Global Wireless Chargers Market: Snapshot
With the latest iPhones and Androids allowing for wireless charging, there is no stopping the market now. In fact, the wireless charging market is getting bigger by the day thanks to more and more devices supporting the wireless charging standard. It has almost become a norm since it is super convenient and hassle-free. And as an added bonus, a wireless charger can also become as a desk decor if you find the right device.
The primary advantage of wireless charger is that it thwarts overcharging as it automatically disconnects with the phone once it is charged completely. Besides, when a phone is plugged into a wireless charger, the initial shock can damage the battery over time. A wireless charger thwarts this since a phone's battery just needs to be placed in the charging pad that also provide temperature control and over-surge protection. They also prevent short circuits.
Continued product development in this field, on the account of the cutthroat competition in the global electronics market, has meant products have become more developed over the years. Now it’s all about wireless chargers that not just charge but double up as a lot of other things by having USB ports or USB-C hubs.
Growth in the number of electric vehicles, computers, and small electronic gadgets are some of the main factors that are driving demand in the market. Apart from that, rising application of communication technology and computer is also benefitting the market.
However, wireless chargers are costly and this is deterring the market. They also take longer time to charge and consume more electricity. In addition, rise in alternative wireless charging techniques such as ultrasound and solar power or ultrasound are also posing a challenge to wireless charging.
Global Wireless Chargers Market: Snapshot
The process of charging a device by using electromagnetic fields in order to transfer power from a source to a receiving point on the device is called wireless charging. As the name suggests, wireless charging absolutely does not need any physical medium of transferring electrical energy (i.e. via cords, cables, wires, and adapters).
Wireless charging is often known as a safe and reliable way of charging and powering numerous devices. This technique is essentially suited for any kind of environment, be it charging at homes, in industrial and other energy-intensive sectors, and even at workplaces. As the use of physical connecting devices is eliminated, there are several advantages of using wireless charging. Some of these are: better efficiency, cost saving, better safety, as well as being more convenient than traditional charging scenarios. Other advantages of using wireless chargers is with respect to reducing the risk of spark, which may happen while using wired chargers. Charging without using any physical contact can also help towards preventionof corrosion of elements, which could be a drawback of wired charging systems. Smartphones, small hand-held device, as well as large industry grade heavy duty machines can all be charged wirelessly.
The principle of magnetic resonance is the main reason behind the working of wireless charging. This process works by using specific coils to produce an electromagnetic field from a source. This field is then used as form of electricity to charge a desired device or a machine.
The working process of wireless charging mainly starts with the main voltage getting converted into a high frequency alternating current (AC). The AC is reaches the transmitter coil, through transmitter circuits. The AC then produces a magnetic field that varies with time in the transmitter coil. This field then elongates to reach the receiver coil beyond the source’s boundaries, which then gets converted to direct current (DC), in order to charge a device’s battery.
The process of recharging batteries of various electrical devices without making use of any cables that are connected physically. The communication that takes place between the source of power i.e. transmitter and the device called receiver is generally through electromagnetic induction or microwave. Wireless chargers refer to that device that enables such a charging process.
The market of wireless chargers is driven by the rapid growth in the usage of electric vehicles, small electronic gadgets and computers market. Growing application of communication technology and computer all over the world has been contributing to the growth of the market. Increasing demand of transmission bandwidth and high-speed connectivity are also responsible for the growth of the market of wireless chargers market.
Alternative wireless charging techniques such as solar power or ultrasound have been developed and this acts as restraining factor for wireless chargers that run on electricity.
However, wireless chargers are costlier options and this is one of the restraining elements of the market of wireless chargers. Wireless chargers, however, takes longer to charge, consumes more electricity and generates more heat. Thus these attributes act as restraining factors for the market.
The market is segmented by application, technology and by geography. By application, the market is divided into consumer electronics, healthcare and automotive. The segment of consumer electronics accounted for the largest market share in 2016. Increasing usage of smartphones, wearables and tablets. These chargers are mostly used in small gadgets such as smartphones, however, laptops, computers also use wireless chargers. These wireless chargers also find its usage in the healthcare department. Gadgets like sugar measuring device use wireless chargers. Increasing usage of these chargers in office automation, medical and communication are also propelling the growth of this segment.
On the basis of technology, the wireless chargers market is divided into magnetic resonance, radio frequency, inductive coupling technology and other microwave optical beam. The inductive coupling category held the largest market share during 2016 and is expected to propel this market over the forecast period. When used in closer proximity, greater efficiency, operational convenience and ease of implementation are responsible for the growth of the market segment of inductive coupling technology.
Geographically, the market is segmented into North America, Asia Pacific (APAC), Europe, Middle East and America (EMEA) and Latin America. North America has been leading the market and accounts for the biggest market share. North America is anticipated to grow substantially during the forecast period of 2016-2024 owing to the increasing demand and usage of small-sized consumer electronics gadgets across the continent. The US accounted for the biggest market share in this geographical segment and is expected to lead throughout the forecast period.
Europe also accounts for a substantial market share in this market and occupies the second largest market share of wireless chargers market. The region is expected to grow well over the forecast period of 2016-2024. Owing to the increasing penetration of internet and data traffic and high growth of smartphones in the APAC region, the region is set to experience the fastest growth over the forecast period. Also increasing demand of laptops and personal computers in this region has led to the growth of this market. In China, Japan these chargers are increasingly used in electric vehicles. The market of Middle East and Africa is also expected to grow significantly over the forecast period.
Some of the major players of the wireless chargers market Qualcomm Incorporated (the U.S), Energizer Holdings (the U.S.), Evatran (the U.S.), Powermat Technologies Ltd (Israel), WiTricity (the U.S.), Fulton Innovation (the U.S.), Integrated Device Technology, Inc (the U.S.), Texas Instruments Inc. (the U.S.), Leggett and Platt (the U.S.), UBeam (the U.S.) amongst many others.
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