We all hate the cords and the problems they bring. They cluster everywhere. Seeing that opportunity, portable electronics markets have since gone to work to make most of our devices to be charged wirelessly. IHS iSuppli estimates that the market will grow 616% this year.
The wireless charging market is set to soar this year to $885.8 million, up more than sevenfold from $123.9 million in 2010. The massive upsurge this year of wireless charging will dwarf the market’s 60 percent expansion attained in 2010, the first year of meaningful growth for the space, and also will tower above next year’s sizable 276 percent increase. Growth then will begin to taper off, slowing to a still-robust 48 percent in 2015 when revenue hits $23.7 billion.
According to the report, the market for wireless charging is divided into three segments: product-specific solutions, aftermarket receivers and aftermarket charging pads or stations. The adoption of this technology has not been great because of cost implications associated with the technology.
So there is a bottleneck, though wireless charging is poised for major growth in 2011 and beyond. It will take several years for manufacturers to fully implement the technology in their devices, IHS believes. In particular, manufacturers will need to consider how to integrate wireless charging into the design of printed circuit boards, and significant adoption of wireless charging technology will be needed to drive down costs.