As carbon emissions and other harmful gases stemming from transportation have risen, the demand for electric vehicles has grown. As a result, the demand for an EV charging infrastructure in commercial and residential applications is on the rise. Furthermore, partnerships between car manufacturers and charging facilities providers are expected to grow as a subscription model is introduced by the latter group.
“According to SNS Insider, Electric Vehicle Charging Infrastructure Market Size was valued at US$ 19.2 BN in 2021 and it estimated to reach at US$ 127.11 Bn by 2028, with CAGR of 31% over the forecast period 2022-2028.”
Electric vehicle charging software and hardware are expected to change the way electric vehicle owners use and benefit from electric vehicle charging applications. Smart car API and charging networks precisely determine an electric vehicle’s charge time even before the car driver plugs the car into a station. Additionally, green energy is expected to play a significant role in both public and residential electric vehicle charging spaces. EV owners are majorly concerned about carbon emissions; companies are making rapid advancements in their charging technologies to address these concerns.