Smart EV Charger Market to Power Sustainable Transportation with a CAGR of 9.4% by 2030
According to a new report published by MarkWide Research, titled, “Smart EV Charger Market,” the global market for smart electric vehicle (EV) chargers is expected to experience significant growth. Smart EV chargers play a crucial role in promoting sustainable transportation and optimizing charging infrastructure.
The report reveals that the global smart EV charger market is projected to witness a robust CAGR of 9.4% over the forecast period from 2023 to 2030. This growth is driven by the increasing adoption of electric vehicles, advancements in charging technology, and the need for intelligent and connected charging solutions.
Key Findings from the Report:
- Sustainable Transportation: Smart EV chargers contribute to reducing greenhouse gas emissions by promoting electric vehicles.
- Connectivity: The market benefits from smart features, such as remote monitoring, payment processing, and energy management.
- Technological Innovations: Ongoing research focuses on fast charging, wireless charging, and interoperability standards.
- Global Automotive Trends: The market aligns with the global shift toward electric mobility and clean energy.
- Government Initiatives: Supportive policies and incentives drive the adoption of EVs and smart charging infrastructure.
Market Forecast:
The report indicates that the global smart EV charger market is currently valued at $3.8 billion in 2023 and is projected to reach $8.2 billion by 2030, with a CAGR of 9.4% during the forecast period. North America and Europe are expected to be key regions for market growth, driven by electric vehicle adoption and charging infrastructure investments.
Company Profiles:
Key players in the global smart EV charger market include ChargePoint, Inc., ABB Ltd., and EVBox Group. These companies specialize in the development and supply of smart charging solutions for electric vehicles.
Conclusion:
The global smart EV charger market is set for substantial growth, driven by the transition to electric mobility and the demand for intelligent charging infrastructure. With a projected CAGR of 9.4% by 2030, this market offers opportunities for technology providers and charging network operators to support sustainable transportation.