Aarkstore Enterprise announced the latest Market Research Report Titled 'Global In-Car Wireless Charging Market Research Report and Forecast 2023'
Global In-Car Wireless Charging Market Research Report and Forecast 2023
In-car wireless charging is based on wireless technology and used for powering up devices such as smartphones, smartwatches, and music players by using charging transmitters and receiver pads. These charging devices are highly adopted in electric vehicles, fuel-based luxury cars, and premium vehicles. Various auto manufacturers such as Mercedes and BMW are integrating retrofit charging devices largely based on Qi standards. The Qi standard is compatible with most of the advanced smartphones with wireless charging capability.
The market for in-car wireless charging is expected to show the highest growth rate in Asia-Pacific due to advancements in automotive technology and the increased adoption of electric vehicles.
The global in-car wireless charging market is expected to grow at 40.8% CAGR during the forecast period 2017–2023.
In 2017, the market was led by North America with 36.19% share, followed by Europe, and Asia-Pacific with shares of 31.2% and 19.4% respectively.
There has been a significant development in electric vehicles in China and Japan with retrofit wireless charging pads for smartphones. At present, the US and Germany are the most advanced countries in the adoption of in-car wireless charging. However, Asia-Pacific is experiencing advancements in this field. Thus, the region has become lucrative for the firms that provide in-car wireless charging equipment and components.
The global in-car wireless charging market has been segmented on the basis of technology, charging standard, device type, vehicle type, distribution, and region. Based on technology, inductive power transfer accounted for the largest market share of 67.0% in 2017, with a market value of USD 1,182.6 million, and is projected to grow at a CAGR of 41.1% during the forecast period. Based on device type, the smartphones segment accounted for the largest market share of 81.7% in 2017, with a market value of USD 1441.8 million, and is projected to grow at the CAGR of 40.8%.
The key players of in-car wireless charging market are Hella KGaA Hueck & Co. (Germany), Samsung Electronics Co., Ltd (South Korea), ZENS (Netherlands), Infineon Technologies AG (Germany), Powermat Technologies Ltd (Israel), Qualcomm Technologies, Inc. (US), Apple Inc. (US), Mojo Mobility, Inc. (US), PowerSquare (India), Aircharge (UK), and WiTricity Corporation (US).
Global In-Car Wireless Charging Market Analysis & Forecast, from 2017 to 2023
• To provide a detailed analysis of the market structure along with a forecast of the various segments and sub-segments of the in-car wireless charging market.
• To provide insights about factors affecting the market growth.
• To analyze the in-car wireless charging market based on Porters five force analysis.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries—North America, Europe, Asia-Pacific, and the rest of the world.
• To provide country-level analysis of the market with respect to the current market size and future perspective.
• To provide country-level analysis of the market for segments on the basis of technology, charging standard, device type, vehicle type, distribution, and region.
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the in-car wireless charging market.
• The global in-car wireless charging market is expected to reach USD 13,748 million by 2023.
• Based on the technology, the segment inductive power transfer is expected to lead the market by generating the highest revenue of USD 1182.6 million in 2017 and is expected to grow with 41.1% CAGR in the forecast period.
• Based on the charging standard, the Qi standard segment led the market by generating the highest revenue of USD 1410.5 million in 2017 and is expected to grow with 41.2% CAGR during the forecast period.
• Based on the device type, the smartphones segment led the market by generating the highest revenue of USD 1441.8 million in 2017 and is expected to grow with 40.8% CAGR in the forecast period.
• Based on the vehicle type, the segment fuel-based led the market by generating the highest revenue of USD 1034.6 million in 2017 and is expected to grow with 41.0% CAGR in the forecast period.
• Based on the distribution, the OEM segment led the market by generating the highest revenue of USD 1217.8 million in 2017 and is expected to grow with 41.4% CAGR in the forecast period.
• Geographically, North America region has been projected to hold the largest market share in the global in-car wireless charging market, followed by Europe.
Regional and Country Analysis of In-Car Wireless Charging Market Estimation and Forecast
Global in-car wireless charging market, by region, is expected to be led by North America with the CAGR of 40.1% during forecast period. Europe has successfully accounted for the second position in the in-car wireless charging market with a CAGR of 40.7%. Asia-Pacific is the fastest growing market with 42.0% CAGR. However, the rest of the world is growing with a slow CAGR of 41.0% during the forecast period.
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