Trending in Asia: Wireless charging, a management framework, and a new breed of smart devices

This article is a collaboration between Betty Chum, Stefanie Yeo, and Doris Yu.

Trend 1: Look ma, no wires!

Wireless charging has been on the rise in recent years, especially after Apple announced in 2017 that the iPhone 8 would come with such functionality.

This has driven up demand for wireless charging devices and product innovations. Currently available wireless chargers are typically charging mats: Phones have to be placed flat on a surface, and moving them too much would break the connection. As a result, there’s been a surge of interest in wireless charging stands, which allows users to use their phones while they’re being charged.

The wider adoption of the Qi standard for wireless charging – it’s the one Apple uses – also opens up many opportunities for businesses to offer this feature on other products, such as headphones, laptops, and handheld gaming devices.

Current landscape

The wireless charging market exceeded US$11 billion globally in 2019, and it’s set to hit a compound annual growth rate of 14.5% between 2020 and 2026. In Asia Pacific, the market is expected to see a growth rate of 18% through 2026.

Various startups in the space have been receiving attention. Last year, Italy-based Eggtronic, which develops power electronics and wireless charging products, raised US$10 million in series A funding, while US-based wireless power startup Aira received a strategic investment from global auto parts supplier Motherson.

In Singapore, Novelsys tried to develop a wireless charging sleeve for mobile devices in 2015. While the startup failed to get off the ground, recent advancements in technology and greater consumer awareness mean that there’s room for businesses to take another stab at the space.

Some areas to keep an eye on are:

• Adapt and grow: There’s a market for producing adapters that equip devices with wireless charging capabilities. Smartphone penetration is soaring in Asia, but the region’s popular low-cost brands don’t offer products with wireless charging yet. However, wireless charging pads can be purchased online at relatively affordable prices, so there’s opportunity in bridging that gap.
• All around us: What if we could charge our devices anywhere at any time – even while they’re in our hands? Several companies are experimenting with charging devices wirelessly over the air: Xiaomi recently unveiled a tech demo of its Mi Air Charge, and US-based Guru claims to have built a wireless charging system that transmits electricity using high-frequency radio waves.
• Out of home: While much of the conversation around wireless charging has been focused on smaller consumer electronics, it has the potential to get bigger – literally. Wireless charging for electric vehicles could address some of the issues that are impeding the broader adoption of the vehicles. Imagine if you could charge your car while driving home from the office?

Trend 2: Pets are going high-tech

The Chinese pet economy is booming, thanks to “pet parents” who consider the welfare of their beloved companions as a top priority.

Unlike their older-generation counterparts, millennials consider themselves parents of their pets and pay good money to ensure that their “children” get the best treats. During Alibaba’s Singles’ Day shopping festival in 2019, pet food emerged as the no.1 imported product at one point – surpassing even imported milk powder for infants.

Trend 3: My goals for 2021 are to…