Increase in Demand for Hassle Free Charging Solution Coupled with Emergence of Wireless Infrastructure and Growth in Production of Smart Automotives is Set to Drive Global In-Car Wireless Charging Market Over the Forecast Period: Ken Research
In-car wireless charging is a fast-emerging technology for modern cars. In-car wireless charging is based on wireless technology which enables the wireless transfer of electrical charge from a charging device or node to the recipient device such as smart-watches, smart-phones, and music players by using charging transmitters & receiver pads. These charging devices are highly adopted in electric vehicles, fuel-based luxury cars, and premium vehicles.
According to study, “Global In-Car Wireless Charging Market, By Technology (Inductive Power Transfer, Conductive Charging and Magnetic Resonance Charging), By Charging Standard (Qi Standard and PMA Standards), By Device Type(Smartphones and Other Devices), By Vehicle Type (Fuel Based, Electric Vehicle and Hybrid Vehicles), By Distribution (OEM and Aftermarket),By Region: Forecast to 2023” the key companies operating in the global in-car wireless charging market are Hella KGaA Hueck & Co., Put2Go, ZENS, Samsung Electronics Co., Ltd, Toyota Motor Corp., Infineon Technologies AG, Mercedes Benz, General Motors, Qualcomm Technologies, Inc., Powermat Technologies Ltd, The Ford Motor Company, The Hyundai Motor Company, Jaguar, BMW AG, Apple Inc., PowerSquare, Mojo Mobility, Inc., Aircharge, WiTricity Corporation. The key vendors are competing based on cost, reliability, quality, and aftermarket service.
Based on technology, global in-car wireless charging market is segmented into inductive power transfer, magnetic resonance charging and conductive charging. Inductive power transfer is further sub-segmented into low powered inductive power transfer and high powered inductive power transfer. Based on charging standards, market is segmented into PMA (Power Matters Alliance) standard and Qi (open interface) standard. Based on device, market is segmented into smart-phones, MP3/WAV players, tablets and other devices. Based on vehicle type, market is segmented into electric vehicle, fuel based vehicle and hybrid vehicle. Based on distribution channel, market is segmented into retail pharmacy, hospital pharmacy and online pharmacy. In addition, based on end-use application, market is segmented into sports car, mid-segment & basic cars and premium & luxury cars.
The in-car wireless charging market is driven by increase in demand for hassle free charging solution, followed by emergence of wireless infrastructure, quick advancements in automotive technology, growth in production of smart automotives, regular changes in government policies & environmental regulations, strong competition and rise in demand for luxury & semi-luxury high-performance vehicle. However, lack of product standardization and consumer concern regarding infrastructure support may impact the market. Moreover, wireless charging stations in commercial buildings & shopping centers is a key opportunity for market.
Based on geography, the North-America region holds major share in in-car wireless charging market owing to growth in adoption of cloud technology & internet of things (IoT) in the region. Asian-Pacific region is expected to witness considerable growth due to increase in per-capita income and change in lifestyle over the forecast period. European region is also expected to witness higher growth rate because of presence of a prominent premium & luxury car market over the forecast period. In near future, it is estimated that the market will be reached at fast pace on account of increase in technical innovations.
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Ankur Gupta, Head Marketing & Communications