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See What Smartphone Usage Has Done To The Wireless Charging Market
The Price of Business Digital Network is a leader in providing thoughtful news and information on the important stories of the day. Here's the latest from a PoB Digital Network Member., 7/11/2019 - FROM USA BUSINESS RADIO

The rising popularity of hybrid cars, smartphones, laptops, smart wearable and other consumer devices are driving the need for wireless charging. The increasing usage of medical devices that require wireless charging has open new vistas for wireless charging manufacturers, and are accelerating the demand for wireless charging market at a global scale. The Wireless Charging Market is expected to rise with a CAGR of 30% during the forecast period 2019-2025 and reach $27bn revenue by 2025.

The wireless charging market is growing at a fast pace owing to wide applications across consumer electronics devices, automotive and the industrial sector. According to GSMA, the total shipment of smartphones is 1.3 billion in 1st quarter of 2019, which is predicted to rise by the introduction of 5G smartphones by 2023. The increasing demand for smartphones with the 5G technology is expected to drive the wireless charging market in the near future. The growing demand for smart home appliances is estimated to reach $110 billion in 2023, which will raise the need for wireless charging. . According to IDC, market share of wearable device accounts for 63.2% in 1st quarter of 2019, which is expected to fuel the need for wireless charging in the coming future.

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Wireless chargers are used across a range of low-power (1kW) appliances. Low-power appliances include small and medium sized consumer electronics, such as smartphones, laptops, and other handheld devices, which usually charge at a power wattage below 100 watts.

On the other hand, high-power appliances include devices whose batteries are to be charged at more than 1kW wattage. The most common high-power application of wireless charging is for automobiles such as electronic cars, trucks and buses....



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