The global embedded wireless charger market is expected to generate USD 4 billion by 2023, growing at a CAGR of 34% during 2018-2023. This market research report also offers market share analysis in terms of unit shipment volume during the forecast period. The rising number of smartphone users and the convenience of information available to them through many websites are propelling the growth of the global embedded wireless charger market. Wireless charging technology is one of the most emerging and sophisticated technology in the modern world. These designs aim to revolutionize the electronics industry and bring an effective solution to messy wires.
The rising demand for portable chargers that offer a convenient, safe, and reliable way to charge and power millions of electrical devices at home, in the workplace, and across industries will boost the demand for these products in the global market. The technology eliminates the use of physical connectors and cables, provides several efficiencies, cost, and safety advantages over the traditional charging cable. These products are embedded in in-house furniture
, cars, workstations, restaurants, hotels, airports, and other public locations. In 2015, QSR chain McDonald’s and coffee café giant Starbucks installed wireless charging devices. Also, IKEA partnered with Samsung to introduce furniture with embedded charging devices.
The rising disposable income, a growing number of working-class population, and declining prices of smartphones are factors attributing to the growth of the global embedded wireless charger market. These products have a high demand among consumers due to their high degree of compatibility with Qi and Airfuel certified personal electronics, including smartphones, tablets, and music players. The use of smart devices, including smartphones and smart-wearable, increasing sales of luxury cars, and the need for comfort and convenience, is driving the evolution of the global market. The changing automotive
industry and the introduction of modern technologies augment the demand in the global embedded wireless charger market.
The growing integration of advanced features in these systems has led to the development of state-of-the-art infotainment systems and the need for in-car chargers in the global market. The growth in emerging regions, with ongoing industrialization, and international trade activity, especially in the BRICS countries, will create lucrative opportunities for leading vendors. The global embedded wireless charger market is expected to generate $4 billion by 2023, growing at a CAGR of 34% during 2017-2023. This market research report also offers market share analysis in terms of unit shipment volume during the forecast period.
EMBEDDED WIRELESS CHARGER MARKET TRENDS
The increasing penetration of smart wearable is fueling the growth of the global embedded wireless charger market. The rising demand for new product innovations and the use of smartphones, tablets, and other mobile devices are augmenting the development of the global market. Product innovations by tech giants such as Apple and Google are another factor driving this embedded wireless charger market worldwide.
The introduction of super-fast semiconductors, Bluetooth connectivity and touchscreens, and a wide variety of wearable smart tech products will encourage prominent players to develop superior products. Companies such as Fitbit, Apple, Xiaomi, Samsung, and Garmin dominated over 75% of the wearable market revenues. Smartwatches, wristbands, fitness trackers, smart clothing, smart eyewear, and other wearable products are the future of the wearable market. The development of sophisticated sensors, low-power radio chips, and communication technology for electronic products that offer real-time connectivity will boost the sales in the global embedded wireless charger market.
EMBEDDED WIRELESS CHARGER MARKET – SEGMENTATION
This market research report includes a detailed segmentation of the market by
- End-user Type
- Distribution Channel
EMBEDDED WIRELESS CHARGER MARKET – BY TECHNOLOGY
The durability of inductive charging technology will drive the demand in the global embedded wireless charger market.
The global embedded wireless charger market by technology is classified into inductive and resonant. The inductive technology segment dominated more than half of the market share in 2017, growing at a CAGR of more than 33% during the forecast period. Inductive charging uses electromagnetic technology to transfer energy and charge electronic devices wirelessly. This technology provides a protected charging facility and is associated with less risk of electrical faults such as short circuits.
The enhanced durability of these products is attributing to the growth of this segment in the global market. Inductive wireless charging stations are available in several public places such as airports, hotels and are embraced by several leading manufacturers in the global embedded wireless charger market. An inductive wireless charging pad can charge multiple devices compatible with inductive charging technology such as smartphones, smart wearables, tablets, notebooks, etc. Whereas, resonant charging allows movement of the electronic devices during charging and can charge at a distance up to 50mm high and across a wide surface area. Such benefits associated with resonant technology are fueling the demand for these products in the global market.
EMBEDDED WIRELESS CHARGER MARKET – BY END-USERS TYPE
Adoption of smart technologies and IoT in the public sector to boost revenues in the global embedded wireless charger market
The end-user type segment in the global embedded wireless charger market is divided into public (restaurants, hotels, and airports & stations), corporates (workstations, and conference rooms & lobby), transport, domestic, and other. The public segment occupied more than 1/3rd of the total market share in 2017, growing at a CAGR of around 31% during the forecast period. The increasing number of hotels and restaurants and increasing adoption of smart technologies and IoT are the primary factors attributing to the development of this segment in the global market. The use of smart devices is leading the customers to demand on-the-go technology and prefer cordless devices and chargers in the market. The growing preference for convenience and ease will create lucrative opportunities for leading vendors in the global embedded wireless charger market. The continuous upgrades in technologies and enhanced infrastructures will drive innovative products in the worldwide market.
The growing popularity of smart wearable and incorporation of smart cities will encourage the adoption of state-of-the-art wireless technologies globally. Leading luxury car brands such as Mercedes, BMW, Lexus, Audi, and Toyota are installing wireless charging ports to attract a maximum number of consumers in the global market.
EMBEDDED WIRELESS CHARGER MARKET – BY DISTRIBUTION CHANNEL
DIY options and online sales are contributing to the growth of the aftermarket channel in the global embedded wireless charger market
The distribution channel segment in the global embedded wireless charger market is categorized into aftermarket and OEM. The aftermarket segment occupied more than half of the total market share in 2017. The growing awareness, adoption of smart tech by hotels, restaurant, and café, and the increasing number of smartphone users are factors attributing to the growth of this channel in the global market. The growing number of DIY products and the increasing availability of these chargers online will boost the need for aftermarket services in the market. The introduction of a Qi-enabled wireless charger compatible with almost all the Qi-certified phones will add mileage to the aftermarket sales in the global embedded wireless charger market. Moreover, the need for infrastructural upgrades with the latest technology and consumer demands will augment development in this market segment over the next few years. The rising number of premium brands such as Toyota, BMW, Audi, Mercedes, KIA Motors, and Jeep with car models that have built-in charging units boost sales in the OEM segment in the global market.
EMBEDDED WIRELESS CHARGER MARKET – BY GEOGRAPHY
Infrastructural upgrades in North America to revolutionize the global embedded wireless charger market
The global embedded wireless charger market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. North America dominated approximately half of the total market share in 2017, growing at a CAGR of around 30% during the forecast period. The increasing investment for infrastructural development in the communications, road and rail, transport, schools, and hospital sectors is propelling the growth of this region in the global market. The increasing usage of smart devices, the growing dual household working for population, and increasing out-of-home dining and coffee demand are fueling the development of the North American market. The introduction of innovative products in public places will increase the footfalls and sales of the outlets in North America and boost revenues in the global embedded wireless charger market.
The development of the automotive cockpit electronics sector in various Asian countries such as China, Japan, South Korea, and India will propel the growth of the market in this region. The increasing demand for electric vehicles in the European market remains one of the major driving forces of the market growth.
KEY VENDOR ANALYSIS
The global embedded wireless charger market is witnessing intense competition due to the presence of a few top players who are competing amongst them. The vendors are investing in continual innovations and upgrades to sustain the fierce competition in the market. The players are competing by continual innovations and advancements. The entrant of several other new companies will increase the level of competition in the global market. The introduction of many innovative and advanced solutions will enable vendors to gain a larger global embedded wireless charger market share. Additionally, vendors are distinguishing their products and service offerings through a clear and unique value proposition to attract new consumers in the global market.
The embedded wireless charger market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
By End-User Type
- Airports & Stations
- Work Stations
- Conference Rooms & Lobby
By Distribution Channel
- Latin America
- Middle East & Africa