Frost & Sullivan have set a forward-looking goal for 351,900 inductive charging (wireless charging) units to be sold by 2020.
The involved companies in this technology will expand partnerships with Original Equipment Manufactures (OEMs) during the testing phase to ensure and strengthen the value of these products.
An analysis from Frost & Sullivan finds the annual growth of the market for inductive charging will increase at a rate of 126.6%. Inductive charging will account for 1.2% of both public and residential charging in North America and more than 2.6% in Europe by 2020.
The market for inductive charging is claimed to grow the fastest in Europe due to several demonstration projects there, as well as commitments from OEMs and charging manufacturers.
To add, Prajyot Sathe, Frost & Sullivan Automotive and Transportation Senior Research Analyst, stated:
"OEMs such as Renault, Nissan, Daimler, Volvo, BMW and Toyota are working on the development of inductive charging for future EVs, and more than 10 automakers have announced trial tests."
"As a result, inductive charging will soon be available in cars either as an additional feature or as an inbuilt feature."
Inductive charging is currently available as an aftermarket solution with some appealing financing options. But the cost of purchase and installation is 30% higher than conductive charging. C
"While in the short-term 3.3 kilowatts inductive charging will be widely accepted to enable residential and semi-public charging, with time, vehicles will tilt towards 6.6 kW to enable faster charging"
"Inductive charging in stationary applications too will be most sought after in the near-term, whereas dynamic or on-the-move charging will gain traction post-2020."
More on Frost & Sullivan can be found here.