Electricity (Power) has become a necessity of modern life. Charging a device wirelessly is a new revolution in the electronics era. Different types of technologies are used in wireless charging such as induction and radiation technology. Currently, most of the devices are based on induction technology. Wireless charging technology requires transmitters and receivers, so that power can be transmitted to the respective electronics devices. Many companies are involved in research and development, so as to develop transmitters and receivers which can transfer power over a longer distance.
The wireless charging market has been segmented into four basic segments which include technology, transmission range, application, and geography. The market has been segmented on the basis of transmission range into short range, mid-range, and long range. Currently, most of the wireless charging enabled electronics devices are being developed for short range charging. There are certain companies who have been successful in developing a charger which can charge electronics devices over a distance; however this concept still requires lot of research and development. The wireless charging market in terms of short range was estimated to account for a majority of the market share, in 2013. However, the wireless charging market in terms of long range is expected to grow at a higher CGAR between 2014 and 2020.
The Asia-Pacific market accounted for the highest market share in the wireless charging market, as compared to North America and Europe. This is mainly because of the fact that there is a huge demand for consumer electronics in the Asia-Pacific region, especially smartphones, wearable electronics, and computing devices. North America and Europe also hold a significant market share, but less than Asia-Pacific, of the wireless charging market. The majority of the demand in these regions is mainly from applications such as industries, automotive, healthcare, and defense. This is mainly due to the fact that the development and implementation of wireless charging technology in these applications entails a huge cost. In Europe, the wireless charging market has experienced the highest growth in the automotive sector. This includes the development and implementation of wireless chargers for electric and hybrid vehicles.
The major players involved in the development of wireless charging technology include ConvenientPower HK Ltd. (Hong Kong), Energizer Holding, Inc. (U.S.), Integrated Device Technology Inc. (U.S.), Leggett and Platt Inc. (U.S.), Murata Manufacturing Co. Ltd. (Japan), PowerbyProxi Ltd. (New Zealand), Powermat Technologies Ltd. (Israel), Qualcomm Incorporated (U.S.), Texas Instruments Incorporated (U.S.), and WiTricity Corporation (U.S.). These companies operate globally and utilize wireless charging technology related products and services for various applications.