Wireless Phone Chargers Market- Revolutionizing The Digital World
As per the MRFR analysis report, the global market for wireless phone chargers is anticipated to acquire a size of over USD 4.31 Billion by the end of 2032. The report further predicts the market to thrive at a healthy CAGR of over 4.50% during the review timeframe from 2023 to 2032.
Wireless charging has been in use over the past decade now. But it was in 2022 till this cord-free capability hit the mainstream when Apple introduced the iPhone X. The concept itself goes back to the mid-1800s when physicist Michael Faraday and inventor Nikola Tesla proved the theory that it is possible to transfer energy through electromagnetic induction. The magnetic resonant coupling, discovered by Nikola Tesla, allows the energy to be transferred through the air using two circuits ̶ a transmitter and a receiver. At present, the technology is accessible to nearly everyone, in the office, at home, and on the go, in daily applications, from laptops and smartphones to kitchen appliances and beyond. Almost all the leading smartphones in the wireless phone chargers market support wireless charging in some capacity. As the world leads toward going wireless, the technology will likely evolve rapidly over the coming years.
How Is Wireless Phone Charging Defined?
Wireless phone charging allows user to charge their smartphone without a plug and cable. The majority of wireless charging devices come as a special surface or pad on which user places phone to get charged. Most of the latest smartphones come with an in-built charging receiver, whereas others require a separate receiver or adapter to be compatible. A smartphone compatible with wireless charging comes with a receiver induction coil made up of copper. The wireless charger comes with a transmitter coil also made of copper. Once the phone is put on the charger, the transmitter coil begins to generate an electromagnetic field, which the receiver transforms into electricity used to charge the phone’s battery. The procedure is called electromagnetic induction. Owing to the small size of the copper coil in transmitter and receiver, the resulting electromagnetic field can only charge the phone placed at a very short distance.
Market Trends
The wireless phone charging technology is taking the market by storm. With a growing number of innovations and RD activities being conducted worldwide, the market has experienced massive growth in the number of product launches. In addition, the incorporation of this technology into several application areas is anticipated to open lucrative opportunities for the key wireless phone chargers market players. For example, True Blue Power, a leading player concentrated on the tailored design and production of innovative power solutions for aviation applications, in March 2022, has announced the addition of FAA-certified wireless chargers to the firm's electrical power solutions portfolio. The TWC15 Series Wireless Chargers are Qi-compatible and offer up to 15 watts of power to personal electronics, wireless earbuds, and smartphones. The latest product line is available in three easy-to-install configurations and is suitable for use in the cockpit and cabin.
Owing to the lucrative nature of the market, it has witnessed a significant surge in the number of new entrants in the last few years. For instance, an online store well-known to provide customers with quality and cost-effective products, New Age Luxe, in March 2022, has announced that it has added a new line of wireless chargers to its platform. The platform is always known to keep up with the latest trends and serve the latest products that customers need at the best price possible. Since its launch, the platform has built a reputation to bet up big brands in terms of product prices. The latest product line of wireless chargers is below USD20, demonstrating New Age Luxe's dedication to keeping prices low.
Conclusion
At present, the wireless charging technology is not perfect, but it is evolving every day to get there. Various companies are struggling to defeat these drawbacks to develop the best possible charging solutions to serve consumers worldwide. With rapid technological evolutions in the field, the global market is set to welcome advanced solutions real soon.
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