The global wireless charging solution market is expected to grow by a CAGR of over 30% in the next 3-5 years as more and more smartphone vendors have begun to incorporate such solutions into their new models, according to sources at Taiwan-based IC design houses.
Additionally, the ratio of smartphones with wireless charging functionality to total smartphones sold at the end of 2014 is expected to top 20% compared to less than 5% a year earlier, the sources estimated.
Efforts by IC vendors to lower production costs for wireless charging solutions have in part contributed to the growing demand for wireless charging chips and modules, noted the sources, adding that prices of wireless charging modules are likely to drop by 5-10% in the second half of 2014.
