In-car Wireless Charging Market: Introduction
- Staying connected on the go has become vital to the modern-day-lifestyle of consumers globally. This requires smartphones to be charged at all times. In-car wireless charging is an emerging innovation for modern vehicles, which is used to charge smartphone and other electric devices in vehicle. In-car wireless charging technology employs an inductive coupling and electromagnetic field to transmit energy from a transmitter to a receiver. This technology facilitates long-term reliability, diverse smartphone model compatibility and rapid charging speed. In-car wireless charging system (WCS) involves wireless chargers used to charge electronic devices, for example, cell phones, tablets, and MP3/WAV players in the car. The gadget charges the devices through inductive charging.
Key Drivers of In-car Wireless Charging Market
- Consistent use of smartphones and other electronic gadgets has increased battery consumption of such devices, thereby requiring frequent charging. Therefore, availability of in-car charging that can enable vehicle occupants to charge smartphones and other devices can be appealing to numerous consumers. Technological advances in in-car wireless charging module and accessories provided by prominent vehicle producers is anticipated to propel the global in-car wireless charging market.
- Demand for luxury features in vehicles is expected to compel automakers to install in-car wireless charging system in their vehicles. Such features were available in top-end vehicle models in the last few years. However, rise in competition among automakers, in order to attract more number of consumers, have boosted the adoption of luxury features such as in-car wireless charging system in their vehicles. This, in turn is expected to offer lucrative opportunity for key players engaged in the manufacturing of in-car wireless charging systems during the forecast period.
Global In-car Wireless Charging Market: COVID 19 Impact
- Globally, the outbreak of the corona pandemic outbreak significantly impacted the demand for consumer electronics, industrial electronics and automotive electronics in 2020. China is one of the largest suppliers of raw materials as well as the finished products. The industry in China is witnessing a reduction in production in 2020 owing to disruption of supply chain and volatility in prices of raw material. Additionally, the scarcity of raw material owing to stoppage of mining activities across the globe owing to forced shutdown of manufacturing activities is posing as challenge in-car wireless charging market. However, the market is expected to recover from economic losses, as the demand for in-car wireless charging is projected to rise during the forecast period.
Asia Pacific to Account for Prominent Share of Global In-car Wireless Charging Market
- In terms of region, the global In-car Wireless Charging Market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.
- Asia Pacific is expected to hold a major share of the in-car wireless charging market owing to an increase in production and sale of electric passenger cars across China, South Korea, and India. China is one of the largest manufacturer aftermarket products such as in-car wireless charging, which are available at cheaper costs. Population across Asia pacific is changing preferences towards electric cars at a fast pace. Therefore, an increase in sale of electric vehicles is expected to drive the in-car wireless charging market across Asia Pacific.
Key Players Operating in In-car Wireless Charging Market
The global in-car wireless charging market is concentrated owing to the presence of top manufacturers. A few key players operating in the global in-car wireless charging market are:
- Apple Inc.
- Hella KGaA Hueck & Co
- Infineon Technologies AG
- Mojo Mobility, Inc.
- Power square
- Powermat Technologies Ltd
- Qualcomm Technologies, Inc.
- Samsung Electronics Co.
Global In-car Wireless Charging Market: Research Scope
Global In-car Wireless Charging Market, by Vehicle Type
- Passenger Vehicle
- Sports Cars
- Commercial Vehicles
Global In-car Wireless Charging Market, Electric Vehicle Type
- Battery Electric Vehicle
- Hybrid & Plug-in Hybrid Electric Vehicle
Global In-car Wireless Charging Market, by Device Type
- Other Devices
Global In-car Wireless Charging Market, by Technology
- Inductive Power Transfer
- Conductive Charging
- Magnetic Resonance Charging
Global In-car Wireless Charging Market, by Charging Standards
- Qi Standard
- PMA Standard
Global In-car Wireless Charging Market, by Sales Channel
Global In-car Wireless Charging Market, by Region
- North America
- Nordic Countries
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- 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
- 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?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across 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.