(MENAFN- EIN Presswire) EINPresswire/ -- What Is The Forecast For The Inductive Roadway Charging Display Market From 2024 To 2029?
The market size of the inductive roadway charging display has seen a significant increase and will rise from $1.02 billion in 2024 to $1.22 billion in 2025 with a compound annual growth rate (CAGR) of 20.1%. The past trend of growth can be traced back to the rising uptake of electric vehicles, an increase in government support for electric vehicle infrastructure, heightened awareness of environmental sustainability among consumers, amplified urbanization, and escalating fuel costs.

The inductive roadway charging display market volume is anticipated to witness a steep incline over the next few years, estimated to swell to $2.51 billion by 2029 at a compound annual growth rate (CAGR) of 19.7%. This growth during the forecast period can be credited to the escalating implementation of smart cities, heightened customer interest in contact-free charging solutions, rising emphasis on minimizing carbon emissions in transportation, growing cost-efficiency of wire-free charging solutions, and the expanding electrification of fleets by logistics and public transport corporations. Notable trends projected for the forecast period incorporate the establishment of standardized procedures for cross-functionality, the evolution of cost-efficient infrastructure models, integration with intelligent grid systems, innovation in dynamic charging lanes, and advancement in high-power charging technology.

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What Are The Core Growth Drivers Shaping The Future Of The Inductive Roadway Charging Display Market?
The escalating usage of electric vehicles (EVs) is anticipated to stimulate the expansion of the inductive roadway charging display market in the future. Electric vehicles, being wholly or partially powered by electricity, offer a more environmentally friendly alternative to conventional internal combustion engines. The growing sensitization to environmental issues and efforts to curb greenhouse gases and counteract climate change are leading to an increased uptake of electric vehicles. The inductive roadway charging display bolsters the ease and effectiveness of electric vehicles by facilitating wireless charging while in motion, alleviating concerns about driving range and promoting broader acceptance of EVs. For instance, data from the U.S. Department of Energy, a federal agency in the U.S., revealed in February 2024 that there was a substantial year-on-year growth for EV sales each month over the last three years. The top monthly sales of around 50,000 vehicles in 2021 surged to nearly 80,000 in 2022 and exceeded 100,000 in 2023. As such, the rising adoption of electric vehicles (EVs) fuels the expansion of the inductive roadway charging display market.

Which Companies Are Currently Leading In The Inductive Roadway Charging Display Market?
Major players in the Inductive Roadway Charging Display Global Market Report 2025 include:
. Siemens AG
. Groupe Renault
. Volvo Group
. Continental AG
. Qualcomm Incorporated
. ABB Limited
. Toshiba Corporation
. ZTE Corporation
. Jacobs Engineering Group Inc.
. Bombardier Inc.

What Are The Top Trends In The Inductive Roadway Charging Display Industry?
Leading entities in the inductive roadway charging display market are striving to innovate by developing solutions like embedded roadway charging systems. The aim is to improve the efficacy and ease of charging electric vehicles. These systems involve road surfaces fitted with technology that contains inductive coils, which transmit electricity wirelessly to compatible electric vehicles that are driving or parked on these surfaces. In a notable initiative in November 2023, the Michigan Department of Transportation, a government agency in the U.S, collaborated with Electreon Wireless Ltd., a technology firm from Israel, to inaugurate the country's first public EV-charging roadway at Michigan Central in Detroit. This facilitates wireless charging for electric vehicles while they're moving. This system incorporates inductive charging coils placed under a portion of 14th street spanning a quarter-mile, enabling compatible EVs to charge either dynamically while in movement, or statically when parked. Thorough real-time surveillance via cloud-based software guarantees a smooth, wire-free power transmission to vehicles fitted with Electreon receivers. This marks a significant step forward in scalable, zero-emission transport infrastructure.

Comparative Analysis Of Leading Inductive Roadway Charging Display Market Segments
The inductive roadway charging display market covered in this report is segmented as

1) By Component: Hardware, Software, Services
2) By Display Type: Light-Emitting Diode(Led), Liquid Crystal Display(Lcd), Organic Light-Emitting Diode(Oled), Other Display Types
3) By Technology: Dynamic Wireless Charging, Static Wireless Charging
4) By Application: Highways, Urban Roads, Parking Lots, Airports, Other Applications
5) By End-User: Public Infrastructure, Private Infrastructure, Government, Transportation Authorities, Other End-Users

Subsegments:
1) By Hardware: Inductive Coils, Power Electronics, Roadway Sensors, Communication Modules, Charging Pads
2) By Software: Charging Management Software, Vehicle Communication Interface, Data Analytics Software, Monitoring And Control Software, Simulation And Modeling Software
3) By Services: Installation Services, Maintenance Services, Consulting Services, System Integration Services, Training And Support Services

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Which Regions Are Dominating The Inductive Roadway Charging Display Market Landscape?
In 2024, North America held the largest share in the global inductive roadway charging display market. Meanwhile, Asia-Pacific is anticipated to experience the most rapid growth in the coming years. The report includes data from various regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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