Mobile Phones To Generate $1.3 Billion in Wireless Charging Revenue in 2015, Says Navigant

Adoption of wireless power technology in mobile phones is slowly pushing adoption of wireless power functionality in vehicles and public spaces, said a report from Navigant Research released Wednesday. But low consumer awareness and competing industry standards remain challenges to category growth, said Benjamin Freas, senior research analyst. Inductive coupling, led by the Qi standard, is the predominant wireless power technology in the market, though it's limited in the amount of power and spatial freedom provided, said Navigant. Magnetic resonance addresses these limitations, but commercialization has been delayed, with products expected to hit the market by the end of 2015, it said. More than 100 million mobile phones are expected to ship with wireless charging functionality this year, generating revenue of $1.3 billion, with revenue forecast to reach $17.9 billion in 2024. “The expansion of wearable electronic devices and IoT devices coupled with technological advances are poised to transform the market,” said Freas.