The global pandemic has changed many different aspects of business. Some companies were forced to cease while others had to slow down operations. Amongst this instability, the eMobility industry saw investments of $1.53 billion in Q1 of 2020. So, what will the near future of the mobility industry look like?
8th of September marked the second edition of REVOLUTION Digital, one of Europe’s leading eMobility events. It was a great way to spend our day and find out all about insights, trends and innovations within the eMobility market. In three hours, we had the chance to hear from industry leaders discuss about the near future of the eMobility market and what it’s going to entail.
People from 62 different countries around the world joined to see Roger Atkins and Angelika Berger-Sodian open the show, and Everon was present to watch it all. Here are our key takeaways.
The future of eMobility is not set in stone. There are still many different players and solutions emerging and establishing themselves in the market. Looking at what is happening within the industry, the near future of eMobility will be influenced by:
Governments and policy makers
In order to achieve global net zero carbon footprint systemic change must be achieved and this requires policy driven actions. Governments and policy makers have the power to lead innovation within the industry. There is still a worldwide need for more policies to support EV adoption, as well as funding to be able to support the expansion of the industry. Although many steps have been taken, even more are required in order to able to achieve a future with zero emissions.
The need for infrastructure to support EV an mass adoption
As we currently stand, infrastructure is set up to support existing electric vehicles and their needs. But as adoption will rise so will the need for more infrastructure. With more than 500 different electric vehicle models entering the market in 2025, adoption is predicted to account for 10% of all vehicles sold. This means that upgrades to EV infrastructure are inevitable and that there still are huge opportunities for companies to expand on their charging networks.
Collaboration amongst industry players
In order to consolidate the eMobility market, collaboration amongst industry players is vital. Different technologies and solutions have to come together and work towards the same goal. As the industry stands, more and more players are starting to partner up in order to be able to deliver a seamless integrated solution to customers. This can be clearly seen in the market where OEMs have started to work in close collaboration with utility companies and electric vehicle charging stations manufacturers. This indicates that the eMobility industry is still expanding and that there are still many opportunities to join in.
“Every technology has the niche or has the application where it can perform best.” -Jorgo Chatzimarkakis, Chief Executive Officer Hydrogen Europe.
It is a very exciting time to be a part of the eMobility industry. As adoption of EVs continues to rise, more solutions are going to be required within the eMobility market in order to satisfy consumer needs. In 2019, the global electric vehicle market was valued at $162.34 billion this number is projected to rise to $802.81 billion by 2027.
In order to make sure that worldwide zero carbon footprint is achieved, the future of eMobility has to be inclusive. A lot of opportunities exist for both established and emerging players in the industry. The time has come to consolidate and expand the market in order to anticipate the rise in adoption that will occur. Don’t miss out on this opportunity. The time to join is now!
Want to learn more? This and much more are available on the REVOLUTION YouTube channel. Revolution does not end there! Stay tuned for our next big announcement in December.