ID: MRFR/SEM/4291-CR | July 2018 | Region: Global | 124 pages
In-car wireless charging is touted as a fast-emerging technology for modern cars. The demand for and popularity of in-car wireless charging is likely to swell further in the years to come. In 2017, the global market for in-car wireless charging stood at over USD 1,700 Mn and is expected to reach USD 13,748 Mn by 2023-end, exhibiting a strong double-digit CAGR. Advances in the wireless technology have reflected favorably on the market, increased efficiency of such wireless charging devices has boosted their adoption in both premium and mid-range vehicles. Emerging markets such as China, Mexico and India present significant growth opportunities for market players considering the rising sales of passenger cars in these countries. Nonetheless, the technology is on its way to becoming a must-have in-car item from a high-end luxury feature.
This MRFR market perspective looks at in-car wireless charging, which is quickly gaining momentum in the automotive sector. The report covers all the key parameters that are relevant to the global in-car wireless charging market. It also discusses the micro and macro-economic factors likely to govern the growth of the market during the projection period. The scope of the discussion also covers wireless technologies such as inductive power transfer, conductive charging, and magnetic resonance charging. The users of this report will come across market information on prominent charging standards such as Qi standard and PMA standard. Other highlights inclues market sizing based on devices types where smartphones remain foremost. The discussion also cover vehicle types (fuel based, electric vehicle and hybrid vehicles) and distribution channel (OEM and aftermarket). This report also offers a cross-sectional analysis of the market based on geographies - North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America.
Historical market trends, market dynamics, forecast, market value by region as well as by segmentation, country-level analysis for each market segment, key player’s market share analysis and market factor analysis which covers supply chain and Porter’s five forces analysis of the market.
Hella KGaA Hueck & Co (Germany), Samsung Electronics Co., Ltd (South Korea), Zens (The Netherlands), Infineon Technologies AG (Germany), Powermat Technologies Ltd (Israel), Qualcomm Technologies, Inc. (U.S.), Apple Inc. (U.S.), Mojo Mobility, Inc. (U.S.), Power square (India), and Aircharge(U.K).
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For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for In-car wireless charging
In- car Wireless Charging Market by Technology:
In-car Wireless Charging Market by Charging Standard:
In-car Wireless Charging Market by Device type:
In-car Wireless Charging Market by Vehicle type:
In-car Wireless Charging Market by Distribution:
|Market Size||USD 13,748 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Technologym, Charging Standard, Device Type, Vehicle Type, Distribution|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Hella KGaA Hueck & Co (Germany), Samsung Electronics Co., Ltd (South Korea), Zens (The Netherlands), Infineon Technologies AG (Germany), Powermat Technologies Ltd (Israel), Qualcomm Technologies, Inc. (U.S.), Apple Inc. (U.S.), Mojo Mobility, Inc. (U.S.), Power square (India), and Aircharge(U.K)|
|Key Market Opportunities||The rising sales of passenger cars in China, Mexico and India.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global in-car wireless charging market is expected to rise to a valuation of USD 13.7 billion by 2023.
The global in-car wireless charging market is exhibiting a 40.8% CAGR over the forecast period from 2018 to 2023.
Growing opportunities in emerging regions such as Asia Pacific are a major driver for the global in-car wireless charging market.
North America is the leading regional in-car wireless charging market.
Samsung Electronics Co. Ltd., Zens, Apple Inc., Infineon Technologies AG, Qualcomm Technologies Inc., Powermat Technologies Ltd., and Aircharge are among the leading players in the global in-car wireless charging market.
The global in-car wireless charging market is expected to achieve an astonishingly positive CAGR of 40.8% during the forecast period of 2018 to 2023. The market size in 2017 was USD 1.76 billion and is expected to grow exponentially, reaching an estimated evaluation of USD 13.74 billion by the end of 2023. The rapid emergence of wireless infrastructure and the increasing demand for wireless technology across the board is expected to drive growth for the global in-car wireless charging market.
With the global prominence of 3G & and 4G technology and the advent of 5G wireless infrastructure to support mobile communication has become more crucial than ever. Wireless communication technology is highly demanded by consumers who have grown reliant on mobile data and high-speed connections, however, intensive use of 3G & 4G networks reduces the battery life of mobile devices. The development of wireless mobile chargers such as wireless charging pads and battery packs, combined with consumers’ reliance on high-speed data to access the internet on the move has given rise to the demand for in-car wireless chargers. The rapid advancement of wireless charging technology has led to the development of wireless chargers which are inbuilt into furniture. Such ongoing innovation is expected to enable great strides for the in-car wireless charging market. Manufacturers of electric vehicles are incorporating wireless charging technology in an effort to boost the demand for the adoption of electric vehicles. Another key factor positively affecting growth for the market is the strong penetration of smartphones that are enabled with wireless charging capabilities. With consumer awareness regarding the development of various wireless chargers, the demand for in-car wireless chargers has grown substantially. Leading market players have invested in the development of such technology in an effort to meet the need. For instance, Audi offers optional universal mobile telephone holders with Qi wireless charging.
Lack of product standardization, however, is expected to challenge market growth due to the ease with which new entrants can release products which may not work well or may be of poor quality, thus fragmenting the market without offering good quality products. This challenge is likely to be mitigated in the coming years as wireless chargers in automobiles become more common. Presently, the market is faced with a wide scope of opportunity as public spaces such as shopping malls and other commercial buildings make allowances for wireless infrastructure support. The market carries huge unrealized potential which has encouraged government authorities to offer subsidies to encourage market growth in the coming years.
The global in-car wireless charging market is segmented into technology, charging standard, device type, vehicle type, distribution, and region. By technology, the market is segmented into inductive power transfer, conductive charging, and magnetic resonance charging. Currently, the inductive power transfer segment accounts for the largest market segment due to the comparatively simple nature of the technology and incorporation of Qi specification; the technology has been adopted to a great extent. However, the magnetic resonance charging segment is expected to grow with the highest CAGR of 42.7% during the forecast period.
By charging standard, the market is segmented into QI standard and PMA Standards. Qi standard is the most significant market segment and is expected to grow with the highest CAGR during the forecast period. This standard has been widely adopted by leading smartphone manufacturers and is a combination of induction and resonance technologies making it widely accepted.
By device type, the market is segmented into smartphones and other devices. Presently, the smartphone segment possesses the largest share of the market due to the widespread incorporation of wireless charging technology in smartphones and the burgeoning demand. However, the demand for wireless charging capabilities for other personal electronic devices such as MP3 players, tablets, and smartwatches is expected to boost the other devices segment and witness the highest CAGR of 41% during the review period.
By vehicle type, the market is segmented into fuel-based, electric vehicle, and hybrid vehicles. Presently, the fuel-based segment is the most significant due to the domination of fuel based vehicles in the automotive sector, however, the fastest growing segment is electric vehicles, which are poised to grow rapidly due to the incorporation of wireless technology and the growing trend of reducing one's carbon footprint which has increased the demand for such vehicles.
By distribution, the market is segmented into OEM and Aftermarket. OEMs are the largest segment and are growing at the fastest CAGR of 41.4% during the forecast period due to OEMs widely incorporating wireless charging solutions to eliminate the need for power cords. Ongoing innovations in wireless charging are expected to boost the segment during the assessment period.
Led by the US, North America possesses the most significant share of the global market. The presence of many automotive giants and the affinity toward adoption of the latest in technology which includes the adoption of cloud and wireless technologies are some important factors driving growth in the region.
The Asia-Pacific however, is set to be the fastest growing region in the global market. The presence of a large population with rising disposable incomes and changing consumption patterns are expected to encourage market growth. Moreover, with a focus on sustainable development in the region, better prospects for in-car wireless chargers are expected and are likely to make a significant impact on the market.
The report includes analysis of the competitive landscape which includes prominent players such as Apple Inc., Power square, Zens, Qualcomm Technologies, Inc., Powermat Technologies Ltd, Infineon Technologies AG, Samsung Electronics Co., Ltd, Hella KGaA, Hueck & Co, Mojo Mobility, Inc., and Aircharge.
Global In-car Wireless Charging Market: Competitive Landscape
The global in-car wireless charging market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, quality, reliability, and aftermarket service. It is crucial for the vendors to provide cost-efficient and high-quality in-car wireless charging Industry, to survive and succeed in an intensely competitive market environment.
The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and improving Industry. Hella KGaA Hueck & Co (Germany), Samsung Electronics Co Ltd (South Korea), Zens (The Netherlands), Infineon Technologies AG (Germany), Powermat Technologies Ltd (Israel), Qualcomm Technologies (U.S.), Apple, Inc (U.S.), Mojo Mobility, Inc (U.S.), PowerSquare (India), Aircharge (U.K), WiTricity Corporation (U.S.) among others are profiled in the study. These companies primarily focus on the development of in-car wireless charging module and accessories. Although the global players are dominating the market, regional and foreign players with small market shares also have a remarkable presence in the market. The international players are expected to strengthen their presence worldwide through partnerships, collaboration, and acquisitions during the forecast period.
Hella KGaA Hueck & Co. is one of the prominent players in the in-car wireless charging market. Hella KGaA Hueck & Co. is an internationally operating German automotive part supplier. The company develops and manufactures lighting and electronic components and systems for the automotive industry, and also has one of the largest trade organizations for automotive parts, accessories, diagnosis and services within Europe. Hella is one of the top 50 global automotive suppliers and is among the 100 largest industrial companies in Germany.
ZENS is a wireless charging company, manufacturer & supplier, and a young innovative company which is established right at heart of Europe’s technology region, Eindhoven. ZENS focuses on the development, production, and marketing of products which helps in making everyday tasks easy for the consumers. ZENS is the first company in Europe to market a series of wireless charging solutions based on the Qi standard. ZENS is also the first company to introduce built-in wireless sub-surface charger with Apple and Samsung Fast Charge
Powermat is considered to be a leading player in the wireless charging and is a provider of the largest wireless charging network globally. Powermat Technologies specializes in wireless power and wireless charging and develops wireless charging solutions for mobile devices. In Jan 2018, Powermat introduced new Charging Spot 4.0 powered by Smart Inductive technology. Also, the company has joined the Wireless Power Consortium to help take inductive wireless charging to the next level.
Apart from these mentioned above, the other companies profiled in the report include Samsung Electronics Co Ltd (South Korea), Infineon Technologies AG (Germany), Qualcomm Technologies (U.S.), Apple, Inc (U.S.), Mojo Mobility, Inc (U.S.), PowerSquare (India), Aircharge (U.K), and WiTricity Corporation (U.S.).