Vehicle-to-Grid (V2G) is a technology that enables energy to be pushed back to the power grid from the battery of an electric car. A car battery can be charged and discharged based on different signals such as energy production or consumption nearby with vehicle-to-grid technology. It provides a mechanism to meet the requirements of the electric power system by using parked electric automobiles. V2G can be used with plug-in electric vehicles, such as battery electric vehicles (BEV), plug-in hybrids (PHEV) or hydrogen fuel cell electric vehicles (FCEV).

Factors such as increase in demand for electric vehicles, and government initiatives for development of electric vehicle charging infrastructure are anticipated to boost the growth of the global vehicle-to-grid (V2G) market during the forecast timeframe. However, lack of sufficient infrastructure, and lack of standardization of electric vehicle (EV) charging are expected to hinder the growth of the global V2G market during the forecast period.

The vehicle-to-grid (V2G) market is segmented based on technology, charging type, vehicle type, component, and region. By technology, it is bifurcated into power management, and software. By charging type, it is fragmented into unidirectional charging, and bidirectional charging. By vehicle type, it is divided into battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell vehicles (FCVs).

𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐯𝐞𝐡𝐢𝐜𝐥𝐞-𝐭𝐨-𝐠𝐫𝐢𝐝 (𝐕𝟐𝐆) 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟏.𝟕𝟐 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟏, 𝐚𝐧𝐝 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟏𝟓.𝟎𝟑 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏, 𝐠𝐫𝐨𝐰𝐢𝐧𝐠 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟐𝟓.𝟑% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟐 𝐭𝐨 𝟐𝟎𝟑𝟏.