Global Wireless Charger Market Expected to Reach US$ 5.05 Bn by 2027: Industry Probe

August 08, 2019, Domain: Consumer Goods & Retail

According to a new market report published by Industry Probe titled ‘Wireless Charger Market (Product: Charger, Power Bank, Charging Case, and Others (Charging Tray, Car Mount, etc.); End-use: Smartphone and Tablets, Smart Wearable, Laptops and Notebooks, Headsets and Speakers, In-Car Charging, Home Appliances, Others; Distribution Channel: Online (Company Owned Portals, and E-commerce Portals), and Offline (Hypermarkets/ Supermarkets, Specialty Stores, and Brand Stores) – Global Industry Dynamics 2018-19, Trends and Forecast, 2020–2027’,’ the global wireless charger market is expected to reach US$ 5.05 Bn by 2027, and expand at a CAGR of 10.8% from 2019 to 2027.

Overview

  • The global wireless charger products market was valued at US$ 2.02 Bn in 2018, and is expected to expand at a CAGR of 11.5% from 2019 to 2027. Rise in adoption of wireless connectivity technologies, and IoT gaining importance as a technological advancement is expected to boost the global wireless charger market in the near future.

  • North America held a prominent share in the global wireless charger market in 2018 followed by Europe and Asia Pacific

  • Asia Pacific is expected to be a key upcoming market for wireless chargers during the forecast period. Increase in disposable income and improvement in lifestyle patterns are anticipated to be the key factors driving the growth of the wireless charger market in this region.

Driving Factors

  • Growing demand for technologically advanced products is significantly driving the growth of the wireless charger market. Increase in disposable income of individuals and luxury spending is a consequence of economic growth, and these factors are encouraging the market.

  • Technological developments in the wearable devices market and continuous development of portable electronics are some of the other factors expected to drive the demand for wireless chargers

  • Moreover, hassle-free portability of devices and elimination of the need for bulky power and charging equipment are major factors significantly driving the growth of the wireless charger market.

Key Challenges

  • Factors such as slow charging, not truly wireless (small cable still necessary to charge the device), and heating issues might hamper the growth of the wireless charger market

  • The charging transmitter and receiver should be in close proximity, and this might restrain the growth of the wireless charger market.

 

Market Preference

  • In terms of products, chargers are mostly preferred, as these are the simplest and most convenient wireless charging device

  • In terms of end-use, smartphones are expected to hold the dominant market share due to increasing number of smartphone users in the coming years as compared to any other smart connectivity device.

  • Based on distribution channel, the online distribution channel is expected to be the most attractive segment during the forecast period due to the preference of consumers toward online shopping as they can compare multiple devices at a time while making a purchase decision.

  • In terms of region, North America holds a major share of the global wireless charger market, followed by Europe.

Competitive Landscape

  • The wireless charger market is dominated by players who are focused on the development of new products to cater to the rising demand for the product in the market.

  • The report includes the below mentioned pointers of the major players operating in the wireless charger market:

    • Competition Matrix

    • Company Overview

    • Product Profiling

    • Market Share Analysis (2018)

    • Product Innovation

    • Product Comparison Analysis

    • Business Strategies / Recent Developments

      • Technological advancements

      • Key mergers and acquisitions

      • Expansion strategies

    • Company Financials

Major Players Covered under the Scope

  • Powermat Technologies Ltd.

  • Yootech Technology

  • Shenzhen Bonic Electronic Product Co., Ltd

  • iOttie

  • RAVPower

  • Shenzhen Dak Technology Co., Ltd

  • SAMSUNG

  • Anker Innovations Limited

  • Aircharge

  • Belkin International, Inc.

Market Segmentation/Research Scope

Wireless Charger Market – Global Industry Dynamics 2018-2019, Trends and Forecast 2020-2027

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