A new study suggests that with traffic-clogged urban areas leading the way, the amount of money spent on electric vehicles is poised to jump to nearly $60 billion by end of the decade.
ABI Research, which tracks the adoption of innovative technology, is predicting an imminent rise in smart electric mobility as extreme pollution and congestion in urban areas coupled with limited transportation options continues to challenge major cities across the globe. Data analysis forecasts global electric vehicle revenue will hit $58 billion in 2021, more than five times its market value in 2015, ABI said in its new report.
“The role of vehicle electrification in urban areas is part of a broader smart mobility model that includes shared vehicles, charging options, and driverless electric vehicle fleets of cars, buses, trams, and light rail,” said Susan Beardslee, Senior Analyst at ABI Research. (more…)