Market Research Future (MRFR), highlights that the “Global In-Car Wireless Charging Market 2020” Expected to Grow Exponentially, Securing a Significant Market Valuation at a Decent CAGR of 40%
In-Car Wireless Charging Market-Overview
As per Market Research Future (MRFR), the global In-Car Wireless Charging Market was valued at USD 37.11 billion in 2018 and is expected to reach USD 13,748.0 Million by 2023 with a CAGR of 40.8%.In 2017, the global market for in-car wireless charging stood at over USD 1,700 Million.
The development in car features is estimated spur the in-car wireless charging market 2020. The consumer electronic devices reports are made by market Research Future, which includes market options for progress.
The mounting need for hassle-free charging and advance of wireless infrastructures is estimated to guide the in-car wireless charging market share. The upgradation in innovation strategy and product performance is estimated to bolster further the -car wireless charging market.
The market contenders are estimated to support the growth enabling factors and thus are estimated to pull the market out of the depression due to the ongoing global pandemic. The necessity to establish a unique advantage in the market is reviewed to have a substantial influence on the global market. The market is predicted to guide its future growth with the inclusion of a balance of innovation and continual product enhancement. Besides, the need to ensure that the long-term sustainable growth goals are not comprised due to the existing difficulties is foreseen to be extremely important for the market stakeholders.
The distinguished market competitors in the in-car wireless charging market comprise of Hella KGaA Hueck & Co (Germany), Qualcomm Technologies, Inc. (U.S.), Samsung Electronics Co., Ltd (South Korea), Infineon Technologies AG (Germany), Powermat Technologies Ltd (Israel), Mojo Mobility, Inc. (U.S.), Power square (India), Zens (The Netherlands), Apple Inc. (U.S.), and Aircharge(U.K).
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The segmental investigation of the in-car wireless charging market is segmented into technology, device type, charging standards, distribution, vehicle type, and region. Based on the device type, the market for in-car wireless charging is segmented into smartphones and other devices. Based on the vehicle type, the market for in-car wireless charging encompasses fuel-based, electric vehicle, and hybrid vehicles. On the basis of distribution, the market for in-car wireless charging consists of aftermarket and OEM. Based on the technology, the market for in-car wireless charging is segmented into conductive charging, inductive power transfer, and magnetic resonance charging. By charging standard, the market for in-car wireless charging is segmented into QI standard and PMA standards. Based on the regions, the market for in-car wireless charging is segmented into Europe, North America, Asia Pacific and other prominent regional markets.
Detailed Regional Analysis
The regional insight into the in-car wireless charging market is segmented into Europe, North America, Asia Pacific and other prominent regional markets. The In-car wireless charging market in the North American region is at the top followed by European and the Asia Pacific region. The European regional market is accountable for a lead share due to the commonness of a noticeable premium car market in the region. The significant progress in the in-car wireless charging market in the North American region is attributed to technological improvements and intensifying application of internet of things and cloud technology in the region. The U.S. is the primary in-car wireless charging market in the North American region and has created incomes worth USD 342.9 million in 2017.
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