Smart EV Charger Market Growth Drivers, Challenges and Opportunities

Smart EV Charger Market Consumer Behavior, Demand and Forecast

The smart EV charger market size is expected to grow from USD 45.91 billion in 2025 to USD 208.35 billion by 2034, with a CAGR of 18.3% throughout the forecast period from 2025 to 2034.

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Introduction

The smart EV charger market is an integral sector of the electric vehicle industry. This industry deals in manufacturing and distribution of smart EV chargers across the world. There are various types of chargers developed in this sector consisting of AC chargers, DC chargers, wireless chargers and some others. These chargers are available in several power modules comprising of low power (22 kW), medium power (23-149 kW), high power (150 kW). It finds applications in numerous end-user sector including residential, commercial and public. The rise in number of EV charging stations across the world has boosted the industrial expansion. This market is expected to rise significantly with the growth of the automotive sector in different parts of the world.

• According to the U.S. Department of Energy, around 57482 public EV charging stations were installed in U.S. during 2022 that increased to 68475 in 2023.

Highlights of the Smart EV Charger Market

• North America held the dominant share of the smart EV charger market due to the rising government investment for developing the EV charging infrastructure in this region.
• Europe is expected to grow with a significant CAGR due to the growing sales of EVs in this region.
• The DC chargers segment dominated the market due to the increased consumer preference towards fast charging solutions.
• The lower power segment led the market due to the rapid adoption of EVs in different parts of the world.

Smart EV Charger: Investment and Stats

• According to the U.S. Department of Transportation, in August 2024, the government of U.S. announced to invest around US$ 521 million for developing the EV charging infrastructure across the country.
• In September 2024, the government of India announced to invest around Rs 2000 crores for installing EV chargers in different parts of the country.
• According to the ACEA, around 8.8 million charging points are required to be installed in Europe by 2030.
• According to the International Energy Agency, around 4300000 PHEVs were sold globally in 2023.

Industry Leader Announcement

In August 2024, Martin Sander, a brand board member for sales, marketing and after sales at the Volkswagen announced that,” Our primary goal is to inspire as many customers as possible to switch to electric mobility. With this in mind, it is essential to simplify access to charging and energy products and reduce charging costs. Volkswagen is the only car manufacturer in Europe to offer this range of charging and energy products - and all from a single source. This ecosystem includes the new Charger 2, Volkswagen Naturstrom Flex, a smart charging app, a solar power system, and access to a public charging network with 770,000 charge points, enabling people to seamlessly integrate e-mobility into their daily lives.”

Competitive Landscape

The smart EV charger market is a fragmented industry with the presence of several dominating players. Some of the prominent companies in this industry comprises of Eaton, Wallbox, Zaptec, AeroVironment, Tesla, EVBox, Tritium, Alfen, ChargePoint, Siemens, ABB and some others. These market players are constantly engaged in developing smart EV chargers and adopting several strategies to sustain their dominant position in this industry.

• According to the annual report of ChargePoint, the revenue of the company in 2022 was US$ 79341 thousand that increased to US$ 152827 thousand in 2023.

Smart Ev Charger Market Segmentation

By Charger Type

• AC Chargers
• DC Chargers
• Wireless Chargers

By Charging Power

• Low Power (22 kW)
• Medium Power (23-149 kW)
• High Power (150 kW)

By Application

• Residential
• Commercial
• Public

By Connectivity

• Wi-Fi Enabled
• Bluetooth Enabled
• Other Connectivity Features

By Additional Features

• Energy Management Capabilities
• Payment Integration
• Voice Control

By Region

• North America
• Europe
• South America
• Asia Pacific
• Middle East and Africa