According to a new report published by ResearchAndMarkets’, the size of the global wireless charging market has reached a value of US $ 6.9 Billion in 2018, growing at a CAGR of 24.6% during 2011-2018.
Wireless charging refers to the process of electrically charging battery-powered equipment or devices without physically connected cables. It works on the principle of inductive power transfer or magnetic resonance in which an electric current is passed between two objects through the use of coils so as to induce an electromagnetic field. It provides a safe, convenient and reliable way to charge and power numerous electrical devices at homes and workplaces.
The various benefits associated with wireless charging, such as ease of handling and mobility, protection from electric shocks, flexibility, etc., are contributing to the growth of the global wireless charging market. Further, the rising proliferation of the Internet of Things (IoT) is boosting the demand for wireless charging as it is a convenient method to power an IoT network. Moreover, the integration of wireless charging solutions in automobiles and the increasing applications of wireless charging in the healthcare segment represent some of the other factors that are driving the market.
Market Summary:
- Based on technology, inductive technology represents the largest segment. Other technology segments include resonant charging, radio frequency based charging and others.
- Based on the application, the market has been segmented into consumer electronics, industrial, healthcare, automotive, defence and others. Consumer electronics currently accounts for the largest market share.
- Based on the transmission range, the market has been segmented as short range, medium range and long range wireless chargers.
The "Wireless Charging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets’ offering.
Click here to know more about new trends and growth opportunities in the wireless charging industry.
