Wireless charging can be used for a wide range of devices such as cell phones, laptop computers and MP3 players as well as larger objects, such as robots and electric cars etc. The ease and convenience of transmitting power without cord is fuelling the adoption of wireless charging for a wide range of devices. Currently, wireless charging market is driven by the demand from mobile phones and consumer electronics devices, and is expected to witness demand from other sectors too, especially automotive sector.
According to 6Wresearch, the Global Wireless Charging market is expected to reach $9,947.4 million by 2018, growing at a CAGR of 42.6% from 2013-2018.
There are various factors that have accelerated the overall growth of the Global Wireless Charging market. The benefit of a wireless charger is to charge multiple devices at the same time is a key driver of the market and is also expected to be a key cause for the growth in the coming years. In addition to this, many consumer electronics manufacturers have been focusing on exploiting wireless chargers for their respective products as a means of differentiating their products from those of their competitors and thereby increasing their market share.
The Global Wireless Charging market is witnessing certain trends that are expected to have affirmative effect on the overall market growth. The integration of wireless charging at retail mall, airports, and other public locations is expected to undergo positive effect on the overall market growth. Further, market is expected to witness healthy growth from the automotive sector in the near future.
In terms of geographic distribution, the Global wireless charging market in 2012 was largely concentrated around Japan, Korea, and the US. One of the main reasons for this is that these markets have a high degree of technological innovation and have always been among the first countries to adopt any new technology.
The key players of the market are namely, Powermat, Energizer, Verizon, Duracell, Fulton, Witricity, Hotachi and Murata.