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Wireless Charging Market Size, Status, Top Players, Trends in Upcoming Years

In recent years, consumer electronics manufacturers have introduced wireless charging technology in premium smartphones for the convenience of customers. In the coming years, the manufacturers will incorporate this technology in handheld devices, laptops, and drones as well. Apart from the EV and consumer electronics industries, the healthcare, industrial, and aerospace sectors also use wireless charging technology to improve the efficiency of their final products, which operate on electricity.<br><br>

Devanshuraizada
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Wireless Charging Market Size, Status, Top Players, Trends in Upcoming Years

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  1. Wireless Charging Technology Reducing Human Intervention The U.S. Energy Information Administration (EIA) forecasts that the global sales of 200- and 300-mile battery electric vehicles (BEVs) will surge from 280,000 in 2019 to 1.9 million by 2050, whereas, the sales of plug-in hybrid electric vehicles (PHEVs) will increase from 137,000 in 2019 to 230,000 by 2050. The surging electric vehicle (EV) sales are encouraging the EV manufacturers to explore new charging methods to make the charging process seamless and fast. As a result, automakers are rapidly installing wireless charging technology in their EVs to reduce human involvement as this technology enables charging without any need for a plug. Moreover, the booming demand for consumer electronics, such as smartphones, smartwatches, and earphones, will also contribute to the wireless charging market growth during 2021–2030. According to P&S Intelligence, the market revenue reached $4.1 billion in 2020. In recent years, consumer electronics manufacturers have introduced wireless charging technology in premium smartphones for the

  2. convenience of customers. In the coming years, the manufacturers will incorporate this technology in handheld devices, laptops, and drones as well. “Automakers Using Wireless Charging Systems in Electric Vehicles” Apart from the EV and consumer electronics industries, the healthcare, industrial, and aerospace sectors also use wireless charging technology to improve the efficiency of their final products, which operate on electricity. These end-users deploy magnetic resonance, radiofrequency, and inductive charging technologies to ease the charging of numerous electronic devices. Among the various technologies, end-use industries prefer the inductive charging technology over others. This is why this technology is being widely used in low-power devices, such as fitness bands, smartphones, ear pods, and smartwatches, and medical appliances. Wireless chargers being used by various industries consist of transmitters and receivers. Wireless charging technology uses radio frequencies transmitted through a wireless charger and picked up by a receiver within the device to convert them into direct current (DC) voltage. Wireless chargers offer an easier charging experience to customers as the transfer of power through wireless technology is not dependent on the alignment of receiver and transmitter. As many receivers are utilized to charge multiple devices from a single source, EV charging stations are deploying them in abundance. “APAC Will Witness the Fastest Rise in the Sales of Wireless Chargers” In the preceding years, the wireless charging market was dominated by North America, due to the presence of a large number of wireless charger manufacturers, such as Qualcomm Technologies Inc. and Plugless Power Inc., in the region. Moreover, the advancements in the charging technology in the medical equipment sector, especially in the U.S., and the expansion of the EV industry will also fuel the

  3. usage of wireless charging systems in the region in the forthcoming years. Owing to these reasons, North America will retain its dominance in the coming years as well. Whereas, the Asia-Pacific (APAC) region will witness the fastest rise in the sales of wireless chargers in the forthcoming years, due to the burgeoning demand for EVs, such as smartphones, laptops, smartwatches, ear pods, gaming consoles, and personal digital assistants (PDAs) in the region. For instance, according to the Society of Manufacturers of Electric Vehicles (SMEV), 155,400 units of EVs were sold in India during the financial year 2019–20. Furthermore, the China Association of Automobile Manufacturers (CAAM) states that 200,000 new energy vehicles were sold in China in November 2020. Therefore, the booming demand for EVs and consumer electronics will augment the adoption of wireless charging systems in the foreseeable future.

  4. About Us: P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. Contact Us: P&S Intelligence International: +1-347-960-6455 Email: enquiry@psmarketresearch.com Web: https://www.psmarketresearch.com

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