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The global wireless charging market exhibited strong growth during 2015-2020. Wireless charging refers to the process of electrically charging battery-powered equipment or devices without physically connected cables. It works on the principle of inductive power transfer or magnetic resonance in which an electric current is passed between two objects through the use of coils so as to induce an electromagnetic field. It provides a safe, convenient and reliable way to charge and power numerous electrical devices at homes and workplaces.
The various benefits associated with wireless charging, such as ease of handling and mobility, protection from electric shocks, flexibility, etc., are contributing to the growth of the global wireless charging market. Further, the rising proliferation of the Internet of Things (IoT) is boosting the demand for wireless charging as it is a convenient method to power an IoT network. Moreover, integration of wireless charging solutions in automobiles and the increasing applications of wireless charging in the healthcare segment represent some of the other factors that are driving the market. Looking forward, the publisher expects the global wireless charging market to reach a value of US$ 25 Billion by 2026.