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Market Research Forecasts Wireless Charging Market Growth at 57% CAGR Through 2017(May 02, 2012)
ROCKVILLE, MD -- (Marketwire) -- 05/02/12 -- MarketResearch.com has announced the addition of the new report "Wireless Charging Market (2012-2017) -- Global Forecast and Analysis by Technology (Inductive, Magnetic Resonance, Radio Frequency (RF), Microwave, Optical Beam), Products (Pads and Receivers for Smart Phones), Applications (Smart Phones, Industrial, Medic)," to their collection of Cell Phones market reports. For more information, visit http://www.marketresearch.com/MarketsandMarkets-v3719/Wireless-Charging-Global-Forecast-Technology-6889479/
Charging the battery of any electronic device without the use of cables and cords constitutes wireless charging. The concept of wireless charging was introduced by Nikola Tesla in the year 1899 where he demonstrated transmission of 100 million volts of electricity across 26 miles. This age old technology has come into being for charging consumer electronics, especially for smartphones as of 2011.
Since the market is at a nascent stage, there are a number of opportunities in the market; such as having wireless charging embedded in commercial outlets such as cafés, cinema halls, airports, and so on. Also, embedding receivers in the smartphones eliminates the need of using a sleeve. Charging electric vehicles wirelessly is a very prominent field as of today and gaining momentum. There are several universities, such as Stanford University (U.S.) and Clemson University (U.S.), and companies conducting researches on the same.
The companies, universities, and research institutes are conducting extensive R&D on the same and trying to embed the receiver coils in the phone, which will eliminate the need for the sleeve as well. Standards and interoperability are the major concerns in the market as of today. Since the market is in its infancy; there are no set standards for the same.
The Wireless Power Consortium established a standard for interoperability named the Qi standard, which enables charging pads and devices with Qi certification to charge together. There are other emerging standards as well for charging the devices wirelessly.
The medical and the military applications contribute a very minor percentage to the wireless charging market as of 2011 and are expected to increase at a very slow rate. These markets are very small as of today due to the feasibility and the acceptability of the product. Since the concept of wireless charging is new, the companies are carrying out R&D and working towards enabling the users to accept the product.
The global wireless charging market is expected to reach $7.161 billion in 2017 from $456.86 million in 2011 at an estimated CAGR of 57.46% from 2012 to 2017. Japan ranks first in the wireless charging market. The North American market will take a couple of years to grow due to the slow acceptance of the concept of wireless charging. The consumers are not yet in the learning curve of the concept and will take time to accept this new technology.
For more information, visit http://www.marketresearch.com/MarketsandMarkets-v3719/Wireless-Charging-Global-Forecast-Technology-6889479/
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