Dublin, Nov. 10, 2020 (GLOBE NEWSWIRE) -- The "Smart Power Market - Growth, Trends, Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global smart power market (henceforth, referred to as the market studied) was valued at USD 7.67 billion in 2019, and it is projected to be worth USD 22.5 billion by 2025, registering a CAGR of 16.28% during 2020-2025.
Wireless charging is an advanced technology of transmitting power through an air gap to electrical devices for energy replenishment. In the current market scenario, the recent progress in wireless charging techniques and commercial products' development has provided a promising alternative way to address the energy bottleneck of traditionally portable battery-powered devices.
The incorporation of different wireless charging solutions into the existing wireless communication systems also presents a series of challenging issues with regard to scheduling, implementation, and power management, which act as major market restraints. Moreover, the market studied is gaining significant traction as this technology attracts a wide range of applications, from low-power toothbrushes to smartphones, because of its convenience and better user experience.
In the recent past, wireless charging rapidly evolved from theories toward standard features on commercial products, especially mobile phones and portable smart home devices. In 2012, the Nokia 920 became the first smartphone with built-in Qi wireless charging capability; instead of using a wired battery charger, consumers could rest the smartphone on a wireless charging pad.
Companies that currently offer wireless charging in smartphones (without an aftermarket product) include Apple, Samsung, Sony, LG, Nokia, Huawei, Microsoft, Google, and Blackberry. Wireless charging is also making inroads in laptops, although the adoption lags smartphones. The first wireless charging compatible laptop was Dell's Latitude 7285, which was introduced in the summer of 2017.
Additionally, there are currently 18 car brands that offer wireless charging in cars, either as a standard option or an add-on solution.
With the surging market penetration of wireless charging technologies, microwave beamforming has been adopted as a means to remotely power electronic products. The Qi specification, developed and supported by the Wireless Power Consortium (WPC), encompasses a combination of inductive charging and magnetic resonance technologies.
Amidst the outbreak of COVID-19, the market is witnessing halting of production and disruption in the supply chain, leading to weakened growth of industrial output and the decline of wireless charger device manufacturing output across significant manufacturing hubs.
The Smart power market is moderately fragmented with the firm concentration ratio increasing. Thus, the intensity of competitive rivalry in the market is high. The smart power market comprises various prominent players, such as Belkin International Inc., Nokia Corporation, and Sony Corporation.
Sept 2020- Samsung Electronics Co. Ltd announced to launch the new Samsung Wireless Charger Trio. The new wireless charger is capable of charging three devices simultaneously. It supports the Qi wireless charging standard and that means this charger can be used to charge up any device that supports the standard, not necessarily the latest in mobile technology from Samsung.
Jan 2020- Belkin International Inc partnered with Devialet, which has expertise across acoustic architecture, loudspeakers, and signal processing, over 160 patents, and a premium consumer brand developed Soundform ELITE Hi-Fi Smart Speaker and fast wireless charger. The wireless charging is of 10W for impactful bass levels of the speaker
Key Topics Covered:
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.3 Technology Snapshot
4.4 Impact of COVID-19 on the Wireless Charging Market
4.5 Market Drivers
4.5.1 Constantly Evolving Market for Smartphones, Wearables, and Other Portable Devices
4.6 Market Restraints
4.6.1 Technology is Expensive to Integrate and Comparatively Slower Charging
5 MARKET SEGMENTATION
5.1.1 Wireless Chargers
18.104.22.168 Receivers (Applications Include Smartphones, Wearable Devices, and Computing Devices)
22.214.171.124 Transmitters (Applications Include Standalone, Hospitality, Furniture, Other Public Places, and Restaurants)
5.1.2 Energy Management Systems
126.96.36.199 Hardware (Hub Devices/Gateways, Smart Plugs, and Smart Clamps)
188.8.131.52 Software (Mobile and Dashboard Applications)
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Wireless Charger Vendors
184.108.40.206 Apple Inc.
220.127.116.11 Sony Corporation
18.104.22.168 LG Corporation
22.214.171.124 Huawei Technologies
126.96.36.199 Nokia Corporation
188.8.131.52 Anker Technologies Ltd
184.108.40.206 Belkin International Inc.
220.127.116.11 Logitech International SA
18.104.22.168 Moshi Corp.
22.214.171.124 Mophie (ZAGG Inc.)
6.1.2 Energy Management Systems Vendors
126.96.36.199 BroadLink Technology Co. Ltd
188.8.131.52 Honeywell International Inc.
184.108.40.206 Green Energy Options Ltd
7 WIRELESS CHARGER EMBEDDED FURNITURE TREND ANALYSIS
8 INVESTMENT ANALYSIS
9 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/73g1pj
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