EV Charging Management Software Platform Market Size, Share & Trends Analysis Report By Module, By Deployment, By Charger Type, By Application (Commercial, Residential), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global EV charging management software platform market size was estimated at USD 0.93 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 30.3% from 2023 to 2030. The market for electric vehicle charging management software platforms is witnessing growth due to the rapid expansion of EV charging infrastructure. For instance, as reported by electrek, a notable American news website, 2022 witnessed more substantial growth in charging ports than the cumulative increase over the previous three years. Approximately 54,000 Level 2 chargers and 10,000 Level 3 chargers were introduced in 2022, thereby expected to fuel the market’s growth over the forecast period.

The growing adoption of electric vehicles across the globe is another major factor driving the market growth. For instance, according to the International Energy Agency (IEA), the share of electric cars in total sales increased from around 4% in 2020 to 14% in 2022. The growing access to internet connectivity and digitalization across various sectors, including finance for highly efficient operations, are anticipated to fuel the EV charging management software platform market. Additionally, the need for managing various activities such as energy management, operation management, and EV billing and payment management to ensure the efficient, reliable, and user-friendly operation of EV charging infrastructure is anticipated to propel the market’s growth over the forecast period.

The transformation of Electric Vehicle (EV) charging infrastructure is shaped by significant technological trends such as smart grid integration, IoT connectivity, data analytics, and AI-driven insights. These advancements are revolutionizing the way EV charging operates. The smooth flow of real-time data among charging stations, vehicles, and management platforms is enhancing the effective distribution of energy, enabling predictive maintenance, and facilitating timely response to demand fluctuations. Thus, the above-mentioned technological trends are expected to fuel the market growth over the forecast period.

The growth of EV charging infrastructure worldwide has grabbed the attention of venture capital firms driving investments in the market. For instance, in January 2023, AMPECO, an EV charging software, announced that it raised USD 16 million through a venture capital investment after raising USD 13 million through a series A funding round led by BMW i Ventures Inc. The company aimed to utilize these funds to expand its business in the U.S. to provide large-scale EV charging providers complete control of their business. Furthermore, the growing strategic initiatives such as partnerships and collaboration between the market players also bode well for the market's growth over the forecast period.

While the market for EV charging management software platforms is poised for growth over the forecast period, it does face certain challenges. These challenges encompass both cost considerations and security issues. For instance, implementing EV charging management software platforms can incur substantial expenses, necessitating additional hardware and IT infrastructure investments. Moreover, the software's complexity can lead to user errors or inaccurate data input. Furthermore, security breaches are potentially risky, as the software may contain sensitive customer information. However, these security concerns can be mitigated through timely security updates, and the initial implementation costs may decline as the market matures, thereby boosting the market's growth over the forecast period.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic had a moderate impact on the EV charging management software platform market. The lockdowns and travel limitations initially curtailed mobility and usage of EVs, impacting charging station utilization and software demand. Supply chain disruptions further hindered hardware deployment. However, a focus on sustainable transportation owing to the pandemic has accelerated EV adoption and demand for EV charging management software platforms. Furthermore, several governments are offering subsidies on EV purchases which creates demand for EV charging management software platforms.

Module Insights

The operation management segment dominated the market in 2022 and accounted for a revenue share of more than 30.0%. The growth of the segment can be attributed to its crucial role in effectively optimizing the performance of EV charging infrastructure. The operation management software solution provides real-time monitoring of charging stations & and networks, remote control and diagnostics, demand forecasting, predictive maintenance, energy management, and reporting, among others. This platform ensures reliability, scalability, and sustainability by facilitating efficient operation, maintenance, and user management, contributing to seamless and user-friendly electric vehicle charging experiences.

The EV billing and payment segment is anticipated to register the fastest growth over the forecast period. The EV billing and payment segment growth can be attributed to its features, such as support for multiple EV billing tariffs, real-time rating, and pay-outs and invoicing features, among others. Furthermore, the growing number of market players offering software platforms for EV billing and payment is also anticipated to fuel the segment’s growth over the forecast period. For instance, companies such as Driivz Ltd and AMPECO LTD offer these solutions to their clients, allowing them to monitor relevant payments and bills.

Deployment Insights

The public chargers segment dominated the EV charging management software platform market in 2022 with a revenue share of above 73.0%. The public chargers segment growth can be attributed to the increasing number of public charging stations across the globe. For instance, according to Twilio, a software and cloud communications company, there were approximately 1,777,000 publicly available charging stations worldwide as of 2021. Thus, such a high number of publicly available charging stations creates more demand for EV charging management software platforms resulting in growth of the market.

The private chargers segment is expected to witness significant growth over the forecast period. The private chargers include all the charging stations that are operated by private companies, organizations, and residential societies, among others. The private charging stations offer convenience, cost savings, and reliable access for daily charging needs, making them more prevalent among EV owners. The EV charging management software platform can provide a better charge experience for EV drivers, optimize energy usage and costs, and enable complete control of charge points. However, not all private charging stations demand the EV charging management software platform. Thus, the segment is anticipated to grow gradually over the forecast period.

Charger Type Insights

The Level 2 charger segment dominated the market in 2022 and accounted for a revenue share of above 52.0%. The Level 2 segment's growth can be attributed to the high compatibility and flexibility in installing Level 2 chargers. The Level 2 chargers can be installed in various locations, including commercial buildings, workplaces, and public charging stations. Hence, as the chargers are installed at more locations, the demand for EV charging management software platforms increases.

The Level 3 segment is projected to witness the fastest growth over the forecast period. The growth is ascribed to the fact that it is the fastest way to charge an electric vehicle. The Level 3 chargers are particularly valuable to businesses and fleets seeking efficient charging solutions, as well as urban and highway deployments that cater to busy commuters. The expansion of the EV market, coupled with government incentives and technological advancements, has driven increased investment in Level 3 charger infrastructure, driving the demand for EV charging management software platforms.

Application Insights

The commercial segment dominated the market for EV charging management software platforms in 2022 with a revenue share of above 84.0%. The commercial segment’s growth can be attributed to the increasing demand for EV charging management software. For instance, commercial charging stations emphasize the optimization of cost, real-time monitoring, and proper management of the stations. Thus, commercial charging stations demanding EV charging management software will result in the market's growth over the forecast period.

The residential segment is expected to witness steady growth over the forecast period. The growth can be attributed to the high number of EV owners using residential charging points for recharging their EV batteries. For instance, according to Smart Charge America, an EV charger service provider, nearly 95% of electric car charging is performed at home. The rising adoption of electric vehicles and growing preference for charging them at home have surged the demand for reliable and efficient residential charging services might fuel the further growth of the segment.

Regional Insights

North America dominated the EV charging management software platform market in 2022 and accounted for a share of over 29.0% of the global revenue. The growth can be ascribed to the increasing adoption of EVs across the region. The presence of prominent players such as ChargeLab Inc. and ChargePoint, Inc. is expected to fuel the regional growth. Additionally, the government initiatives and policies promoting the electrification of transportation services, along with incentives for EV charging infrastructure deployment, bode well for the market growth.

Asia Pacific is anticipated to grow at the highest CAGR over the forecast period. The growth can be attributed to the growing EV initiatives in countries such as China, India, and Japan. For instance, in May 2023, The Chinese government announced plans to accelerate the development of charging infrastructure for new energy vehicles, including electric cars, and enhance policies related to their purchase and usage. Furthermore, the growing demand for EVs across India and other countries will likely boost the need for comprehensive and efficient charging solutions, creating a favorable environment for driving market growth.

Key Companies & Market Share Insights

The market can be considered extremely competitive and characterized by the presence of numerous notable industry players. To improve their offers, industry leaders are exploring a variety of methods, including geographic expansions, partnerships, and collaborations, among others. For instance, in March 2021, Driivz, an EV charging and energy management software platform provider, extended its partnership with EVgo, a public fast charging network in the U.S. This partnership was aimed at supporting the rapid growth of the EVgo fast charging network.

Market players are focusing on introducing new product offerings. For instance, in June 2023, SolarEdge, a monitoring platform, announced the launch of its solar-optimized EV management platform. As a result, this launch will help sites withlarge numbers of EVs requiring dynamic load management and solar resources to manage and optimize the EV charging process. Some prominent players in the global EV charging management software platform market include:

• Ampeco Ltd

• Etrel

• Driivz

• EVBox

• Shell

• Evconnect

• Chargelab

• Chargepoint

• Virta

• Touch GmbH

EV Charging Management Software Platform Market Report Scope

Global EV Charging Management Software Platform Market Segmentation

The report forecasts revenue growth at global, regional, and country levels and analyzes the latest industry trends in each sub-segment from 2017 to 2030. For this study, Grand View Research has segmented the EV charging management software platform market report based on module, deployment, charger type, application, and region:

• Module Outlook (Revenue, USD Million, 2017 - 2030)

  • Operation Management

  • Energy Management

  • EV Billing and Payment

  • Others

• Deployment Outlook (Revenue, USD Million, 2017 - 2030)

  • Private Chargers

  • Public Chargers

• Charger Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Level 1

  • Level 2

  • Level 3

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Commercial

  • Residential

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

    • France

    • Netherlands

    • Norway

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • The Kingdom of Saudi Arabia (KSA)

    • UAE

    • South Africa