Wireless charging IC market demand rises, innovative applications grab business opportunities
Wireless charging is a technique that transfers energy from a power source without the need for wires or cables. The wireless charging technology consists of two parts: the transmitter and the receiver. The wireless charging IC is the core of wireless charging technology.
Key players in the wireless charging IC market today include IDT, TI, NXP, Freescale, ADI, Qualcomm, Broadcom, ST, On Semiconductor, Semtech, ROHM, Toshiba, Panasonic, Maxim, Generalplus, and others. The wireless charging IC industry is expected to continue to focus on innovation, and strategic acquisitions and alliances are key strategies for manufacturers to enhance their influence. At the same time, there is also an optimized product mix that can further increase added value and maximize profits.
Wireless charging ICs have huge market potential, and several new vendors have entered the global wireless charging IC market in the past decade. It is expected that the entry of new manufacturers will prompt existing manufacturers to counterattack. This phenomenon can lead to better and more innovative strategies to introduce new product lines or expand the ecosystem. Although the current global wireless charging IC market competition is still concentrated, it is expected to gradually differentiate in the next few years.
It is worth mentioning that the Asia-Pacific region is the largest market for the global wireless charging IC market, accounting for more than 70% of the total market in 2017. Due to the convenience of wireless charging, the use of wireless charging ICs has increased, driving the growth of the Asia Pacific market.