In-car Wireless
Charging Market Size, Market Share, Application Analysis, Regional Outlook,
Growth Trends, Key Players, Competitive Strategies And Forecasts, 2017 To 2025
In-car Wireless
Charging Market (By Sales Channel (OEM-fitted and Aftermarket), By End-use
Application (Passenger Cars (Luxury and Premium Cars, Mid-segment and Basic
Cars, and Sports Cars) and Commercial Vehicles)) - Growth, Share,
Opportunities, Competitive Analysis, and Forecast 2017 - 2025, the global
in-car wireless charging market is expected to witness a strong growth during
the forecast period 2017 - 2025.
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Market Insights
The overall in-car wireless charging system market is strongly driven by the growth in production of smart automotives. Post-recession, the automotive industry worldwide has shown positive signs of recovery. The demand for luxury and semi-luxury high performance vehicles has risen significantly over the last few years. Premium and luxury car segment represents the largest end-use segment in the global in-car wireless charging system market. The segment accounted for over three-fourth of the market revenue in 2016. Rising demand for smart cars is driving the demand for advanced car infotainment systems and telematics , thereby driving demand for wireless charging systems in luxury and premium car segment.
The overall in-car wireless charging system market is strongly driven by the growth in production of smart automotives. Post-recession, the automotive industry worldwide has shown positive signs of recovery. The demand for luxury and semi-luxury high performance vehicles has risen significantly over the last few years. Premium and luxury car segment represents the largest end-use segment in the global in-car wireless charging system market. The segment accounted for over three-fourth of the market revenue in 2016. Rising demand for smart cars is driving the demand for advanced car infotainment systems and telematics , thereby driving demand for wireless charging systems in luxury and premium car segment.
Commercial vehicle
segment including both light commercial vehicles and heavy commercial vehicles
presents a sound growth opportunity for in-care wireless charging device
manufacturers. Increased trade activity and volumes of on-road containerized
freight over a long distance necessitates use of infotainment technologies
including GPS navigation, which consumes battery. The use of in-car wireless
charging systems eliminates the need to carry multiple chargers, thereby
efficiently addressing concerns related to the battery life. However, the
adoption of wireless charging technology in automotives is marred by several
challenges. One of the major challenges is the lack of universal standard and
incompatibility with several existing devices. The existing charging solutions
including cases, stands, and mats either support the Qi or PowerMat standard.
With the introduction of Apple’s latest iPhones that support wireless charging,
automakers may be encouraged to make this a standard across most of their
fleets. Relatively slow charging speed than wired charging is another challenge
inhibiting the market growth.
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Developed economies
including North America and Europe represent the two prominent in-car wireless
charging system market. The regions collectively accounted for over two-third
of the global market revenue in 2016. The dominance of Europe is majorly on
account of huge luxury and premium car market in the region. The presence of
auto makers such as Audi, BMW, and Mercedes Benz that offer wireless charging
systems in their cars has bolstered market growth in Europe. Relatively greater
technology acceptance and adoption in the U.S. has paved the way for the growth
of in-car wireless charging technology in North America. On the other hand,
Asia Pacific is poised to witness comparatively superior growth during the
forecast period 2017 - 2025. Improving standard of living, increase in
discretionary expenditure, and increase in per capita ownership of premium cars
represent economic variables conducive to the future growth of automotive
technologies in Asia Pacific.
On the basis of
sales distribution channel, the global in-car wireless charging system market
is categorized into following categories:
• Original Equipment Market
• Aftermarket
• Original Equipment Market
• Aftermarket
As of 2016, Original
Equipment Manufacturers-fitted segment dominated the global in-car wireless
charging system market, accounting for over 2/3rd of the global market revenue.
Although aftermarket plays a significant role in the replacement demand of
wireless charging systems, it is expected that the sale of infotainment
products such as wireless charging units would improve through Original
Equipment Manufacturers than through aftermarket channel.
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With OEMs
increasingly looking to penetrate mid-size and basic model segments, they are
expected to offer wireless charging systems as a part of add-on package in
these segment cars.
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