Wireless charging market to touch $7 billion by 2017

Telecom Lead Asia: The global wireless charging market is
expected to touch $7.16 billion in 2017 from $456.86 million in 2011 at an
estimated CAGR of 57.46 percent from 2012 to 2017.

Japan leads in the wireless charging market. The North
American market will take a couple of years to grow due to the slow acceptance
of the concept of wireless charging.

The consumers are yet in the learning curve of the
concept and will take time to accept this new technology, according to MarketsandMarkets.com.

Charging the battery of any electronic device without the
use of cables and cords constitutes wireless charging. The wireless charging
technology is in the developing firmament and the consumers need to be aware of
the benefits of the technology. Wireless charging products started being
commercially available from 2010 and gained momentum in 2011.

Since this is a new technology, consumers are trying to
compare the conventional wired chargers and Universal Serial Bus (USB) cords
with wireless charging solutions.

Since the market is at a nascent stage, there are a
number of opportunities in the market. Wireless charging has its applications
across the industrial as well as the consumer electronics sector. Most of all
these applications are in the growth phase and have huge potential in the near

According to MarketsandMarkets, the consumer electronics
application has the highest potential for mass adoption. The awareness among
the consumers is now increasing with the advent of new products such as
wireless charging pads, receivers, and smartphones with embedded receivers.

Products such as smartphones, digital cameras, MP3
players, and others can be wirelessly charged by simply keeping them on the
charging pad with a receiver.

Charging electric vehicles wirelessly is a very prominent
field as of today and gaining momentum.

The medical and the military applications contribute a
very minor percentage to the wireless charging market as of 2011 and are
expected to increase at a very slow rate. These markets are very small as of
today due to the feasibility and the acceptability of the product. Since the
concept of wireless charging is new, the companies are carrying out R&D and
working towards enabling the users to accept the product.

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