2012-11-28 14:18:33 - Wireless charging market led by Powermat and Duracell
The global wireless charging market has been forecast to increase at a compound annual growth rate (CAGR) of 55.5% through to 2015, with the industry set to hit a total market value of $7.161 billion by 2017.Key factors contributing to growth within the market include the ability of wireless chargers to allow for the charging of multiple devices at the same time, along with the increase in demand from various OEMs for the purpose of product differentiation.Numerous retail stores and social gathering outlets such as restaurants and cafes have been providing their customers the ability to charge their mobile phones at charging points. These points have chargers for almost all brands of mobile phones connected through which a customer is
able to plug his/her phone for charging. With the aid of wireless charging, a single charging pad can be used for charging any brand of mobile phone. Wireless charging has its applications across the industrial as well as the consumer electronics sector. Most of all these applications are in the growth phase and have huge potential in the near future. The applications are measured on the basis of their adoption potential versus their market potential and significance.The consumer electronics market is the most attractive market to target, with very high market potential. The awareness among the consumers is now increasing with the advent of new products such as wireless charging pads, receivers, and smartphones with embedded receivers. Products such as smartphones, digital cameras, MP3 players, and others can be wirelessly charged by simply keeping them on the charging pad with a receiver.One further driver of the explosive growth in the wireless charging market will be the very prominent market for wireless charging of electric vehicles. Wireless charging is expected to emerge as a key enabler for the success of electric vehicle technology as it augments plug-in wireless charging and helps accelerate the establishment of charging infrastructure for electric vehicles.With the number of electric vehicles to market forecast to increase more than 500% by 2016, the implications of electric vehicles for the major electric power players and utility companies are enormous. Utilities are seeking out smart grid technology solutions to ensure grid reliability and generation capacity by activating a digital dialogue between the grid and electric vehicles.There are around half a dozen serious players in the wireless charging business, and one of the key players is Powermat, which makes both wireless charging mats and receivers, and arguably has the most visibility in the industry. Another player is Duracell, which has a similar solution called myGrid. Both companies have signed letters of intent to work with Qualcomm on developing an industry alliance to work on wireless charging solutions.Despite the promising future, there are barriers to adoption, which include the time it will take for manufacturers to fully implement the technology in their devices. Manufacturers will need to consider how to integrate wireless charging into the design of printed circuit boards, and large-scale adoption will be needed to drive down costs. Additionally, there are competing visions for how the market should unfold.For more information on the wireless charging market, see the latest research: Wireless Charging MarketFollow us on Twitter @CandMResearch
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