Automotive Wireless Charging Trays Market: Introduction

  • A wireless charging tray, which can be located on the central console or under the armrest, enables the charging of smartphones without the need of an extra cable.

Key Drivers of Automotive Wireless Charging Trays Market

  • One of the major trends driving the automotive industry is the emergence of a sharing economy and growing preference for usership rather than ownership. These car-sharing models have increased the number of cars moving on road. At the same time, ride-hailing, package delivery trends have been fueling the need for convenient charging points in vehicles.

Challenges in Automotive Wireless Charging Trays Market

  • The COVID-19 pandemic has affected local as well as global automotive supply chains, manufacturing and R&D operations, thus hampering the automotive industry. Post first wave of COVID-19, global economies have started opening automotive manufacturing and supply chain operations, thus the COVID-19 impact on the industry seems to have reached a state of normalcy; however, a resurgence in COVID-19 cases in countries across Europe has forced governments to impose a second round of lockdown restrictions. Consequently, the uncertainty in the automotive industry continues. However, easing of lockdown restrictions and stagnant demand during the times of lockdown have resulted in the recovery of automotive and ancillary sales in the last few months.

Opportunities in Automotive Wireless Charging Trays Market

  • Decrease in the prices of automotive wireless charging trays in the next few years, is estimated to prompt OEMs to install wireless charging trays in medium and low range vehicle classes, thereby offering significant opportunity for the automotive wireless charging trays market

Asia Pacific to Dominate Automotive Wireless Charging Trays Market

  • In terms of geography, Asia Pacific is a significant market for automotive wireless charging trays. China is a prominent market for the automotive industry with an annual sale of 25.76 million new vehicle units. India is also a prominent market with future sales and production of vehicles in the country driven by a rise in the population and income levels of the middle class. In 2019, India became the fourth largest auto market, in terms of sales, displacing Germany, with about 3.99 million units sold in the passenger and commercial vehicles categories. Furthermore, the Government of India is focused on the development of domestic manufacturing and R&D industry in the country under the scheme of ‘Make in India’, thus offering considerable opportunity for the wireless charging trays market in the country. Japan and South Korea are major automotive producing countries in the region with the presence of prominent and established automotive brands such as Hyundai, Honda, Nissan, and Kia that are export-centric and cater to the domestic demand for automobiles. Consequently, these factors are estimated to propel the automotive wireless charging trays market in the region.

Key Players Operating in Automotive Wireless Charging Trays Market

The global automotive wireless charging trays market is consolidated. A few of the key players operating in the global automotive wireless charging trays market are:

  • HARMAN International
  • Aircharge
  • INBAY
  • Molex
  • Infineon Technologies AG
  • WiTricity Corporation

Global Automotive Wireless Charging Trays Market: Research Scope

Global Automotive Wireless Charging Trays Market, by Vehicle Type

  • Passenger Vehicle
    • Hatchback
    • Sedan
    • Utility Vehicle
  • Light Duty Vehicle
  • Buses & Coaches
  • Trucks

Global Automotive Wireless Charging Trays Market, by Sales Channel

  • OEM
  • Aftermarket

Global Automotive Wireless Charging Trays Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Nordic Region
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automotive Wireless Charging Trays Market