Electric Mobility Networks Market Size, Share, Growth Analysis, By Charging Infrastructure(Public Charging Stations, Private Charging Stations, Workplace Charging Stations), By Software and Services(Payment Processing, Energy Management, Charging Station Maintenance and Monitoring), By End-User(Commercial, Residential, Industrial), By Region - Industry Forecast 2024-2031

Electric Mobility Networks Market size was valued at USD 279.45 billion in 2019 and is poised to grow from USD 355.46 billion in 2023 to USD 2436.06 billion by 2031, growing at a CAGR of 27.2% in the forecast period (2024-2031).

The market for electric mobility networks is extremely competitive. Due to the presence of numerous small and large players, the market. The competitive landscape of the market is rapidly evolving as new companies enter the market and existing players expand their offerings. ChargePoint, EVBox, and ABB are well-established players in the electric vehicle charging infrastructure market, offering a variety of charging solutions for both public and private use. These businesses are expanding their product lines to include more advanced charging technologies, such as high-power chargers and battery swapping solutions. Furthermore, partnerships and collaborations have been formed by companies in the electric mobility networks market in order to accelerate the development of new technologies and expand their reach. Some charging infrastructure providers, for example, have collaborated with utilities to integrate their charging stations with the power grid, while others have collaborated with automakers to provide charging solutions to their customers. 'ChargePoint Inc.', 'EVBox Group', 'Enel X S.p.A.', 'ABB Ltd.', 'E.ON SE', 'Schneider Electric SE', 'Siemens AG', 'Tesla Inc.', 'ENGIE SA', 'Allego BV', 'Greenlots (Shell New Energies US LLC)', 'Blink Charging Co.', 'Liberty Inc. (Virgin Media Limited)', 'NewMotion B.V. (Shell New Energies US LLC)', 'Ionity GmbH (BMW Group, Daimler AG, Ford Motor Company, and Volkswagen AG)', 'Chargefox Pty Ltd.', 'Pod Point Ltd.', 'Innogy SE', 'Delta Electronics Inc.', 'The Mobility House GmbH'

Commitment of Automakers to Become Carbon Neutral to Drive Market Growth

Many governments around the world have put in place policies and initiatives to encourage the use of electric vehicles and the advancement of electric mobility networks. Some countries, for example, provide monetary incentives for purchasing EVs or implementing charging stations, whereas others have set targets for charging infrastructure deployment.

Asia Pacific dominated the electric mobility networks market in 2021, with a market size of USD 9.53 billion, and this position is expected to be maintained throughout the forecast period. The widespread use of electric vehicles in China fueled market expansion. According to the International Energy Agency (IEA), EV sales in China increased over the previous year. Furthermore, increasing penetration of electric vehicles in APAC emerging markets such as India, South Korea, Japan, and others is expected to boost market growth in the future.