Significant financial support from governments across the world for R&D in the Internet of Things, emerging needs for cross-domain applications, and proliferation of Wi-Fi as wireless connectivity standard in consumer and enterprise sectors are some major opportunities for the growth of the market.
Increasing technological advancement and growing application of wireless charging ICs in the consumer electronics, medical devices and automobile devices is anticipated to have a positive impact on the Wireless Charging ICs market globally. Increasing usage of wireless charging ICs in wearable product such as smart watch, smart glass, electrical shaver, mobile phones and tablets is having a positive impact on the market. Receiver ICs is using as a receiver of wireless charging power. Usage of medium power solution charging ICs are using in different application of automobile charging which is the boosting factors for the Wireless Charging ICs market.