Albany, NY, March 17, 2016 (GLOBE NEWSWIRE) -- Market outlook of the global wireless charging market
Technavios market research analyst predicts the Global Wireless Charging Market to grow at an impressive CAGR of more than 33% by 2020. The augmented adoption of wireless computing devices like tablets and smartphones will necessitate the need for wireless charging devices as they help in charging devices wherever and whenever required; thus, eliminating the need for charging cables.
The integration of wireless charging for smartphones in automobiles will drive market growth during the forecast period. With the integration of wireless charging pads in automobiles, the consumer no longer needs to keep a charger in the car or worry about plugging their device into the vehicle. Since this technology is estimated to become prevalent across all vehicle segments during the forecast period, their augmented incorporation in all variants of automobiles will lead to market growth.
Application-based segmentation of the wireless charging market
- Consumer electronics
- Electric vehicles
In this market study, Technavio analysts have estimated the consumer electronics segment to be the largest market segment during the estimated period. Much of this segments growth can be attributed to the proliferation of devices like smartphones, tablets, portable PCs, and wearable electronics, which require frequent charging for optimal performance.
Geographical segmentation of the wireless charging market
- Americas
- APAC
- EMEA
Technavios market research analysts have estimated the Americas to account for more than 36% of the total market share by 2020. The growing awareness of wireless power technology among consumers and the increase in adoption of wireless charging for industrial applications are the two critical factors that propel market growth in this region during the estimated period.
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Competitive landscape and key vendors
This market is highly competitive and is characterized by the presence of large players and start-ups like Ubeam. Since the global wireless charging market is still in its development stage, the vendors in this market try to gain prominence by offering high-quality, affordable products to consumers. To survive and succeed in this market, the vendors have to distinguish their products and service offerings through a clear and unique value proposition.
The key vendors in this market are
- Duracell
- Fulton
- Qualcomm
- WiTricity
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- Other prominent vendors in the market include Anker, Energizer Holding, LS Cable & System, Oregon Scientific, Pure Energy Solutions, Texas Instruments, Wisepower, and Leggett and Platt.
- Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global wireless charging market?
- What are the key market trends impacting the growth of the wireless charging market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global wireless charging market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the wireless charging market?
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