Wireless Charging Market to See Energized Cash Flow by 2017

MarketsandMarkets is out with a new research report showing that the global wireless charging market is on pace for big revenue gains in the next five years.

According to the findings and projections in “Wireless Charging Market (2012-2017) – Global Forecast and Analysis by Technology, Products & Applications,” this particular market is expected to reach $7.161 billion by 2017 at a CAGR of 57.46% from 2012 to 2017.

“Wireless charging products started being commercially available from 2010 and gained momentum in 2011,” the report reads. “Since this is a new technology, consumers are trying to compare the conventional wired chargers and Universal Serial Bus (USB) cords with wireless charging solutions.”

Wireless charging has its applications across the industrial as well as the consumer electronics sector. Most of all these applications are in the growth phase and have huge potential in the near future. The applications are measured on the basis of their adoption potential versus their market potential and significance.

MarketsandMarkets says that the consumer electronics market is the most attractive market to target, with very high market potential. The awareness among the consumers is now increasing with the advent of new products such as wireless charging pads, receivers, and smartphones with embedded receivers.

“Products such as smartphones, digital cameras, MP3 players, and others can be wirelessly charged by simply keeping them on the charging pad with a receiver,” the report reads.