By 2025, the global electric vehicle wireless charging market will exceed $400 million

According to the latest market research data released by Markets and Markets, by 2020, the global electric vehicle wireless charging market revenue is about 8 million US dollars, but by 2025, it will quickly increase to 407 million US dollars, with a compound annual growth rate of 117.
56%.

The demand for luxury electric vehicles and increasing sales of electric vehicles, government regulations to reduce emissions, and rapidly developing electric vehicle infrastructure are driving the overall demand for
the wireless electric vehicle charging market.
OEMs working with manufacturers of wireless charging technology are also starting to develop their own charging infrastructure for the convenience of electric vehicle owners, which is expected to drive the growth of
the wireless electric vehicle charging market.

Pure electric vehicles (BEVs) are expected to hold the largest market share
during the forecast period.
Government initiatives to promote zero- or low-emission vehicles contribute to the rapid growth
of BEVs.
Some governments have started to provide subsidies for environmentally friendly vehicles to encourage the use of BEVs
.
For example, the Chinese government provides a subsidy of RMB 55,000 for BEV passengers and RMB 30,000 for PHEVs
.

From 2020 to 2025, the dynamic charging market is estimated to be the fastest growing wireless electric vehicle charging market
.
Dynamic wireless charging technology for electric vehicles is the most preferred and most attractive future technology
in the EV industry.
U.
S.
-based manufacturers of wireless charging systems such as Qualcomm Technologies demonstrated dynamic wireless charging technology
by building a 100-meter test track embedded in wireless charging systems.
Once electric vehicles are introduced in the mass market, dynamic charging technology will have a bright future
.
Future roads/highways are expected to be equipped with this technology, where drivers must pay taxes to enter lanes in order to charge
their electric vehicles on the go.

From 2020 to 2025, Asia Pacific is expected to be the largest market
for wireless electric vehicle charging systems.
The rising penetration of electric vehicles in developed markets is likely to increase the demand
for wireless charging systems.
Increasing investments in R&D, coupled with the increasing number of partnerships and joint ventures between major OEMs and in-country players, create growth opportunities
for wireless charging system manufacturers in Asia Pacific.
In addition, the region, which includes emerging economies such as China and India, as well as developed countries such as Japan, is the largest automotive market
.
As a result, technological advancements have enabled major OEMs to incorporate advanced and convenient features such as wireless charging systems
into their electric vehicles.