Advanced Charging Technologies to Top $34 Billion in 2015

Markets for advanced charging technologies, such as the solar chargers, are set to see a staggering growth in the years ahead, reaching $34 billion in 2015, says a report from ABI Research (News - Alert).

Though the market for these technologies is currently worth just about $1.5 billion, the research firm expects it to grow at a CAGR of more than 86 percent over the next five years.

As people carry and use increasing number of portable electronic devices, they have a growing need to charge their batteries on the go. That is why a number of vendors are fast developing and commercializing advanced charging technologies that charge the batteries wirelessly using solar or wind power.

“The advanced charging revolution is about to take off,” says Larry Fisher, research director of NextGen (News - Alert), a division of ABI Research, adding that many developers are releasing their products in late 2010 and the first half of 2011.

“The Wireless Power Consortium’s release of Qi standard for wireless charging has set the stage for portable electronics manufacturers and infrastructure producers such as Panasonic, Philips Electronics, Samsung, LG Electronics (News - Alert) and Nokia to incorporate the technology into their products.”

Some of these technologies are particularly applicable to users in developing countries. Parts of the Middle East and Africa, for example, do not have access to stable power, and cellphone users must travel many miles and pay to charge up.

Therefore, analysts believe, solar chargers and handsets could make a real difference to the lives of people in such circumstances, even though they’re currently being marketed primarily to the eco-conscious in the developed world.

In the report titled “Charging Technologies for Portable Devices,” ABI Research forecasts shipments and revenue for each category of advanced charging technology, and analyzes the vendor landscape and technology developments.