By 2024, Global Sales of Wireless Charging Products will net Revenues worth US$ 27 Billion
As we head towards an era where wires won’t necessarily be a requisite for powering up devices,
tech companies from around the world are intensifying their efforts towards production of advanced
and immaculate wireless charging systems. Innovative technologies supporting the working
mechanism of wireless charging devices is also piquing the curiosity of tech enthusiasts as well as
common consumers. From green vehicles to smartphones, Persistence Market Research has
published its research study on how wireless charging is spanning the globe as the next-gen mode of
charging electric devices.
According to Persistence Market Research, the global market for wireless charging is currently
valued over US$ 2.6 billion. By the end of 2024, revenues emanating from global sales of wireless
charging devices & services will grow at an exponential CAGR of 34% and bring in revenues worth
over US$ 27 billion.
Request Sample: https://www.persistencemarketresearch.com/samples/10789
The report further reveals the significance of components in driving the sales of wireless charging
devices. Considering that wireless charging systems will eventually put an end to wired chargers,
the components used in such systems will play an instrumental role in shaping up the future of
wireless charging. Much like today, the feature of charging multiple devices at same time will
continue to trend in the long run. In the global market for wireless charging, components used as
power transmitters will garner a dominant position. In 2017 and beyond, transmitters are expected
to account for more than three-fourth of global wireless charging revenues. Nevertheless, surplus
power transmission will necessitate the use of advanced receiver components – revenues from
which are projected soar at highest CAGR of 35.2%.
Promising Future for Resonance Charging Technology
A key challenge faced by manufacturers of wireless charging systems hovers around the selection of
suitable charging technology to assure compatibility with all electronic devices in the world.
Availability of diverse electric devices brings uncertainty over expanding product portfolio of
wireless charging systems. Research findings compiled in the report suggest that consumers of
wireless charging devices are growing more inclined towards devices that use resonance charging
technology. After accounting more than US$ 800 million revenues in 2016, the resonance charging
technology will continue dominating the global wireless charging market by procuring nearly 40%
value share through 2024. The global demand for inductive charging technology will incur a major
downtrend, while revenues accounted by radio frequency (RF) charging technology will soar at
nearly 40% CAGR during the projected period.
Download TOC: https://www.persistencemarketresearch.com/toc/10789
Growing Need for Wirelessly Charging Electric Vehicles
While every other wireless charging device sold in the world will be used for powering
smartphones, tablets, laptops and other consumer electronics, the report projects a lucrative growth
for automotive application of wireless charging systems. During the forecast period, revenues
procured from sales of wireless charging devices in the global automotive industry will be elevated
at a staggering 42.1% CAGR. Rampant sales of electric vehicles will be factoring this growth,
making automotive the most favorable application of wireless charging. Additionally, complications
and hazards arising from wired power cables in manufacturing plants will also propel the demand