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The global electric vehicle charging station market grew from an estimated $1,645.6 million in 2015 and is expected to reach $29,683.3 million by 2022 growing at a CAGR of 51.7% during 2016 – 2022.

The global market is categorized into AC and DC charging stations based on the source of charging. DC charging stations are comparatively costlier than its AC counterpart, which is why the market share of AC charging station in terms of volume is much higher, as compared to that in terms of value. The demand for EV charging stations in public sector has been increasing.

Global AI in transportation market is projected to reach $3.5 billion by 2023.

The growth of the market is majorly driven by the development of autonomous vehicles and increasing focus towards reducing the operating cost of transportation.

Smart parking systems help the vehicle user to find the nearest parking space and provides information on the availability of parking slots in the parking area. The smart parking systems market includes sensors, real-time data and smart-phone-enabled automated payment systems that allow the users to reserve parking slot in advance.

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The global smart parking systems market is expected to witness a CAGR of 15.8% during the forecast period, to reach $4,800 million by 2023. The parking sensors have emerged as the largest segment in the global smart parking systems market. In 2016, Asia-Pacific was among the fastest growing markets, due to growing awareness of end-users about smart parking systems in the region.