Global wireless charging market set to grow at a CAGR of 33% by 2020, says Technavio

Renewable energy


This industry research report includes a detailed segmentation of the global wireless charging market by application type (consumer electronics and electric vehicles). It also outlines the market shares for key regions such as the Americas, APAC, and EMEA. The key vendors analyzed in this report are Duracell, Fulton, WiTricity, and Qualcomm.

Technavio has released its new market research report, global wireless charging market, which is expected to generate revenues of $9 billion between 2016 and 2020. Rise in the adoption of wireless computing devices like tablets and smartphones will compel the need for wireless charging devices as they help in charging devices wherever and whenever required. The Americas is expected to lead the global market for wireless chargers during the forecast period, accounting for 36% of the total market share. The growing awareness of wireless power technology among consumers and the increase in adoption of wireless charging for industrial applications are the two critical factors that propel market growth in this region during the estimated period.

“Surge in the adoption of wireless electric vehicle (EV) charging is one of the latest trends gaining prominence in this market. Both wireless technology providers as well as EV and plug-in hybrid electric vehicle (PHEV) manufacturers are aiming to develop wireless charging systems in vehicles. This would eliminate the need for charging banks, especially in remote locations. Also, the vendors are focusing to develop wireless charging banks where multiple vehicles can be charged wirelessly when parked in proximity to a wireless charging bank,” says Sunil Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.

The integration of wireless charging for smartphones in automobiles is a major driver which is expected to drive the market growth during the forecast period. With the integration of wireless charging pads in automobiles, the consumer no longer needs to keep a charger in the car or worry about plugging their device into the vehicle. Since this technology is estimated to become prevalent across all vehicle segments during the forecast period, their augmented incorporation in all variants of automobiles will lead to market growth.

The leading vendors in the global wireless charging market include Duracell, Fulton, WiTricity, and Qualcomm. This market is highly competitive and is characterized by the presence of large players and start-ups like Ubeam. Since the global wireless charging market is still in its development stage, the vendors in this market try to gain prominence by offering high-quality, affordable products to consumers. To survive and succeed in this market, the vendors have to distinguish their products and service offerings through a clear and unique value proposition.  

A more detailed analysis is available in the Technavio report, Global Wireless Charging Market 2016-2020.

We can customize this reports by other regions and specific segments upon request.

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