Wireless Charging Market to Growth with Increasing Sales and Production of Electric Vehicles Worldwide

 

Wireless Charging Market

Wireless charging is an optimized inductive charging that allows user to charge electronic devices wirelessly. It uses electromagnetic induction to provide electricity to portable devices. The wireless charging standard is the most common application for electronic devices such as smartphones, tablets, and smartwatches. Wireless charging is also used in electric toothbrushes, vehicles, power tools, and medical devices. The device can be placed on top of the wireless pad or near a charging station and can be charged. This is a more efficient way of charging than charging through a wire. This technology is widely used in the automotive industry, especially to charge electric vehicles.

Thus, growth of the wireless charging market is driven by the increasing sales and production of electric vehicles worldwide. According to the International Energy Agency (IEA's) Global Electric Vehicle Outlook 2021, despite the pandemic, a record 3 million new electric cars were registered in 2020, a 41% increase from the previous year (2019). The demand for electric vehicle is increasing with a rapid pace due to cost-effective and low maintenance features. Over the years, automotive manufacturers have started using wireless charging technology because it is convenient and easy to use. The aforementioned factors are expected to increase the use of wireless charging in the automotive industry.   

Moreover, the growth of the wireless charging market is attributed to the increasing awareness among people about wireless charging and stringent rules and regulations related to harmful emissions, which has also led to increase in adoption of electric vehicles. In an effort to address critical air pollution problems and reduce carbon emissions, India has implemented policies promoting the adoption of electric vehicles (EVs) and the decarburization of the power sector. Moreover, the European Union plans to have at least 30 million zero-emission vehicles on its roads by 2030, as it seeks to steer countries away from fossil fuel-based transport. This in turn is expected to augment the growth of the wireless charging market in Europe and Asia Pacific.

The technology is widely used in low-power applications, such as wearables, ear pods, tablets smartwatches, smartphones, and other handheld devices, which require charging levels below 100 watts. Consumer electronics manufacturers are focusing on strategic alliances to enhance their product features. For instance, the United States-based consumer electronics company acquired a New Zealand-based company to provide wireless charging in its several products such as smartphones, smartwatches, etc. Moreover, some U.S. companies have launched or are launching smartphones that are enabled with Qi wireless charging technology. This in turn is expected to propel the growth of the wireless charging market in North America.


Location: India

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