Wireless Charging Market to Reach $71.21 Billion, Globally, by 2025 at 38.7% CAGR, Says Allied Market Research

Wireless Charging Market

Allied Market Research recently published a report, titled, “Wireless Charging Market by Technology (Inductive, Resonant, Radio Frequency (RF), and Others), and Industry Vertical (Electronics, Automotive, Industrial, Healthcare, and Aerospace & Defense): Global Opportunity Analysis and Industry Forecast, 2018–2025”. The report offers insights on the drivers & opportunities, key segments, and prominent market players in the industry. According to the report, the global wireless charging market accounted for $5.22 billion in 2017 and is estimated to reach $71.21 billion by 2025, registering the CAGR of 38.7% during the forecast period.

Increase in sale of electric vehicles, rise in technological innovations in wearable market, and need to harvest ambient RF energy have boosted the growth of the global wireless charging market. However, high cost and comparatively slower charging hinder the market growth. On the contrary, excessive research in far-field wireless charging technologies and surge in adoption of internet of things (IoT) are expected to create lucrative opportunities for the market players in the coming years.

The global wireless charging market report is segmented into technology, industry vertical, and geography. Based on technology, the report is divided into inductive, resonant, radio frequency (RF), and others. The inductive segment is estimated to garner the highest revenue in 2017 and is expected to continue its dominance.

On the basis of industry verticals, the report is divided into electronics, automotive, industrial, healthcare, and aerospace & defense. In 2017, the automotive industry segment held the largest market share. On the basis of region, the market report splits into Asia-Pacific, Europe, North America, and LAMEA. Asia-Pacific region is anticipated to register the fastest CAGR during the forecast period. Moreover, the Asia-Pacific region held the largest share, followed by North America. However, LAMEA region is estimated to manifest growth at the highest CAGR of 41.5% during the forecast period.

The global wireless charging market report analyzed the revenue generated by the major market players, including Samsung Electronics Co., Ltd., Texas Instruments, Inc., Powermat Technologies Ltd., Energizer Holdings, Inc., Sony Corporation, Qualcomm Incorporated, Integrated Device Technology, Inc., WiTricity Corporation, Murata Manufacturing Co. Ltd., and Fulton Innovation LLC. They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.

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