Global Wireless Charging Market Registering A CAGR of 41.79% Between 2019 And 2024

FREMONT, Calif. - April 29, 2020 - PRLog -- According to a new market intelligence report by BIS Research titled 'Global wireless charging Market − Analysis and Forecast, 2019-2024 (https://bisresearch.com/industry-report/global-wireless-charging-market.html)', the global wireless charging market was valued at $3.82 billion in 2018 and is projected to reach $33.48billion by 2024, registering a compound annual growth rate (CAGR) of 41.79% between 2019 and 2024.

BIS Research Reports: https://bisresearch.com/industry-report/global-wireless-charging-market.html

Wireless charging takes place when energy is transferred as electromagnetic waves from a transmitter to a receiver. Inductive wireless charging is currently the usual adopted solution for wireless charging and accounted for approximately 100% of the global wireless charging market in 2018. This is largely because of the greater consumer inclination for more efficient and fast charging capability of inductive charging.

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Companies such as Samsung Electronics Co. Ltd., Google LLC, LG Electronics Inc., Microsoft Corporation, Apple Inc., and Motorola Inc., have already incorporated wireless charging in the smartphones. Additionally, the establishment of New Jersey-Based-Wireless Power Consortium (WPC, a multinational technology consortium, estb.2008) has been a landmark development in the wireless charging market, as it has paved the way for the manufacturers to get their products certified, which are then accepted on a global scale.

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