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Global Wireless Charging Market Size to grow by US$ 17.4 Bn in 2030.

The wireless charging market was valued at US$ 4.5 Bn in 2021 and is projected to reach US$ 17.4 Bn by 2030.


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Many countries throughout the world are launching smart city initiatives and adopting smart city technologies to manage resources due to rising population and urbanization. Sensors, smart lights, and smart meters, among other connected devices, aid in increasing the functionalities and efficiency of infrastructure and related resonant. The growing number of smart homes and buildings, smart infrastructures, smart healthcare, and Industry 4.0 projects is likely to result in significant business transformations, propelling market growth.


The rise of the worldwide wireless charging market has been fueled by an increase in technology investments in developing nations, as well as the emergence of big data analytics. Furthermore, the IIoT market is predicted to grow due to increased demand from the healthcare industry and the launch of industry-specific platforms in the developed world.


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Due to factors such as rising Wi-Fi penetration, technological advancements in wireless network technologies, and increased acceptance of cloud platform, the wireless charging market size continues to grow. Furthermore, as the development of smart transportation and smart cities progresses, IoT adoption increases. This, in turn, pulls the wireless charging industry forward. The market is expected to grow due to the growing requirement to improve operational competence and excellent collaboration among major market participants to achieve the same. Furthermore, the tactics being developed to create a united digital-human workforce are projected to provide significant prospects for growth.


The adoption of remote working practices in the aftermath of the COVID-19 pandemic has sparked a desire for operational openness. At this point, smart linked solutions are expected to play a critical role in acquiring organizational operational visibility. Businesses are looking forward to establishing resilience to ensure growth in the post-COVID age, as well as adjusting to remote working and automating their processes accordingly. As a result, they're concentrating on IIoT adoption in order to entice customers, improve customer experience, and raise brand awareness. All of these activities promise well for the industrial IoT market's growth in the next years.


The resonant segment accounted largest market share in 2020 due to the enablement to power numerous devices from a single charger. The most adaptable wireless charging technology, and used to charge electric cars, laptops, desktops, and vacuum cleaners. The consumer electronics segment accounted largest market share in 2020 due to the increasing penetration of smartphones among millennials and thus increasing usage of high speed internet.


North America is expected to dominate the market share of global wireless charging market owing to the early adopter of IoT and has evolved into an innovation hotspot. continued contribution of IT behemoths to technical developments has caused a stir in the region's competitive market. Due to their great purchasing power, the population in this region is more receptive to technology advancements.


REGIONAL INSIGHTS


The global wireless charging market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America is expected to dominate the market share of global wireless charging market owing to the wireless charging solutions for industrial applications are becoming more popular, which is propelling the industry forward. Increased use of smartphones and other portable devices will most certainly have a negative influence on market growth in North America. Market growth will be fueled by the rapidly expanding popularity of internet of things-based applications in North American countries. The wireless charging industry in North America is growing due to increased customer knowledge of wireless power technologies. However, Asia Pacific is anticipated to emerge as the fastest-growing region over the forecast period. Rising population in nations such as China, India, Indonesia, Japan, the Philippines, and Vietnam, as well as rising demand for improved yields. Significant investments in wireless charging are being made in the aforementioned nations.


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