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Wireless Charging Pad Market Report
Wireless Charging Pad Market Trends, Dynamics & Market Insights
Wireless Charging Pad Market, By Type (Electromagnetic Induction, Magnetic Resonance), By Application (Smartphone, Battery), and Region - COVID-19 Impact Analysis and Forecast to 2026. This market research report provides in-depth information on ...
The Wireless Charging Pad Market is estimated to grow from USD xx million in 2020 to USD xx million by 2026 at a healthy CAGR of xx% during the forecast period.
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Wireless charging works by transferring energy from the charging pad to a receiver within the back of the phone via electromagnetic induction. it's the transfer of power from an influence outlet to your de-vice, without the necessity for a connecting cable. It involves an influence transmitting pad and a receiver, sometimes within the type of a case attached to a mobile device or built into the phone itself.
Key players operating in the wireless charging pad market are-
The rising use of the internet creates a charging problem for many smartphones, which can be resolved by using a fast-wireless RF energy base charger. Wireless charging is the key requirement of portable electronics products targeted by IoT such as smartphones, laptops & tablets, digital cameras & camcorders, wearable electronics, and household electronics. Thus, the rise in popularity of the IoT market is likely to provide ample opportunity to the market players. Moreover, the rise in sales of electric vehicles (EVs), constantly evolving portable electronics and wearables market, further augments the market growth.
Based on application, the wireless charging pad market is bifurcated into smartphones and batteries. The smartphone segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. Surging demand for efficient charging systems coupled with increasing sales of smartphones is likely to boost the market growth. For instance, smartphone shipments in India reached 150 million units while 5G smartphone shipments crossed four million units in 2020, which was mainly driven by high consumer demand post-lockdown, further bolsters the segment growth.
By region, the Asia Pacific market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly attributed to the rising adoption of IoT-based devices in smartphones. Moreover, improving standards of living, high internet penetration, robust smartphone sales, and the presence of large product manufacturers in the region, further proliferates the regional market growth.
The COVID-19 outbreak has moderately affected the wireless charging pad industry. The pandemic has turned the lives of people worldwide, with the number of cases increasing rapidly. Consumer electronic and smartphone sales were heavily affected amid the pandemic, which impacted the product demand. Also, the decline in the production of mobile phones and chargers due to supply chain disruption further affected the product demand.
Here is the list of the group of customers that the wireless charging pad market hopes to have the greatest opportunity to convert-
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Samsung Electronics Co. Ltd. (South Korea), Spigen Inc (South Korea), LG (South Korea), ESEEKGO (US), PLESON (Canada), Energizer (US), RAVPower (China), Nillkin Magic Disk (China), Belkin (US), and Incipio (US) are among the key players in the wireless charging pad market.
The rise in popularity of the IoT market, rising use of the internet, rise in sales of electric vehicles (EVs) are the factors driving the growth of wireless charging pad market.
The smartphone segment is expected to register the healthy CAGR in the wireless charging pad market in the coming years.
Asia-pacific is expected to grow at a substantial CAGR in the wireless charging pad market during the next five years.
Wireless charging pad vendors, Wireless charging pad retailers, Consumer electronic companies, Smartphone companies, Electric vehicle companies are the target audience in the wireless charging pad market.
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