The rising deployment of electric vehicles in the transport fleets of various countries is an important factor propelling the demand for smart battery chargers across the world. Due to the rising emission levels and global warming, many countries are increasingly adopting electric vehicles in their transport fleets. Furthermore, the governments of several countries have enacted strict policies for curbing emissions, which is, in turn, boosting the sales of electric vehicles all over the world. The surging usage of electric vehicles will increase the requirement of smart batteries, which will subsequently create huge demand for smart battery chargers across the world.

In addition to the above-mentioned factor, the rising incorporation of internet of things (IoT) is also fuelling the soaring demand for smart battery chargers around the world. In the agriculture sector, the IoT-integrated smart farms rely on various nodes, spread over large areas of land, for collecting data on soil moisture, weather, evaporation, and several other parameters. These nodes are usually powered by batteries and depend on different kinds of energy harvesting methods, such as solar energy for supplementing the existing capacity of the battery.

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Additionally, the flourishing telecom and consumer electronics industries are contributing heavily toward the ballooning sales of smart battery chargers across the globe. Due to these factors, the global smart battery charger market will demonstrate substantial growth over the next few years, as per the forecast of the market research company, PS Intelligence. The smart battery chargers usually have at least three charging stages namely the boost stage, absorption stage, and float or maintenance stage. These chargers consist of various premium features such as the monitoring of temperature, charging process, batteries, and voltage and preventing the overcharging of the battery.

Based on region, the smart battery charger market is categorized into North America, Europe, Latin America (LATAM), Asia-Pacific (APAC), and Middle East and Africa (MEA). North America accounts for substantial share in the market due to high adoption of smart electronic devices and electric vehicels in the region mainly in the U.S. For instance, in the U.S. alone, sales of smartphones in 2017 reached to $55.6 billion in 2017 from from $18 billion in 2010. Also, in the U.S., smartphone users increased to 69.6% from nearly 40% in 2012.