The wireless charging market is projected to see a significant growth in the coming years. This market will be worth more than USD 13.4 billion by 2026, according to the report.
The Wireless Charging Market
The wireless charging market is growing rapidly, as more and more people are beginning to use mobile devices that support this technology. Wireless charging allows users to charge their devices without having to connect them to a power source. Instead, they simply place the device on a charging pad, which wirelessly transmits energy to the device.
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This technology is becoming more popular because it is easier and faster than traditional methods of charging the devices. It is also more environmentally friendly, as there is no need for wires or cords. Additionally, wireless charging systems are often less expensive than traditional charging systems.
The wireless charging market will grow at a CAGR of 24.6% from 2016 to 2021. This growth will be fueled by the increasing popularity of mobile devices that support this technology and the increasing number of businesses that install wireless charging systems.
A Brief History of Wireless Charging
Wireless charging has been around for a while now, but it’s only recently that it’s started to become popular. This is due to the fact that wireless charging is more efficient than traditional charging methods.
Traditional charging methods involve plugging in a cable into an outlet. This is typically slower than wireless charging, and it can be frustrating if you’re trying to charge multiple devices at the same time.
Wireless charging works by sending energy directly to the device you’re trying to charge. This means that you can charge multiple devices at the same time without worrying about cables getting tangled up.
Key Drivers and Inhibitors of the Wireless Charging Market
The key drivers of the wireless charging market are the increasing demand for electric vehicles and the increase in the usage of wireless chargers. This increased demand is due to factors such as decreasing fuel prices, increasing environmental awareness, and growing concern about climate change. Additionally, increased use of wireless chargers can reduce dependence on traditional fuel sources, such as gasoline and diesel.
Inhibitors of the wireless charging market include competitive factors, such as low adoption rates of wireless chargers among consumers and lack of standardization among different types of wireless chargers. Additionally, there are concerns about potential health risks associated with electromagnetic fields. However, these inhibitors are expected to be overcome over the next few years as more companies adopt wireless charging standards and consumers become more comfortable with using wireless chargers.
Key Trends & Opportunities Growing in this Market
The wireless charging market is growing at a rapid pace and will continue to do so in the coming years. Here are some of the key trends that will help fuel this growth.
First and foremost, the wireless charging market is becoming more mainstream. More and more companies are beginning to adopt it as a way to reduce their carbon footprint. This trend is likely to continue, as more and more people become aware of the benefits of wireless charging.
Second, the wireless charging market is expanding into new markets. Wireless charging is now being used in cars, homes, and offices. This expansion is due in part to the growing popularity of electric vehicles. Wireless charging enables people to charge their devices without having to plug them in directly.
Finally, the wireless charging market is growing rapidly due to the increasing popularity of mobile apps. These apps allow users to wirelessly charge their devices without having to open any additional app windows or tabs. This trend is likely to continue, as more people begin using their smart phones more for entertainment purposes than for work or school tasks.
The wireless charging market is poised to experience a growth in next five years, according to a report by MarketsandMarkets™. This uptrend is due in part to the increasing popularity of smart watches and other wearable devices that are compatible with wireless charging technology. In addition, the increase in demand for electric vehicles is also expected to drive the growth of the wireless charging market.
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