This updated analysis on the wireless car charging market by skilled analysts at Persistence Market Research estimates the industry to surge at an impressive CAGR of 42.5% over the next ten years. As per this analysis, market revenue totaled US$ 16 Mn in 2020, and is expected to amount to a valuation of US$ 550 Mn by the end of 2031.
The automotive industry is seeing a major paradigm shift from fossil fuel-operated vehicles to electric and hydrogen-powered vehicles. This shift is the result of depleting fossil fuels, increasing prices of these fuels, rising environmental concerns about emissions from fossil-powered vehicles, etc.As the world searches for cleaner alternatives for fossil fuels, electric vehicles are the first choice as they have proven their efficiency and practicality. The number of electric vehicles and electric vehicle manufacturers has grown substantially over the past decade.
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Competitive Landscape
The global wireless car charging market has been identified as a fairly fragmented space due to the presence of a high number of market participants. Some of the key market players included in the report are Qualcomm Technologies Inc., Evatran LLC (Plugless Power), WiTricity Corporation, Momentum Dynamics Corp., Toshiba Corporation, Mojo Mobility Inc., HEVO Inc., Bombardier Inc, TDK Corporation, Denso Corporation, and ZTE Corporation.
The above are identified as key providers of wireless car charging. These market participants are engaged in market expansion activities and are developing new strategies to increase their sales on a global level.
More Valuable Insights on Offer
Persistence Market Research, a research and consulting firm, has published a revised market research report on the global wireless car charging market that contains industry analysis of 2016–2020 and opportunity assessment for 2021–2031. The report provides an in-depth analysis of the market through different segments, namely, base station, type of car, technology, and region. The report also provides supply and demand trends along with an overview of the parent market.
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About Electronics, Semiconductor, and ICT Division at Persistence Market Research
Expert analysis, strategic recommendations and actionable insights- the electronics, semiconductors, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, & ICT, of which 100+ reports are specifically on software, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductors, and ICT industry.
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