Wireless Charging ICs Market Size And Forecast
The Wireless Charging ICs Market size was valued at USD 4.31 Billion in 2020 and is projected to reach USD 24.47 Billion by 2028, growing at a CAGR of 24.26% from 2021 to 2028.
Wireless Charging ICs Market Definition
Electromagnetic induction is the process used to provide electricity to a portable device during wireless charging. Wireless charging is currently available on a variety of products, including electric toothbrushes, power tools, smartwatches, smartphones, and tablets. Energy is given through a wireless connection to the charging apparatus, which is situated close to the charging station. In the upcoming years, wireless charging is expected to experience a sharp increase in popularity. Through electromagnetic induction, it powers portable devices. Wireless charging is used by electric toothbrushes, vehicles, power equipment, and medical devices. When placed close to a charging station or Wireless pad, the portable device does not need to be exactly aligned or make electrical contact with a dock or socket.
Since wireless coupling is used, wireless charging derives its name.to move energy around. Alternating current is initially routed through an induction coil in the charging station or pad. The amplitude of the electric current determines the intensity of the magnetic field produced by a moving electric charge. The fluctuating magnetic field creates an alternating electric current in the portable device’s induction coil, which is subsequently rectified into direct current. Low power and high power wireless charging applications are separated into these groups. Low-power applications, which charge at power levels below 100 watts, are frequently supported by small consumer electronic devices including mobile phones, portable gadgets, certain PCs, and similar devices.
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Market segmentation
Global Wireless Charging Integrated Circuit (Ics) Market: Major Players
On Semiconductor
Vishay Intertechnology Inc
Broadcom Corporation
MediaTek Inc
Texas Instruments
Qualcomm
ROHM Semiconductor
NXP Semiconductors
Toshiba Corporation
Linear Technology
Global Wireless Charging Integrated Circuit (Ics) Market: Types
Transmitter ICs
Receiver ICs
Global Wireless Charging Integrated Circuit (Ics) Market: Applications
Smart Phones and Tablets
Wearable Electronic Devices
Medical Devices
Automobile Devices
Others
Wireless Charging ICs Market Overview
Wireless charging provides an advantage over conventional charging by reducing infection risk, increasing durability and protection against electric connection. Moreover, wireless charging also provides greater mobility, a wide range of products that are prominently responsible for driving the global Wireless Charging ICs Market. In the current scenario, worldwide government authorities are allocating funds for installing electric vehicle charging stations also fueling Wireless Charging ICs Market globally. The industry is however facing a major challenge when considering the compatibility of wireless charging with products. Improvement in the efficiency of dynamic wireless charging products and the launch of eco-friendly products will provide huge opportunities in the coming forecast year.
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
