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Wireless Charging Market is expected to grow beyond USD 20 billion by 2024.
Another growth driving factor for the global market includes the growing demands for smartphones, specifically in India, China, and South Korea.
The global market is segregated as applications, technologies, and regions.The application sector includes defense, consumer, automotive, healthcare, and industrial.
The healthcare sector is projected to be the most lucrative application sector, with a CAGR of over 38 % over the forecast period (from 2016 to 2024).Browse Details of Report @ https://www.hexaresearch.com/research-report/wireless-charging-market The technology sector comprises resonant, Radio Frequency (RF), and inductive.
Inductive wireless charging market led the overall technology sector, particularly in the automotive industry, in 2015.
The RF technology sector is expected to exceed USD 3.5 billion by 2024 growing at a CAGR of over 45 % from 2016 to 2024.
Global Wireless Electric Vehicle Charging Market, by Technology (Magnetic resonance, Inductive charging), by Component (Battery, AC/DC power adapter, Power distribution box), - Forecast 2027Market Synopsis:The wireless electric vehicle charging market is evolving rapidly with the growing sales of Electric Vehicles (EVs).
The market is witnessing significant growth in recent years.
Increasing demand for dynamic electric vehicle charging (DEVC) technology, surging number of long-distance driven by electric vehicles, and growing concern over safety in electric vehicles are some the key driving factors for the growth of this market.According to Market Research Future (MRFR), the size of global wireless electric vehicle charging would increase exponentially by the end of 2027.
Rising prices and scarcity of fossil fuel are presaging that electric vehicles would be best suitable alternative for fossil fuels for the future.
Conversely, the high cost of these chargers and energy loss during transmission are some of the factors impeding the growth of this market.Key Players:Some of the major players in Global Wireless electric vehicle charger Market include ABB (Switzerland), Leviton (U.S.), WiTricity Corporation (U.S), Convenient Power HK Limited (Hong Kong), Siemens (Germany), Delphi Automotive (U.K.), Qualcomm (U.S.), and Bosch Group (Germany) among others.Market Segmentation:The Wireless Electric Vehicle Charger Market report is segmented into eight key market dynamics to widen the scope of understanding,By Charging Type: Dynamic and Stationary Wireless Electric ChargingBy Charging Pad: Base Charging Pad, Power Control Unit, and Vehicle Charging Pad, among others.By Power Supply Range: 3 to <7.7 KW, 7.7 to < 11KW, 11to < 20KW, 20 to < 50 KW, 50 KW, and aboveBy Charging System: Home and Commercial Charging System.By Propulsion Type: Battery and Plug-in Electric Vehicle.By Vehicle Type: Passenger EV and Commercial EV.By Application: OEM and Aftermarket.By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.Regional Insights:The Asia Pacific region dominates the global wireless electric vehicle charging market with the largest share.
Owing to the growing production of electric automobiles from China and Japan, the region is estimated to continue its dominance throughout the review period.