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With a variety of anxieties looming, it’s time to add one more to the list!

Range anxiety (pun not intended!) is the fear that your electric vehicle’s battery will run out of power. With electric cars coming closer to the market, it was only natural to have an innovative idea of ​​dynamic charging, which refers to charging an electric vehicle, on the move, without the need for charging stations. However, the idea is futuristic. What is in the loop is wireless charging. Currently, Plugless Power, which is a brand of EEVATRAN, is the only company that supplies wireless charging systems, but for the aftermarket. The company plans to enter the OEM market in China and has already signed an agreement with a Chinese manufacturer. Companies like Qualcomm, Witricity, Bombardier, Momentum Dynamics, etc. they are still in the early stages of the market and aim to launch their OEM products in 2018.

An India-based market research consultancy draws up the trends in global wireless charging for the electric vehicle market. According to estimates, the market will grow at a rate of 43.6% in the next five years.

Say goodbye to painful cable charging and hello to new technology in the city: all you need is a strategically placed station and charging pad, to breathe life into cars, again.

In all its simplicity, the necessary components are a pad on the ground and a receiver mounted on the bottom of a vehicle. Inductive charging is used in the EEVATRAN wireless system. A magnetic field is created by passing electricity through a coil. One coil is placed on the ground and the other is attached to the underside of the vehicle. The second coil which is placed on the ground, must be connected to a power source and is waterproofed for outdoor use.

Tech giants like Qualcomm have entered wireless charging for the electric vehicle market, with Qualcomm Halo Wireless Electric Vehicle Charging (WEVC) technology.

How will technology affect the market?

The electric vehicle market is expected to witness an increase in sales. Additionally, an increase in electric car ownership is expected, due to the ease of charging. This, in turn, is expected to increase demand from wireless charging system infrastructure manufacturers. However, demand for conventional cars is expected to take a hit with the advent of wireless charging for electric vehicles.

Now, here is the bright spot for investors: the market is expected to see strong growth for 2018, due to many company-related activities or product launches taking place in that particular year. Also, the market is anticipated to rise rapidly, owing to increased awareness of global warming issues, depletion of fossil fuel levels, etc. This is a future market, which is about to peak by 2022-2025. Now, isn’t this a golden opportunity for investors to participate and also do their bit for the environment?

Get ready for the next big thing!

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