Wireless EV Charging Market To Reach $2.74 Billion By 2030

Mobility Outlook Bureau
26 Oct 2022
10:00 AM
2 Min Read

Compared to conventional public charging stations, wireless EV charging technology is more efficient, versatile, and damage-resistant

Continental Wireless Charger

Rising electric vehicles sale across the globe, technological developments in the automobile industry, as well as innovations in the electronics and telecommunications industries, contribute to the Wireless EV Charging Market to reach $.2.74 billion by 2030. 

A recent report published by Verified Market Research pointed out that the global wireless EV charging market size was valued at $8.95 million in 2021 and is set to grow at a CAGR of 85% till 2030. 

Electric vehicles without cables charging is a very efficient, practical, and simple technique for wirelessly recharging electric automobiles. It consists of a transmission coil that generates a magnetic field and inducts energy into a nearby reception coil. A property of the distance between the two coils is the proportion of the magnetic field generated by the transmitter coil that reaches the receiving coil and helps with power transfer. Qualcomm has played a significant part in the development of practical wireless charging technology.

The report observed that wireless charging is the primary factor driving the market. Compared to conventional public charging stations, wireless EV charging technology is more efficient, versatile, and damage-resistant. Rarely does the user need to exit the EV to deal with difficult connectors, lengthy wires, or a difficult user interface. Overall, the EV charging procedure has been made simpler, which improves the user experience, the report said.

Some of the major players in the market are Robert Bosch GmbH, Continental AG, PowerbyProxi, WiTricity Corp, Toyota Motor Corporation, Toshiba Corporation, WiTricity Corporation, Qualcomm, Inc., Evatran Group, and Integrated Device Technology.

Increasing Demand

The demand for wireless EV charging will rise as a result of reasons such as rising global electric vehicle sales and the desire of auto OEMs for autonomous driving technology. Wireless EV charging is a technique for charging electric vehicles at charging stations whether they are moving or idle. A power transmission coil must be mounted on the charging station and a power collecting coil must be fitted below the bodywork of the car in order to deliver electricity. The vehicles' batteries need to be charged. Electric vehicles integrate into a charging station to draw power from the grid.

According to the report, in May 2022, Continental announced the launch of new sensors that will protect the battery of EVs. They are actually designed for electric mobility to enhance road safety and electric technology.

In May 2022, Toshiba and Japan Semiconductor collaborated to develop an improved Analog platform having embedded non-volatile memory for various applications in the automotive industry.

Courtesy: Verified Market Research. NB: Photo is representational; courtesy: Continental

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