Jul 6, 2020 SOURCE: BusinessWire

Outlook on the Worldwide Wireless Charging Industry to 2027 - Opportunity Analysis and Industry Forecast - ResearchAndMarkets.com

The "Wireless Charging Market By Technology and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

The global wireless charging market size was valued at $6,514.2 million in 2018 and is projected to reach $49,304.1 million by 2027, registering a CAGR of 23.4% during the forecast period.

Wireless power transmission transfers electrical power from transmitter to receiver without any wire connection. Wireless charging technology allows multiple devices to connect wirelessly. The smart charging mats and newly launched ground pads specifically for electric vehicles increase the demand for wireless charging in the market.

Increase in sales of electric vehicles (EVs), constantly evolving portable electronics and wearables market, and frequent need of harvesting ambient RF energy are expected to drive the growth of the wireless charging market during the forecast period. However, expensive technology for its integration and slower charging as compared to other charging technologies are the factors anticipated to hamper the growth of the market. Moreover, excessive research in far-field wireless charging technologies, and increase in adoption of Internet of Things (IoT) are expected to offer lucrative opportunities for the growth of the market in future.

The global wireless charging market is analyzed by technology, industry, and region. Based on technology, it is fragmented into inductive, resonant, radio frequency (RF), and others. The applications covered in this study include electronics, automotive, industrial, healthcare, and aerospace & defense.

Based on region, the global wireless charging market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Taiwan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Key Players

Samsung Electronics Co., Ltd.
Qualcomm Incorporated
Texas Instruments, Inc.
Integrated Device Technology, Inc.
Powermat Technologies Ltd.
WiTricity Corporation
Energizer Holdings, Inc.
Murata Manufacturing Co. Ltd.
Sony Corporation
Fulton Innovation LLC

Key Findings of the Study:

In 2018, the inductive segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 21.8% during the forecast period.
The electronics segment accounted for more than 40.0% of the wireless charging market share in 2018.
The radio frequency segment witness highest growth rate during the forecast period.
UK was the major shareholder in the Europe wireless charging market, accounting for approximately 35.0% share in 2018.

Market Dynamics

Drivers