According to a new report Global Wireless Charging Market, published by KBV research, The Global Wireless Charging Market size is expected to reach $25.6 billion by 2026, rising at a market growth of 28.4% CAGR during the forecast period. Increasing smartphone use is projected to accelerate the growth of the consumer electronics sector of the global market for wireless charging. Additionally, technical advancements in mobile devices such as integrated wireless charging technologies are raising awareness among customers about wireless charging.
The segment of inductive technologies contributed the maximum sales to the industry. The market sales are driven by factors such as hassle-free and enclosed connections offered by the inductive charging technology. Radio frequency technology is projected to grow at a higher growth rate over the coming years compared to other technologies. RF charging has more potential than induction, as it has more technological areas.
The segment of electronics was the main revenue contributor in 2019 and is projected to grow exponentially during the forecast period. Increasing demand for an effective portable electronic charging device is the prime reason for this growth. The healthcare sector is the among the highest revenue contributor in 2019. Some of the major factors for this increase is the surge in the use of wearable devices such as emergency instruments, defibrillators, exoskeletons, pacemakers and wheelchairs in the healthcare industry.
In the regional segment, the North America region is expected to attain a dominant market share. The Asia-Pacific wireless charging market is projected to expand at a faster pace as opposed to other regions between 2019 and 2026. Factors such as increased adoption of fuel-efficient electric vehicles and increased demand for innovation in the portable electronics charging system make a significant contribution to market growth in the Asia-Pacific region.
Structural Insights: https://www.kbvresearch.com/wireless-charging-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Qualcomm, Inc., Texas Instruments, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Sony Corporation, Renesas Electronics Corporation (Integrated Device Technology, Inc.), Murata Manufacturing Co., Ltd., Leggett & Platt, Inc., ConvenientPower HK Limited, Powermat Technologies Ltd.,WiTricity Corporation.
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