The Global Magnetic Wireless Charging Pad Market size is projected to reach USD 1.02 billion by 2028 and is expected to grow at a CAGR of 15.3% during the forecast period. The increasing adoption of wireless charging pads in various devices such as smartphones and tablets has driven the growth. Moreover, with rising concerns about data overloading and security issues associated with wires for transmission purposes, there is an increasing preference towards wireless technology that eliminates any need for a physical connection between devices. Furthermore, this factor will also drive the demand for magnetic chargers which are easy to use and require minimal installation efforts. However, a lack of standardization across different regions can restrain the regional growth rate.
Magnetic Wireless Charging Pads are devices that use electromagnetic fields to create an energy field over which electrical power is sent. This process, known as inductive coupling, avoids the need for cables between a device and its power source; such connections can be impeded by their length or interference from other objects. Wireless chargers typically work with cases on smartphones where not all of the surface area of the phone comes in contact with it while being charged.
On the basis of Types, the market is segmented into 10W, 7.5W, and Others.
On the basis of Application, the market is segmented into Online, Offline. The online store segment accounted for the largest share of 54.0% in 2017 and is expected to grow at a higher CAGR.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia-Pacific (APAC), and the Middle East & Africa (MEA). The North American market is expected to account for the largest revenue share in 2018. The region is anticipated to continue its dominance throughout the forecast period, owing mainly due to the presence of a large number of manufacturers and technological advancements which are driving adoption in this area.
The Asia Pacific market is also anticipated to grow at a significant pace during the forecast period due to the rising number of mobile phone users coupled with an increase in disposable income. Increasing investments by manufacturers and original equipment manufacturers are some other key drivers that support ongoing expansion efforts within this region.
The Middle East & Africa (MEA) region is expected to account for a small revenue share, owing mainly due to lack of awareness and absence of government regulations on wireless charging technology.
The increase in the number of smartphones and other electronic devices is driving the global magnetic wireless charging pad market. Due to this, it is expected that there will be significant growth in demand for these products. The development of new features on smartphones such as mobile payments or improved camera quality has also driven up demand for new phones which lead to an increased need for chargers across all countries globally.
This has resulted in an overall improvement in revenue generated by the vendors operating within the market during recent years. Vendors have been able to capitalize on this due to their focus on developing more technologically advanced models with enhanced functionalities at lower prices than competitors' offerings so as not to lose out in the competitive landscape.
Up Market Research published a new report titled “Magnetic Wireless Charging Pad Market research report which is segmented by Types (10W, 7.5W, Others), By Applications (Online, Offline), By Players/Companies Nillkin, Mipow, Panasonic, Anker, Xiaomi, XVIDA, Samsung, Philips, LUXA2, Huawei, Shenzhen Gobay Electronics, ModTek Solution, PITAKA, Yoobao, Momax”.
Report Attributes | Report Details |
Report Title | Magnetic Wireless Charging Pad Market Research Report |
By Type | 10W, 7.5W, Others |
By Application | Online, Offline |
By Companies | Nillkin, Mipow, Panasonic, Anker, Xiaomi, XVIDA, Samsung, Philips, LUXA2, Huawei, Shenzhen Gobay Electronics, ModTek Solution, PITAKA, Yoobao, Momax |
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 | 219 |
Number of Tables & Figures | 154 |
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 10W, 7.5W, Others and By Application Online, Offline.
Some of the companies that are profiled in this report are:
Magnetic Wireless Charging Pad 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 Magnetic Wireless Charging Pad 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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