical devices. In fact, by reducing the use of physical connectors and cables it offers reliable, cost-effective and safer advantages over conventional charging systems. In fact, it ensures a continuous power transfer to ensure that all types of equipment (handheld industrial devices, heavy-duty devices, smartphone, among others) are charged and readily available to use.
Global Wireless Charging Market Size
Most wireless charging devices employ induction type technology consisting of two main induction coils, one at the charging base, which further addresses the output of an alternating current from the base, and the other at the portable device. These coils take the shape of a pad clipped onto the smartphones. It can be in the shape of an integrated charging coil that attaches to the charging socket and together form an electric transformer. It uses the magnetic coupling phenomenon that the transmitter & receiver coil converts to electrical current for the proper functionality of the inductive power transfer, respectively.
Wireless Charging Market Share
The absence of universally accepted specifications and the interaction with other electronic devices act as a barrier to consumer development. Integrated Device Technology, Inc. (U.S.) designs, develops, manufactures and markets a wide variety of low-power, high-performance mixed signal half-conductor solutions in the wireless charging market. Moreover, with the sudden break of Covid-19 in late months of year 2019, the markets worldwide are unfortunately experiencing its grip. The suppliers and consumers of the products & Services are affected in a big way across the sectors resulting in declining revenues in last quarters of year 2019.
Based on Technology, the market is segmented into Inductive, Resonant, Radio Frequency and Others. Based on End User, the market is segmented into Electronics, Industrial, Automotive, Healthcare and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Partnerships and Product Launches. Based on the Analysis presented in the Cardinal matrix, Sony Corporation, Samsung Electronics Co., Ltd., Texas Instruments, Inc., and Qualcomm, Inc. are the forerunners in the Wireless Charging Market. Companies such as Renesas Electronics Corporation, WiTricity Corporation, and Powermat Technologies Ltd., ConvenientPower HK Limited, Leggett & Platt, Inc., and Murata Manufacturing Co., Ltd. are some of the key innovators in the market.
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include Qualcomm, Inc., Texas Instruments, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Sony Corporation, Renesas Electronics Corporation (Integrated Device Technology, Inc.), Murata Manufacturing Co., Ltd., Leggett & Platt, Inc., ConvenientPower HK Limited, Powermat Technologies Ltd., WiTricity Corporation.
Recent Strategies Deployed in Wireless Charging Market
» Partnerships, Collaborations, and Agreements:
Feb-2020: Renesas Electronics teamed up with Panthronics AG, a fabless semiconductor company specialized in high-performance wireless products. Together, the companies aim to bring best-in-class solutions integrating Renesas wireless charging technology and Panthronics NFC technology. Combining Qi wireless chargers with NFC, the companies would develop superior solutions for consumer and industrial applications.
Dec-2019: Qualcomm Technologies collaborated with Integrated Device Technology, Inc. (IDT), a wholly-owned subsidiary of Renesas Electronics Corporation. The collaboration was focused on developing highly integrated wireless charging solutions with up to 30W for use in flagship smartphones powered by Qualcomm Snapdragon 5G mobile platforms.
Apr-2019: Samsung announced partnership with JCDecaux Singapore. The partnership was focused on transforming the bus stops into wireless charging stations. The city's 10 bus stops have this Wireless PowerSharing feature of the latest Samsung Galaxy S10+ smartphone.
Feb-2019: Renesas announced its collaboration with Miromico, an innovative high-tech company. The collaboration was aimed at developing a compact and low-power FMLR-61-x-RSS3 module based on LoRa devices and wireless radio frequency technology.
Jan-2019: Leggett & Platt Automotive (LPA) partnered with Plug and Play, an active early-stage investor and global innovation platform. Under this partnership, the former company would provide advanced solutions for vehicle interiors as quickly and effectively as possible.
Jan-2018: ConvenientPower Systems came into partnership with Formica Group, a provider of branded, designed surfacing solutions for commercial and residential customers. Following this partnership, the companies develop scalable wireless charging infrastructure. Together, the companies would bring wireless charging solutions to the market.
Jan-2018: ConvenientPower Systems (CPS) collaborated with ON Semiconductor, a semiconductor supplier company. In this collaboration, the former company designs, develops, and markets in-vehicle wireless charging solutions using ON Semiconductor’s NCV6500 application dedicated to power management controller.
Jan-2018: Powermat joined the Wireless Power Consortium, the developer of Qi wireless charging. Powermat provides its technology to WPC and continues to develop wireless charging technology that maintains backward compatibility with Qi as well.
» Acquisition and Mergers:
Feb-2019: WiTricity acquired Qualcomm Inc.'s electric vehicle charging unit, Halo. The acquisition broadened the former company's wireless EV charging capabilities.
Feb-2017: Renesas Electronics acquired Intersil Corporation, a leading provider of innovative power management and precision analog solutions. The acquisition brings together the advanced technology and deep end-market expertise of the two companies and strengthens Renesas’ position as a leading global supplier delivering advanced embedded systems to customers.
» Product Launches and Product Expansions:
Jan-2020: Murata launched a new LoRa-based module. This module is just 10.0 mm x 8.0 mm x 1.6 mm. The module is suitable for a wide range of high-volume applications where small size, long-range, extended battery life, security required.
Oct-2019: Integrated Device Technology, Inc. (IDT), a wholly-owned subsidiary of Renesas Electronics Corporation launched the P9222-R wireless power receiver. This receiver has been optimized for wireless charging cases used to charge ear buds, hearing aids, and other small, battery-powered consumer devices.
Jul-2019: Integrated Device Technology, Inc. (IDT), a wholly-owned subsidiary of Renesas Electronics Corporation released the P9415 receiver and P9247 transmitter. Both, the receiver and the transmitter works together for enabling smartphones to charge wirelessly with up to 30W of power, minimizing the charging time gap between wireless and wired charging options.
May-2019: Samsung India introduced the Wireless Power Bank and Wireless Charging Duo Pad, two new devices for broadening its portfolio in the wireless ecosystem. The two devices have been designed for fulfilling the needs of a connected lifestyle, and enable users to wirelessly charge their Galaxy smartphones and other Qi-certified smartphones seamlessly.
Feb-2019: Qualcomm launched Qualcomm Quick Charge technology for wireless power. This technology aimed to bring fast charging innovation to the wireless charging industry and help consumers to wirelessly charge their devices quickly, safely, and efficiently.
Dec-2018: Powermat launched the design of AgileInductive technology, a flexible wireless charging platform. The platform would provide a seamless inductive charging experience to businesses and home users.
Aug-2018: Samsung launched Note 9, the new smartphone. The smartphone has a new dual wireless charger, which is designed for its new Note 9 and Galaxy Watch. The Wireless Charger Duo has two charging pads, with a flat area meant for the new Galaxy smartwatch and a propped up charging spot for keeping a phone display visible while charging.
Jan-2018: Powermat introduced Charging Spot 4.0 powered by SmartInductive technology, a new platform. The platform can wirelessly charge virtually any device, on almost any surface with no drilling required.
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Frequently Asked Questions About This Report
The global wireless charging market size is expected to reach $25.6 billion by 2026.
The major factors that are anticipated to drive the wireless charging industry include the Implantable Medical Devices Leveraging Wireless Charging, Rise in Electric Vehicle and Its Future Prospects, and Technological advancements in the wearable market and constant development of portable electronics.
The segment of electronics was the main revenue contributor in 2019 and is projected to grow exponentially during the forecast period.
Yes, The markets worldwide are unfortunately experiencing its grip. The suppliers and consumers of the products & Services are affected in a big way across the sectors resulting in declining revenues in last quarters of year 2019.
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