Cloud-Based EV Charging Market is anticipated to grow with a healthy CAGR from 2020 to 2030.

Market Industry Reports (MIR) has published a new report titled “Cloud-Based EV Charging Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the global cloud-based EV charging market is anticipated to grow with a healthy CAGR from 2020 to 2030. 

The emergence of electric vehicles is shaping the future of the automotive industry. In an electric vehicle, the battery is the main power source. Thus, its timely charging is one of the major concerns elevated. Moreover, the key players in the electric vehicle charging market have been looking for smart charging solutions to provide a better experience to their customers. Furthermore, the key players are investing heavily in the cloud-based EV Charging technology as it offers a wide range of charging solutions including access management for chargers, revenue management, pricing & billing, EV-driver app, network management, remote management, and smart charging, among others. For instance, EV Connect locked about US$ 12 million to scale cloud-based innovations for electric vehicle charging.

Moreover, the cloud-based EV Charging technology has various advantages over local smart charging technology. For instance,

  • Speed: Cloud-based EV Charging system can perform faster calculations than the most powerful high-end local controller
  • Low Maintenance & Cost-effectiveness: Server costs of cloud networks are continuously decreasing. Also, cloud systems are much easier to replace and upgrade
  • Interconnected: Cloud technology can interconnect the user & vehicle data and fleet management software data to provide user-centric optimization

Advantages offered by the cloud-based EV charging technology are among the major driving factors present in the operating market.

Furthermore, growing collaborations between IT-based companies and charging infrastructure providers have been propelling the market growth. For instance, ABB and Microsoft Corporation have announced a new Electric Vehicle (EV) fast-charging services platform. The new platform is the combination of ABB’s leading EV charging stations with Microsoft's Azure cloud-based services. This platform will ensure scalability and advanced management features for ABB EV charging customers.

Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Cloud-Based EV Charging Market By Service Type (Software as a Service, Platform as a Service, and Infrastructure as a Service), By Solution (Insights & Reporting, Access Management for Chargers, Revenue Management, Pricing & Billing, EV-Driver App, Network Management, Remote Management, and Smart Charging), By Charging Type (AC Charging and DC Charging) - Analysis & Forecast 2020-2030. in detail along with the table of contents:

North America accounted for the largest market share in 2019 owing to the high adoption of electric vehicles and the availability of developed EV charging infrastructure. Also, the presence of established players in this region has been creating new opportunities in North America. Moreover, favorable government initiatives and the increasing demand for passenger electric vehicles are driving the market growth in this region.

Some of the prominent players in the Cloud-Based EV Charging market include EV Connect, Allego B.V., ChargePoint, Inc., ABB, OpConnect, Inc., Fortum, Greenflux B.V., Driivz Ltd., Enel X, and Saascharge, among others

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