Sellbyville, DE -- (SBWIRE) -- 03/27/2019 -- Asia Pacific holds a high industry share in the Wireless Charging ICs Market among other regions. The growing demand for consumer electronic devices, such as smartphones and smart wearables in the region, is expected to drive the wireless charging ICs market growth. Manufacturers of these components are targeting their products for the consumer electronics market, encouraging developers of smart devices to integrate these components into their devices.

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The rise in the demand for these components in smart devices, such as smartphones and smartwatches, is contributing substantially to the growth of wireless charging ICs market. Smart devices are integrated with these chips to provide desirable shapes and additional features & functions, which will improve the performance of the products such as sensors. Several smartphone manufacturers, such as iPhone and Samsung, are providing this function in their offerings.

Apple's iPhone 8, iPhone X, Sony Xperia XZ3, and LG are some of the mobile phones integrated with these chips. Similarly, Samsung's S7, S7 edge, S6, Note 5, and Note 7 are some of the devices, which are offering this feature to the customers. This is eventually growing the demand for these chips in the wireless charging ICs market.

The growing demand for electric vehicles in the automobile industry is expected to drive the wireless charging ICs market growth. The integration of these components into electric vehicles will provide advanced charging features, which will drive the wireless charging ICs market growth. Manufacturers of these components will then target their offerings to the automobile industry. With the growing adoption of these vehicles in the future due to several air pollution initiatives by governments, component manufacturers will experience a high demand in the industry creating new opportunities for the wireless charging ICs market.

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Receiver ICs are expected to witness a high growth in the wireless charging ICs market. Several advantages offered by the integration of these components include high efficiency, flexibility, and compact design, which will enhance the physical size and the battery life of the devices. These components are integrated into several devices such as tablets, smartphones, smart watches, and several other related accessories. Several component manufacturers are developing new technologies to cater to the demand and specifications of the customer.

The healthcare sector is expected to witness a high industry growth over the forecast timespan in the wireless charging ICs market. The growing demand for wearable devices in the sector is increasing rapidly. The integration of the technology with these devices is providing the customers to use these products even when it is in the charging condition. Fitness bands, which are used by sportspersons do not need the charging chords and wire. Several medical devices, which are integrated with this feature are neuro simulators and pacemakers. The applications of these components in the medical sector will enhance the operability and performance of these medical devices, thereby driving the growth of the wireless charging ICs market.

Key players operating in the wireless charging ICs market are Qualcomm, Inc., NXP Semiconductors Texas Instruments, Inc., Broadcom Corp., MediaTek, Inc., Toshiba Corp., ROHM Semiconductor, On Semiconductor, Integrated Device Technology, Inc., WÜRTHELEKTRONIK GMBH & CO. KG, ROHM Semiconductor, Vishay Intertechnology, Inc., TDK Corporation, Elytone Electronic Co., Ltd., Linear Technology, among others.

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