Wireless Charging in Automobiles Prevalent Across All Vehicle Segments: Technavio Report
FREMONT, CA: Technavio, a technology research and global advisory company reveals in its latest report ‘Global Wireless Charging Market 2016-2020’ that the CAGR (Compound Annual Growth Rate) of Wireless charging market is likely to improve more than 33 percent by 2020.
Chargeable devices such as mobile phones and tablets need to be handier and requires frequent charging for optimal performance. The massive growth of wireless charging is segmented into electronics, healthcare, automobile & aerospace, defense and industrial automation by eliminating the need for physically connected electrical cables.
Wireless charging technologies are more applicable to charge the current electronic devices and electrical vehicles to meet the demand for more efficient, standardized, safe and portable power recharging options.
Technavio analysts have estimated that integration of wireless charging pads in automobiles is prevalent across all vehicle segments, which in turn leads to market growth. The global wireless charging market is still into its development stage, which offers high quality and affordable products to customers in order to survive in the global market. The key vendors in this market are: Duracell, Fulton, Qualcomm, and WiTricity.
The analysis also maps the advanced products are still in experimental phase which provides a bright future opportunity for the development of standard Wireless charging technology.