The wireless charging market is expected to increase to $XX billion by 2020 at a CAGR of XX% over the period 2014-2020. The ability to charge multiple devices and consumer inclination towards wireless connectivity are the key drivers which are making the wireless charging market to grow lucratively.
Wireless charging eliminates the need for cords, connectors and electrical plugs and allows any user with a compatible device to use the same wireless charging pad. The growth of the wireless charging market is currently being hindered by the lack of a common standard that guarantees interoperability between devices and charging pads from different vendors. The solutions available in the market are forcing the end user into a closed system based on an individual standard. This closed system limits the user ability to charge their device only with a compatible charging pad. The growing technological propagation and amalgamation of wireless charging products with a vast kind of technologies such as inductive technology and radiation technology are the major factors driving the growth of the wireless charging market.
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