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Wireless Charging Market in industrial application segment is expected to witness opportunities due to the need for the technology in highly automated environments

Author : Ronak Bora | Published Date : 2019-03-28 

Wireless Charging Market will positively impact by huge opportunity for the technology exists in the highly automated & connected industries, as the battery power is a vital factor in several industrial applications. Wireless charging in industrial settings helps reduce the risk of explosions caused by stray sparks which occur during the connection and disconnection of current carrying power cables. In industrial applications of unmanned systems and robotic vehicles which require high voltages of electricity to operate efficiently, the technology is providing a consistent, high efficiency power supply to batteries which is expected to enhance the wireless charging market growth.

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Inductive technology has penetrated significantly into the wireless charging market and contributed to more than 50% of the global revenue in 2016. WPC’s inductive Qi standard powers a range of smartphones, accessories and products. It can be implemented for close range wireless charging and is highly efficient, cost effective to deploy and easy to design. The technology is mature and the most preferred technology for charging as compared to other technologies and can be scaled up to support bigger products and EVs. Inductive charging is projected to exist in environments where safety, efficiency, and high power, are necessary.

Healthcare is a promising application segment for the wireless charging market. The usage of medical implants in advanced medical therapies for a variety of chronic conditions is growing, with the ability to safely charge such devices opens new opportunities to several treatment options thereby driving the wireless charging industry growth. Moreover, wireless charging technology is offering its end-users the ability to extend the lifetime of an implant as the battery can be recharged, and can also eliminate the battery need in some cases. 

The technology has evolved to adapt to consumer range and distance requirements. Inductive charging technology is a highly efficient technology that is commercially available for usage. Qi technology is available at a cost-effective, competitive pricing, and is designed to work efficiently with a range of mobile devices. Moreover, the technology is being used in medical implants for advanced medical therapies for a variety of chronic conditions, owing to its ability to safely charge healthcare devices, and eliminating the battery need in some cases. These factors are positively aiding the wireless charging market.

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A major factor aiding the U.S. wireless charging market growth are the incentives provided by its government for the development and the usage of the wireless charging equipment’s. The U.S federal government is providing tax credits of USD 2,500 to USD 7500 for each EV purchased in the country. Increase in adoption of EVs in the country is anticipated to provide the industry several growth prospects. Moreover, several restaurants and coffee shops in the country are implementing the technology to increase the consumer awareness about the brand and provide a hassle-free user experience.

The adoption of novel technologies by core companies has a crucial role to play in augmenting the growth graph of wireless charging market. In fact, major tech biggies have already incorporated wireless charging in their flagship phones, whilst the smartphone market hulk – Apple, is also soon expected to switch gears and implement this technology. Speaking of which, some of the prominent players in wireless charging industry include Texas Instruments, Inc., Device Technology, Inc., Mojo Mobility, Inc., WiTricity Corporation, Powercast Corporation, Energizer Holdings, Inc., Powermat Technologies Ltd., Qualcomm Inc., Leggett & Platt Inc., Convenient Power Ltd., PowerbyProxi Ltd., and Murata Manufacturing Co. Ltd. This business space is likely to witness several companies competing for standards, licensing agreements, and technological innovations in the forthcoming years, which validates that wireless charging market would indeed garner commendable returns over 2017-2024.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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