Global Short-Range Wireless Power Charging Market: Overview
It is quite convenient and hassle-free to go hands free. Many people do not desire messy cables or wires. The global short-range wireless power charging market primarily comprises products that are utilized for charging wirelessly various electronic devices, such as laptops, tablets, and smartphones. These days, electronic devices have become extremely powerful and are able to perform a wide range of tasks quite easily.
Today, an average smartphone comes with more processing power than the very first satellite that was sent into the space. Nevertheless, the technology of battery has not reached anywhere as close to the demand for battery packs and chargers. Wireless charging offers more convenience to the customers, as they are able to make use of their gadgets sans any worry about the stretch ability of the power cable. As such, the benefits offered by this kind of charging is likely to foster growth of the global short-range wireless power charging market over the timeframe of analysis, from 2023 to 2030.
The global short-range wireless power charging market is likely to be segmented on the basis of two important parameters, which are application and region.
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Global Short-Range Wireless Power Charging Market: Notable Developments
The short-range wireless power charging market is regarded as a competitive market with the presence of several prominent market players. These companies are forging, partnerships, collaborations, and mergers in an effort to gain larger revenue and market share. The following development is expected to play an important role in the market:
- In September 2019, Qualcomm Incorporated successfully acquired Singapore based RF360 Holdings Singapore Pte. Ltd in its joint venture with TDK Corporation. The latter is a manufacturer and developer of equipment of industrial robotic machinery for various mobile devices. Following the acquisition, it is expected that Qualcomm will be able to offer its customers an absolute end-to end solution for a wide variety of issues
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Global Short-Range Wireless Power Charging Market: Key Trends
The global short-range wireless power charging market is characterized by the presence of the following restraints, drivers, and opportunities.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
On the other hand, the growth of the global short-range wireless power charging market is likely to be hampered by the presence of different charging standards taken up by different manufacturers. In addition, wireless charging is usually slower than the traditional chargers, the wired ones.
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Global Short-Range Wireless Power Charging Market: Geographical Analysis
Driven by the US, North America is one of the leading regions in the global short-range wireless power charging market and the region is anticipated to remain dominant throughout the period of analysis, from 2023 to 2030. High disposable income along with the presence of highly advanced automobile and healthcare industries is likely to augur well for the market in the region.