Wireless charging uses an electromagnetic field to transfer energy between two objects. This is usually done with a charging station which acts like a transmitter and transfers energy to the receiver which is embedded in a product like the smartphone. The market has numerous growth opportunities such as having wireless charging embedded in commercial outlets such as cafe’s, cinema halls, airports, and so on. The global wireless charging market is expected to reach $7.161 billion in 2017 at an estimated CAGR of 57.46% from 2012 to 2017. Currently, wireless charging capable smartphones are introduced by Nokia, Google, Samsung and others in some of their models. MarketsandMarkets expects to this to increase in 2013 with most smartphone models featuring wireless charging capabilities.
The main restraint till now was the lack of interoperability standards due to multiple standards promoted by organizations like Wireless Power Consortium (WPC), Alliance for Wireless Power (A4WP) and Power Matters Alliance (PMA). However, though a single standard cannot be expected soon, the current main market like the smartphones will go ahead with the Qi standard from WPC and to an extent the standard from A4WP. The PMA standard is expected to be used in other segments like electric vehicle charging and other industrial applications like RFID tags, smart grids monitoring etc.
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