US$70 Billion From Public EV Charging in 2030, a US$90 Billion Automotive Digital Tech Spend in 2028, and 36 Other Transformative Technology Stats You Need to Know

The technology community – both innovators and implementers – is at a critical juncture in 2024. Global market pressures are starting to ease, but persistent geopolitical threats are hindering progress. As a result, companies are under pressure to make the right near-term decisions to drive positive impact and ROI within their organizations.

In its new whitepaper, 38 Transformative Technology Stats You Need to Know for 2024, global technology intelligence firm ABI Research identifies key forecasts to help companies and organizations make winning, informed decisions that impact the near term to seize market shifts, choose the best technologies and partners, achieve quick wins, meet robust ROI requirements, and use technology for aggressive growth or to safeguard against geopolitical shocks.

“This paper provides a selection of forecasts from ABI Research that can help companies and organizations make contextual decisions with the benefit of rigorously produced hard data. The rapid rise of public EV charging revenue, huge growth in auto OEM’s spend on digital technologies, and a big bet on 60GHz radar sensors are just some of the many changes on the horizon of which companies and organizations must be aware to make mid-course corrections or complete roadmaps,” Stuart Carlaw, Chief Research Officer at ABI Research explains.

Some stats highlighted in the whitepaper include:

Electric Vehicles:

Global revenue from public EV charging will grow to over US$70 billion in 2030. According to ABI Research Industry Analyst Dylan Khoo, “As we transition toward mass EV adoption, public charging will become more important and be responsible for a greater share of recharging. Direct Current Fast Chargers (DCFCs) will account for 73% of global public charging revenue despite making up only 29% of charge points. This is be­cause DCFCs deliver power at 50 Kilowatts (kW) to 400 kW, significantly faster than Alternating Current (AC) chargers, which are usually limited to 22 kW. This means they can deliver more energy in less time and, due to this convenience, allow operators to charge more per kWh.”

Industrial & Manufacturing Markets:

Automobile manufacturers will spend over US$90.92 billion on digital technologies to support existing workflows and the switchover to EVs. Spending on new projects in North America will pause as companies work through the outcome of the United Auto Workers (UAW) strike, but with encouragement from the U.S. Government, manufacturers will be investing in Electric Vehicle (EV) facilities. In Latin America, spending will be driven by firms scaling initial investments in the region’s plants and more investments in automobile plants in Mexico to serve the U.S. market. Scaling investments at existing plants and opening new facilities will drive investments in Europe, the Middle East and Africa (EMEA), and Asia-Pacific,” states ABI Research Director Michael Larner.

Smart Mobility & Automotive:

Over 6 million 60GHz radar sensors to ship in automotive cabins in 2032. According to ABI Research Director James Hodgson, “Robust sensing of the rear of the vehicle is challenging. The typical driver monitoring camera faces multiple occlusions, such as front seats and blankets covering child seats. 60 Gigahertz (GHz) radar is ideal for addressing this challenging perception task, penetrating through occlusions to provide robust detection of children in the rear seat, and having the sensitivity to detect the micromovements associated with breathing and heartbeat."

“Our unique, deep, comprehensive, relevant, and timely forecasts provide our clients with the tools to make better decisions when it matters most. We look forward to supporting our clients in 2024 as they outperform their competition,” Carlaw concludes.

Download the whitepaper, 38 Transformative Technology Stats You Need to Know for 2024, to learn more. You are welcome to share this link with your readers.