Global EV Charging Management Software Platform Market Size Set to Touch USD 28 Billion by 2029

EV Charging Management Software Platform

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects global EV charging management software platform marketsize to reach USD 27.81 billion by 2029. During the forecast period between 2023 and 2029, BlueWeave projects global EV charging management software platform market size to grow at a robust CAGR of 38.2%. Major factors for the expansion of global EV charging management software platform market include an increasing demand for electric vehicles (EVs). Global demand for EVs is increasing, as are government measures to maintain a pollution-free environment. The EV market will swiftly grow and evolve to achieve critical mass. Savvy business owners will commence with a software solution that can expand with the market, enabling them to monetize and increase their investments. E-mobility service providers and EV charging operators can use EV charging management software to handle all elements of EV charging, improving charger efficiency and offering EV drivers with a smooth charging experience. Furthermore, the software allows EV charging service providers to monetize their offerings. Energy usage and cost savings, total control of charging infrastructure, remote management of EV infrastructure, seamless charging experience for drivers, the potential of cost savings and revenue generation, automation of EV billing and payments, and the ability to achieve interoperability are some of the main advantages of EV charging management software.

Global EV Charging Management Software Platform Market– Overview

A charge point is an electric vehicle (EV) charging station where electric vehicles’ batteries can be recharged. Charge stations can be deployed in a variety of settings, including private or public parking lots, homes, and commercial structures. Charge point management software, also referred as an EV charging system or charging station software, is a centralized management solution that assists in optimizing the efficiency of all the charge points from a single, easy-to-use central hub. Fleet operators, charging operators, and others utilize Charging Management Software (CMS) to analyze and optimize electric vehicle charging operations. It is critical that the CMS be dependable, scalable, and simple to integrate with existing systems. A CMS can regulate the network’s power consumption and keep track of charging operations by connecting directly to EV chargers. It can also adjust charger behavior within parameters to achieve specific goals. The CMS is usually totally automated and does not require human intervention, but it can transmit critical alerts if needed. Modern EV charging systems, in addition to basic monitoring capabilities, aid in the optimization of charging station operations.

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Impact of COVID -19 on   Global EV Charging Management Software Platform Market

COVID-19 had a negative impact on the worldwide automotive industry. The most immediate impact of COVID-19 on the automotive industry is the closure of many OEM and supplier operations. A halt in the export of Chinese automobile parts, massive industrial disruptions across Europe, and the closure of assembly plants in the United States. The pandemic had an influence on the income streams devoted to R&D and adoption of innovative technology in the electric car sector. However, due to rising immunization rates worldwide and rising electric car demand, the electric vehicle charging system market is expected to expand significantly in the coming years.

Global EV Charging Management Software Platform Market – By Module

By module, global EV charging management software platform market is segmented into Operation Management, Energy Management, and EV Billing and Payment. The operation management segment is expected to dominate the market during forecast period. The EV charging management software’s operations management module contains capabilities for constantly monitoring EV charging networks as well as giving real-time warnings and notifications. It also offers capabilities for automatically diagnosing and remotely addressing issues, which improves network availability and stability. Advanced capabilities include insight-driven dashboards for constantly collecting, displaying, and analyzing operational data to enhance operations.

Competitive Landscape

Major players operating in global EV charging management software platform market includeEtrel, Driivz Ltd., EVBox, Current AS., AMPECO LTD, Tesla, Shell plc, EV Connect, Blink Charging Co., ChargeLab Inc., FLO Services USA Inc., ChargePoint, Inc., S-Pro, Virta Global, Touch GmbH, GreenFlux Assets B.V., NovaCHARGE, Inc., Siemens, Sicon Chat Union Electric Co. Ltd., and Monta. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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