A new report analysing the global vehicle to everything market has been issued and forecasts revenue generation to reach $62.7 billion by 2023.
The market will grow by 17.4% between 2018 and 2023.
Key findings of the vehicle to everything study include:
- Vehicle to cloud segment to be the fastest growing infrastructure component. The sector is expected to record a 27.3% growth through to 2023.
- Big data tools and advanced analytics to hold $12 billion share of the global market
- Vehicle to infotainment to record $25.7 billion in revenue generation, vehicle to pedestrian $7.4 billion
- 5G enabled infrastructure will account for over $4B in V2X system and solution market value by 2023
- Rising interest of the automobile sector to integrate solutions with applications in non-vehicle industries
The launch of the report follows an increase in partnerships between utility, automobile and EV charging solution companies in exploring the use of vehicle to grid (V2G) technologies for grid reliability.
Recently, Japanese utility Chubu Electric Power and automaker Toyota Tsusho Corporation partnered with Nuvve Corporation to implement a V2G pilot project.
Under the pilot, Nuvve provided its Grid Integrated Vehicle platform GIVe to transform electric vehicles into grid assets to ensure the reliability of the grid network. Read more...
Ecotricity, Gengame, EnAppSys, Newcastle University and Northern Powergrid have partnered to explore how gamification can be used to influence EV owners into using V2G technologies, ensuring grid reliability.
Smart Energy International will be hosting a webinar on V2Gs on 06 September 2016. Register.
Key questions to be answered in the webinar include:
- V2G – Measuring impacts on the smart grid
- Battery electric vehicles (BEV)
- Plug-in hybrids (PHEV)
- Exploring EV/ grid communication interfaces
- Utility demand response strategies (returning electricity to the grid/ throttling charge rates)
- Charging infrastructure