How is IoT Unlocking the Future Growth of the EV Charging Industry?

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The EV charging stations are connected devices and implemented with several third-party service providers such as energy suppliers, e-MSPs, and charge point operators, unlike the non-networked gasoline fuel stations.

The number of Electric Vehicle (EV) users is increasing hugely on national and international levels. The recent data by Statista has shown that around 767k units of EV have been sold in 2022, and by 2027 the EV market unit sales in the area will reach up to 2131k. Furthermore, in 2022-2027, the US EV market will increase by 23.17%, hence, resulting in a market volume or revenue of nearly $139.10 billion.