Persistence Market Research, in its new publication, “Wireless Charging Market: Global Industry Analysis and Forecast, 2016-2024,” offers an eight year forecast for the global wireless charging market. This study demonstrates the market dynamics and value chain globally across five key regions that influence the current nature and future status of the global wireless charging market over the forecast period. This research report provides a detailed analysis of the global wireless charging market and offers insights into the various factors driving the popularity of these products and solutions. The report provides a comprehensive assessment of key stakeholder strategies and imperatives for succeeding in the business. The report segregates the market based on wireless charging components across different regions globally.
The report starts with an overview of the global wireless charging market. In addition, this section includes an analysis of the value chain, key drivers, and challenges influencing the wireless charging market globally. Impact analysis of key growth drivers and restraints based on the weighted average model is included in this report to facilitate clients with crystal clear decision-making insights. A detailed analysis has been provided for every segment in terms of market size analysis for the global wireless charging market. The report provides a comprehensive forecast covering absolute dollar opportunity, BPS analysis, and market attractiveness analysis.
The report provides a detailed analysis of wireless charging technologies across various countries globally. It provides a market outlook for the projected period and sets the forecast within the context of the global wireless charging market including latest technological developments as well as service offerings in the market. This study discusses key trends within countries contributing to the growth of the market, as well as analyses the degree to which drivers are influencing this market in each region. This report evaluates the present scenario and future growth prospects of the global wireless charging market for the estimated period. The report considers 2015 as the base year and provides data for the trailing 12 months.
The report concludes with a competitive landscape to provide clients with a dashboard view, based on categories of providers in the value chain, presence in the wireless charging portfolio and key differentiators. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the global wireless charging value chain and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on an in-depth assessment of capabilities and success in the marketplace. Detailed profiles of providers are also included within the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the global wireless charging market.
To calculate the global wireless charging market size, the report considers country-wise wireless charging production, country-wise wireless charging sales, consumer spending, adoption rates of electronic devices across regions and revenue contribution of the top players. The forecast presented here assesses the total revenue by value across the market. In order to offer an accurate forecast, the report starts by sizing the current market, which forms the basis of how the global wireless charging market will develop in the future. Given the characteristics of the market, the outcome of different types of analyses is triangulated based on the technology trends.
In this report, Persistence Market Research has not only estimated market forecast based on CAGR but has also analyzed the global wireless charging market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the market. As previously highlighted, the global wireless charging market is split into a number of segments. All segments based on different regions are analyzed in terms of basis point share to understand individual segments’ relative contribution to market growth. This detailed level of information is important for identification of various key trends governing the global wireless charging market.
Also, another key feature of this report is the analysis of all key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity analysis is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global wireless charging market.
Although automotive segment is ahead in terms of CAGR, the consumer electronics segment is the most attractive segment in the global wireless charging market
Consumer electronics segment accounts for comparatively higher revenue share in the global wireless charging market and is expected to remain dominant throughout the forecast period. Leading wireless charging solution providers are offering wireless charging solutions for consumer electronic devices. Also, wireless charging solution providers are entering into partnerships with consumers electronic devices manufacturers to develop wireless charging enabled devices. This segment is projected to be the most attractive segment in the global wireless charging market during the forecast period. Consumer electronics segment was valued at a little more than US$ 1,000 Mn in 2015 and is expected to remain dominant throughout the forecast period, accounting for a revenue share of more than 50% by 2024 end.
Increasing usage of smartphones is anticipated to drive the growth of the consumer electronics segment in the global wireless charging market
Demand for wireless charging is witnessing significant increase owing to rising consumer awareness as more number of mobile devices are being launched with embedded wireless charging technology. Technological advancements in mobile devices such as embedded wireless charging technology are creating awareness about wireless charging among consumers. An increasing number of mobile device vendors are incorporating the wireless charging feature in high end models of smartphones, wearable devices, laptops, and notebooks, which is driving adoption of this technology. As a result, the consumer electronics segment is showing robust growth in the global wireless charging market.
Wireless chargers enable charging of multiple devices at the same time. These devices can be free positioned, which means there is no particular way a device should be placed or positioned for charging. However, it needs to be kept within a particular range or proximity of the wireless charger. This free positioning feature is enabled by resonant technology. This particular factor is creating a positive impact on the consumer electronics segment. Demand for electronics is rising amongst the consumers globally; particularly there is great demand for mobile phones across the globe. Specifically, Asia Pacific represents a vast potential in terms of growth for the global wireless charging market due to the presence of a large population and wider adoption of mobile devices such as smartphones and wearable devices. Companies in China, Japan, and South Korea are investing significantly in wireless charging technology for consumer electronics, thus driving the growth of this segment particularly in the APAC region.
Increasing proliferation of the Internet of Things (IoT) is further boosting the growth of the consumer electronics segment. Growing adoption of the Internet of Things is driving the need for constant power supply for electronic devices connected to the IoT network. As electric charging methods are complicated and are sometimes not compatible with IoT devices, wireless charging is a convenient method to power an IoT network.
Consumer electronics segment is expected to be the dominant application segment in the North America wireless charging market throughout the forecast period
In terms of revenue, the consumer electronics segment is projected to be the most attractive segment in the North America wireless charging market during the forecast period. The segment accounted for a relatively high revenue share and was valued at more than US$ 400 Mn in 2015. The consumer electronics segment is expected to remain dominant in the North America wireless charging market during the forecast period. In Latin America, this segment was valued at more than US$ 70 Mn in 2015. In APAC, the consumer electronics segment accounted for a relatively high revenue share and was valued at more than US$ 350 Mn in 2015.