Wireless Charging Market Sales Will Be Worth US$ 27 Billion

(Newswire.net — August 1, 2017) New York City, New York — Foreseeing the current research trend growth in technology, we are heading towards an era of wireless technology where wires will no longer be the intermediate medium to plug in and charge your cell phones. Tech companies from all over the world are emphasizing their efforts towards building advanced mechanism of wireless charging devices. Innovative technologies supportive wireless charge mechanism is also extending booming curiosity towards layman as well as techno leads. Persistence Market Research’s recent published report covers influential market insights on various segments and players involved in Wireless resonant charging.

A sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/10789 

As stated in the report, the global wireless charging market is currently valued over US$ 2.6 billion. Sale’s revenues originating from global Wireless charging devices and services will grow exponentially, at nearly CAGR of 34% and are expected to recoup revenue worth US$ 27billion.

Further revelations explain the components which are driving the sales of wireless charging devices.

Considering that wireless charging will surpass the traditional cable chargers, the components used within the wireless instrument paly an instrumental role in molding the future of wireless charging. Much like today, feature of multi-user wireless chargerers will continue to trend in the long run. Near future wireless charger and used components such as power transmitters will reap a principal position.

In 2017 and beyond, transmitters are expected to garner more than three-fourths of global wireless charging market revenues. However, surplus power transmission will impose the use of advanced receiver components. The projected revenues from wireless charger market exceed CAGR of 35.2%. 

Some of the key challenges faced by manufacturing units of Wireless charging technology are a suitable platform to customize and use this technology on various platforms available in the world.

However, diverse device availability brings uncertainties over expanding the wireless charging system portfolio. Compiled research findings suggest that wireless charging device’s consumers are growing towards the use of resonance charging technology and it is slowly turning towards a trend. Within few periods in 2016,  this technology has bagged US$ 800 million in revenues and it will continue dominating the global wireless charging market by securing nearly 40% value share through 2024. While revenues accounted by radio frequency (RF) charging technology will soar at nearly 40% CAGR during the projected period, the global demand for inductive charging technology will incur a major downtrend. 

The report projects a lucrative growth for automotive application of wireless charging systems, while every other wireless charging device sold in the world will be used for powering smartphones, tablets, laptops and other consumer electronics. Revenues procured from sales of wireless charging devices in the global automotive industry will be elevated at a staggering 42.1% CAGR during the forecast period. Making automotive the most favorable application of wireless charging, Rampant sales of electric vehicles will underfactor this growth with making automotive the most favorable application of wireless charging. Additionally, hazards arising from malfunctioned power cables in manufacturing industry will also drive the Wireless charging demand. More than US$ 5 billion worth wireless charging devices are likely to be productively consumed by various industries throughout the globe. 

Request to view table of content @ http://www.persistencemarketresearch.com/market-research/wireless-charging-market/toc 

Additional Highlights of the Report include:

• Asia-Pacific will be the largest consumer of wireless charging systems in the world
• Sales of wireless charging devices in North America and Europe will procure more than 60% of global revenues throughout the forecast period
• Tech giant, Apple Inc., recently joined the Wireless Power Consortium (WPC) to become a part of the global organization that develops widely-used wireless charging standards for smartphones and other electronic devices
• The report has profiled similar tech companies that are partaking in the growth of the global wireless charging market, which include – Qualcomm Technologies, Inc., Texas Instruments, Inc., Leggett & Platt, Inc., Energized Holdings, Inc., Integrated Device Technology, Inc., WiTricity Corporation, ConvenientPower HK Limited, PowerbyPoxi, and Powermat Technologies Ltd.