The Asia-Pacific Wireless Charging market is growing at a high rate owing to the factors such as surging use of wireless power transfer in electronic devices such as smartphones and wearable electronics, and increasing popularity of IoT. Besides these, rising inclination toward the electric vehicles (EVs) in the countries such as China, India, and Japan has led to the adoption of wireless charging solutions in automobiles. Along with this, burgeoning demand for wireless computing devices and high growth in the consumer electronic industry due to rising disposable income of the people are the factors propelling the growth of the market in the forecast period.
According to MarkNtel Advisors’ research report “Asia-Pacific Wireless Charging Market Analysis, 2020”, the Asia-Pacific Wireless Charging market is anticipated to grow at a CAGR of 40% during 2020-25. Based on Application, Consumer electronics acquired the considerable market share in 2019. The growth of the segment is attributed to rising inclination of the consumers toward constantly evolving portable electronics and wearables devices, surging integration of IoT in electronic products such as digital cameras & camcorders, laptops & tablets, and extensive research activities in far-field wireless charging technologies.
“Asia-Pacific Wireless Charging Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Wireless Charging providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
China Acquired the Largest Market Share
China acquired the largest market share in the Asia-Pacific Wireless Charging market in 2019. This is due to the launch of wireless charging products in the consumer electronics industry and increasing penetration of smartphones which are surging the demand for convenient charging solutions to improve the power consumption, battery duration, and real-time connectivity. Moreover, the rising government initiatives to boost the electric vehicle in order to curb the carbon emission by reducing the dependency on fossil fuel and presence of giant market players is propelling the demand for wireless charging in the Asia-Pacific region as stated in the MarkNtel Advisors’ research report “Asia-Pacific Wireless Charging Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Asia-Pacific Wireless Charging market ConvenientPower HK Limited, Integrated Device Technology (Renesas), Murata Manufacturing Co. Ltd, TDK Corporation, Powermat Technologies Ltd., Texas Instruments Incorporated, Witricity Corporation, Infineon Technologies AG, Qualcomm Incorporated, NXP Semiconductors N.V. etc.
Key questions answered in the study