New York, NY -- (ReleaseWire) -- 03/06/2020 --According to a new market report published by Industry Probe, (www.industryprobe.com) titled 'Wireless Charger Market (Product: Charger, Power Bank, Charging Case, and Others (Charging Tray, Car Mount, etc.); End-use: Smartphone and Tablets, Smart Wearable, Laptops and Notebooks, Headsets and Speakers, In-Car Charging, Home Appliances, Others; Distribution Channel: Online (Company Owned Portals, and E-commerce Portals), and Offline (Hypermarkets/ Supermarkets, Specialty Stores, and Brand Stores) – Global Industry Dynamics 2018-19, Trends and Forecast, 2020–2027',' the global wireless charger market is expected to reach US$ 5.05 Bn by 2027, and expand at a CAGR of 10.8% from 2019 to 2027.
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According to the report, the global wireless charger products market was valued at US$ 2.02 Bn in 2018, and is projected to expand at a CAGR of 11.5% from 2019 to 2027. Increase in adoption of wireless connectivity technologies, and IoT gaining importance as a technological advancement is predicted to fuel the global wireless charger market during the forecast period. From a regional perspective, North America held a prominent share in the global wireless charger market in 2018 followed by Europe and Asia Pacific. Asia Pacific is projected to be a key upcoming market for wireless chargers during the forecast period. Rise in disposable income and improvement in lifestyle patterns are predicted to be the prominent factors driving the growth of the wireless charger market in this region.
Continuous Development Portable Electronics to Drive the Market
Rising demand for technologically advanced products is substantially driving the growth of the wireless charger market. Rise in disposable income of individuals and luxury spending is a consequence of economic growth are further encouraging the market. Technological developments in the wearable devices market and continuous development of portable electronics are some of the other factors predicted to drive the demand for wireless chargers. Moreover, hassle-free portability of devices and elimination of the need for bulky power and charging equipment are major factors significantly driving the growth of the wireless charger market.
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The report has segmented the global wireless charger market on the basis of products, end-use, distribution channel and region. In terms of products, chargers are mostly preferred, as these are the simplest and most convenient wireless charging device. In terms of end-use, smartphones are expected to hold the dominant market share due to increasing number of smartphone users in the coming years as compared to any other smart connectivity device. Based on distribution channel, the online distribution channel is predicted to be the most attractive segment during the forecast period due to the preference of consumers toward online shopping as they can compare multiple devices at a time while making a purchase decision. In terms of region, North America holds a major share of the global wireless charger market, followed by Europe.
The report states that the wireless charger market is dominated by players who are focused on the development of new products to cater to the rising demand for the product in the market.
The report includes the below mentioned pointers of the major players operating in the wireless charger market:
? Competition Matrix
? Company Overview
? Product Profiling
? Market Share Analysis (2018)
? Product Innovation
? Product Comparison Analysis
? Business Strategies / Recent Developments
? Technological advancements
? Key mergers and acquisitions
? Expansion strategies
? Company Financials
Some of key players operating in the global wireless charger market are included in this report to give a better competitive analysis of the market and these include Powermat Technologies Ltd., Shenzhen Dak Technology Co., Ltd, Yootech Technology, SAMSUNG, Shenzhen Bonic Electronic Product Co., Ltd, Anker Innovations Limited, iOttie, Aircharge, RAVPower, and Belkin International, Inc.
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