EV Charger Cellular Connectivity Market Share

North America Market Statistics

North America EV charger cellular connectivity market is predicted to account for revenue share of around 47.8% by 2037. In addition, advanced telecommunications infrastructure in the region provides reliable and scalable cellular connectivity solutions for charging stations in urban and rural settings. Thus, the market is likely to surge and witness an upscaling growth over the foreseeable years.

Robust government initiatives, the high penetration of EVs in the U.S., and ongoing infrastructure development are all likely to create a significant opportunity for growth in the market. For instance, in April 2023, the government announced building EV infrastructure, bringing supply chains home, and unleashing unprecedented private sector investments. In addition, USD 100 billion has already been announced for battery manufacturing to have 50 percent of all new vehicle sales be electric by 2030.

The market in Canada is growing because of a strong commitment to sustainability and government incentives. The federal and provincial governments of Canada have enacted a range of policies, including tax rebates, grants, and significant investment in public charging infrastructure. For instance, in September 2024, the Minister of Energy and Natural Resources announced federal investments of $14.9 million for 20 projects that will install more than 3,000 EV chargers across Canada.

Asia Pacific Market Analysis

Asia Pacific is the most rapidly growing region in the EV charger cellular connectivity market, driven by extensive charging infrastructure and technological developments of IoT, 5G, and cloud-based services making charging even more efficient and user-friendly. In addition, it is highly growing by having lots of electric vehicles and the demand for intelligent, connected infrastructures. Moreover, the local government has been promoting stricter emissions regulations and investing in incentives for adopting EVs, thereby increasing the demand for advanced charging solutions with cellular connectivity to monitor and manage in real-time.

China's market improvements in 5G technology and IoT are further enhancing the efficiency and scalability of EV chargers. Moreover, its favorable ecosystem helps the market to penetrate. For instance, in May 2024, BEV penetration (25% in the first quarter of 2024) is rising rapidly because of low manufacturing costs, fair-to-generous government support, and abundant affordable products. Thus, is expected to lead the market during the forecast period.

While the India EV charger cellular connectivity market is still in its nascent stage, demand for connected and scalable charging solutions will grow along with urbanization requiring efficient charging networks. In addition, the players in the country aim to expand their EVs. For instance, in December 2023, it was published in the report of Bain & Company that by 2030, EVs may capture more than 40% of India's car market and also reach revenues above $100 billion.