The global automotive inductive wireless charging systems market sold around 45 thousand units in 2016 and is expected to surpass 375 thousand units by 2021, says Technavio.
Technavio has announced its latest market research analysis on the global automotive inductive wireless charging systems market to its automotive electronics portfolio. This research study discusses the main drivers and key emerging trends and offers a breakdown of key vendors like Evatran, Momentum Dynamics, Qualcomm Technologies, and WiTricity.
According to Neelam Barua, a lead analyst for automotive electronics research at Technavio, “The automotive OEMs are focusing on the development and adoption of green vehicles like plug-in electric vehicles (PEVs) to reduce greenhouse gasses. The increasing demand and sale of PEVs will positively impact the inductive wireless charging systems market during the forecast period.”
These PEVs are designed to run on alternative sources of energy such as electricity, hybrid energy, and other power sources such as solar, wind energy, and biofuels. The implementation of stringent emission and fuel consumption regulations around the world will encourage vendors to launch vehicles that are environment-friendly. The government agencies in various countries are also offering tax incentives and subsidies for PEV manufacturers and end users resulting in the growth of the market.
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Vehicle-to-grid charging and storage system
Automotive OEMs are developing technologies that are reversing the induction process to power back the grids from the charged vehicle whenever needed. This system is designed to draw energy from the grid through wireless charging systems (WCS) at off-peak hours and store it in PEV battery for later use. This innovation will help reducing power demand on national grids and energy cost for facilities. Such technological innovations will drive the growth in the inductive wireless charging systems market.
Autonomous EVs with WCS
The growing demand for sustainable transportation is encouraging vendors to use advanced technologies to introduce autonomous EVs (AEVs). The AEVs will perfectly position themselves over the charging pads; thus, achieving maximum efficiency. Leading vendors are adopting this technology to increase their consumer base and profitability. For instance, Google is already in the trial of WCS technology in its self-driving cars.
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This market research report includes a detailed analysis and market shares and sizes of the sub-segments and geography. A study of the key companies, including their business overview, market shares, key financials, etc. is provided in this research report. This market study also provides a detailed breakdown of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive Inductive Wireless Charging Systems Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Wireless Chargers Market 2017-2021
- Global Automotive Solar Carport Charging Station Market 2017-2021
- Global Electric Vehicle Charger Market 2016-2020
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