Video conferencing is a type of online meeting where two or more people can communicate with a live audio-video call. With a strong internet connection, participants can see, hear, and talk to each other in real-time, no matter where in the world they are.
The main impact of video conferencingfor a business is that it reduces costs and can improve collaboration. Firstly, a sophisticated video conferencing system will improve company video usage and overall collaboration instead of a simpler telepresence solution. Additionally, video conferencing can save millions in foregone travel expenses for large companies that expand across a country or even the globe.
Video Conferencing Market by Technology (VaaS, USB-VC, Room-based Codec System), Component, Deployment Mode, Organization Size, End-User (Education, IT & Comm., Healthcare, BFSI, Oil & Gas, Legal, Media) - Global Forecast to 2028
The global pandemic has changed the behavior of corporate working culture. The lockdown of major industries during the pandemic has forced the employees to work remotely. This has boosted the use of cloud-based video conferencing tools, such as Zoom and Microsoft Teams. Considering the safety of its employees, an increasing number of companies are opting for work from home. Also, it is found that this working culture has improved employee productivity due to less time for commuting, better work-life balance, and location independence.
Additionally, it is beneficial to the employers, which can cut electricity, office spaces, maintenance charges, office supplies, and other miscellaneous spendings. In April 2020, Tata Consultancy Services (TCS), an India-based IT service provider, announced its plan to allow 75% of employees, around 4.5 lakh employees, to work from home till 2025. Furthermore, Infosys, a major IT service provider, has permanently announced flexible work from home model.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key strategic developments by the leading participants in the Video Conferencing market over the last few years. The key video conferencing software players operating in the market are Zoom Video Communication, Inc. (U.S.), Microsoft Corporation (U.S.), Cisco Systems, Inc. (U.S.), Blue Jeans Network Inc. (Verizon) (U.S.), LogMeIn, Inc. (U.S.), Alphabet Inc. (U.S.), ON24, Inc. (U.S.), Dialpad, Inc. (U.S.), TeamViewer AG (Germany), Adobe (U.S.), Blackboard Inc. (U.S.), Vidyo, Inc. (U.S.).
The key players offering hardware in the market are Plantronics, Inc. (U.S.), Logitech (Switzerland), Huawei Investment & Holding Co., Ltd. (China), ZTE (China), Lifesize (U.S.), KEDACOM (China), Yealink Inc. (China), and Tely (U.S.).
Meticulous Research®— a leading global market research company, published a research report titled “Electric Vehicle Charging Stations Market by Charging Type (Level 1, Level 2, DCFC), Connection Type (Pantograph, Connector, Wireless), Component (Hardware, Software, Services), Mounting Type (Wall, Pedestal, and Ceiling) Vehicle Type, End-user, and Geography - Global Forecast to 2028”.
The electric vehicle charging stations marketis expected to grow at a CAGR of 26.4% by value from 2021 to reach $103.6 billion by 2028. By volume, this market is expected to grow at a CAGR of 31.1% from 2021 to reach 11.6 million units by 2028. This market is majorly driven by factors such as government initiatives to drive the adoption of electric vehicles and associated infrastructure, rising demand for electric vehicle fast-charging infrastructure, increasing prevalence of range anxiety, and increasing deployment of EVs by shared mobility operators. Moreover, increasing R&D in V2G technology, increasing adoption of electric mobility in emerging economies, and growing deployment of charging stations by retail MNCs provide significant opportunities in this market. However, the high initial cost of installation obstructs the growth of this market to some extent. High electricity tariffs in developing economies is a major challenge for the growth of the electric vehicle charging stations market.
The market is segmented based on charging type, connection type, vehicle type, mounting type, component, end user, and geography. The study also evaluates industry competitors and analyzes the market at the country level.
Based on charging type, the electric vehicle charging stations market is mainly segmented into Level 2, Level1, and DC fast charging. The Level 2 segment accounted for the largest share of the electric vehicle charging stations market in 2020 by both value and volume. The large share of this segment is mainly attributed to government funding and incentives for the installation of Level 2 charging stations, lower installation cost compared to DC fast-charging stations, and greater efficiency in terms of less charging time than Level 1 charging stations. However, the DC fast charging segment is expected to witness significant growth by both value and volume, as DC fast chargers provide faster charging as compared to Level 1 & Level 2 charging stations.
Based on connection type, the electric vehicle charging stations market is segmented into pantograph, connectors, and wireless EV charging. The connectors segment accounted for the largest share of the electric vehicle charging stations market in 2020. The large share of this segment is mainly attributed to government and automakers initiatives to expand the DC fast-charging station infrastructure, increasing investment by stakeholders of electric mobility in emerging economies for developing EV charging infrastructure, and increasing collaboration between electric vehicle charging station providers and utility companies and fuel station operators to deploy charging stations for electric vehicles. However, the wireless EV charging segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the standardization of wireless EV charging systems leading to increased R&D and pilot projects for deploying wireless EV charging stations.
Based on component, the electric vehicle charging stations market is segmented into hardware, software, and services. The hardware segment accounted for the largest share of the electric vehicle charging stations market in 2020. The large share of this segment is mainly attributed to infrastructural developments for supporting the transition to electric mobility, increasing demand for EV charging stations in developing and developed economies, and attractive fiscal and non-fiscal incentive plans for setting up manufacturing units of EV charging stations and related components. However, the software segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to increasing software adoption to overcome the optimum power challenges and optimize charging station operation.
Based on mounting type, the electric vehicle charging stations market is segmented into wall mount, pedestal mount, and ceiling mount. The wall mount segment accounted for the largest share of the electric vehicle charging stations market in 2020. The large share of this segment is mainly attributed to the cost-effectiveness of the wall mount chargers, easy installation process, and various fiscal and non-fiscal incentives to private property owners and management companies for the development of EV charging infrastructure. However, the pedestal mount segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the increasing deployment of pedestal-mounted EV chargers by real estate property owners and managers.
Based on vehicle type, the electric vehicle charging stations market is segmented into passenger cars, light commercial vehicles, heavy commercial vehicles, and two-wheelers & scooters. The passenger cars segment accounted for the largest share of the electric vehicle charging stations market in 2020. The large share of this segment is mainly attributed to the increasing favorable government policies and subsidies for promoting the adoption of electric vehicles, growing awareness regarding the role of electric vehicles in reducing emissions, increasing fuel prices, and proactive participation by automotive OEMs in producing electric passenger vehicles. However, the light commercial vehicle segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to stringent government rules and regulations towards vehicle emissions.
Based on end user, the electric vehicle charging stations market is segmented into commercial and residential EV charging stations. The commercial EV charging stations segment accounted for the largest share of the electric vehicle charging stations market in 2020. The large share of this segment is mainly attributed to the growing number of EV charging stations in public places like shopping malls, restaurants, commercial buildings, parking areas, railway stations, and airports; and government initiatives for the installation of publicly accessible charging stations. Moreover, this segment is expected to grow at the highest CAGR during the forecast period.
Geographically, the Asia-Pacific region accounted for the largest share of the electric vehicle charging stations market in 2020 by value as well as volume. The large share of this market is mainly attributed to the growing demand for electric vehicles in countries such as China and Japan, rising government initiatives to reduce greenhouse gas emissions, which, in turn, is poised to increase the adoption of electric vehicle and associated charging infrastructure, and ongoing investments by various countries for robust charging infrastructure used in shopping malls, public buildings, and parking facilities.
The key players operating in the electric vehicle charging stations market are Webasto Group (Germany), EVBox Group (Netherlands), Electrify America LLC. (U.S.), BP p.l.c. (U.K.), Royal Dutch Shell PLC (Netherlands), Evgo Services LLC. (U.S.), Connected Kerb Limited (U.K.), Wanbang Xingxing Charging Technology Co., Ltd. (China), Électricité de France (France), Tesla, Inc. (U.S.), Hangzhou Aoneng Power Supply Equipment Co., Ltd. (China), EV Charging Installers of America LLC (U.S.), Addénergie Technologies, Inc. (Canada), EV Connect, Inc. (U.S.), and ChargePoint Holdings, Inc. (U.S.).
Key Questions Answered in the Report-
Which are the high-growth market segments in terms of charging type, connection type, vehicle type, mounting type, component, end user, and geography?
What is the historical market size for electric vehicle charging stations across the globe?
What are the market forecasts and estimates for the period 2021-2028?
What are the major drivers, restraints, opportunities, and challenges in the electric vehicle charging stations market?
Who are the major players in the market, and what are their market shares?
Who are the major players in various countries, and what are their market shares?
How is the competitive landscape for the electric vehicle charging stations market?
What are the recent developments in the electric vehicle charging stations market?
What are the different strategies adopted by the major players in the market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the electric vehicle charging stations market, and how do they compete with other players?
The rising popularity of live streaming technology for better brand engagement and reach to consumers, the surging popularity of e-sports and video games, growing preference for live streaming over social posts, and increasing adoption of smartphones coupled with faster internet are expected to drive the growth of the live streaming market.
Additionally, the growing need to optimize network bandwidth and increase the consumer base for live streamingcontent further contributes to market growth. Furthermore, the incorporation of advanced technologies in the digital media industry is the new trend in the live streaming market. However, fake traffic on live streaming sites is creating new challenges for the overall market growth. Also, connectivity and production issues may restraint the growth of this market in the approaching years to some extent.
According to a new market research report titled, “Live Streaming Market by Component (Platform, Services), Offering Model (B2B, B2C), Streaming Type (Audio, Video, Game), Vertical (Media & Entertainment, Education, Sports & Gaming, Government, Fitness), and Geography – Global Forecast to 2028,” published by Meticulous Research®, the live streaming market is expected to grow at a CAGR of 22.4% from 2021 to 2028 to reach $4.26 billion by 2028.
The COVID-19 disrupted people’s work lives, fueling significant growth in people seeking live streaming, particularly in emerging markets. The pandemic transformed live video technology into nothing short of a necessity. Healthcare, business continuity, public safety, and mental health all now depend on it. During the pandemic, live streaming was used as a workaround to isolation measures in various ways. Religious services, virtual events, and statewide town halls were all broadcasted over the Internet due to widespread stay-at-home orders. Many of these are just extensions of traditional broadcasts that benefited from the ease of use of live streaming.
Live streaming platforms, such as Zoom, Skype, Amazon Chime, BlueJeans, and Cisco WebEx, were popular in business settings. Google Hangouts, Facetime, and Houseparty were also common for personal communications during this pandemic.
But, safety concerns have hit the news cycle. Incidents of ‘Zoombombing,’ during which unintended attendees join private meetings, have revealed why many enterprises choose to deploy streaming infrastructure in-house. Moreover, AI added value to video apps with voice-to-text transcription, natural language processing, and balanced sound and computer vision.
Several organizations that leveraged streaming technology for telemedicine proved instrumental in efforts to flatten the COVID-19 curve. Virtual doctor visits finally went mainstream, while live video sharing tools helped contain the spread. Another company that utilized telemedicine technology to ease the burden of social distancing was AngelEye Health. The clinical communication platform allowed families to watch their newborn baby while being cared for in the neonatal intensive care unit (NICU).
Several organizations focused on digital technologies to build a brand and showcase new services and products for producing low-cost hardware aimed at the broadcaster with live streaming at the forefront. For instance, in 2021, Innovative Systems, Inc. (U.S.) partnered with Midwest Video Solutions (U.S.) to deliver a fully hosted end‐to‐end streaming video and headend service. Also, in 2021, FilmMyMatch (U.S.) signed an agreement with JOYMO (Norway) to deliver live streaming, video management, and production services to clients across the U.K.
Quick Buy – Live Streaming Market Research Report:
The overall live streaming market is segmented on the basis of component [(platform, services (subscription services, advertisement, and video production & content creation services)], offering model (business-to-business and business-to-consumer), streaming type (audio streaming, video streaming, and game streaming), vertical (enterprises, media & entertainment, education & e-learning industry, sports & gaming industry, government, fitness industry, religious organizations, and others), and geography. The study also evaluates industry competitors and analyses the market at the country and region levels.
Based on component, the services segment is estimated to account for the largest share of the overall live streaming market in 2021. The large share of this segment is primarily driven by the growing demand for new installation and integration of live-streaming platforms; the need for professional post-production support, up-gradation, and maintenance to help deliver content based on client specifications and provide a personalized experience to viewers; and surging demand for customer support, content creation services, and subscription services.
Based on offering model, the business-to-consumer segment is estimated to account for the largest share of the overall live streaming market in 2021. The large share of this segment is primarily driven by the rising adoption of smart devices coupled with faster internet penetration, increasing need for transmission of live content on the Internet for better brand engagement, and a surging number of social media platforms & s-commerce sites.
Based on streaming type, the video streaming segment is estimated to account for the largest share of the overall live streaming market in 2021. The large share of this segment is primarily driven by the growing use of influencers to drive new applications and attract new customers for branding and marketing, growing adoption of cloud-based solutions to increase the reach of live video content, and rising customer online data consumption and surfing behavior. However, the game streaming segment is slated to grow at the highest CAGR during the forecast period.
Based on vertical, the media & entertainment sector is estimated to account for the largest share of the overall live streaming market in 2021. The large share of this segment is primarily driven by the growing popularity of online live video streaming, rising technological advancements, increasing consumer base for live streaming content, growing adoption of cloud-based video streaming solutions, and use of AI for increasing the reach of video content.
Based on geography, the Asia-Pacific region is estimated to account for the largest share of the overall live streaming market in 2021. The large share of this region is primarily attributed to the presence of major live streaming players along with several emerging startups in the region, surging adoption of live-streaming platforms for better brand engagement, increasing consumer base for the live streaming, and rising focus on digitalization with technological advancement in cloud computing, AI, and 5G.
The report also includes an extensive assessment of key strategies adopted by leading market participants over the past four years. The live streaming market witnessed a surge in the number of partnerships & agreements in recent years, enabling companies to broaden their product portfolios in live streaming. For instance, in 2021, Tiktok (U.S.) partnered with UFC (U.S.) to deliver exclusive live-stream content on its platform. In 2021, Scienjoy Holding Corporation (China) partnered with the Global Friendship Exchange Foundation to establish a live streaming studio and non-fungible token (NFT) art gallery in New York.
The global live streaming market is fragmented in nature. The major players operating in this market are Flux Broadcast (U.K.), Facebook Inc. (Instagram) (U.S.), Dacast (U.S.), Twitch Interactive, Inc. (U.S.), IBM Corporation (U.S.), Huya Inc. (China), Stream Hatchet SLU (Spain), Empire Video Productions, LLC (Florida), Afreecatv Corp. (South Korea), Streamshark (Australia), Dailymotion (France), Vimeo, Inc. (U.S.), Tiktok (U.S.), EventStreaming.TV (WaveFX Ltd.) (U.K.), Pluto Inc. (U.S.), Boxcast (U.S.), VosCast (U.S.), Uplynk (U.S.), and Wowza (U.S.), among others.
To gain more insights into the market with a detailed table of content and figures, click here:
Video Conferencing Market by Technology (VaaS, USB-VC, Room-based Codec System), Component, Deployment Mode, Organization Size, End-User (Education, IT & Comm., Healthcare, BFSI, Oil & Gas, Legal, Media)—Global Forecast to 2028
Digital Transformation Market by Technology (IoT, Cloud Computing, Big Data Analytics, Artificial Intelligence, Cybersecurity, Mobility Solutions, AR/VR, Robotic Process Automation, Others), End-use Industry, Industry Size, Process - Global Forecast to 2025
Meticulous Research® –a leading
global market research company published a research report titled “Biopesticide
Market by Product Type (Bioinsecticides, Bioherbicides, Biofungicides), Origin
(Microbial, Biochemical), Formulation (Liquid, Dry), Mode of Application
(Foliar Spray, Seed Treatment), Crop Type, and Geography– Global Forecast to
2028.”
According to this latest publication from
Meticulous Research®, the global biopesticides
marketis expected to grow
at a CAGR of 11.7% from 2021 to 2028 to reach $9.6 billion by 2028. Also, in
terms of volume, the biopesticides market is expected to record a CAGR of 9.6%
from 2021 to 2028 to reach 558.4 KT by 2028.
The growth of this market is driven by factors
including rising investment from leading crop protection companies, increasing
awareness about environmental safety, higher crop quality and yield with the
use of biopesticides, increasing organic farming & demand for organic food,
and rising government initiatives. Moreover, the huge agricultural diversity
and arable land in emerging countries, including Asia-Pacific and Latin
America, are expected to offer significant growth opportunities for players in
the biopesticides market. However, the factors such as lack of awareness &
low adoption rate of biopesticides and low shelf-life & inconsistent
performance are expected to hamper the growth of this market to some extent.
The global biopesticides market study presents
historical market data in terms of value and volume (2019 and 2020), estimated
current data (2021), and forecasts for 2028. The market is segmented based on
product type, origin, formulation, mode of application, crop types, and
geography. The study also evaluates industry competitors and analyses the
market at a country level.
Based on product type, the biopesticides
market is segmented into bioinsecticides, bioherbicides, biofungicides,
bionematicides, and other biopesticides. The bioinsecticides segment is
estimated to account for the largest share of the global biopesticides market
in 2021. Moreover, this segment is further expected to remain the largest
product type through 2028 in the biopesticides market. The growth of this
segment is primarily attributed to the growing awareness regarding the
environmental hazards of chemical insecticides, a high prevalence of
insect-based infections, and the increasing number of insecticide-resistant
pests.
Based on origin, the biopesticides
market is categorized into microbial, biochemical, and plant-incorporated
protectants. The microbial biopesticides segment is estimated to account for
the largest share of the global biopesticides market in 2021. Moreover, this
segment is expected to record the highest CAGR during the forecast period, as
microbial origin pesticides are composed of naturally occurring viruses, fungi,
or bacteria. They are mostly preferred for organic and residue-free food
production. Further, factors such as the higher advantage of selectivity; high
effectivity; no adverse effects on humans, plants, and animals; and ease of use
are driving the growth of the microbial biopesticides market across the globe.
Based on formulation, the global
biopesticides market is segmented into liquid and dry biopesticides. The liquid
biopesticides segment is estimated to account for the larger share of the
global biopesticides market in 2021. Moreover, this segment is further expected
to record the highest CAGR during the forecast period. This segment's larger
share and fastest growth are mainly attributed to the liquid biopesticides’
longer duration of effectiveness (up to 6 months) than dry biopesticides (up to
3 months) and their better performance in disease control.
The foliar spray segment is estimated to account
for the largest share of the global biopesticides market in 2021. This
segment’s large share is mainly attributed to the uniform distribution of
biochemicals, highest biopesticide use efficiency, and minimum to no wastage of
biopesticides achieved using the foliar spray technique.
Biopesticides help improve crop quality and
marketability and are widely used to protect fruits & vegetables, cereals
& grains, oilseeds & pulses, and other crops. The fruits &
vegetables segment is estimated to account for the largest share of the global
biopesticides market in 2021. The large share of this segment is mainly
attributed to the increasing fruit & vegetable production across the globe,
growth in organic farming globally, and the growing number of diseases
affecting fruit & vegetable crops.
Based on geography, the global
biopesticides market is divided into North America, Europe, Asia-Pacific, Latin
America, and the Middle East & Africa. North America is estimated to
account for the largest share of the global biopesticides market in 2021,
followed by Europe and Asia-Pacific. The largest share of this market is mainly
attributed to the increasing concerns over harmful chemicals on the
environment, growing demand for organic food, and the presence of a streamlined
registration process. Additionally, the presence of several key players in the
region and the growing adoption of eco-friendly farming methods by farmers
further supports the growth of the biopesticides market in North America.
The key players profiled in the global
biopesticides market research report are Bayer AG (Germany), Marrone Bio
Innovations, Inc. (U.S.), Certis USA L.L.C. (A Part of Mitsui & Co.)
(U.S.), the Dow Chemical Company (Part of Dow Inc.) (U.S.), Andermatt Biocontol
AG (Switzerland), BASF SE (Germany), Som Phytopharma India Limited (India),
Syngenta AG (Part of ChemChina) (Switzerland), International Panaacea Ltd
(IPL)(India), The Stockton (STK) Group (Israel), BioWorks, Inc. (U.S.),
Novozymes A/S (Denmark), Koppert B.V. (Netherlands), W. Neudorff GmbH KG
(Germany), InVivo Group (France), Valent U.S.A. LLC (part of Sumitomo Chemical
Co., Ltd.) (U.S.), FMC Corporation (U.S.), and Gowan Company, LLC. (U.S.),
among others.
Key questions answered in the report-
Which
are the high-growth market segments in terms of product type, origin,
formulation, mode of application, crop type, and region/countries?
What
was the historical market for biopesticides across the globe?
What
are the market forecasts and estimates for the period 2021-2028?
What
are the major drivers, restraints, opportunities, and challenges in the
global biopesticides market?
Who
are the major players in the global biopesticides market?
How
is the competitive landscape, and who are the market leaders in the global
biopesticides market?
What
are the recent developments in the global biopesticides market?
What
are the different strategies adopted by the major players in the global biopesticides
market?
What
are the geographical trends and high growth regions/ countries?
Who
are the local emerging players in the global biopesticides market, and how
do they compete with the global players?
Video conferencing is a type of online meeting where two or more people can communicate with a live audio-video call. With a strong internet connection, participants can see, hear, and talk to each other in real-time, no matter where in the world they are.
The main impact of video conferencingfor a business is that it reduces costs and can improve collaboration. Firstly, a sophisticated video conferencing system will improve company video usage and overall collaboration instead of a simpler telepresence solution. Additionally, video conferencing can save millions in foregone travel expenses for large companies that expand across a country or even the globe.
Video Conferencing Market by Technology (VaaS, USB-VC, Room-based Codec System), Component, Deployment Mode, Organization Size, End-User (Education, IT & Comm., Healthcare, BFSI, Oil & Gas, Legal, Media) - Global Forecast to 2028
The global pandemic has changed the behavior of corporate working culture. The lockdown of major industries during the pandemic has forced the employees to work remotely. This has boosted the use of cloud-based video conferencing tools, such as Zoom and Microsoft Teams. Considering the safety of its employees, an increasing number of companies are opting for work from home. Also, it is found that this working culture has improved employee productivity due to less time for commuting, better work-life balance, and location independence.
Additionally, it is beneficial to the employers, which can cut electricity, office spaces, maintenance charges, office supplies, and other miscellaneous spendings. In April 2020, Tata Consultancy Services (TCS), an India-based IT service provider, announced its plan to allow 75% of employees, around 4.5 lakh employees, to work from home till 2025. Furthermore, Infosys, a major IT service provider, has permanently announced flexible work from home model.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key strategic developments by the leading participants in the Video Conferencing market over the last few years. The key video conferencing software players operating in the market are Zoom Video Communication, Inc. (U.S.), Microsoft Corporation (U.S.), Cisco Systems, Inc. (U.S.), Blue Jeans Network Inc. (Verizon) (U.S.), LogMeIn, Inc. (U.S.), Alphabet Inc. (U.S.), ON24, Inc. (U.S.), Dialpad, Inc. (U.S.), TeamViewer AG (Germany), Adobe (U.S.), Blackboard Inc. (U.S.), Vidyo, Inc. (U.S.).
The key players offering hardware in the market are Plantronics, Inc. (U.S.), Logitech (Switzerland), Huawei Investment & Holding Co., Ltd. (China), ZTE (China), Lifesize (U.S.), KEDACOM (China), Yealink Inc. (China), and Tely (U.S.).
Meticulous Research®— a leading global market research
company, published a research report titled “Electric Vehicle Charging Stations
Market by Charging Type (Level 1, Level 2, DCFC), Connection Type (Pantograph,
Connector, Wireless), Component (Hardware, Software, Services), Mounting Type
(Wall, Pedestal, and Ceiling) Vehicle Type, End-user, and Geography -Global Forecast to 2028”.
The electric
vehicle charging stations marketis expected to grow at a CAGR of 26.4%
by value from 2021 to reach $103.6 billion by 2028. By volume, this market is
expected to grow at a CAGR of 31.1% from 2021 to reach 11.6 million units by
2028. This market is majorly driven by factors such as government initiatives
to drive the adoption of electric vehicles and associated infrastructure,
rising demand for electric vehicle fast-charging infrastructure, increasing
prevalence of range anxiety, and increasing deployment of EVs by shared
mobility operators. Moreover, increasing R&D in V2G technology, increasing
adoption of electric mobility in emerging economies, and growing deployment of
charging stations by retail MNCs provide significant opportunities in this
market. However, the high initial cost of installation obstructs the growth of
this market to some extent. High electricity tariffs in developing economies is
a major challenge for the growth of the electric vehicle charging stations
market.
The market is segmented based on charging type, connection
type, vehicle type, mounting type, component, end user, and geography. The
study also evaluates industry competitors and analyzes the market at the
country level.
Based on charging type, the electric vehicle charging
stations market is mainly segmented into Level 2, Level1, and DC fast charging.
The Level 2 segment accounted for the largest share of the electric vehicle
charging stations market in 2020 by both value and volume. The large share of
this segment is mainly attributed to government funding and incentives for the
installation of Level 2 charging stations, lower installation cost compared to
DC fast-charging stations, and greater efficiency in terms of less charging
time than Level 1 charging stations. However, the DC fast charging segment is
expected to witness significant growth by both value and volume, as DC fast
chargers provide faster charging as compared to Level 1 & Level 2 charging
stations.
Based on connection type, the electric vehicle charging
stations market is segmented into pantograph, connectors, and wireless EV
charging. The connectors segment accounted for the largest share of the
electric vehicle charging stations market in 2020. The large share of this
segment is mainly attributed to government and automakers initiatives to expand
the DC fast-charging station infrastructure, increasing investment by
stakeholders of electric mobility in emerging economies for developing EV
charging infrastructure, and increasing collaboration between electric vehicle
charging station providers and utility companies and fuel station operators to
deploy charging stations for electric vehicles. However, the wireless EV
charging segment is expected to grow at the highest CAGR during the forecast
period. The rapid growth of this segment is mainly attributed to the
standardization of wireless EV charging systems leading to increased R&D
and pilot projects for deploying wireless EV charging stations.
Based on component, the electric vehicle charging stations
market is segmented into hardware, software, and services. The hardware segment
accounted for the largest share of the electric vehicle charging stations
market in 2020. The large share of this segment is mainly attributed to
infrastructural developments for supporting the transition to electric
mobility, increasing demand for EV charging stations in developing and
developed economies, and attractive fiscal and non-fiscal incentive plans for
setting up manufacturing units of EV charging stations and related components.
However, the software segment is expected to grow at the highest CAGR during
the forecast period. The rapid growth of this segment is mainly attributed to
increasing software adoption to overcome the optimum power challenges and
optimize charging station operation.
Based on mounting type, the electric vehicle charging
stations market is segmented into wall mount, pedestal mount, and ceiling
mount. The wall mount segment accounted for the largest share of the electric
vehicle charging stations market in 2020. The large share of this segment is
mainly attributed to the cost-effectiveness of the wall mount chargers, easy
installation process, and various fiscal and non-fiscal incentives to private
property owners and management companies for the development of EV charging
infrastructure. However, the pedestal mount segment is expected to grow at the
highest CAGR during the forecast period. The rapid growth of this segment is
mainly attributed to the increasing deployment of pedestal-mounted EV chargers
by real estate property owners and managers.
Based on vehicle type, the electric vehicle charging
stations market is segmented into passenger cars, light commercial vehicles,
heavy commercial vehicles, and two-wheelers & scooters. The passenger cars
segment accounted for the largest share of the electric vehicle charging
stations market in 2020. The large share of this segment is mainly attributed
to the increasing favorable government policies and subsidies for promoting the
adoption of electric vehicles, growing awareness regarding the role of electric
vehicles in reducing emissions, increasing fuel prices, and proactive
participation by automotive OEMs in producing electric passenger vehicles.
However, the light commercial vehicle segment is expected to grow at the
highest CAGR during the forecast period. The rapid growth of this segment is
mainly attributed to stringent government rules and regulations towards vehicle
emissions.
Based on end user, the electric vehicle charging stations
market is segmented into commercial and residential EV charging stations. The
commercial EV charging stations segment accounted for the largest share of the
electric vehicle charging stations market in 2020. The large share of this
segment is mainly attributed to the growing number of EV charging stations in
public places like shopping malls, restaurants, commercial buildings, parking
areas, railway stations, and airports; and government initiatives for the
installation of publicly accessible charging stations. Moreover, this segment
is expected to grow at the highest CAGR during the forecast period.
Geographically, the Asia-Pacific region accounted for the
largest share of the electric vehicle charging stations market in 2020 by value
as well as volume. The large share of this market is mainly attributed to the
growing demand for electric vehicles in countries such as China and Japan,
rising government initiatives to reduce greenhouse gas emissions, which, in
turn, is poised to increase the adoption of electric vehicle and associated
charging infrastructure, and ongoing investments by various countries for
robust charging infrastructure used in shopping malls, public buildings, and
parking facilities.
The key players operating in the electric vehicle charging
stations market are Webasto Group (Germany), EVBox Group (Netherlands),
Electrify America LLC. (U.S.), BP p.l.c. (U.K.), Royal Dutch Shell PLC
(Netherlands), Evgo Services LLC. (U.S.), Connected Kerb Limited (U.K.),
Wanbang Xingxing Charging Technology Co., Ltd. (China), Électricité de France
(France), Tesla, Inc. (U.S.), Hangzhou Aoneng Power Supply Equipment Co., Ltd.
(China), EV Charging Installers of America LLC (U.S.), Addénergie Technologies,
Inc. (Canada), EV Connect, Inc. (U.S.), and ChargePoint Holdings, Inc. (U.S.).
Key Questions Answered in the Report-
Which are the high-growth market segments in terms of
charging type, connection type, vehicle type, mounting type, component, end
user, and geography?
What is the historical market size for electric vehicle
charging stations across the globe?
What are the market forecasts and estimates for the period
2021-2028?
What are the major drivers, restraints, opportunities, and
challenges in the electric vehicle charging stations market?
Who are the major players in the market, and what are their
market shares?
Who are the major players in various countries, and what are
their market shares?
How is the competitive landscape for the electric vehicle
charging stations market?
What are the recent developments in the electric vehicle
charging stations market?
What are the different strategies adopted by the major
players in the market?
What are the key geographic trends, and which are the
high-growth countries?
Who are the local emerging players in the electric vehicle
charging stations market, and how do they compete with other players?
