The Global Inductive Wireless Charging System Market size is projected to reach USD X.XX billion by 2028, growing at a CAGR of 12.3% between 2017 and 2028. Increasing demand for electric vehicles and declining costs of inductive wireless chargers are the major factors driving the growth of the market in North America, Europe, Asia Pacific, and Middle East & Africa regions. The passenger vehicle segment dominates the market with over 45% share owing to its high penetration rates across developed economies such as the U.S., Canada, Germany, and France among others which have led to higher adoption rate in these countries than other applications such as commercial vehicles or buses which cater primarily to developing countries like India that have not yet adopted this technology due to lack of infrastructure.
An inductive wireless charging system also referred to as an inductive charging station or charger uses a power transfer approach that involves no direct metal-to-metal contact between the transmitting and receiving devices. An inductive wireless charging system transmits energy via electromagnetic fields to the device which is connected with an induction coil. Magnetic Resonance technology uses oscillating electromagnets in both devices for transferring power wirelessly while Electromagnetic Induction technology uses a magnetic field generated by one component and received by another. One of the benefits of an inductive wireless charging system is that it does not have a cable involved. The relative benefit here, however, depends on whether or not you are someone who has to constantly plug and unplug their device for usage or if your phone’s battery life lasts long enough without having to recharge.
On the basis of Type, the global inductive wireless charging system market is segmented into Electromagnetic Induction, Magnetic Resonance Technologies.
An electromagnetic induction type inductive wireless charging system is a low-frequency magnetic field that can be used to charge electrical devices without the need for direct contact between the charger and the device. The features of an Electromagnetic Induction type inductive wireless charging system are that it is able to deliver power via a magnetic field. It works by placing the transmitter coil in one location and then using this coil to generate an electromagnetic field, which can be picked up by the receiver coils located in another area. The device transfers energy wirelessly from the source to whatever battery or other device needs recharging at each time through resonant coupling.
The magnetic resonance technologies inductive wireless charging system is used in the commercial vehicle space. This type of technology does not require a line-of-sight view between transmitter and receiver, thus increasing its safety features as there is no need for the installation of multiple antennas. Magnetic Resonance Technologies type inductive wireless charging system offers high speed of power transfer, which is up to 15kW. It offers enhanced safety as it has no exposed conductors or electrodes eliminating the risk of electric shock because there are no exposed electrical contacts between vehicles and ground-based equipment
On the basis of Application, the global inductive wireless charging system market is segmented into Passenger Vehicles, Commercial Vehicles.
The wireless charging system is used in passenger vehicles for electric vehicle applications. The range of applications includes large battery-size batteries, small-size batteries, and also ultra-small size batteries which are mainly found in high power consumption electric vehicles or hybrid electric vehicles (HEVs). In passenger vehicles, the inductive wireless charging system is applied for electric buses and cars. The vehicle user does not need to remove or position their phone into a standalone charger at regular intervals. Thanks to this technology that delivers charge wirelessly from a base plate which can be mounted on the floor of parking spots in public locations such as airports etc., users just have to park their car over it and get fully charged batteries!
An inductive wireless charging system in commercial vehicles is used to recharge and refuel the electric vehicle without creating any direct connection. It provides a better user experience with ease of use at a low cost. An inductive wireless charging system is also used in commercial vehicles for maintenance and servicing of the vehicle. The technique provides a significant reduction in service time, cost savings, safety benefits, better control over inventory costs & greater flexibility with planning work schedules.
On the basis of Region, the global inductive wireless charging system market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Europe held the largest share in 2017 and will continue to do so throughout the forecast period. This can be attributed to factors such as technological advancements which have led to an increase in demand for electronic devices and a rise in penetration levels across end-use industries within this region. The growth rate exhibited by North America (2018–2028) also shows promising prospects for widespread usage of wireless chargers among consumers owing to a higher adoption rate over other regions. Some key players operating in the value chain include Qualcomm Incorporated, Broadcom Inc., Power By Proxi Ltd., Energous Corporation, WiTricity Corp.
The inductive wireless charging system market in Latin America is expected to grow at a decent CAGR during the forecast period. This growth can be attributed mainly due to the increasing demand for electric vehicles and the high adoption rate of smart home applications such as robot cleaners, washing machines, etc., which will further propel the industry over the projected timeline. The market status of the inductive wireless charging systems in Europe is growing rapidly. The European Commission has made efforts to replace the use of cash with digital forms of payment by 2020, and this will help companies that are operating within the space to receive more funding for research & development projects.
The market for inductive wireless charging systems in the Asia Pacific has been growing at a significant pace and is expected to grow further over the forecast period. This growth can be attributed to the rising demand from passenger vehicles, commercial vehicles, and its components such as chargers, inverters, etc., which are used in various end-user industries. The Middle East & Africa is expected to register the highest CAGR in the global inductive wireless charging system market during the forecast period. The growth in this region can be attributed to the increasing number of electric vehicles being launched in countries such as South Africa, Saudi Arabia, and the UAE.
* The increasing demand for electric vehicles.
* The need to reduce CO₂ emissions.
* The continuous rise in global energy demand.
* The increasing need for fuel-efficient vehicles.
* The growing concern for the safety of electric vehicles.
* The growing focus on the transportation sector.
* The incorporation of wireless charging in the transportation sector.
Up Market Research published a new report titled “Inductive Wireless Charging System Market research report which is segmented by Types (Electromagnetic Induction, Magnetic Resonance), By Applications (Passenger Vehicles, Commercial Vehicles), By Players/Companies Bosch, Qualcomm, Texas Instruments, WiTricity, Fulton Innovation”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Inductive Wireless Charging System Market Research Report |
By Type | Electromagnetic Induction, Magnetic Resonance |
By Application | Passenger Vehicles, Commercial Vehicles |
By Companies | Bosch, Qualcomm, Texas Instruments, WiTricity, Fulton Innovation |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 238 |
Number of Tables & Figures | 167 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Electromagnetic Induction, Magnetic Resonance and By Application Passenger Vehicles, Commercial Vehicles.
Some of the companies that are profiled in this report are:
Inductive Wireless Charging System Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Inductive Wireless Charging System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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