Transparency Market Research (TMR) recently published a market research report that elucidates the vendor landscape of the global market for wireless charging ICS. Witnessing the huge market potential, several new players have entered the global market for wireless charging ICs over the past decade. It is expected that the entry of new players into the global market will prompt a counter response from the existing players. This response could take the shape of better and more innovative strategies, introduction new product lines, or expansion of geographical reach. Although the current competitive landscape of the global wireless charging IC market is largely consolidated, it is expected to undergo progressive fragmentation over the forthcoming years.

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The current market players in the global wireless charging IC market have been making coordinated efforts to strengthen their position in the market. On the other hand, the new entrants in the global market for wireless charging IC are projected to form strategic alliances in order to strengthen their position in the market.

The global market for wireless charging IC is expected to grow at a boisterous CAGR of 24.54% over the period between 2016 and 2024, according to a report by Transparency Market Research (TMR). The global market was valued at US$1.43 bn in 2015, and is expected to touch a stellar value of US$10.14 bn by 2024-end. Asia Pacific has emerged as the leading regional segment of the global wireless charging IC market while receiver ICs have outdone the transmitter ICs in terms of demand.

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