Sharp Increase Projected in Wireless Charging Market

- Advertisement -

The wireless charging market in APAC is expected to grow at highest CAGR during forecasted period. Rapid industrialization has boosted the manufacturing sector in APAC

The overall wireless charging market is expected to be valued at $4.5 billion in 2021 and is projected to reach $13.4 billion by 2026, at a CAGR of 24.6 per cent between 2021 and 2026. The driving factor for the growth of this market includes the rising adoption of wireless technology in consumer electronics, an increase in sales of electric vehicles, and the ability to charge multiple devices. However, compatibility issues restrict the growth of wireless charging in various industries.

“The wireless power receiver IC is designed for applications such as smartphones, tablets, wearables, and other related accessories. Companies such as Samsung, Xiaomi, OnePlus, Apple, and Motorola have begun integrating wireless charging receiver into wearables, smartphones, hearing aids, and other electronic devices. Wireless charging is also integrated into public spaces such as offices, airports, hotels, cafes, and restaurants,” read a report by Markets and Markets.

- Advertisement -

APAC to be the fastest growing market

The wireless charging market in APAC is expected to grow at highest CAGR during forecasted period. Rapid industrialization has boosted the manufacturing sector in APAC. China is one of the most impacted countries by the COVID-19 pandemic in APAC and a major manufacturing hub in the region.

Apart from China, vigorous industrial activities in other countries of the region offer lucrative opportunities for the growth of the wireless charging market. Consumer electronics application is expected to hold the largest market owing to the large number of usage of wireless charging in electronics devices such as smart phones, laptops, wearables, and kitchen appliances. Major companies such as Apple, Motorola, iOttie, and Xiaomi are manufacturing wireless charging devices including smartwatches, fitness trackers, and smart eyewear with Qi-standard wireless charging technologies.

Receivers market to lead the wireless charging market

The wireless power receiver IC is designed for applications such as smartphones, tablets, wearables, and other related accessories. Companies such as Samsung, Xiaomi, OnePlus, Apple, and Motorola have begun integrating wireless charging receiver into wearables, smartphones, hearing aids, and other electronic devices. Wireless charging is also integrated into public spaces such as offices, airports, hotels, cafes, and restaurants.

The magnetic resonance wireless charging technology is used to charge multiple devices from the same charger. It is the most versatile wireless charging method and used for objects such as electric cars, laptops, computers, and power tools.

Companies providing magnetic resonance technology include Infineon, Energizer, and WiTricity. In May 2020, China Electricity Council introduced a set of national standards for wireless charging electric vehicles that are based on the magnetic resonance charging technology developed and patented by WiTricity.

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

“AIC-T-Hub Aims To Grow Startups So More Indian Unicorns Can Contribute To The GDP”

0
T-Hub has collaborated with Atal Incubation Centre (AIC), initiated by the Atal Innovation Mission to incubate semiconductor startups, fostering innovation for India’s advancement in...

Pros And Cons: Boult’s Varun Gupta On Contract Electronics Manufacturing

0
While contract electronics manufacturing is not a new concept in India, it has lately picked up a pace never seen before. But what has...

Crompton Greaves Starts Kitchen Appliance Manufacturing In Vadodara

0
This move aims to boost product quality and operational efficiency, enhancing the delivery of innovative, high-quality kitchen solutions to meet growing consumer demands. Crompton Greaves...

Buzz

ASUS IoT And BRESSNER Technology Launch CTOS

0
The collaborative approach seamlessly integrates advanced features across CTOS solutions, fostering synergy. ASUS IoT has recently unveiled a strategic collaboration with BRESSNER Technology, aiming to...

Samsung Appoints Veteran Amid AI Chip Challenges

0
This shake-up, effective immediately, sees Young Hyun Jun transitioning from his role in future business planning to tackle the booming demand for high-end AI...

Imec-Led European Labs To Get $2.7B From Chips Act Funding

0
Europe's chip revolution gains momentum with a €2.5 billion investment in cutting-edge pilot production line for sub-2nm technologies, aiming to elevate domestic production and...

Important Sectors

Samsung Appoints Veteran Amid AI Chip Challenges

0
This shake-up, effective immediately, sees Young Hyun Jun transitioning from his role in future business planning to tackle the booming demand for high-end AI...

Imec-Led European Labs To Get $2.7B From Chips Act Funding

0
Europe's chip revolution gains momentum with a €2.5 billion investment in cutting-edge pilot production line for sub-2nm technologies, aiming to elevate domestic production and...

Progress And Challenges In Autonomous Commuting

0
Despite over a decade of technological advancements and testing in cities like Phoenix and San Francisco, robotaxis still faces significant hurdles.  Companies like Waymo, Cruise,...

New EV Policy Offers Incentives For Plant And Machinery Investments

0
Investments in creating physical infrastructure such as plants, machinery, charging stations, and other assets developed or acquired by companies will qualify for incentives under...

Dr Yashodhan Gokhale Joins JSW Energy As VP

0
Interestingly, he had started his professional innings in the role of a Research Chemist with Sudarshan Chemical Industries Dr Yashodhan Pramod Gokhale has joined JSW...

Manufacturing

Imec-Led European Labs To Get $2.7B From Chips Act Funding

0
Europe's chip revolution gains momentum with a €2.5 billion investment in cutting-edge pilot production line for sub-2nm technologies, aiming to elevate domestic production and...

EVR Motors Discusses Tech Sharing With Indian OEMs

0
The Israel-based EVR Motors designs Radial Flux Permanent Magnet (RFPM) motors and licenses this technology for manufacturing by OEMs and component makers. EVR Motors, an...

Automotive Electronics Industry Growth Prospects And Strategies

0
From electric vehicles (EVs) to autonomous vehicles, discover the challenges, key players, and market segments driving a $136 billion industry revolutionising vehicles and the...
Siemens and CSA

Siemens To Sell Innomotics To KPS For $3.8B

0
Siemens chief financial officer Ralf Thomas expressed his pleasure at the significant progress made in optimizing their portfolio through the sale of Innomotics to...
Siemens and CSA

Siemens Limited Announces ₹1000 Crore Capex

0
In a statement, Siemens announced that it is expanding its factory operations in Goa to address the rapidly growing demand for essential industry components. Siemens...