Ocean View, DE -- (SBWIRE) -- 04/01/2020 -- Rising popularity and demand for electric vehicles (EV) have driven new growth opportunities in wireless charging market. The technology is used for charging EVs wirelessly, potentially revolutionizing the entire automotive landscape. Currently, companies in the wireless charging business have aligned their focus on developing cutting-edge charging solutions for electric vehicles.

For instance, Qualcomm Technologies, Inc. (QTI) has partnered with FIA Formula E Championship for developing Halo (WEVC) wireless electric vehicle charging technology. With this technology, users can efficiently charge their vehicles by moving over the charging base that is fixed in parking spaces or on roads.

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Company profiled in wireless charging market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Energizer Holdings
2. IDT - Integrated Device Technology, Inc.
3. MediaTek
4. Murata
5. Qualcomm
6. Texas Instruments
7. Samsung Electronics
8. Evatran LLC
9. WiTricity
10. Powermat

The technology's long-term benefits such as reduced maintenance costs and sustainability have also encouraged industry participants to develop new wireless charging solutions for automobiles. Speculating the market's potential in the automobile industry, Global Market Insights, Inc., suggests that the wireless charging market may exceed USD 30 billion by 2026.

With respect to technology, the RF based technology is anticipated to rise since it helps in eradicating the need for proper alignment in small devices like wearables and medical implants. These RF charging technologies could be segregated into near-field as well as far-field wireless charging and are increasing the demand as well.

Citing an example, Humavox recently developed a near-field RF based charging system which allows any 3D volume to be transformed into a charging station, including things like drawers, cup holders etc.

The adoption of wireless charging in the automotive sector could transform the automotive landscape. In fact, several wireless charging market players are already investing towards efforts to foray into this novel industry vertical. For instance, Qualcomm Technologies, Inc. partnered with FIA Formula E Championship for the development of Halo WEVC (Wireless Electric Vehicle Charging) technology. Users could now charge their vehicles with ease by moving over the charging base implanted in parking spaces or on roads.

While the initial cost of installing the technology is relatively high, it more than makes up for it in the long-term with reduced maintenance costs for future as well as the effect on environment by using renewable energy solutions.

According to reports, MEA is expected to offer lucrative growth opportunities for companies operating in the wireless charging market. Airlines and airports in the region are deploying several wireless charging points to provide exceptional on-board facilities to passengers.

Moreover, carriers operating in the GCC region are leveraging wireless charging technology to improve passenger experience on short haul as well as long-haul flights. For instance, Emirates deployed around 30 wireless charging valet trays that use a magnetic field for wireless power transformation.

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Meanwhile, in APAC, industrial wireless charging is expected to record exponential demand from manufacturing hubs in India, China, and South Korea. These countries are adopting wireless charging solutions to decrease the potential risk of explosions caused by stray sparks.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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