Smart EV Charger Market Growth Rate by 2031 - Top Key Vendors, Trend, Segmentation, Drivers, Challenges

Smart EV Charger: Introduction

- Smart EV chargers are electric vehicle chargers, or electric vehicle supply equipment, designed and developed to support all the players in the value chain of electric mobility, which constitute electric mobility service providers, grid operators, utilities, installers, and other miscellaneous players. Unlike other electric vehicle chargers, smart EV chargers are technologically advanced and offer faster and cost-efficient charging. Furthermore, they also avert expensive grid infrastructure advancements and upgrades.
- Smart EV charging or intelligent charging refers to a system where an electric vehicle and a charging device share a data connection, and the charging device shares a data connection with a charging operator. Smart charging enables the charging station owner to monitor, manage, and restrict the use of their devices remotely to optimize energy consumption, unlike traditional charging devices that aren’t connected to the cloud.

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Key Drivers of Global Smart EV Charger Market:

- Sale and demand for electric vehicles have been increasing across the globe for the last couple of years. Electric mobility has become a mass production market from a niche product. This is majorly due to deterioration of climatic conditions owing to transportation pollution. For the first time in the world, in 2017, the market share of electric mobility surpassed 1% share of total automobiles. This is a major factor that is likely to boost the smart EV charger market during the forecast period.
- Smart EV chargers offer numerous benefits such as maximize the consumption of own-generated green energy, charges when the grid electricity is clean, offers low charging cost, faster charging, restricts the risks of overshooting the fuse, and avoids expensive fixed grid infrastructure costs. This is projected to propel the smart EV charger market during the forecast period.
- Transportation emission policies laid down by regulatory bodies around the world have prompted both auto manufacturers and consumers to opt for electric vehicles. This is another key factor that is anticipated to boost the smart EV charger market in the near future.

Key Players Operating in Global Market:

The global smart EV charger market is highly consulted with top manufacturers across the global market. A few of the key players operating and potential in the global smart EV charger market are:

- OVO Energy Ltd
- Smartev
- ABB
- EVBox
- Juuce Limited.
- Tesla Inc.
- Wallbox Chargers
- Efacec
- Enervalis
- Alfen N.V.
- Allego B.V.
- Bosch Automotive Service Solutions Inc.
- Schneider Electric

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Global Smart EV Charger Market: Research Scope

Global Smart EV Charger Market, by Connector Type

- CHAdeMO
- Combined Charging System
- Tesla Supercharger

Global Smart EV Charger Market, by Power Supply Range

- 3 to 22 KW
- 22 to 60 KW
- Above 60 kW

Global Smart EV Charger Market, by End-Use

- Residential Charging Unit
- Commercial Charging Unit

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

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The following regional segments are covered comprehensively:

- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

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