The global wireless charging market is estimated to surpass $30 billion by 2026. With respect to technology, the RF based technology is anticipated to rise since it helps in eradicating the need for proper alignment in small devices like wearables and medical implants. These RF charging technologies could be segregated into near-field as well as far-field wireless charging and are increasing the demand as well.
Citing an example, Humavox recently developed a near-field RF based charging system which allows any 3D volume to be transformed into a charging station, including things like drawers, cup holders etc.
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With growing demand for high-end smartphones and the rising popularity of electrical vehicles, the global wireless charging market is expected to chalk out a remunerative growth graph through a diverse array of verticals in coming years.
Additionally, rising adoption of wireless charging modules in aircraft cabins is also being witnessed recently as aerospace technology innovators continue to develop advanced charging systems that can provide consumer comfort, fast, and safe recharging of electronic devices. This is consequently opening a highly remunerative revenue pocket for the wireless charging market.
The adoption of wireless charging in the automotive sector could transform the automotive landscape. In fact, several industry players are already investing towards efforts to foray into this novel industry vertical. For instance, Qualcomm Technologies, Inc. partnered with FIA Formula E Championship for the development of Halo WEVC (Wireless Electric Vehicle Charging) technology. Users could now charge their vehicles with ease by moving over the charging base implanted in parking spaces or on roads.
While the initial cost of installing the technology is relatively high, it more than makes up for it in the long-term with reduced maintenance costs for future as well as the effect on environment by using renewable energy solutions.
Airports and airlines in the Middle East & Africa region have deployed various charging points in lounges as well as seats onboard. The carriers functioning in the GCC region have majorly executed this facility to improve their customer experience in short-haul and long-haul flights.
Citing an example, Emirates has installed nearly 30 wireless charging valet trays, that use a magnetic field to move power wirelessly to the tray. Through such efforts, wireless charging is predicted to become prevalent in the MEA region over the forecast timespan.
Given the growing prominence of the aviation sector, several industry players are also looking to establish a strong presence in the field to bring in revenue growth. In fact, Astronics Advanced Electronic Systems, in April 2018, announced advancement of the WCM (Wireless Charging Module) especially optimized for aircraft, thereby enabling the charging of personal electronic devices like laptops and smartphones.
The industrial wireless charging market is estimated to be in high demand in countries of Asia like South Korea, India, and China. There are centers of manufacturing in industrial settings, since they could eliminate the danger of explosions induced by stray sparks.
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Overall, the above-mentioned factors are likely to offer a wide array of growth opportunities for wireless charging industry.
The competitive spectrum of global wireless charging market includes companies like Leggett & Platt, Inc., Powermat Technologies, Murata Manufacturing Co. Ltd., WiTricity Corporation, MediaTek, Inc., Texas Instruments, Inc., Powercast Corporation, Mojo Mobility, Inc., and Qualcomm Incorporated.
Table of Contents (ToC) of the report:
Chapter 4. Wireless Charging Market, By Technology
4.1. Key trends by technology
4.2.1. Market estimates and forecast, 2016 – 2026
4.3.1. Market estimates and forecast, 2016 – 2026
4.4.1. Market estimates and forecast, 2016 – 2026
4.5.1. Market estimates and forecast, 2016 – 2026
Chapter 5. Wireless Charging Market, By Application
5.1. Key trends by application
5.2. Aerospace & Defense
5.2.1. Market estimates and forecast, 2016 – 2026
5.3.1. Market estimates and forecast, 2016 – 2026
5.4.1. Market estimates and forecast, 2016 – 2026
5.5.1. Market estimates and forecast, 2016 – 2026
5.6.1. Market estimates and forecast, 2016 – 2026
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