EV charging app market Report Overview
-
Request a Free Sample to learn more about this report
global EV charging app market size was USD 6060 million in 2022 and market is projected to touch USD 205267.11 million by 2032 at CAGR 40.5% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the EV charging app market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
An EV charging app is a mobile application that allows electric vehicle (EV) drivers to find, access, and pay for EV charging stations. They can provide various features and functions such as, showing the location, availability, and status of nearby EV charging stations on a map or a list and providing information such as the type, power, price, and rating of each EV charging station.
They can help EV drivers to overcome the range anxiety and the inconvenience of finding and using EV charging stations. It can also help EV charging station operators and owners to increase their customer base and revenue. Moreover, it can help the environment and the society by promoting the adoption of clean and sustainable mobility solutions.
COVID-19 Impact: Pandemic Decreased the Market Demand owing to the Environmental Awareness
The COVID-19 pandemic has had a significant impact on the EV charging app market share. Covid-19 pandemic has reduced the demand for mobility services and the usage of EV charging stations, which has adversely affected the revenue and growth prospects of the App providers. The pandemic has forced many people to stay at home or work remotely, which has reduced their need for traveling and using electric vehicles. This has resulted in a lower number of new and existing customers for the App providers, who may also face challenges in retaining their loyal customers due to reduced usage frequency and satisfaction. The pandemic has also reduced the income and spending power of many people, who may opt for cheaper or alternative modes of transportation or reduce their discretionary spending on mobility services. This has resulted in a lower revenue and profit margin for the App providers, who may also face difficulties in managing their cash flow and operational costs due to lower transaction volumes and subscriptions.
Latest Trends
"Integration of Artificial Intelligence (AI) and Machine Learning (ML) Technologies is expected to Fuel the Growth in the Market"
One of the recent trends in the market is the integration of artificial intelligence (AI) and machine learning (ML) technologies. These technologies can enhance the functionality and user experience of these apps by providing features such as smart navigation, dynamic pricing, predictive maintenance, demand response, and personalized recommendations. For example, some Of the apps use AI and ML to optimize the routing and scheduling of EV drivers to find the nearest and cheapest charging stations, based on their preferences, driving patterns, battery status, traffic conditions, and weather forecasts. Some other EV charging app use AI and ML to monitor and analyse the performance and health of EV charging stations, and to provide alerts and suggestions for preventive maintenance and repairs. Moreover, some of the apps use AI and ML to manage and balance the load and demand of EV charging stations, and to offer dynamic pricing and incentives for users to shift their charging times to off-peak periods or to participate in grid services.
EV charging app market Segmentation
-
Request a Free Sample to learn more about this report
- By Type Analysis
According to type, the market can be segmented into DC Charging and AC Charging.
- By Application Analysis
Based on age, the market can be divided into BEV and PHEV.
Driving Factors
"Increasing Adoption of Electric Vehicles to Foster the Market Growth"
The rising popularity of electric vehicles is driven by various factors such as environmental concerns, government policies, technological innovations, cost reductions, and consumer preferences. As more people switch to electric vehicles, the demand for convenient and accessible EV charging services will also increase, which will create a huge potential for the market. Electric vehicles can help reduce the carbon footprint and environmental impact of transportation, as they do not emit any tailpipe emissions or pollutants that contribute to global warming and smog. Electric vehicles can also help save money on fuel and maintenance costs, as they have higher energy efficiency and lower operating costs than conventional vehicles. Moreover, electric vehicles have fewer moving parts and require less frequent servicing and repairs than conventional vehicles.
"Growing Competition and Innovation in the Expansion of the Market"
The market is becoming more competitive and innovative as new entrants and existing players are launching new products and services to attract and retain customers. They providers are expanding their network coverage by partnering with various stakeholders such as EV manufacturers, charging station operators, utilities, governments, etc., to increase the availability and accessibility of EV charging stations for their users. For example, Charge Point, one of the leading EV charging app providers in North America and Europe, has a network of over 132,000 public and private charging spots across 14 countries. The App providers are offering interoperability and compatibility with different types of chargers and vehicles, to enable their users to access various charging options and avoid issues such as incompatible plugs or sockets, varying voltage or current levels, etc. For example, PlugShare, one of the most popular App providers in the world, has a database of over 300,000 charging stations across 100 countries that support various standards such as CHAdeMO, CCS, Tesla Supercharger, etc.
Restraining Factor
"Lack of Standardization and Regulation in the EV Charging Industry to Hamper The Market Growth"
The EV charging industry is still in its nascent stage and faces many challenges such as lack of uniform standards, protocols, regulations, policies, etc., across different regions, countries, states, cities, etc. This can create confusion and inconvenience for both EV drivers and EV charging app providers. For example, some EV drivers may face issues such as incompatible plugs or sockets, varying voltage or current levels, different payment methods or currencies, etc., when they use different types of chargers or stations in different locations.
EV charging app market Regional Insights
-
Request a Free Sample to learn more about this report
"Asia Pacific to Lead the Market Owing to Increasing Environmental Awareness and Social Responsibility"
Asia Pacific region has shown the highest EV charging app market growth. The large and growing population and urbanization in the region, has created a huge demand for mobility services and solutions. The increasing environmental awareness and social responsibility in the region, has motivate people to adopt clean and green transportation options such as electric vehicles and EV charging app.
Key Industry Players
"Key Players Are Employing Advanced Technologies In Order To Stimulate Further Growth Of The Market "
All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.
List of Market Players Profiled
- Tesla (U.S)
- State Grid (China)
- TELD (China)
- Star Charge (China)
- EnBW (Germany)
- Shell (U.K)
- Elli (U.S)
- Allego (Netherlands)
- Chargepoint (U.S)
- Evgo (U.S)
- Electrify America (U.S)
- LogPay (Germany)
- MAINGAU Energie (Germany)
- DKV (Germany)
- Blink Charging (U.S)
- BP Pulse (U.K)
Report Coverage
This report examines an understanding of the EV charging app market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.
Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 6060 Million in 2022 |
Market Size Value By |
US$ 205267.11 Million by 2032 |
Growth Rate |
CAGR of 40.5% from 2022 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the EV charging app market expected to touch by 2032?
The EV charging app market is expected to touch USD 205267.11 million by 2032.
-
What CAGR is the EV charging app market expected to exhibit during 2032?
The EV charging app market is expected to exhibit a CAGR of 40.5% over 2032.
-
Which are the driving factors of the EV charging app market?
The driving factors of the EV charging app market are the increasing adoption of electric vehicles and the growing competition and innovation.
-
Which are the top companies operating in the EV charging app market?
The top companies operating in the EV charging app market are Tesla, State Grid, TELD, Star Charge, EnBW, Shell, Elli, Allego, Chargepoint, Evgo, Electrify America, LogPay, MAINGAU Energie, DKV, Blink Charging, BP Pulse.