The report" Wireless Charging" Market by Technology (Resonant, Inductive, Radio Frequency, and Others), and Industry Vertical (Automotive, Consumer Electronics, Industrial, Aerospace & Defense, and Healthcare), - Global Forecast to 2030. "The Wireless Charging Market is expected to reach a value up to USD 34.65 bn by 2030 from USD 4.47 bn in 2020, at a CAGR of 22.73% over the forecasted period. Some of the most significant factors that are augmenting the overall growth of the market are the rising prevalence of wireless technologies and a continuous increase in sales of iPhone charging pads, EVs, etc.
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By Technology, the 'Inductive' segment accounted for the largest market share in 2020
Based on Technology, the Wireless Charging industry worldwide has been broadly bifurcated into Resonant, Inductive, Radio Frequency, and Others. The 'Inductive' segment held the largest share of nearly 60.36% in 2020. the main factors that are significantly driving the overall growth of this segment are the rise in usage of wireless charging of electric vehicles and consumer electronic devices, an improvement in Magnetic resonance efficiency worldwide, etc.
By Industry Vertical, the 'Consumer Electronics segment accounted the highest share of the market in 2020
Based on Industry Vertical, the Global Wireless Charging industry has been broadly segregated into Automotive, Consumer Electronics, Industrial, Aerospace & Defense, and Healthcare. 'Consumer Electronics' held the most significant market share in 2020, with a decent CAGR. Consumer electronic products like tablets, laptops, smartphones, MP3s, wearables, gaming consoles, and PDA (Personal Digital Assistance) are in huge demand, especially in the Asia Pacific (APAC) region because of the growing number of internet users, continuously changing consumer lifestyle preferences, and expansion of urban population each year. All of these factors are stimulating the market growth significantly.
Based on Region, North America accounted for the largest market share in 2020 with a robust CAGR of 14.23% during the estimated period. The continuously increasing advancements in the consumer electronic products, automotive sector, and medical devices along with the existence of a large number of market players (Qualcomm, Plugless Power, Energizer, WiTricity, etc.) has encouraged several manufacturers for investing a hefty amount in wireless charging. All these factors are fuelling the overall market growth significantly in this region.
The major vendors in the Global Wireless Charging Market include Samsung Electronics Co. Ltd, Texas Instruments, Powermat Technologies Ltd, Qualcomm Incorporated, WiTricity Corporation, Energizer Holdings Inc, Sony Corporation, Integrated Device Technology Inc, Fulton Innovation LLC, Evatran Group, Murata Manufacturing Co. Ltd, Energizer Holdings, Inc, Leggett & Platt, Momentum Wireless Power, Zens, Powercast Corp, Ossia Inc, and Elix Wireless.
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