Global Wireless Charging ICs Market: Technological Advancements to Reflect Positively on Market’s Progress

An assessment of the worldwide market for wireless charging ICs on the basis of its geographical spread across North America, the Middle East and Africa, Europe, Asia Pacific, and Latin America has also been provided in this research study. In 2015, Asia Pacific led the global market with a share of more than 31%.

Analysts project this regional market to retain its dominance over the period of the forecast, thanks to the rising demand for these ICs in the consumer electronics sector. The escalating demand for smartphones and tablets in a number of Asian countries, such as India, Japan, and China, is also expected to support the growth of the Asia Pacific market for wireless charging ICs in the years to come.

According to the research report, the global market for wireless charging ICs was worth US$1.43 bn in 2015. Rising at a noticeable CAGR of 24.54% during the period from 2016 to 2024, researchers estimate this market to cross US$10.14 bn mark in terms of value by the end of the forecast period. The demand for receiver ICs is greater than other ICs and is projected to remain enjoying the lead in this market over the years to come.

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North America, which stood second in 2015, is anticipated remain seated in this position throughout the forecast period, owing to the rising usage of wireless charging electronics devices in the public sector. The swelling demand for wireless charging technology across various consumer electronic devices, such as laptops, computers, televisions, gaming devices, tablets, and mobiles are also expected to add to the progress of the North America wireless charging ICs market significantly in the near future, notes the research study.

This 222 page report gives readers a comprehensive overview of the Wireless Charging ICs Market. Browse through Table. Browse through 77 figures and 61 data tables to unlock the hidden opportunities in this market.

“The rising penetration of consumer electronics across the world is having the most prominent impact on the global wireless charging ICs market,” says an analyst. Owing to the increasing demand for wireless charging, these ICs have found a widespread application in electronic devices, such as mobile, tablet, and laptops, which as a result, is reflecting positively on the worldwide market for wireless charging ICs. However, the market may face issues from the manufacturing standardization to some extent during the forecast period.

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Transmitter ICs and receiver ICs are the two main types of wireless charging ICs available in the global market. Receiver ICs enjoy a greater demand from consumers than transmitter ones and is anticipated to remain the most valued product in this market over the coming years. The former accounted for a demand share of more than 63% in 2015. The phenomenal growth of wireless charging is anticipated to fuel the sales of receiver ICs in the near future, thanks to their multiple product charging capabilities.

NXP Semiconductors, Qualcomm Inc., Vishay Intertechnology Inc., Texas Instruments Inc., MediaTek Inc., Broadcom Corp., On Semiconductor, Toshiba Corp., ROHM Semiconductor, and Linear Technology are some of the key vendors of wireless charging ICs across the world.