EV Charging Management Software Platform Market Analysis

EV Charging Management Software Platform Market Overview

EV Charging Software Market Size was valued at USD 928.69 Million in 2022. The Global EV Charging Management Software Platform market is projected to grow from USD 1237.02 Million in 2023 to USD 10073.51 million by 2032, exhibiting a compound annual growth rate (CAGR) of 26.2% during the forecast period (2024–2022). The EV Charging Software Market is expected to grow significantly over the forecast period due to several factors. 

The growth of the EV Charging Software Market is expected to be driven by key factors such as the increasing popularity of electric vehicles (EVS) is fueling demand for EV charging solutions, smart charging solutions are becoming increasingly popular due to their ability to optimize energy consumption and reduce costs and stringent government regulations and policies encouraging the adoption of EVS and EV charging infrastructure. However, factors such as high upfront costs and cybersecurity concerns are expected to restrict market growth. On the other hand, growing demand for commercial EV charging solutions and development of new technologies pose lucrative opportunities for the Global market.

As per Analyst at MRFR, “As businesses and governments prioritize environmentally friendly transportation, the market for efficient and smart charging stations is set to expand. By catering to the evolving needs of the transportation sector, commercial vehicle charging stations can play a pivotal role in promoting clean and technologically advanced mobility, thus presenting a promising prospect for market growth.”

Figure1: EV Charging Software Market, 2019 - 2032 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

EV Charging Software Market Opportunity

• Smart Charging Solutions Are Becoming Increasingly Popular Due to Their Ability to Optimize Energy Consumption and Reduce Costs

The rise of smart charging solutions is set to propel the EV charging software market forward. These solutions offer intelligent ways to charge electric vehicles, addressing the increasing demand for energy caused by the shift to electric cars. Smart charging differs from regular charging by using automated systems to control the charging process, optimizing power usage, and improving efficiency. These intelligent systems use data analytics, machine learning algorithms, and real-time monitoring to manage charging sessions efficiently. By optimizing charging times based on factors such as energy tariffs, grid conditions, and vehicle usage patterns, smart charging solutions enable users to save money on energy costs while ensuring a reliable supply of power. Additionally, these solutions provide valuable insights into user behavior, which can help charge point operators and grid managers make informed decisions about future infrastructure development, further driving the adoption of
ev charging management software platform market.

The market players are actively involved in introducing news and innovative solutions to cater to such demands of increased smart charging solutions to gain a competitive advantage over the others. For instance, in July 2023, Charge Zone introduced Charge Cloud, a SaaS (Software as a Service) solution tailored for EV charging stations. This platform aims to streamline operations, manage multiple charging stations, optimize energy usage, and provide user-friendly interfaces.

Also, recently in July 2023, Green Flux, a leader in EV smart charging, introduced a large-scale, cloud-based, and hardware-agnostic smart charging algorithm for DC fast charge stations. This innovation manages combined power consumption of stations, aiding CPOs in sustainable fast-charging network expansion. By avoiding hardware limitations, it cuts infrastructure costs, promotes flexible EV charging via renewable energy, and accelerates DC-charging network growth, emphasizing revenue potential in the EV charging sector.

EV Charging Software Market Charging Levels Segment Insights:

EV Charging Management Software Platform Charging Levels Insights

Based on Charging Levels, the EV Charging Software Market segmentation includes Level 1 & 2 and Level 3. The Level 1 & 2 segment held the majority share in 2022, contributing around ~ 82.0% to the market revenue. 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.

Figure2: EV Charging Software Market, by Component, 2022 & 2032 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

EV Charging Software Market Module Segment Insights

EV Charging Management Software Platform Module Insights

Based on Module, the EV Charging Software Market segmentation includes Operations Management, Energy Management, Billing Management and Others. The Operations Management segment held the majority share in 2022 contributing around ~54.0% to the market revenue. 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.

EV Charging Software Market Offerings Segment Insights:

EV Charging Software Offerings Insights

Based on the Offerings, the EV Charging Software Market segmentation includes Software and Services. By Offerings, software segment holds the majority market share in 2022 contributing 84.2% of the market share. EV charging software enables EV charging operators and e-mobility service providers to manage all aspects of EV charging so they can maximize charger uptime and provide drivers with an exceptional EV charging experience. The software also enables monetization of services for EV charging providers.

EV Charging Software Market End User Segment Insights:

EV Charging Management Software Platform Market End User Insights

Based on the End User, the EV Charging Software Market segmentation includes Private EV Infrastructure and Public EV Infrastructure. By End User, Private EV Infrastructure segment hold the majority market share in 2022 contributing 29.4% of the market share. 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 charger’s 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.

EV Charging Management Software Platform Market Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In terms of revenue, AsiaPacific held the largest share of 67.1% in the EV Charging Software market in 2022 and is expected to maintain its dominance during 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. China is among the leading adopters of electric vehicles in the Asia Pacific. According to the State Council, between 2023-2025, China wants to have 80 percent of its public transportation fleet be electric, including bus and taxi services, as it quickens its efforts to promote a greener lifestyle amid a boom in new energy vehicle development. About 6.89 million plug-in electric cars were sold in China in 2022, an increase of almost 93% from 2021. In accordance with the China Association of Automobile Manufacturers, the output of plug-in electric vehicles increased by about 97 percent to about 7.06 million units. Owing to these factors, the market is expected to expand in the Asia Pacific region.

Figure3: Ev Charging Software Market Size By Region 2022&2032

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Further, the major countries studied in the market report are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Europe's EV Charging Management Software Platform market accounts for the second-largest market revenue share due to the region's ambitious electric mobility initiatives, stringent environmental regulations, and the rapid expansion of electric vehicle infrastructure across various countries. Further, the German EV charging management software market held the largest market revenue share, and the UK EV charging management software market was the fastest-growing market in the European region.

North America's commercial and municipal sectors are showing a growing interest in fleet electrification, which requires robust charging infrastructure and management solutions to support large-scale EV deployments. Investment in the EV charging sector is rising due to factors like strategic partnerships between technology companies, utilities, and charging network operators. These investments are often directed toward software development and network expansion. Therefore, these factors will propel the demand in the North America segment.

EV Charging Management Software Platform Market Key Industry Players & Competitive Insights

With a strong presence across different verticals and geographies, the EV Charging Software market is highly competitive and dominated by established, pure-play vendors. Over 30 vendors cater to this market, and they continually innovate their solutions to meet the evolving needs of businesses by adopting new technologies to make business more effective. These vendors have a robust geographic footprint and partner ecosystem to cater to diverse customer segments. The EV Charging Software market is highly competitive, with many vendors offering similar products and services.

The major players in the market include YoCharge, Shell Recharge, EV Connect, ClenergyEV, Last Mile Solutions, OpConnect, Monta, Bpfleet, Powerflex, AMPECO LTD, ChargeLab Inc., ChargePoint, Inc., and Others. Shell strategies to help customers as they transition to electric vehicles by providing innovative charging solutions that meet their needs at home, at work. Shell currently has more than 40,000 public charge points globally for electric vehicles at forecourts, retail sites and destinations. By 2025, it was expected to have around 70,000 public EV charge points and around 200,000 by 2030 globally. And By 2030, the company aim to have 100,000 public EV charge points across UK. This means that 90% of all UK drivers will be within a 10-minute drive of a Shell rapid charger.

The EV Charging Software Market is a consolidated market due to increasing competition, acquisitions, mergers, and other strategic market developments and decisions to improve operational effectiveness.

Key Companies in the EV Charging Software market include

• YoCharge


• Shell Recharge


• EV Connect


• ClenergyEV


• Last Mile Solutions


• OpConnect


• Monta


• Bpfleet


• Powerflex


• AMPECO LTD


• ChargeLab Inc.


• ChargePoint, Inc.

EV Charging Management Software Platform Market Industry Developments

• In January 2023, EV Connect Expands EV Charging-as-a-Service Program supported by investor Mitsui & Co., Ltd. (Mitsui) was launched. The program combines hardware, software, and service offerings with flexible payments to EV Connect customers to create a one-stop shop for worry-free EV charging.


• In January 2023, EV Connect Expands EV Charging-as-a-Service Program supported by investor Mitsui & Co., Ltd. (Mitsui) was launched. The program combines hardware, software, and service offerings with flexible payments to EV Connect customers to create a one-stop shop for worry-free EV charging.

EV Charging Software Market Segmentation:

EV Charging Software Charging Levels Outlook

• Level 1 & 2


• Level 3 

EV Charging Management Software Platform Market Module Outlook

• Operations Management


• Energy Management


• Billing Management


• Others

EV Charging Management Software Platform Market Offerings Outlook

• Software


• Services

EV Charging Management Software Platform Market End User Outlook

• Private EV Infrastructure
  
  
  
  • Residential
  
  
  • Fleet Facilities
  
  
  • Workplaces
  
  
  
  


• Public EV Infrastructure
  
  
  
  • Highways and Rest Shops
  
  
  • Parking Garages
  
  
  • Shopping Malls
  
  
  • Restaurants and Hotels
  
  
  • Public Parks
  
  
  • Others
  
  
  
  

EV Charging Management Software Platform Market Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • UK
  
  
  • Germany
  
  
  • France
  
  
  • Italy
  
  
  • Spain
  
  
  • Norway
  
  
  • Netherlands
  
  
  • Sweden
  
  
  • Finland
  
  
  • Rest of Europe
  
  
  
  


• Asia Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • South Korea
  
  
  • Thailand
  
  
  • Taiwan
  
  
  • Malaysia
  
  
  • Vietnam
  
  
  • Rest of Asia Pacific
  
  
  
  


• Middle East & Africa
  
  
  
  • Saudi Arabia
  
  
  • UAE
  
  
  • Jordan
  
  
  • Rest of the Middle East & Africa
  
  
  
  


• South America
  
  
  
  • Brazil
  
  
  • Argentina
  
  
  • Chile
  
  
  • Colombia
  
  
  • Rest of South America