The compound annual growth rate of the global wireless charging market from 2018 to 2022 is nearly 20%

According to Technavio's latest research report, the global wireless charger market will grow at a CAGR of nearly 20%
during the period 2018-2022.
It is expected that the global wireless charger market will grow by 46.
46%
year-on-year in 2018.
However, the market growth momentum will slow due
to reduced year-on-year growth.

The report highlights that over-the-air wireless charging is one of the major trends in the
global wireless charger market.
In traditional wireless charging, the device is placed on top
of a charger pad for connection purposes.
When the device is removed from the charging pad and the connection is lost, the phone stops charging
.
In this context, companies are focusing on developing wireless charging technology, in which the technology converts wireless signals into electricity to charge
phones, tablets, and other small devices.
This allows the phone to charge anywhere, as long as it is connected to a wireless charger
.

Qi is the "wireless charging" standard launched by the Wireless Power Consortium (hereinafter referred to as the "Alliance"), the world's first standardization organization to promote wireless charging technology, which has two characteristics
of convenience and versatility.

One of the key factors driving the market is the higher
adoption rate of the Qi standard compared to other standards of multiple companies across the globe.
Qi wireless charging technology makes electronic devices and chargers from different manufacturers compatible
with each other.
The only criteria is that both the device and the charger (receiver and charger) need to meet the Qi specification
.
Therefore, the standard allows every Qi-enabled device to be compatible
with every Qi charging transmitter.
Companies are developing products
that comply with the Qi standard.
Therefore, these products can be charged
at any Qi charging station.

According to Technavio's senior analyst for embedded systems, "Companies like Apple have adopted the Qi standard and are a major driver of
the market.
" Apple announced its favor
for the Qi standard by releasing its products, such as the iPhone X and iPhone 8, to support the standard.
The iPhone X and iPhone 8 models are the most popular smartphones
at the moment.
Like top companies like Apple, more companies are expected to adopt the technology
.
This can be attributed to the fierce competition in the consumer electronics market, where companies need to be on par with their competitors by offering the latest features
.
”

Among the three major charging technologies (inductive, magnetic resonance and RF), inductive accounted for the largest market share in 2017, accounting for nearly 85%.

The market share of this technology is expected to grow by nearly 8%
by 2022.

Regionally, Asia Pacific was the leading region in the global wireless charger market in 2017, accounting for nearly 51% of the market share
.
The Asia-Pacific region is expected to continue to dominate the market and reach the highest growth rate
through 2022.