Future Electric Mobility Driving Wireless Charging Market

In a battery-driven gadget world that we live in, plugging in electronic devices is creating inconvenience to the consumers. To create a world without wires, wireless charging has become an innovative solution to eradicate the hassle of connecting cables for recharging devices and also to overcome wireless power transfer challenges. Wireless charging offers a supercooling system which decreases the time to charge for an iPhone X and iPhone 8. Nowadays, a wide range of devices uses these chargers as they provide high quality, safe, and reliable solution to wearable’s, smartphones, and laptops. 

Advantages such as no plug compatibility issues and charging multiple devices in parallel are propelling the wireless charging market growth. The information is based on a recent business intelligence report from IndustryARC, titled “Wireless Charging Market: By Standards (WPC, PMA+A4WP, Open Dots); By Type (Resonant, Radio Wave, Micro Wave, Others); By Range (Short, Medium, Long); By Applications (Consumer Electronics, Industrial, Automobile, Healthcare); By Geography - Forecast (2018-2023).”

Browse 74 Market Tables, 178 Figures spread through 230 slides and an in-depth TOC on “Wireless Charging Market (2018 - 2023)”

A non-profit organization was founded in 2015, through a merger between the Alliance for Wireless Power (A4WP) and the Power Matters Alliance (PMA). It continuously deals with the promotion of wireless charging in semiconductors, consumer electronics, automotive, and infrastructure industries as well as enhances awareness among the people worldwide. By using wireless charging, organizations can gain an edge over their competitors and as the awareness increases, the companies operating in the wireless charging market are expected to take a cue from the pioneers. 

For instance, in January 2018, BP Ventures invested $5 million in Free Wire Technologies, which deals with mobile electric vehicle rapid charging systems. Also in 2018, Volvo Cars invested in a Pennsylvania-based wireless charging firm to provide high power wireless charging for electric vehicles. It is more focused on inductive charging technology which improves the charging infrastructure. Similarly, Hyundai and Honda are working with WiTricity to double the charging power of a wireless charging system offered by BMW. According to Federal Ministry for Economic Affairs and Energy, German federal government invested 210 million euros as R&D in 2017 in the field of electric mobility and it is estimated to rise to at least 20% by 2019. All these developments are an indication of the profit potential of the wireless charging market.

Samsung, Apple, and Huawei are some of the major smartphone manufacturers on whom much of the future of the wireless charging market depends. These players provide their products with inbuilt wireless charging capability. Infenion Technologies AG, Integrated Device Technology, Inc, WiTricity Corporation, Texas Instruments, Inc., and Convenient Power Ltd. are some of the other key players in this market. Infineon Technologies AG provides resonant wireless charging in consumer applications as well as inductive wireless charging for in-car charging. WiTricity is affording wireless charging to electric vehicles and also trying to implement this technology for new model cars.

 

Wireless charging transfers wireless power from the transmitter to receiver through electromagnetic fields which avoids the need of a charging station. Increasing efficiency and convenience are attracting the original equipment manufacturers to invest more for electric mobility future in emerging economies, and therefore the wireless charging market is anticipated for healthy growth.

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