Covid 19 Analysis on Wireless Charging Market - Overview
Wireless Charging market is still in the growth phase and new applications are coming in the picture every day. For the purpose of this report, Market Research Future has bifurcated the application segment into consumer electronics, Industrial, Infrastructure, and Automotive among others. Consumer electronics segment accounts for the largest market share in the year 2016. High demand for the consumer electronic products such as smartphones, tablets, wearable devices among others are the major driving factor for the growth of the consumer electronics segment. Smartphones segment accounts for highest market share in the year 2016. Increasing disposable income around the world is leading to the high expenditure on the electronic products which includes purchase of smartphones and wearable devices. Growing demand of smartphones around the world, especially in Asia Pacific is one of the major driving facto which is supporting the market of smartphone wireless charging.
The Covid 19 Analysis on Wireless Charging Market is expected to get high growth in coming years. Huge demand of smartphones, developing market for electric vehicles, growth in semiconductor industry, and developing market of IoT are some factors driving the market growth during forecast period 2016-2023. However, high cost and compatibility issues are some of the factors hampering the market growth.
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High demand for Smartphones
High demand for the smartphones are one of the major driving factor for the market of wireless charging. Consumer electronic segments accounted for 31.53% of market share in the global wireless charging market where Smartphones segment accounted for 51.46% of total market share. Increasing disposable income around the world is leading to the high expenditure on the electronic products which includes purchase of smartphones and wearable devices. A study shows that the total shipment of smartphones around the was estimated to be at 1.5 billion in the year 2016 which is expected to grow at 2 billion shipments by the end of year 2023.
The global Wireless Charging Market is expected to reach USD 24.05 billion by the end of 2023 with 32.56% CAGR during forecast period 2020-2023.
The prominent players in the market of Wireless Charging market are – Samsung Electronics Co Ltd. (South Korea), Texas Instruments Inc. (U.S.), Integrated Device Technology, Inc. (U.S.), NXP Semiconductors (Netherlands), Powermat Technologies Ltd (Israel), WiTricity Corporation (U.S.), PowerbyProxi (New Zealand), Qualcomm Inc. (U.S.), TDK Corporation (Japan), Convenient Power HK Limited (China) among others.
Wireless Charging Global Market- Segmentation
The Wireless Charging Market can be classified into 4 key segments as follows:
- Segmentation by Technology: Inductive Coupling and Capacitive Coupling
- Segmentation by Components: Transmitters and Receivers
- Segmentation by Application: Consumer Electronics (Smartphones, Tablets, Wearable Device), Industrial, Infrastructure, and Automotive.
- Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
Wireless Charging Global Market- Regional Analysis
Asia Pacific is dominating the market of wireless charging due to advancement and high demand for consumer electronic products such as Smartphones, Tablets and wearable devices. Asia Pacific accounts for more than 35% of global population and most of the Asian countries are still in development phase creating high demand for the electronic equipment’s. China and Japan are supporting the supply of wireless charging solution whereas countries these countries are also making huge consumption of these products along with India, South Korea and Taiwan. North America followed by Europe has expected to hold second and third position respectively in the global wireless charging market.
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TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 MARKET DYNAMICS
2.1 Market Drivers 11
2.1.1 High Demand For Smartphones 11
2.1.2 Growing Market Of Electric Vehicles 13
2.1.3 Growth In Semiconductor Industry 15
2.1.4 Growing IOT Market 15
2.2 Market Inhibitors 16
2.2.1 Compatibilities Issues 16
2.2.2 Cost 16
2.3 Supply Chain Analysis 17
2.4 Porter’s Five Forces Analysis 18
3 GLOBAL WIRELESS CHARGING MARKET, BY TECHNOLOGY
3.1 Introduction 20
3.2 Inductive Coupling 21
3.3 Capacitive Coupling 23
3.4 Others 24
4 GLOBAL WIRELESS CHARGING MARKET, BY COMPONENTS
4.1 Introduction 26
4.2 Transmitters 27
4.3 Receivers 29
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