According to Triton, the wireless charging market in Latin America is expected to proliferate with a CAGR of 23.92% in the forecast period of 2019-2028.
The countries reviewed in this market are:
• Brazil
• Mexico
• Rest of Latin America
Countries in Latin America, such as Argentina, Brazil, and others, are being seen as potential hubs for the automotive and aerospace sectors. Wireless charging finds its chief application in these verticals. Therefore, the growth in these sectors has been responsible for the rising demand for wireless technology in the region. The prominent names operating in the Latin American market include Texas Instruments Inc., Witricity Corporation, and Qualcomm Inc., among others.
Moreover, other factors such as the growth in consumer awareness and the shipping of more number of devices with embedded wireless charging are also contributing to the steadily rising demand. Furthermore, Apple Inc recently adopted the “Qi” standard, which has raised the demand for wireless charging in Latin America, in turn, leading to the market growth in the region.
Brazil is one of the five biggest automotive markets in the world. It is also a major operating base for companies like Volkswagen AG, Ford Motor Co, General Motors Co, and Fiat Chrysler Automobiles NV. Given the growing vehicle ownership in the country, EV manufacturers have been able to invest huge sums in the region. Brazil has a decent manufacturing base for electric vehicles, despite the fact that these vehicles remain exorbitant and inaccessible in the country. However, the government has been making efforts to decrease the cost of EVs so as o enhance their adoption rate. A growth in the country’s electric vehicle market signifies growth for the wireless charging market, in turn.
Belkin International Inc is a manufacturer of connectivity solutions & accessories like wireless chargers, cables & adapters, and lightning accessories, among others. It operates through the brands Linksys, WeMo, and Belkin. Linksys is responsible for the growing popularity of wireless connectivity around the globe. Belkin International has several of its offices located in South America.
The top key players in the wireless charging market are Powermat, Belkin International Inc, Semtech, Aircharge, Samsung, Energous Corporation, WiTricity Corporation, TDK Corporation, Qualcomm Technologies Inc, Renesas Electronics Corporation (Integrated Device Technology Inc), ConvenientPower HK Limited, Infineon Technologies AG, Texas Instruments Incorporated, NuCurrent, and NXP Semiconductors.