Global Wireless Charging ICs Market: Snapshot
The global market for wireless charging ICs is heavily influenced by the escalating demand for consumer electronics, such as tablets, smartphones, and smart watches, across the world. The compact designing and miniaturization of these IC packages for their effective integration into various portable consumer electronics is likely to add significantly to their uptake, reflecting positively on this market in the near future. The market, however, may be hampered by manufacturing standardization to some extent over the forthcoming years.
Analysts project a considerable scope for wireless changing technology in the healthcare and the aerospace industries, which will create growth opportunities for the wireless charging ICs market in the years to come. Apart from this, these ICs will report increasing deployment in automobiles over the next few years, leading to a substantial rise of this market.
The global market for wireless charging ICs, which was worth US$1.43 bn in 2015, is anticipated to rise at a remarkable CAGR of 24.54% between 2016 and 2024 and reach a value of US$10.14 bn by the end of 2024.
Asia Pacific Wireless Charging ICs Market to Witness Most Prominent Growth
North America, the Middle East and Africa, Europe, Asia Pacific, and Latin America are the key geographical segments of the worldwide market for wireless charging ICs. Asia Pacific led the global market in 2015 with a share of more than 31% and is expected to maintain its dominance in this market in the years to come. The growing demand for these ICs in the consumer electronics sector is the primary growth driver for the Asia Pacific market for wireless charging ICs. This regional market is anticipated to gain significantly from the rising uptake of smartphones and tablets in various Asian countries, such as India and China, over the next few years.
North America, among the rest, is likely to exhibit lucrative opportunities for growth of the market for wireless charging ICs in the near future on account of the increasing utilization of wireless charging electronics devices in the public sector. The rising demand for wireless charging in a number of consumer electronic devices, such as gaming devices, laptops, computers, tablets, mobiles, and televisions are also predicted to boost the North America market for wireless charging ICs.
Receiver ICs to Continue Enjoying Strong Demand
Transmitter ICs and receiver ICs are the two main types of wireless charging ICs available in the global market. Receiver ICs enjoy a greater demand from consumers than transmitter ones and is anticipated to remain the most valued product in this market over the coming years. The former accounted for a demand share of more than 63% in 2015. The phenomenal growth of wireless charging is anticipated to fuel the sales of receiver ICs in the near future, thanks to their multiple product charging capabilities.
NXP Semiconductors, Qualcomm Inc., Vishay Intertechnology Inc., Texas Instruments Inc., MediaTek Inc., Broadcom Corp., On Semiconductor, Toshiba Corp., ROHM Semiconductor, and Linear Technology are some of the key vendors of wireless charging ICs across the world.
Global Wireless Charging ICs Market: Overview
Increasing technological advancement and growing application of wireless charging ICs in the consumer electronics, medical devices and automobile devices is anticipated to have a positive impact on the Wireless Charging ICs market globally. Increasing usage of wireless charging ICs in wearable product such as smart watch, smart glass, electrical shaver, mobile phones and tablets is having a positive impact on the market. Receiver ICs is using as a receiver of wireless charging power. Usage of medium power solution charging ICs are using in different application of automobile charging which is the boosting factors for the Wireless Charging ICs market.
The growing usage of wireless charging ICs in future long range application such as airplane charging, heavy vehicle charging, among others is expected to have a positive impact on the market. In addition, rise in the usage of wireless charging technology for medical devices charging such as heart beat monitoring, blood pressure monitoring is another prime factor which is contributing in the positive development of Wireless Charging ICs market. These advancements are fueling the growth of the Wireless Charging ICs market.
Global Wireless Charging ICs Market: Segmentation
Based on type, the market has been segmented into transmitter ICs and receiver ICs. Substrates are segmented into organic materials and inorganic materials. Based on components, the market is fragmented into relays, circuit breakers and others. Based on power solution, the Wireless Charging ICs market is segmented into low power solution, medium power solution and high power solution. Based on application, the market is bifurcated into smart phones and tablets, wearable electronics devices, medical devices, automobile devices and others.
Furthermore, advance medical components such as blood pressure equipments, heartbeat monitoring watch manufactures are using wireless charging technology. This factor is an opportunity for growth of Wireless Charging ICs market in future. Moreover, manufacturing standardization is limiting many charging ICs equipment manufacturers to enter into the market. This in turn is predicted the limit the growth of Wireless charging IC market in upcoming years.
Geographically, the global Wireless Charging ICs market is categorized into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The market for wireless charging ICs has been provided in (USD million) in terms of revenue as well as the CAGR for the forecast period of 2016 to 2024.
Global Wireless Charging ICs Market: Competitive Analysis
The key players in the Wireless Charging ICs market have been competitively profiled across the five broad geographic regions. This competitive landscape is inclusive of the various business strategies adopted by these major players and their recent developments in the field of wireless charging ICs. Further, the report includes the market attractiveness analysis of different type, components of wireless charging ICs and insight into the major application area of the wireless charging ICs.
The report also provides assessment of different drivers that is impacting the global market, along with the restraints and opportunities that has also been covered under the scope of this report. For each segment (such as mobile phones and tablets, wearable consumer electronics applications), market dynamics analysis has been provided. All these factors helps in determining different trends that has been impacting the overall market growth. Moreover, after taking into consideration all this factors, an extensive analysis of the region wise growth parameters of Wireless Charging ICs market along with the overall assessment for the forecast period of 2016-2024 has been also been provided within this report. Moreover, patents analysis is also included in the scope of the research.
Some of the major companies involved in the wireless charging ICs market include NXP Semiconductors (Netherlands), MediaTek Inc. (Taiwan), Qualcomm Inc. (U.S), Texas Instruments Inc. (U.S), Broadcom Corporation (U.S), Toshiba Corporation (Japan), On Semiconductor (U.S), Linear Technology (U.S) and ROHM Co. Ltd.(Japan) among others.
The global wireless charging ICs market been segmented as follows:
- Transmitter ICs
- Receiver ICs
- Circuit Breakers
By Power Solution
- Low Power Solution
- Medium Power Solution
- High Power Solution
By Power Solution
- Smart Phones and Tablets
- Wearable Electronic Devices
- Medical Devices
- Automobile Devices
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America