The Strategist

Navigant Research Report on PEV And Its Charging Services


06/02/2015 - 07:30



The global market for PEVs and its charging services has been estimated to be worth a cool $11.3 billion in the coming years up to 2023 so it can be confidently said that there is a vast scale of opportunity in this sector. The report on this sector takes into account both residential and commercial sectors and other scenarios involved.



Boulder, Colorado – 13 May 2015 – The global market for plug-in electric vehicle (PEV) charging services and charging equipment sales, including global market forecasts for commercial and residential charging system unit sales and revenue from charging services through 2023 has been analyzed in a recent report from Navigant Research.
The commercial segment depends more on applicable business strategies and, in some regions, government policy whereas the rise in sales in the residential sector of the PEV charging market tends to grow alongside PEV sales. These differences in the two sectors aside, generation of revenue in both segments is expected to grow in the following years as the industry for electric vehicle supply equipment (EVSE) continues to expand to acquire an estimated net worth of $11.3 billion in recent years up to 2023.  According to the research by Navigant, the current phase in terms of residential charging is barely focused on the chargers on offer rather the focus is on lowering the price charged while a transaction occurs. At the same time, the commercial charging market is in a very unstable mode with experimentations going on various business models that can be implemented even including advertising and even giving out free charging incentives.
 
A major barricade preventing further growth in the commercial charging market is a lack of coordinated operating between different players involved, from the challenge of paying for network access to the incapability of stations to connect with each other across multiple networks, according to the report. Though the EVSE industry has made strides to resolve operative issues between different providers by adopting open standards, the issue still remains a point of focus, as it allows equipment to be centrally managed regardless of hardware and charging station information to be aggregated and shared with drivers regardless of software and systems.
 
The report, Electric Vehicle Charging Services, covers the residential and commercial charging market segments and analyzes the potential uptake of direct current (DC), alternating current (AC) and wireless electric vehicle charging equipment. Forecasts made in the reports have been divided up by segments (residential or commercial), region and also type of chargers involved. Forecasts of revenue from electricity demand and charging services are also included. A detailed summary of the report is available for download on the Navigant Research website free of charge.
 
About Navigant Research
Navigant Research handles forecasting and sizing of markets, competitive intelligence, assessing market demands for new products and projected growth scales, providing inputs on business planning, helping with technology transitions and strategies and also provides ratings companies within competitive environments in markets. Their aim is to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
                                             
About Navigant
Navigant is a global institution providing professional assistance and guidance by conducting exhaustive market research and providing expert consulting teams. Navigant’s focus is on combining data from expert industry analysts, needs of end users keeping in mind research on demands to be handled and a deep understanding of technologies involved. Navigant’s dedicated top level is always available to engage with clients and provide advisory services by allocation of business process management services. The firm combines deep technical expertise in Financial Advisory, Economics, Disputes and Investigations, and Management Consulting, with business practicality to assist clients’ needs in highly regulated industries, including Healthcare, Financial Services, Construction and Energy. More information on Navigant and its services can be found at navigant.com.




References:
http://www.businesswire.com/news/home/20150513005126/en#.VVsXBLmqqko