Day: January 11, 2022

Factors such as the adoption of wireless charging technology in medical equipment; rise in need for wireless charging in smartwatches, smartphones, headphones, and other consumer electronic devices; technological advancements; growth in the electric vehicle (EV) industry; developments of wireless EV charging infrastructure, and surge in the efficiency of power transfer are expected to drive the wireless charging market in the foreseeable period (2021–2030).

According to P&S Intelligence, the market generated revenue of around $4.1 billion in 2020, which is expected to witness significant growth in the coming years. Moreover, the technology segment of the wireless charging industry is categorized into inductive, magnetic resonance, and radio frequency. Among these, the inductive category accounted for the largest market share in 2020.

This is because an inductive coupling can conduct 30–60% of the power. Thus, this technology is most widely used by market players in their offerings. It is widely used in low-power devices like smartphones, smartwatches, and fitness bands, and medical appliances. With this technology, the devices can be charged by placing them on a conductive pad, which is directly connected to a wall socket.

This can be ascribed to the existence of several market players, such as Qualcomm Technologies Inc., Plugless Power LLC, Energizer Holdings Inc., and WiTricity Corporation; rapid growth in demand for consumer electronics; developments in wireless charging infrastructure; innovations in medical devices; surge in popularity of wireless EV charging; and high investment in research and development (R&D) of wireless charging technology, in the region.

Thus, the rising demand for wireless charging in consumer electronics and medical devices and the growing EV industry across the globe are expected to propel the market growth during the forecast period.

In the coming years, the industrial sector will deploy a significant volume of backhaul and transport, core network, and radio access network (RAN) hardware components and create an extensive requirement for 5G infrastructure implementation and integration, training and education, consulting, and support and maintenance services due to the surging deployment of M2M technology in manufacturing plants.

Additionally, the rapid advancements being made in IoT technology will also facilitate the adoption of such hardware components in the aerospace, defense, automotive, and healthcare industries. In recent years, 5G infrastructure component manufacturers have engaged in collaborations and product launches to help construct a strong 5G network worldwide.

For example, in February 2020, Mavenir Systems Inc. partnered with Turkcell İletişim Hizmetleri A.Ş. to test and deploy openRAN virtualRAN (vRAN) in Turkey. This new solution is positioned on Turkcell İletişim Hizmetleri A.Ş. Telco Cloud. Other companies involved in such measures include Airspan Networks Inc., SK Telecom Co. Ltd., Hewlett Packard Enterprise Development LP, and Affirmed Networks Inc.

In the preceding years, North America dominated the 5G infrastructure market due to the hefty investments made by the governments of the regional countries in 5G infrastructure development. For instance, the Canadian Wireless Telecommunications Association estimates that $26 billion will be spent on 5G infrastructure development in Canada between 2020 and 2026.

In addition, the rapid adoption of wearable, autonomous driving, AI, and IoT technologies and the presence of umpteen 5G infrastructure component providing organizations, such as Verizon Wireless Services LLC and T-Mobile US Inc., will also strengthen the market in the region in the coming years.

Thus, the growing popularity of IoT and 5G-enabled devices will result in the large-scale deployment of 5G infrastructure in the forthcoming years.