Residential units represent the largest worldwide market of all charging station installation types
A recent report from Navigant Research analyzes the market for plug-in electric vehicles (PEVs) and electric vehicle supply equipment (EVSE) infrastructure and associated communications equipment and services, with global market forecasts, through 2024.
While public charging networks for PEVs have been available in North America and Europe for some time, efforts to develop charging infrastructure in other areas of the world are just now gaining traction. These public networks require communications to ensure that consumers are given access to power—even in cases where a site offers free charging, the station must be able to supply consumption data to the site owner or network operator. Click to tweet: According to a recent report from @NavigantRSRCH, global revenue from communications equipment and services associated with electric vehicle (EV) charging networks is expected to total more than $3.5 billion from 2015 to 2024.
“The market for PEV charging equipment is still quite young, but the growing base of PEVs and government efforts to encourage their spread will support millions of connected charging stations over the next decade,” says Richelle Elberg, principal research analyst with Navigant Research. “Eventually, connected charging sites will become points that allow drivers to charge their vehicles remotely and could hold other potential uses, such as utility-driven demand response programs.”
The residential market for charging stations is the largest of the EVSE installation types worldwide and many PEV owners purchase their own charging station alongside their vehicle, according to the report. However, to date, few of these stations have communications capabilities; as a result, clusters of unconnected chargers can wreak havoc on a local utility’s grid infrastructure and load curve, and PEV owners are oftentimes left unaware of EV-specific rates or other programs that could drive down their bill.
The report, Communications Technologies for EV Charging Networks, examines the outlook for PEV and EVSE infrastructure and associated communications equipment and services. The study outlines regional considerations and describes the connectivity requirements for four segments of charging sites: residential, workplace, public, and private/fleet. Global market forecasts for communications equipment and services tied to EVSE infrastructure extend through 2024. The report also examines the major categories of communications technologies employed in EVSE networks, as well as the key vendors, service providers, and utilities active in the EVSE space. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Lorenz
* The information contained in this press release concerning the report, Communications Technologies for EV Charging Networks, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.