Wireless Charging Market Growth, Size, Share and Forecast

According to Stratistics MRC, the Global Wireless Charging Market is accounted for $1.3 billion in 2015 and is expected to reach $33.2 billion by 2022 growing at a CAGR of 58.8% from 2015 to 2022. Growing intake for powerful devices and increasing number of smartphones are the key drivers boosting the market growth. The factors such as growing number of electrical vehicles, rising number of investments in R&D sector and increasing a huge demand for multi chargeable devices are the factors favoring the market growth. However, lacks of incorporated standards are the major restraints hindering the market. Moreover, growing adequacy in wireless charging and increasing number of new innovations in products & applications are the major opportunities involved over the forecast period.

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Consumer Electronics dominated the global wireless charging application market with a largest market share and is expected to continue its dominance throughout the forecast period due to lack of electric points in public places and increasing importance of cordless power. Asia pacific is expected as a prominent region for wireless charging market due to growing number of consumer electronic devices such as smartphones, laptops and wearable devices. However, North America accounted as a major regional market due to growing number of industrial applications for wireless charging and increasing number of wireless power technologies among consumers.

Some of the key players in this market include Texas Instruments, Inc., Qualcomm Inc, Energizer Holdings, Inc, Witricity Corp, Powerbyproxi Ltd., Duracell Powermat, Convenientpower HK Ltd., Oregon Scientific, Leggett & Platt Inc., Murata Manufacturing Co. Ltd, Integrated Device Technology, Powermat Technologies Ltd., GETPOWERPAD™ MediaTek Inc. and Mojo Mobility, Inc.

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