Wireless chargers are supported by an open interface standard called Qi which is developed and maintained by the Wireless Power Consortium (WPC). Although Qi chargers currently offer a power range of 5W-15W to mobile devices, the WPC is developing an extension of up to 60W which will assist in charging laptops other devices with high-power requirements. As per the wireless charging market statistics by IMARC Group, the market reached a total value of nearly US$ 7 Billion in 2018, registering a CAGR of 24.6% during 2011-2018.
Inductive is the most popular wireless charging technology
Currently, there are three types of wireless charging technologies available in the market which include inductive, resonant and radio frequency. Amongst these, consumers mostly prefer inductive technology as it offers safety, convenience and high efficiency. Other than this, various manufacturers are focusing on the development of inductive chargers with smaller sizes and higher energy-transfer efficiencies. These chargers are expected to benefit wearable devices like smart glass, electric shaver and smart band.
Majority of the wireless chargers have short transmission range
The market has also been segmented on the basis of different transmission ranges which include short, medium and long range. Amongst these, short-range wireless chargers currently dominate the market. These chargers are used in residential, commercial and public areas. In the residential sector, they are mainly used in home networks, wireless home security systems, meter readings and video games. Apart from this, wireless chargers are available in airport info-stations, wireless logistics, smart vehicles, ATMs and vending machines.
Consumer electronics are the largest application segment
The wireless charging market research indicates that consumer electronics represent the largest application area for wireless chargers. This can be accredited to the proliferation of the internet of things (IoT) and increasing usage of wearable electronics, smartphones, tablets, laptops, etc. Other major application segments include industrial, healthcare, automotive and defense. In various industries, wireless chargers are used in smart buildings, factory automation, surveillance and power tools. Similarly, in the military sector, these chargers are being used for improving operational efficiency and convenience, powering helmet-mounted devices and recharging central batteries.
North America is the largest market
The wireless charging market report has analyzed the industry according to the major geographical regions, covering North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. At present, North America represents the biggest market for wireless chargers, holding the majority of the market share. This can be attributed to the rising environmental concerns across the region which is leading to the popularity of electric vehicles. Moreover, the escalating demand for wireless devices, such as smartphones, gaming consoles, e-readers, tablets and portable PCs, is also having a positive impact on the growth of the market in North America.
About IMARC Group:
IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the wireless charging industry, which has enabled the clients to set up and expand their businesses successfully. Some of the company’s offerings include:
- Market Research
- Plant setup
- Plant Expansion
- Marketing and sales
- Procurement and Distribution
- Innovation and Product Development