Wireless charging market continues to grow

The global wireless charging market will grow from US $6 billion in 2018 to US $10 billion in 2020, and is expected to reach US $15 billion by 2024, with a compound annual growth rate of 16%. Consumer electronics, automobile, industry, aviation and military industry, medical are the main demand markets of wireless charging.
 
Source: WPC
· In 2018, after the release of Apple 8, the wireless charging market grew significantly, with a total shipment of 550 million receivers and 200 million transmitters.
· In 2020, a total of 1 billion receivers and 400 million transmitters will be shipped, nearly double the number in 2018.
· In 2024, it is estimated that there will be 2 billion receivers and 800 million transmitters, and the composite annual growth rate of receiving and transmitting shipment is 24% and 26% compared with 2018.  
· In 2020, a total of 1.292 billion mobile phones will be shipped, multiplying by the penetration rate of wireless charging of that year by 25%, and the total market value of mobile phone wireless charging segment will be 32.3 billion yuan;
· According to the same number of units shipped, the market value of mobile phone wireless charging is expected to reach 58.14 billion yuan in 2024（ Data source: IDC and related market information)
· Stock market: Jintang electronic technology can be downward compatible with the first generation wireless charging technology to meet the market demand during the transition period.
· Incremental market: the wireless charging technology of Kington electronic technology can better meet the market demand.