Increase in sales of electric vehicles (EVs), necessity to harvest ambient RF energy, and constantly evolving portable electronics and wearables market drive the growth of the global wireless charging market. The inductive segment held the largest share in 2018, accounting for more than half of the market. On the other hand, the market across the LAMEA region is anticipated to register the fastest CAGR of 41.5% during the forecast period.

Portland, Feb. 13, 2020 (GLOBE NEWSWIRE) -- According to the report, the global wireless charging market accounted for $5.22 billion in 2017 and is expected to reach $71.21 billion by 2025, registering a CAGR of 38.7% from 2018 to 2025. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.

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Necessity to harvest ambient RF energy and constantly evolving portable electronics and wearables market have boosted the growth of the global wireless charging market. Furthermore, surge in sales of electric vehicles (EVs) propels the market growth. However, technology is expensive to integrate and comparatively slower charging rate hamper the growth. On the contrary, excessive research in far-field wireless charging technologies and trend of Internet of Things (IoT) are expected to create lucrative opportunities in the near future.

The global wireless charging market is segmented on the basis of industry vertical, technology, and region. Based on industry vertical, the market is divided into electronics, automotive, industrial, healthcare, and aerospace & defense. The automotive segment held the largest share in 2018, accounting for more than one-third of the market. However, the aerospace & defense segment is projected to register 40.5% CAGR during the forecast period.

On the basis of technology, the market is segmented into inductive, resonant, radiofrequency, and others. The inductive segment held the largest share in 2018, accounting for more than half of the market. However, the other technologies segment is projected to register the fastest CAGR of 42.1% during the forecast period.

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Based on geography, the wireless charging market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific region held the lion’s share in 2018, accounting for more than one-third of the market. However, the LAMEA region is anticipated to register the fastest CAGR of 41.5% during the forecast period.

The market report provides an in-depth analysis of the major market players such as Fulton Innovation LLC., Samsung Electronics Co., Ltd., Sony Corporation, Qualcomm Incorporated, Murata Manufacturing Co. Ltd., Texas Instruments, Inc., Energizer Holdings, Inc., Integrated Device Technology, Inc., WiTricity Corporation, and Powermat Technologies Ltd. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.

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