According to Research and Markets' report, the compound annual growth rate of the global vehicle to grid charger market reached 50.05% in the 2018-2022 period.
One trend in the market for vehicle to grid chargers is the rapid deployment of smart grids.
Smart grids include monitoring and data acquisition systems, smart meters and other communication networks.
This enables smart grids to provide the necessary platforms for vehicle grid infrastructure.
One driver of the market, according to the report, is better technological progress.
Electric vehicles are increasingly being adopted because of the need to reduce dependence on fossil fuels and reduce pollution, as well as incentives for governments to build the necessary infrastructure.
Moreover, the report notes, one of the big challenges for the market is high infrastructure costs.
Vehicle-to-grid services require a large number of charging and discharging facilities to enable batteries to reach their full potential.
The number of electric vehicles that offer vehicle-to-grid services makes it an expensive process.
Key players in the global market for vehicle to grid chargers include Drive Electric, ZMS Cable, hyundai mobis, OVO energy, and shell.
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