Installations of EV charging stations globally are expected to reach 11.4 million by 2020, according to a report from Pike Research.
The report also revealed that nearly 135,000 plug-in electric vehicles (PEVs) are expected to be sold globally in 2012.
Pike Research senior research analyst Lisa Jerram said public charging stations have been greatly dependent on funds from the government.
"The industry is now trying to devise successful business models for deploying stations in public locations - an effort that will become increasingly urgent as government funding winds down," Jerram said.
By 2020, unit sales of electric vehicle supply equipment (EVSE) will reach 2.4 million from the current 200,000 in 2012.
The report also predicts that commercial charging equipment market for will rise faster when compared to residential charging equipment during the period.
