The global market for wireless power and charging devices is expected to explode in 2015, according to some rather prominent industry analysts. IHS (News - Alert) Technology has actually said that this particular market is going to grow by more than 3,000 percent compared to 2014 and this massive amount of growth is going to be spurred by the eventual launch of the Apple Watch.
In total, the revenue for wireless power receivers and transmitters in wearable applications are expected to pass the $480 million this year. That number will be a rather massive growth from the $15 million last year. The growth from 2014 to 2014 appears to be just the tip of the iceberg. IHS says that the revenue numbers for this particular market will actually top $1 billion by the time we get to 2019.
“Growth this year will be remarkable for wireless charging in wearable electronic devices, even if in reality the overall penetration of wireless charging into wearables is relatively low given the billions of wearables that are shipped into the consumer market every year,” Vicky Yussuff, analyst for wireless charging at IHS Technology said in a recent statement. Yussuff said that interest in this particular market is very, very high when it comes to wearable technology providers and this is the biggest reason why her company believes that market penetration is going to grow rather rapidly in the next five years.
The Apple (News - Alert) Watch is the newest piece of wearable technology that is getting quite a bit of attention and this is the reason IHS believes portable and wireless chargers are going to get so much more popular. In total, the company believes that the Apple Watch will make up about 70 percent of the market when it comes to wireless charging capable devices. That massive amount of the market will actually drive the entire market and make it an incredibly lucrative one in 2015.
Edited by Maurice Nagle
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