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Posted in Technology

Is it really time to pull the plug?

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 battery will run out of juice. With electric cars approaching the market, it was natural to come up with 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’s 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 an early stage of the market and aim to launch their products for OEMs in 2018.

An India-based market research consultancy compiles 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 town – 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 underside 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 that is placed on the ground, must be connected to a power source and is waterproofed for outdoor use.

Tech giants like Qualcomm have forayed into 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. Also, an increase in electric car ownership is expected, due to the ease of charging. This, in turn, is expected to increase demand from infrastructure manufacturers for wireless charging systems. However, demand for conventional cars is expected to take a hit with the advent of wireless charging for electric vehicles.

Now, here’s the bright spot for investors: the market is expected to experience 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 rising awareness of global warming issues, depleting levels of fossil fuels, etc. This is a futures market, which is about to peak by 2022-2025. Now, isn’t it a golden opportunity for investors to participate and also contribute their two cents to the environment?

Get ready for the next big thing!

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