The Wireless Charging Market is segmented by Technology (Inductive, Resonant, Radio frequency, and Others), Component (Receivers and Transmitters), and Geography (APAC, Europe, North America, Middle East and Africa, and South America). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 25172.4 million, at a CAGR of 34.28% during the forecast period. There are several companies that are contributing to the market as per this report. Backward integration by OEMs to develop inductive charging systems .
In the dynamic business landscape, the Wireless Charging Market continues to gain traction, driven by advancements in technology and increasing consumer demand for convenience. Companies are investing heavily in research and development to bring innovative wireless charging solutions to market, fostering growth in this sector. The integration of wireless charging technology into various industries, including consumer electronics and automotive, further bolsters its market potential.
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In the dynamic business landscape, the Wireless Charging Market continues to gain traction, driven by advancements in technology and increasing consumer demand for convenience. Companies are investing heavily in research and development to bring innovative wireless charging solutions to market, fostering growth in this sector. The integration of wireless charging technology into various industries, including consumer electronics and automotive, further bolsters its market potential.
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The wireless charging market encompasses various industries, including Infineon Technology and Samsung Electronics in the semiconductor sector. This technology finds applications in Aerospace and defense, Healthcare, Industrial, and Transportation sectors. Cordless chargers using Qi-based charging stations are increasingly popular for charging Electric cars and wearable devices. The convenience factor of wireless charging has led to a surge in demand from EV owners. The wireless charging standard, Qi, is a key player in this market, enabling Simultaneous multi-device charging and High-speed wireless charging. Technologies like Magnetic resonance and Inductive charging are used to facilitate this. The Power Matters Alliance and Qi standard are instrumental in promoting infrastructure development, including Qi-enabled Furniture and long-range wireless charging solutions. The Internet of Things (IoT) is another significant area where Bi-directional wireless charging is gaining traction. This technology allows devices to charge and exchange energy, enhancing their functionality. As the market evolves, we can expect advancements in Wireless charging technology, offering more efficient and convenient charging solutions for various applications.
The Wireless Charging Market, as per Technavio, falls under the broader scope of the global Technology Hardware, Storage, and Peripherals Market within the Information Technology sector. This market encompasses manufacturers of cellular phones, personal computers, servers, and associated components, as well as data storage components, motherboards, and peripherals such as monitors, keyboards, printers, and wireless charging pads. Technavio estimates the market size based on revenue generated from sales of these hardware devices and components. Key growth drivers for the Technology Hardware, Storage, and Peripherals Market include the expanding demand for data centers, fueled by the surge in work-from-home technologies due to the COVID-19 pandemic. - The Wireless Charging Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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