EV charging sessions to exceed 1.5bn by 2026 globally

nick-maynard_Compliance-1

Hampshire, UK. 22nd November 2021- A new study from Juniper Research has found that the global volume of EV charging sessions, where an EVs battery is charged using a charging point, will exceed 1.5 billion per annum in 2026, from just 200 million in 2021.

This remarkable growth rate of more than 665% over the next five years will be driven by greater government incentives for electric vehicles, as well as more widespread charging service availability.

The research identified incentives for EV ownership as having significantly increased take-up in Europe, with coordinated incentives packages needed in North America to stimulate growth. To support greater electrification, Juniper Research recommends that EV charging vendors work with governments and other stakeholders, including fuel retailers, to plan coordinated public charging network roll‑outs, or the mass electrification of mobility will stall.

Home charging still dominating EV charging sessions, but not revenue

The new research, EV Charging: Key Opportunities, Challenges & Market Forecasts 2021-2026, found that home charging will decline slightly; accounting for over 70% of all EV charging sessions in 2026, compared with just over 80% in 2021. However, the report found that this dominance does not directly translate into hardware revenue for charging point vendors, with public charging stations accounting for 56% of charging point hardware revenue globally in 2026.

Research author Nick Maynard explaines, “While EV charging at home will largely remain dominant, public charging roll-outs will be a major focus going forward, and their installation will be critical to enabling users who do not have off-road parking to join the electric mobility revolution.”

Fast charging represents next battleground

The research found that as EVs become longer range and more powerful, fast charging DC (direct current) stations will be the next key competitive battleground within the EV charging landscape. The report recommends that vendors work on partnerships with key destinations, such as car parks and retailers now, in order to schedule fast charger roll-outs, or they will lose ground to faster-moving competitors.

For more insights, download the free whitepaper: How EV Charging Is Driving Electric Mobility Forward

Comment on this article below or via Twitter: @IoTNow_OR @jcIoTnow

RECENT ARTICLES

5th Edition Connected Africa announces Telecom Innovation & Excellence Awards 2024

Posted on: April 19, 2024

The International Center for Strategic Alliances (ICSA) has announced the 5th Edition Connected Africa- Telecom Innovation & Excellence Awards 2024, set to be held on 22 May 2024 in Johannesburg, South Africa. Under the theme “Building a Connected Global Economy,” the summit aims to influence the telecom in Africa. With a focus on fostering forward-thinking

Read more

Facilio launches refrigerant tracking and leak detection software

Posted on: April 19, 2024

Property operations software firm Facilio has announced the launch of its ready-to-deploy refrigerant tracking and leak detection software solution. This is meant for all grocery and convenience store operators who want to implement an automatic leak detection system to identify and mitigate potential refrigerant leaks to achieve 100% compliance.

Read more
FEATURED IoT STORIES

What is IoT? A Beginner’s Guide

Posted on: April 5, 2023

What is IoT? IoT, or the Internet of Things, refers to the connection of everyday objects, or “things,” to the internet, allowing them to collect, transmit, and share data. This interconnected network of devices transforms previously “dumb” objects, such as toasters or security cameras, into smart devices that can interact with each other and their

Read more

The IoT Adoption Boom – Everything You Need to Know

Posted on: September 28, 2022

In an age when we seem to go through technology boom after technology boom, it’s hard to imagine one sticking out. However, IoT adoption, or the Internet of Things adoption, is leading the charge to dominate the next decade’s discussion around business IT. Below, we’ll discuss the current boom, what’s driving it, where it’s going,

Read more

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, home automation using iot is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more

5 challenges still facing the Internet of Things

Posted on: June 3, 2020

The Internet of Things (IoT) has quickly become a huge part of how people live, communicate and do business. All around the world, web-enabled devices are turning our world into a more switched-on place to live.

Read more