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New Market Opportunities in the Wireless Charging Market

The growth of the wireless charging market is attributed to the rising adoption of wireless technology in consumer electronics; increase in sales of electric vehicles; and ability to charge multiple devices.

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New Market Opportunities in the Wireless Charging Market

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  1. MarketsandMarkets Presents New Market Opportunities in the Wireless Charging Market Wireless Charging Market with COVID-19 Impact by Implementation (Transmitters, Receivers), Technology (Magnetic Resonance, Inductive, Radio Frequency), Application (Consumer Electronics, Healthcare, Automotive), and Region - Global Forecast to 2026 https://www.marketsandmarkets.com/Market-Reports/wireless-charging-market-640.html

  2. The overall wireless charging market is expected to be valued at USD 4.5 billion in 2021 and projected to reach USD 13.4 billion by 2026, at a CAGR of 24.6% between 2021 and 2026. The growth of the wireless charging market is attributed to the rising adoption of wireless technology in consumer electronics; increase in sales of electric vehicles; and ability to charge multiple devices. Browse 112 market data Tables and 48 Figures spread through 167 Pages and in-depth TOC on "Wireless Charging Market with COVID-19 Impact - Global Forecast to 2026"

  3. The consumer electronics application is projected to to hold largest market share of wireless charging market from 2021 to 2026. Consumer electronic products such as smartphones, laptops, tablets, MP3s, wearables, gaming console, and personal digital assistance (PDAs) are in high demand, especially in the Asia Pacific region owing to changing consumer lifestyle preferences, expansion of urban population, and the growing number of internet users.  Manufacturers of consumer electronics are thus increasingly producing wireless charging products. For instance, in April 2020, OnePlus announced the Warp Charge 30 wireless charging support in the OnePlus 8 series launch. The company has developed a Warp wireless direct charging architecture that allows real-time communication between the smartphone and the customized chip and wireless charger. Ask PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=640 The wireless charging market in North America is projected to hold the largest market size during the forecast period. The region currently dominates the wireless charging market due to the presence of a large number of market players including Qualcomm, Energizer, Plugless Power, and WiTricty. Increasing advancements in the automotive sector, consumer electronic products, and medical devices has encouraged manufacturers to invest heavily in wireless charging, owing to which the market has gained traction in the region.

  4. Key Market Players The wireless charging players have implemented various types of organic as well as inorganic growth strategies, such as new product launches, contracts, partnerships and, business expansions, to strengthen their offerings in the market. Energizer Holdings, Inc. (US), Ossia Inc. (US), Samsung Group (South Korea), WiTricity Corporation (US), Evatran Group (US), Leggett & Platt (US), Energous Corporation (US), Powermat (Israel), Momentum Wireless Power (US), Powercast Corp. (US), Elix Wireless (Canada), and Zens (Netherlands), are the major players in the wireless charging market. Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=640 COVID-19 impact on the wireless charging market The COVID-19 impact forecast for the wireless charging market in this report is based on the quarterly and annual reports of the companies under study. Primary interviews have confirmed the downward trend in the wireless charging market in 2020. However, the market is expected to rise after the COVID-19 crisis has been neutralized, as governments have imposed strict policies to maintain safe environments in all manufacturing industries. At present, the adoption of wireless charging is high in the consumer electronics, and automotive industries.

  5. Opportunity: Increasing efficiency of wireless charging devices Inductive charging is widely used for wireless charging of consumer electronic devices and electric vehicles. Magnetic resonance allows power transmission at longer distances between receiver and transmitter, and increases efficiency. In wireless charging, efficiency depends upon the power accessible to charge the device with the wireless transmitter's power. It is a vital consideration for wireless power, as it determines how hot the battery has got and how much power is wasted. The higher the efficiency, the lesser the cost and size of the charger required for the same delivered power. Wireless chargers offer benefits in terms of security, cost, and efficiency, and rising customer confidence in such chargers is expected to drive the growth of the market. Challenge: Customer preference for traditional charging technology Wired charging offers faster-charging speed and is less expensive than wireless charging. Wired chargers are usually provided by the manufacturers along with the devices. While it offers mobility and portability, wireless charging requires devices to be Qi-compatible, thus proving unsuitable for many products. With wireless charging pads getting larger, and adapters getting smaller and more durable, customers are showing a greater preference for the traditional charging technology. This is expected to hamper the rapid adoption of wireless charging technology.

  6. About MarketsandMarkets MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of markets.

  7. Contact Us Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 For More Info: https://www.marketsandmarkets.com/PressReleases/wireless-charging.asp

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