In-car Wireless Charging Market To Garner Appreciable Returns By 2021-2031

 

In-car Wireless Charging Market: Introduction

  • Staying connected on the go has become vital to the modern-day-lifestyle of consumers globally. This requires smartphones to be charged at all times. In-car wireless charging is an emerging innovation for modern vehicles, which is used to charge smartphone and other electric devices in vehicle. In-car wireless charging technology market employs an inductive coupling and electromagnetic field to transmit energy from a transmitter to a receiver. This technology facilitates long-term reliability, diverse smartphone model compatibility and rapid charging speed. In-car wireless charging system (WCS) involves wireless chargers used to charge electronic devices, for example, cell phones, tablets, and MP3/WAV players in the car. The gadget charges the devices through inductive charging.

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Key Drivers of In-car Wireless Charging Market

  • Consistent use of smartphones and other electronic gadgets has increased battery consumption of such devices, thereby requiring frequent charging. Therefore, availability of in-car charging that can enable vehicle occupants to charge smartphones and other devices can be appealing to numerous consumers. Technological advances in in-car wireless charging module and accessories provided by prominent vehicle producers is anticipated to propel the global in-car wireless charging market.
  • Demand for luxury features in vehicles is expected to compel automakers to install in-car wireless charging system in their vehicles. Such features were available in top-end vehicle models in the last few years. However, rise in competition among automakers, in order to attract more number of consumers, have boosted the adoption of luxury features such as in-car wireless charging system in their vehicles. This, in turn is expected to offer lucrative opportunity for key players engaged in the manufacturing of in-car wireless charging systems during the forecast period.

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Global In-car Wireless Charging Market: COVID 19 Impact

  • Globally, the outbreak of the corona pandemic outbreak significantly impacted the demand for consumer electronics, industrial electronics and automotive electronics in 2020. China is one of the largest suppliers of raw materials as well as the finished products. The industry in China is witnessing a reduction in production in 2020 owing to disruption of supply chain and volatility in prices of raw material. Additionally, the scarcity of raw material owing to stoppage of mining activities across the globe owing to forced shutdown of manufacturing activities is posing as challenge in-car wireless charging market. However, the market is expected to recover from economic losses, as the demand for in-car wireless charging is projected to rise during the forecast period.

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Asia Pacific to Account for Prominent Share of Global In-car Wireless Charging Market

  • In terms of region, the global In-car Wireless Charging Market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.
  • Asia Pacific is expected to hold a major share of the in-car wireless charging market owing to an increase in production and sale of electric passenger cars across China, South Korea, and India. China is one of the largest manufacturer aftermarket products such as in-car wireless charging, which are available at cheaper costs. Population across Asia pacific is changing preferences towards electric cars at a fast pace. Therefore, an increase in sale of electric vehicles is expected to drive the in-car wireless charging market across Asia Pacific.

Key Players Operating in In-car Wireless Charging Market

The global in-car wireless charging market is concentrated owing to the presence of top manufacturers. A few key players operating in the global in-car wireless charging market are:

  • Aircharge
  • Apple Inc.
  • Hella KGaA Hueck & Co
  • Infineon Technologies AG
  • Mojo Mobility, Inc.
  • Power square
  • Powermat Technologies Ltd
  • Qualcomm Technologies, Inc.
  • Samsung Electronics Co.
  • Zens

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