Global In-car Wireless Charging System Market 2017-2021

Overview of the global in-car wireless charging system market

The rise in per capita disposable income is encouraging general population to spend on luxury vehicles. Research analysis on the global in-car wireless charging system market identifies that the rising sales volume of luxury vehicles will be one of the major factors that will have a positive impact on the growth of the market. Also, the unemployment rate in the US has decreased in the past 5 years, which in turn, will improve the economic health. As a result, the penetration of luxury vehicles will also increase. The movement of people from rural to urban and semi-urban areas in various countries such as the US, the UK, Germany, Italy, France, China will further drive the adoption of luxury vehicles. This in turn, will fuel the need for in-car wireless charging system in these vehicles. Technavio's market research analysts predict that by volume, this market will grow at a CAGR of close to 44% by 2021.

The preference for luxury cars is increasing because they offer comfort and safety for the purpose of long distance travelling. Also, it was observed that more than 80% of the in-car WCS market comprised of luxury cars during 2015. As a result, the rising frequency of long distance travelling is identified as one of the key trends that will propel the growth prospects for the global in-car wireless charging system market during the predicted period. It has been observed that about 55% of the long-distance trips are for pleasure. This triggers the demand for luxury cars, which in turn, will create the need for in-car WCS.

Competitive landscape and key vendors

The in-car wireless charging system market is characterized by the presence of many vendors. The majority of these vendors are startups that invented WCS technology and developed their own WCS standards. Later, they entered the in-vehicle wireless charging market to offer wireless charging solutions. Some of these vendors also develop WCS solutions by adopting WCS standards of key vendors. Furthermore, the trend for large volume sales with partnerships from automakers will strengthen the competitive environment of the market.

Key vendors in this market are -

• Wireless Power Consortium (WPC)
• Powermat Technologies
• Qualcomm Technologies

Other prominent vendors in the market include Mojo Mobility, PowerbyProxi, and Put2Go.

Segmentation by end-user and analysis of the in-car wireless charging system market

• Aftermarket
• OEM-fitted

Consumers are looking for OEM-fitted WCS as an add-on package in mid-premium and luxury vehicles. OEM-fitted WCS enable consumers to charge their device wirelessly. For instance, Audi has Qi wireless charging solution built into its phone box system. Any gadget placed on charging pad can be charged wirelessly. OEMs are also providing WCS-enabled phone cases or covers for smartphones that are not yet compatible with wireless car charger. For instance, Audi and BMW have developed their own Qi-compatible cases or covers and have included them in their WCS add-on package. This in turn, will boost growth in the in-vehicle wireless charging market in the OEM-fitted segment in the coming years.

Segmentation by geography and analysis of the in-car wireless charging system market

• Americas
• APAC
• EMEA

North American countries such as the US, Canada, and Mexico contribute majority of shares towards the automotive segment. The automotive sales volume is increasing in South American countries, especially Brazil, Chile, and Argentina. Also, the majority of luxury and mid-premium vehicle sales originate from North America. Furthermore, the automotive production and adoption of automotive production is also increasing. As a result, the in-car WCS market in Americas will continue to grow throughout the estimated period.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global in-car wireless charging system market?
• What are the key market trends impacting the growth of the global in-car wireless charging system market?
• What are the challenges to market growth?
• Who are the key vendors in the global in-car wireless charging system market?
• What are the market opportunities and threats faced by the vendors in the global in-car wireless charging system market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global in-car wireless charging system market?

Technavio also offers customization on reports based on specific client requirement.

According to our market analysts, the rising adoption of wireless chargers across the globe is one of the key factors that will impact the growth of this market over the next few years. To help clients gain market dominance in multiple segments, this market research report on the global in-car wireless charging system market also covers vendors like Powermat, PowerByProxi, and Mojo Mobility.

Furthermore, to present clients with the possibility to explore and expand in niche markets, this report on the in-car wireless charging system market covers geographies like the Americas, Asia-Pacific, and EMEA. Our research practices help clients develop effective growth strategies and keep pace with the continually changing market landscape. This market study offers a comprehensive analysis of various automotive electronics based on the interpretation of the information gathered from specific resources such as channel partners and market stakeholders.

The forthcoming industry research report for the in-car wireless charging system market categorizes the major drivers, rising trends, coupled with the imminent restraints that the automotive electronics sector currently experiences. This report presents insights into the rapidly changing competitive landscape to give a complete outlook of the forthcoming events within the automotive industry. Technavio also presents detailed market assessments into the sectors such as automotive services and automotive components.