Growing demand of the technology across the automotive sector owing to rising pollution concerns as well as depleting fossil fuels is expected to drive the wireless charging market over the forecast timeline. Manufacturers have recognized that consumers are increasing their spending capacity and are ready to invest in premium products.
Consumer applications accounted for more than 55% of the overall wireless charging market share in 2016. With the rising application of wireless charging in several commercial spaces, the industry is witnessing an enhanced demand for the technology from consumers. Major smartphone manufacturers such as Apple and Samsung are gearing to incorporate the technology into their flagship products. Widespread adoption of the technology will further drive the development of infrastructure thereby propelling the market.