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Markets and Markets, an international market research institution, recently released a report that the global wireless charging market is expected to reach $4.
5 billion in 2021, and by 2026, this data is expected to increase to $13.
4 billion, with a compound annual growth rate of 24.
6%
during the period.
The major factors contributing to the rapid growth of this market include the growing adoption of wireless technology in consumer electronics, increasing sales of electric vehicles, and the ability to
charge multiple devices.
However, compatibility issues have limited the growth of
wireless charging in various industries.
The receiver market is expected to dominate the global wireless charging market
during the forecast period.
Wireless power receiver ICs are designed
for applications such as smartphones, tablets, wearables, and other related accessories.
Companies such as Samsung, Xiaomi, Apple, and Motorola have started integrating wireless charging receivers into
wearables, smartphones, hearing aids, and other electronic devices.
Wireless charging is also integrated into public places such as offices, airports, hotels, cafes and restaurants
.
From the perspective of application market, the consumer electronics market will occupy the largest market share
of wireless charging during the forecast period.
Due to the heavy use of wireless charging in electronic devices such as smartphones, laptops, wearables, and kitchen appliances, consumer electronics applications are expected to occupy the largest market
.
Major companies such as Apple, Motorola, iOttie and Xiaomi are making wireless charging devices with the Qi standard, including smartwatches, fitness trackers and smart glasses
.
From the perspective of market segmentation, Asia Pacific will be the fastest growing wireless charging market
during the forecast period.
Rapid industrialization has boosted manufacturing in the Asia-Pacific region
.
China is one of the countries most affected by the COVID-19 pandemic in the Asia-Pacific region and a major manufacturing hub
in the region.
Aside from China, active industrial activities in other countries in the region provide huge opportunities
for the development of the wireless charging market.
Markets and Markets, an international market research institution, recently released a report that the global wireless charging market is expected to reach $4.
5 billion in 2021, and by 2026, this data is expected to increase to $13.
4 billion, with a compound annual growth rate of 24.
6%
during the period.
The major factors contributing to the rapid growth of this market include the growing adoption of wireless technology in consumer electronics, increasing sales of electric vehicles, and the ability to
charge multiple devices.
However, compatibility issues have limited the growth of
wireless charging in various industries.
The receiver market is expected to dominate the global wireless charging market
during the forecast period.
Wireless power receiver ICs are designed
for applications such as smartphones, tablets, wearables, and other related accessories.
Companies such as Samsung, Xiaomi, Apple, and Motorola have started integrating wireless charging receivers into
wearables, smartphones, hearing aids, and other electronic devices.
Wireless charging is also integrated into public places such as offices, airports, hotels, cafes and restaurants
.
From the perspective of application market, the consumer electronics market will occupy the largest market share
of wireless charging during the forecast period.
Due to the heavy use of wireless charging in electronic devices such as smartphones, laptops, wearables, and kitchen appliances, consumer electronics applications are expected to occupy the largest market
.
Major companies such as Apple, Motorola, iOttie and Xiaomi are making wireless charging devices with the Qi standard, including smartwatches, fitness trackers and smart glasses
.
From the perspective of market segmentation, Asia Pacific will be the fastest growing wireless charging market
during the forecast period.
Rapid industrialization has boosted manufacturing in the Asia-Pacific region
.
China is one of the countries most affected by the COVID-19 pandemic in the Asia-Pacific region and a major manufacturing hub
in the region.
Aside from China, active industrial activities in other countries in the region provide huge opportunities
for the development of the wireless charging market.
