Although the hottest car company of the 21^st century made him famous, electrical engineer Nicola Tesla may also soon be as well known for a technology he pioneered in the late 19^th century.

#-ad_banner-#Back then, Tesla stunned the world by transmitting power over vast distances — without any wires. In the year ahead, his wireless power transfer (WPT) technology stands to become the hottest new technology in a whole range of industries. And investors need to brush up on this game-changing technology now, if they want to profit from it in the years ahead.

Look ma, no wires
We’ve all suffered from the same fate. Our cellphone batteries die right at a time when we’re expecting an important phone call. Yet in recent quarters, WPT has already emerged as a solution. Simply place your phone in the vicinity of a WPT port, known as a “powermat,” and the need to remember to plug your phone in becomes a thing of the past.

But we’re not just talking about phones. Toyota (NYSE: TM), for example, plans to roll out car-based WPT for homeowners, shopping mall operators and office parks. And it won’t stop there. Over the coming years, look for WPT to become embedded in furniture, nightstands, car interiors and a myriad other household items.

You may have already had experience with WPT. Oral-B toothbrushes use WPT to re-charge the batteries simply by placing the base of the toothbrush on top of a WPT device. It’s a simple use of the technology — toothbrushes require just one watt of power. Yet WPT is quickly evolving to handle ever higher power loads. A notebook computer, for example, needs six-to-30 watts of power. A washing machine needs 500 watts. Once insurmountable barriers are now being surmounted and these products will embed WPT into their circuit boards in coming years. Equally important: As this technology evolves, so will the distance between a WPT device and the object it is powering.

In just four months, you’ll be hearing a lot more about WPT. That’s because the technology is expected to garner a great deal of buzz at the 2015 Consumer Electronics Show, held in Las Vegas in January. Analysts at Oppenheimer predict “a record number of new entrants are expected to show commercial-ready products at CES 2015.”

How ubiquitous will WPT become? According to market research firm IHS, the number of WPT devices is expected to rise to 1.7 billion units in 2023 from roughly five million in 2012. Oppenheimer’s analysts figure revenues from WFT devices may top $7 billion by 2017 and catapult higher from there. 

The key question for investors: Which companies are in a position to lead the WPT revolution?

Privately-held WiTricity — short for “wireless electricity” — has garnered a great deal of buzz since it was spun out from MIT. The company hasn’t announced IPO plans just yet, but you can be sure it will be a hit offering. The company hired a new CEO in April with ample experience at publicly-traded tech firms.  

Privately-held Powermat Technologies is also a name to watch. It is gearing up for a slate of new products with partner The Procter & Gamble Co. (NYSE: PG), utilizing that firm’s Duracell brand. Speaking of battery makers such as Duracell, Energizer Holdings, Inc. (NYSE: ENR) has also shown an interest in WPT.

A group of companies including Nokia Corp. (NYSE: NOK), Verizon Communications, Inc. (NYSE: VZ), Leggett & Platt, Inc. (NYSE: LEG) and Texas Instruments, Inc. (NYSE: TXN) have joined forces as part of the Wireless Power Consortium, backing a standardized platform known as Qi, which is crucial for a WPT eco-system to truly evolve.

Other privately-held WPT companies that may pursue an IPO include:

— PowerbyProxi
— WAVE
— Humavox
— Powercast
— LaserMotive
— Wi-Charge

OK, so which public companies are the way to go? Well, there is one small publicly-traded company focusing on WPT: Energous Corp. (Nasdaq: WATT), which went public in March 2014. Energous is still “pre-revenue” and the challenge for the company is to build up sales in coming years to get to break-even. Until then, this is a high-risk/high-reward kind of stock.

At this winter’s Consumer Electronics Show, look for many public companies to embrace WPT, perhaps none more than Qualcomm, Inc. (Nasdaq: QCOM). That wireless technology giant is backing a rival to Qi, known as Rezence. As was the case with the Betamax-versus-VHS debate three decades ago, Qi versus Rezence will be a battle that plays out over the next year, and if Rezence emerges the victor, then Qualcomm can utilize a great deal of its own intellectual property. Qualcomm has one set of products on the market now and has plans to launch more in coming quarters.

Also, investors should track the moves of Integrated Device Technology, Inc. (Nasdaq: IDTI), which is also backing the Rezence standard. To be sure, it’s too soon to know how quickly WPT will evolve into a major market opportunity for companies like IDTI, Qualcomm, Texas Instruments, and others, but simply referencing the market forecasts noted earlier, this game-changing technology could really move the revenue needle.

Risks to Consider: As with any new technology, profits in this niche may be initially constrained until unit sales volumes grow large enough to generate traditional semiconductor profit margins.

Action to Take –> With the next CES show just four months away, this is a great time to study up on WPT and start to nibble at potential beneficiaries. As this technology moves into the spotlight, a great deal of investors buzz may ensue, giving industry share prices a nice lift. Also, keep an eye out for a raft of WPT-related IPOs in coming quarters. They too could attract a great deal of investor attention. 

Wireless power transfer technology is sure to move the markets, but its not the only game-changer. We recently released a report detailing “The Hottest Investment Opportunities For 2015.” Our top growth-stock expert has made predictions on the next game-changing trends that have given investors 89%, 92%, 293% and even 310% gains in a year. To hear his latest predictions, and see which ones have already come true, click here.