The inductive category dominated the market in 2020. This is ascribed to the fact that an inductive coupling has the ability to transmit 30–60% of the power. Moreover, inductive coupling is widely used in handheld devices, such as laptops, smartwatches, ear pods, and tablets. Transmitters and receivers are the two major components of wireless charging systems.
Between these, the demand for receivers was observed to be higher in 2020. This was because of the existence of a larger number of receiver components than transceiver components, owing to the use of wireless charging in consumer electronic devices. In addition, the increasing adoption of wireless charging in several devices, such as drones, smartphones, and smartwatches.
EVs is predicted to push up the demand for receiver components in the coming years. Geographically, North America dominated the wireless charging market in 2020. It is also predicted to generate high revenue in the coming years. This will be because of the existence of numerous wireless charging system developing companies in the region, such as Qualcomm Technologies Inc. and Plugless Power Inc.
Furthermore, the rapid advancements being made in the medical equipment industry, especially in the U.S., are also providing opportunities to manufacturers to make huge investments in wireless charging, which is also propelling the expansion of the wireless charging market in the region.
Hence, it can be said without doubt that the demand for wireless charging will surge in the coming years, primarily because of the growing deployment of EVs and the mushrooming sales of consumer electronic devices, such as smartphones and tablets across the world.