Technology Wireless Charging Market Outlook | Page 2

Your Catalyst To a Lucrative Business
The technology sector comprises resonant, Radio Frequency (RF), and inductive. Inductive wireless charging
market led the overall technology sector, particularly in the automotive industry, in 2015. However, this
technology is inconvenient for a multi-device ecosystem since it permits just a single device to be charged per
coil. The RF technology sector is expected to exceed USD 3.5 billion by 2024 growing at a CAGR of over 45 %
from 2016 to 2024. This is mainly because it eradicates the necessity for appropriate alignment in case of any
small devices.
Regionally, the United States occupied over 30 % of the total revenue in 2015. High tendency to spend on these
devices because of the high levels of technological awareness and advancements are anticipated to favorably
impact the market growth. In addition to this, significant technological proliferation across various application
sectors is also likely to be a key growth driver. The Asia-Pacific wireless charging market is projected to reach
USD 12 billion by 2024 growing at a healthy CAGR of over 35 % during the estimated years.
The major companies in the global market include WiTricity Corp.; PowerbyProxi Ltd.; Qualcomm Inc.; and
Integrated Device Technology Inc. (IDT). New players generally work together with technology providers and
then launch their products. However, huge set-up costs may pose a challenge to these new companies that
want to establish and develop their market presence.
Browse Related Category Market Reports@ https://www.hexaresearch.com/research-category/next-
generation-technologies-industry
Table of Content of Wireless Charging Market
Follow Us: