Growth Of The Wireless Charging System Market To Witness A Boost On Account Of Rising Electric Vehicle And Smartphone Sales By A Significant CAGR During 2020-2028

Research Nester released a report titled “Wireless Charging System  Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the wireless charging system market in terms of market segmentation by application, by device type, by distribution channel, by industry and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

With rising international pressure upon governments to curb carbon emissions, sales of electric vehicles have been promoted drastically all around the world. Additionally, lower taxes on these vehicles make them an attractive buying option for the population. Owing to these factors, the market size of the wireless charging system market is anticipated to grow at a notable CAGR during the forecast period of 2020-2028. The market is segmented by industry into consumer electronics, defense, automotive, aerospace, healthcare and others. The consumer electronics segment is anticipated to grow at the fastest rate on the back of their rising smartphone sales and newer models being launched frequently.

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On the basis of regional analysis, the Wireless charging system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region out of which, the market in North America is anticipated to hold the largest market share on the back of use of sophisticated technology for business development, rapidly growing consumer electronic space and increasing investment in wireless charging system. Moreover, the market in Asia Pacific is anticipated to record the highest CAGR on the back of rising investment in wireless charging system technology and increasing smartphone sales in the region.

Rising Smartphone Sales to Drive the Market Growth

Rising sales of smartphones along with wireless charging feature in them is anticipated to become the major growth driver responsible for the market growth in the coming years. However, high cost of the technology, intense competition, longer charging times and lack of mobility are expected to operate as key restraints to the growth of the wireless charging system market over the forecast period.

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This report also provides the existing competitive scenario of some of the key players of the global wireless charging system market which includes company profiling of Sony Corporation (TYO:6758), Texas Instruments Inc. (NASDAQ:TXN), Apple Inc. (NASDAQ:AAPL), Samsung Electronics (KRX:005930), LG Electronics Inc. (KRX:066570), Xiaomi (HKG:1810), Huawei, Qualcomm Inc. (NASDAQ:QCOM), Powermat Technologies Ltd. and WiTricity Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global wireless charging system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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