Global Wired Charging Market Envisioned to Garner a Revenue of $14,015.7 Million and Rise at a CAGR of 4.5% over the Forecast Period from 2021-2028 [170-Pages] | Declared by Research Dive
The global wired charging market is expected to see striking growth by 2028, owing to the increasing demand for laptops and smartphones all across the world. Regionally, the Asia-Pacific region is expected to have the maximum share of the market.
NEW YORK, June 17, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Wired Charging Market by Product Type (EV Charger & Type C, Micro USB, Lightning, and Others), Application (Automotive, Consumer Electronics, Smartphones, Tablets, Healthcare Devices, and Others), Sales Channel (Offline and Online), and Regional Analysis (North America, Europe, and Asia-Pacific): Global Opportunity Analysis and Industry Forecast, 2021–2028."
According to the report, the global wired charging market is anticipated to generate a revenue of $14,015.7 million and grow at a healthy CAGR of 4.5% during the estimated timeframe from 2021-2028.
Dynamics of the Wired Charging Market
With the growing demand for laptops and smartphones all across the globe due to the increasing work-from-home and study-from-home because of the outbreak of the novel coronavirus, the market is predicted to witness progressive growth during the analysis timeframe. Besides, the growing inclination of business owners and shopkeepers towards digitalization and rising marketing and lucrative offers provided by smartphone vendors, are the factors expected to bolster the growth of the wired charging market throughout the estimated period. Moreover, the increasing adoption of electric vehicle and rising government investment to develop electric vehicle charging infrastructure are expected to create huge growth opportunities for the market over the analysis period. However, the increasing penetration of wireless charging market may impede the growth of the market during the forecast period.
Covid-19 Impact on the Wired Charging Market
The outbreak of the Covid-19 pandemic has had a negative impact on the growth of the wired charging market. Due to the spontaneous spread of the deadly virus, governments of many countries have imposed stringent lockdowns which has further disrupted the supply chain of the market. Moreover, to follow the social distancing guidelines, many companies were started working with a limited workforce. This led to cause increase in the order backlogs and huge revenue losses. All these factors have affected the growth of the market during the period of pandemic.
Segments of the Wired Charging Market
The report has divided the growth of the wired charging market into different segments based on product type, application, sales channel, and region.
- By product type, the EV charger & type C sub-segment is expected to be most profitable and is estimated to generate a revenue of $7,654.3 million during the analysis timeframe. The growing adoption of screen devices such as tablets, and laptops due to the increasing adoption of work-from-home and online education is projected to foster the growth of the wired charging market sub-segment over the forecast period.
- By application, the consumer electronics sub-segment is predicted to be most productive and is expected to grow at a CAGR of 5.2% during the analysis timeframe. The increasing use of battery-powered consumer electronics such as cameras, watches, laptops, and many others, is projected to propel the growth of the wired charging market sub-segment during the estimated period.
- By sales channel, the offline channel sub-segment is expected to be the most lucrative and is predicted to generate a revenue of $9,447.1 million throughout the forecast period. The growing number of retail stores all across the globe is the major factor projected to fuel the growth of the market sub-segment over the analysis timeframe.
- By region, the Asia-Pacific region of the wired charging market is expected to have expansive growth opportunities and is anticipated to generate a revenue of $4,737.30 million during the estimated period. The growing awareness of the adverse effect of fossil fuels on the climate and the increasing investment by the governments of this region toward clean mobility are the factors expected to drive the growth of the market throughout the forecast period.
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Key Players of the Wired Charging Market
The major players of the wired charging market include
- Delta Electronics, Inc.
- SAMSUNG
- ABB
- Belkin International, Inc.
- Tesla
- Infineon Technologies AG
- Webasto Group
- Dell Technologies Inc.
- Sunvalley Group
- CYD Electronics (Shenzhen) Co., Ltd
These players are working on the development of new business strategies such as collaborations and partnerships, mergers and acquisitions, product development, and many more, to procure the leading position in the global industry.
For instance, in September 2021, Webasto Group, a leading Germany-based company which makes electric-car chargers, sunroofs, and air-conditioning systems, has launched its new product configurator for charging solutions at IAA 2021, a renowned Germany's leading international automotive trade fair. With this platform, business clients all across the globe can get an opportunity to configure and customize their individual desired products in the field of charging solutions, in a tailored manner.
Further, the report also presents other vital aspects such as product portfolio, the financial performance of the key players, SWOT analysis, and the latest strategic developments.
Access an Exclusive PDF Sample of the Wired Charging Market (Including Tables, TOC, and Figures)
More about Wired Charging Market:
- Wired Charging Vs. Wireless Charging: Which is Better and Why?
- Acquisitions Like That of ViriCiti by ChargePoint to Propel the Growth of the Global Wired Charging Market
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