Revenues from electric vehicle charging services expected to reach US$2.9 billion annually by 2023, says Navigant

The market for plug-in electric vehicle (PEV) charging equipment (also known as electric vehicle supply equipment, or EVSE) is expanding, while experiencing predictable growing pains. With the number of PEVs in use projected to reach 12 million globally by 2023, the market for EV charging services is likely to continue to evolve to respond to growing demand. According to a new report from Navigant Research, worldwide revenues from charging services is expected to grow from US$152.6 million annually in 2015 to US$2.9 billion by 2023.



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