Covina, July 22, 2024 (GLOBE NEWSWIRE) -- According to Prophecy Market Insights, the study concludes that the global EV charging software market size and share is expected to grow at a CAGR of 28.6% between 2024 and 2034. The market revenue of USD 1.5 Billion in 2024 is expected to grow up to USD 14.8 Billion by 2034.
EV Charging Software Market Report Overview
- How Big is EV Charging Software Market Size?
EV charging software is a solution for managing charging stations, offering benefits for drivers and operators alike. It assists in performance and usage tracking, management of maintenance schedules, real-time monitoring, and station status. It also integrates with payment gateways for secure transactions and designs price plans. It also monitors energy consumption and charges when grid conditions are favorable to prevent overload and reduce energy costs. The software helps drivers easily locate charging stations, guide user registration, and display data on charging history and usage. It is capable of monitoring individual car charging needs and optimizing the charging schedules for electric fleet companies.
EV Charging Software is for operators and e-mobility service providers to operate the process of EV charging, maximize uptime, and enhance the driving experience. Some of the primary functions in this regard are analysis of operational data, logging, alerting, monitoring of the charging network, and logging. The program should be able to adapt, grow, and process Log and invoice/bill all kinds of schemes. It should provide multi-party settlement with business partners and EV roaming providers, time-of-use, KWh, per-minute, charging speed-based pricing. Multi-national operators should offer flexible tax administration and support of numerous currencies. Driver-facing technologies such as web portals and mobile apps propel EV acceptance and growth.
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Our Free Sample Report includes:
- Overview & introduction of market study
- Revenue and CAGR of the market
- Drivers & Restrains factors of the market
- Major key players in the market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent developments/news of the market
- Opportunities & Challenges of the Market
Competitive Landscape:
The EV Charging Software Market is characterized by rapid growth, technological innovation, and fierce competition. Companies are expanding their global presence, focusing on sustainability, and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
- ChargePoint
- EVgo
- Tesla
- ABB Ltd
- Blink Charging
- Siemens
- Charge Zone
- EVBox
- Shell
- Tata Power
- Wallbox
- ADS-TEC Energy
- Allego
- BP Pulse
- BYD
- ChargeLab Inc.
- Charzer Charging Station
- Delta
- Eaton Corporation
- Exicom Tele-Systems Ltd
- Driivz Ltd.
- Etrel
- EVCS
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Analyst View:
EV charging software manages all stations, hence offering various benefits for drivers and operators. The software performs the function of performance tracking, management of maintenance schedules, real-time monitoring, and station status. This integrates with payment gateways to make a safe transaction and designs price plans. Monitor energy consumption and charge to prevent overload and reduce costs. It helps the driver to locate charging stations, onboard users, and also show charging history and usage data. It also optimizes schedules for electric fleet companies and has flexible tax administration. The software meets customer needs for seamless charging, ease of payment, real-time availability, and charging points. It bundles together renewable energy sources, charge optimization, variable price functionality, and fleet management. Other nonevasive technology trends involve IoT devices and cloud computing, which allow for real-time monitoring of a charging station, battery health, and energy use.
Market Dynamics:
Drivers:
Customer Needs & Competition
- This means that what an EV driver demands today is a rather seamless charging experience, including ease of payment, real-time availability, and locating these charging points through applications. Trip-planning tools, exact time predictions for charging, and interoperability in networks become key to reducing range anxiety. Software related to energy management and smart charging will therefore incorporate renewable energy sources, charge optimization based on grid circumstances, and variable price functionality. Such fleet management software maximizes schedules of charging, monitors every single vehicle's unique charging requirements, and integrates vehicle tracking systems for increased efficiency.
Developments in Technology and Business Trends
- It provides real-time monitoring of charging stations, battery health, and energy usage with the integration of IoT devices and thus makes provisions for proactive maintenance and optimization of the chargers. Cloud computing can thus provide a better way of storing data, operating remotely, and scaling charging networks. Smart grid integration by efficient charging software can ensure the highest energy uses and probably even use renewable energy sources. Good cybersecurity safeguards must ensure the protection of user data.
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Market Trends:
Intelligent Charging Systems and Grid Cooperation
- With an increased fleet of electric vehicles, demand for power increases, hence grid stability is managed. EV charging software, in the process of managing energy consumption and peaking off-hour load from the grid, will easily integrate with renewable sources of energy. It could be achieved through private programs to schedule the charging off-peak, aggregating renewable power sources of vehicle-to-grid, which enables EVs to feed excess power back into the grid during times of peak demand.
Segmentation:
EV Charging Software Market is segmented based on Charger Type, Vehicle Type, and Region.
Charger Type Insights
- Although the time taken for a full charge by an EV is larger, the EV chargers are always located in homes. Fast charging is a good suit for public spaces like supermarkets, parks, retail stores, and recreation facilities. Type-2 chargers are rated to charge most of the plug-in hybrids and electric vehicles. The DC charger allows quick charging of the car by converting the alternating current being supplied into direct current. With this charger, the electric car will be fully charged within one hour, or 80% of it within 20 minutes.
Vehicle Type Insights
- Unlike automobiles, E-2 Wheeler is a software company that deals with low-power charging solutions for electric scooters and motorbikes. Electric three-wheeled vehicles are part of public transport that calls for reliable and efficient software to run on a day-to-day basis; E-3 Wheeler specializes in all kinds of software for their charging. E-Car offers electric car charging both for private and commercial purposes; commercial vehicle software includes fleet management, optimization of charging during off-peak hours, and integration with logistics management systems. On the other hand, personal electric car charging stresses scheduling and user-friendly interfaces.
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Recent Development:
- In July 2024, California-based businesses can now access the Ford Pro™ Smart Charging Bundle, which offers a complimentary Ford Pro Level 2 EV charger and advanced energy management features for businesses subscribed to Ford Pro Charging software. This initiative simplifies the addition of electric vehicles to fleets and automates demand response to grid events.
- In April 2024, Rivian’s new software update will help you avoid all the broken EV chargers. The company is gathering data on EV chargers for a new scoring system that it said can help customers navigate the treacherous waters.
Regional Insights
- North America: With established EV charging network operators and investments in charging infrastructure already in place, along with government policies that favor EVs, this region is bound to be one of the largest markets for EV charging software.
- Europe: It is expected that a large and densely populated urban population demanding the convenience of charging would drive the market in the region. Apart from this, several government initiatives, especially in countries like China, India, and Japan, would raise the demand for EVs and thereby the supporting infrastructure needed for EV charging.
Browse Detail Report on "EV Charging Software Market Size, Share, By Charging Site (Public, Private), By Charger Type (Slow Charging, Fast Charging, Rapid Charging), By Vehicle Type (E-2 Wheeler, E-3 Wheeler, E-Car), and By Region - Trends, Analysis and Forecast till 2034" with complete TOC @ https://www.prophecymarketinsights.com/market_insight/ev-charging-software-market-5520
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