Presently, wireless technology providers, such as Integrated Device Technology Inc., Powermat Technologies Ltd., Samsung Electronics Co. Ltd., Convenient Power HK Limited, WiTricity Corporation, TDK Corporation, Texas Instruments Inc., and NXP Semiconductors N.V., are engaging in product launches and collaborations to offer their products to a greater number of customers.
For example, in December 2019, Integrated Device Technology Inc. and Qualcomm Inc. collaborated to use the integrated circuit of the former in consumer electronics based on WiPower technology of the latter. Geographically, the North American region will emerge as the largest user of wireless charging technology in the upcoming years due to the presence of a large number of companies providing this technology, such as Plugless Power LLC, Energizer Holdings Inc., WiTricity Corporation, and Qualcomm Technologies Inc., in the region.
Moreover, the increasing innovations being made by EV and medical device manufacturers in wireless charging systems and booming demand for consumer electronics are promoting the adoption of this technology in the region. Whereas, the APAC wireless charging market is expected to witness the fastest growth throughout the forecast period.
This will be primarily on account of the escalating demand for EVs and consumer electronics, such as personal digital assistants (PDAs), ear pods, smartphones, gaming consoles, smartwatches, and laptops in the region. For example, the Society of Manufacturers of Electric Vehicles (SMEV) states that EV sales in India surged from 129,600 in the financial year (FY) 2018–2019 to 155,400 in the FY 2019–2020.
Therefore, the rising EV sales and improving charging infrastructure will lead to the large-scale deployment of wireless charging technology in the forthcoming years.
