MarketsandMarkets has released 360 Quadrant for the best electric vehicle charging station to help users select the station according to their requirements. 360 quadrants are created post-analysis of vendors based on product portfolios and business strategies. They will be updated every six months based on market and regional analysis as well as developments in the electric vehicle charging station industry. Out of 70 parameters, the top criteria for company evaluation were charging speed, customizability, energy efficiency, enhanced safety systems, and open protocol charging networks.
An electric vehicle charging station is a tool used to recharge electric vehicles and plug-in hybrid electric vehicles. These charging stations are in demand with the growing use of electric vehicles worldwide. There are numerous features like enhanced safety systems, energy efficiency, and open protocol charging networks offered by electric vehicle charging stations. These stations use AC and DC power for residential and commercial applications. Residential is built for single or family homes, whereas commercial is used publicly.
Categorization of Electric Vehicle Charging Station Vendors
The evaluation of EV charging companies was conducted for 100+ companies offering these services, out of which 16 vendors were shortlisted and categorized on a quadrant under Visionary Leaders, Innovators, Dynamic Differentiators, and Emerging Leaders.
Tesla, BYD, Shell, ChargePoint, Blink Charging, ABB, and Engie have been identified as Visionary Leaders.
DBT, SemaConnect, and Siemens have been identified as Innovators.
Webasto, BP PLC, Yazaki, and EFACEC are Dynamic Differentiators.
EVGO and Schneider Electric have been recognized as Emerging Leaders.
360 Quadrants Scoring Methodology
360 Quadrants assessed some of the top electric vehicle charging station providers. These vendors were evaluated based on more than 70 specifically selected parameters, which were finalized based on the product and business strategies, data received from the buyers, and industry experts. All these parameters were assigned a specific weightage, post which they were measured. This study also helps the analysts calculate the total score based on which electric vehicle charging station providers were ranked and positioned on 360 Quadrants.
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