The number of connected EV charging points in Europe and North America is growing exponentially, and that expansion is projected to continue.
There are roughly 900,000 units across the two continents, with Europe representing the largest share with about 600,000.
Growing at a compound annual growth rate (CAGR) of 38% the number of connected charging points in the two regions is expected to reach 4.4 million in 2024, according to Berg Insight. The projection was included in a report from the Sweden-based tech market research firm outlining new findings about the market for electric vehicle charging infrastructure in Europe and North America.
The connected EV charging station market is served by a variety of players. The type of companies offering back office software platforms for charging stations include dedicated charging station management software providers and hardware providers.
“The number of connected charging points has grown significantly in the past year, and as long as the electric vehicle fleet continues to grow rapidly, the demand for connected charging stations will be steady,” said Adam Bjorkman, Berg Insight IoT Analyst.
Most of the connected charging points in Europe and North America are either in public or semi-public applications.
“The number of connected home charging stations is still relatively limited in both regions, but are expected to increase in parallel to the general trend of our homes becoming smarter,” Bjorkman said.