Embedded Wireless Charger Market - Global Outlook and Forecast 2018-2023
The global embedded wireless charger market is expected to generate revenues of approximately $4 billion by 2023, growing at a CAGR of more than 34% during 2017-2023. This market research report also offers market share analysis in terms of unit shipment volume during the forecast period.
The growing integration of advanced features in these systems has led to the development of state-of-the-art infotainment systems and the need for in-car chargers in the global market. The growth in emerging regions, with ongoing industrialization, and global trade activity, especially in the BRICS countries will create lucrative opportunities for leading vendors in the market.The global embedded wireless charger market is driven by the improvement in their living standards and an increase in per capita disposable income. The introduction of modern technologies such as infotainment systems and cockpit electronics. The market research report provides in-depth market analysis and segmental analysis of the global embedded wireless charger market by technology, end-user type, distribution channels, and geography.
The report considers the present scenario of the global embedded wireless charger market and its market dynamics for the period 2018−2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.
Embedded Wireless Charger Market - Dynamics
The leading manufacturers are developing platform-based chargers that support all types of devices is augmenting the global wireless charger market. Qi-based devices are compatible with all the devices that are available in the global market. Qi wireless charging facilities are available such as airports, restaurants, travel, and offices and are gaining immense popularity in the global wireless charger market.KIA Motors, Chevrolet, Jeep, Audi, Mercedes, BMW, Toyota, Hyundai, Lexus, Cadillac, and Jaguar, are some of the top OEMs that are offering in-built cabin chargers. The number of car models with wireless charging facility was only 4 in 2013, but by 2016 it reached 58. The connected vehicle ensures optimizing the operation and maintenance of the vehicle and enhancing the consumer experience. Such developments will augment the growth of the global wireless charger market.Home automation offers integrated, centralized control of individual systems such as small appliances, consumer electronics, environmental control systems, and building components and drives the demand in the global wireless charger market. The growing popularity of wireless modes of communication is contributing to the development of innovative charging devices in the global market. The development of smart homes will make it possible to program a complete and autonomous wireless charger, and they could become an integral part of a smart home in the global market.
Embedded Wireless Charger Market - Segmentation
This market research report includes a detailed segmentation of the market by technology, end-user type, distribution channel, and geography.The global embedded wireless charging market by technology is segmented into inductive and resonant. Resonant technology segment dominated more than 1/3rd of the total market share in 2017, growing at a CAGR of around 36% during the forecast period. The increasing use of resonance technology to charge electronic devices over 3-5meters is driving the growth of this segment in the global market. This technology is perfect for devices that require a large amount of power, such as electric cars, robot, vacuum cleaner or laptops. The inclusion of resonant technology in both Qi and Airfuel Alliance will drive the growth of the global embedded wireless charging market.
The end-user segment in the global embedded wireless charging market is divided into public, corporates, transport, domestic, and other. The domesticsegment will gain around 3% market share by 2023, growing at CAGR of more than 39% during the forecast period. The rising number of smart home and home furniture with embedded chargers is attributing to the growing demand in the global embedded wireless charging market. The wider adoption of consumer IoT ecosystem will transform the global market over the next few years.The distribution channel segment in the global embedded wireless charger market is categorized into aftermarket and OEM. The aftermarket segment occupied more than half of the total market share in 2017. The growing awareness, adoption of smart tech by hotels, restaurant, and café and increasing number of smart phone users are some of the factors attributing to the growth of this channel in the global market. The growing number of DIY products and increasing availability of these chargers online will boost the need for aftermarket services in the market.
Market Segmentation by Technology
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