Will Flexibility of Resonant Technology Boost Sales in the Global Embedded Wireless Charging Market?
Arizton’s recent market research report on the global embedded wireless charging market identifies Powermat Technologies Ltd, Aircharge, Zens Group BV, U-way, Legrand, EazyCharge, Channel Well Technology (CWT), Leggett & Platt, Wi-Charge, Mopar, Mojo Mobility, PowerSquare, UP-MFG, Energous, Kube Systems, Eggtronic, ChargeSpot, Samsung, and Chargifi as the leading vendors that are likely to dominate the market during the forecast period. This research report provides a detailed analysis of market segmentation by technology (inductive and resonant), by end-users type (public, corporates, transport, domestic, and other), distribution channel (aftermarket and OEM), and by the geography (APAC, Europe, North America, Latin America, and MEA).
The global embedded wireless charging market is projected to reach values of around $4 billion by 2023, growing at a CAGR of more than 34% during 2017-2023.
This market research report also offers market share analysis in terms of unit shipment volume during the forecast period.
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The global embedded wireless charging market is divided into four major segments that include by technology, end-user type, distribution channel, and geography.
Resonant technology segment to grow the fastest in the global embedded wireless charging market during the forecast period
The global embedded wireless charging market by technology is segmented into inductive and resonant. Resonant technology segment dominated more than 1/3rd of the total market share in 2017, growing at a CAGR of around 36% during the forecast period. The increasing use of resonance technology to charge electronic devices over 3-5meters is driving the growth of this segment in the global market. This technology is perfect for devices that require a large amount of power, such as electric cars, robot, vacuum cleaner or laptops. The inclusion of resonant technology in both Qi and Airfuel Alliance will drive the growth of the global embedded wireless charging market. Resonant charging allows movement of the electronic devices while charging and it can charge at a distance up to 50mm high and across a wide surface area. The increasing use of this technology will help charge multiple devices that have different power requirements simultaneously will transform the global market over the next few years. This technology is, so powerful that it can be transmitted from through a variety of materials such as wood, stone, and hence is embedded in tables, desks or walls in the market. Resonant technology offers a certain degree that allows it to supply low power for electronic devices such as smart wearables, and all the way up to high power required to charge an electronic vehicle thereby, boosting sales in the global embedded wireless charging market.
Domestic segment to grow at an impressive CAGR in the global embedded wireless charging market during the forecast period
The end-user segment in the global embedded wireless charging market is divided into public, corporates, transport, domestic, and other. The domesticsegment will gain around 3% market share by 2023, growing at CAGR of more than 39% during the forecast period. The rising number of smart home and home furniture with embedded chargers is attributing to the growing demand in the global embedded wireless charging market. The wider adoption of consumer IoT ecosystem will transform the global market over the next few years. The growing smart home concept will fuel the concept of the embedded charger in the houses and increase its global embedded wireless charging market share. The increasing awareness about innovative technologies and the presence of better housing systems across the North American region will create lucrative opportunities for players in the market. With the increase in disposable income and economic development across emerging economies will boost the demand. The growing need for convenient and easy-to-use product will augment the development of the global embedded wireless charging market.
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Latin America to grow at a significant CAGR in the global embedded wireless charging market during the forecast period
The global embedded wireless charging market by geography is classified into APAC, Europe, North America, Latin America, and MEA. Latin America is the fastest growing region in the global market at a CAGR of approximately 44% during the forecast period. The increase in per capita disposable income of people and the flow of FDI are the major factors attributing to the growth of the market.
The growing demand for new technologies and services across the Latin American region will drive the growth of the global embedded wireless charging market.
The rising awareness, an increasing number of users of smartphones, and the expansion of key vendors in the region will positively impact the development of the global embedded wireless charging market during the forecast period.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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