BASINGSTOKE, England, Feb 21 (Bernama-BUSINESS WIRE) — A new study from Juniper Research has found revenue from EV (Electric Vehicle) charging will exceed $300 billion globally by 2027; up from $66 billion in 2023. The report, EV Charging: Key Opportunities, Regional Analysis & Market Forecasts 2023-2027, found fragmentation in charging networks is restricting EV adoption.
Chargers are overwhelmingly located in urban areas; leading to widespread range anxiety among potential drivers. This is coupled with the difficulty of accessing charging points via different apps and cards, as well as lack of standards for charging vehicles at the same rate. As such, EV charging networks must simplify access and work with local authorities to roll out chargers to a wider range of locations, or the EV market will struggle to accelerate.