Charging As A Service Market Analysis, Size, Growth, Share, Trend, Outlook & Forecast 20222030
Charging As A Service Market Growth & Trends
The global charging as a service market size is expected to reach USD 1.24 billion by 2030, expanding at a CAGR of 22.6% from 2022 to 2030, according to a new report by Grand View Research, Inc. The growth of the charging as a service industry can be attributed to factors such as accessibility, ease of use, and a lower upfront cost of buying and installing a charging station. This encourages overall electric vehicle usage to improve environmental and public health.
Countries across the world are encouraging the adoption of electric vehicles, and many nations have participated in initiatives to reduce carbon emissions significantly till 2030 or 2050. Charging as a service plays a crucial role in driving EV adoption by providing effective charging infrastructure and completing the switch from Internal Combustion Engine (ICE) vehicles to electric vehicles. Governments and key market players worldwide are investing heavily in the charging as a service business model to foster the adoption of electric vehicles, which bodes well for the market’s growth.
Businesses, public spaces, and industries are realizing the benefits of deploying charging as a service at their premises. The EV charging as a service business model helps companies offer their clients and employees a comfortable charging spot to help them retain their clientele and improve employee satisfaction. Moreover, by renting out their spaces for the CaaS business model, businesses, industries, land, and even residential area owners can
generate additional revenue while benefiting the environment and society. These benefits are fostering service adoption in the market.
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Charging As A Service Market Report Highlights
The subscription segment is expected to witness significant growth during the forecast period. This service model has been seen as a sustainable and popular business model. It divides the cost of charging an electric vehicle into monthly/variable payments, which reduces the burden of paying the upfront cost of installing and maintaining the charging infrastructure ï‚·
The DC charging station segment is expected to expand at a substantial CAGR during the assessment period. DC charging is a faster charging option as compared to AC charging. DC chargers have an inbuilt converter that converts AC into DC, lowering the charging time. By deploying DC charging stations via CaaS, CaaS providers can capitalize on more customers since it has less waiting and charging time ï‚·
The commercial segment is expected to witness significant growth through 2030. It includes office buildings, hospitality, multi-facility units, parking garages, and others. CaaS installed at these commercial premises can benefit both providers and end users ï‚·
By offering CaaS at commercial premises, providers can leverage the high EV-driving traffic. At the same time, end users can reduce their vehicle’s range anxiety by accessing charging at such common and accessible spots, which fosters the growth of the segment  Asia Pacific dominated the regional market in 2021. The growth can be attributed to a broader customer base and the presence of a substantial number of charging as a service providers in the region. Encouraging government initiatives to promote electric vehicles and CaaS also bodes well for the regional market's growth
Charging As A Service Market Segmentation
GrandViewResearchhassegmentedtheglobalchargingasaservicemarketbasedon service,chargingstation,application,and region:
Charging As A Service Service Outlook (Revenue, USD Million, 2017 2030)
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Charging As A Service Charging Station Outlook (Revenue, USD Million, 2017 2030)
ACCharging
DCCharging
Charging As A Service Application Outlook (Revenue, USD Million, 2017 - 2030)
Commercial o Hospitality o ParkingGarage o OfficeBuildings o Multi-familyUnits o Others
Charging As A Service Regional Outlook (Revenue, USD Million, 2017 2030)
NorthAmerica o U.S. o Canada
Europe o Netherlands o U.K. o France o Norway o Germany
AsiaPacific o China
o Japan o India o SouthKorea
LatinAmerica o Brazil
MiddleEast&Africa o SaudiArabia
List of Key Players in the Charging As A Service Market
ChargePointHoldings,Inc.
ShellRechargeSolutions
EVConnect
EVSafeChargeInc
BlinkChargingCo.
LightningeMotors
SemaConnect
CATEC
WattLogic,LLC
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Why Purchase this Report?
A strong research methodology was followed to collect data for the report. The data collected in this way are subjected to several quality checks to provide the best quality.
The report provides a holistic view of the competitive Charging As A Service Market.
The latest product launches, along with technological changes and developments, are included in the report.
The data analysis in the report will help you understand the Charging As A Service Market dynamics projected from 2022 2030
The Report has a vast data store, so it can accommodate your custom needs as well.
Highlights Points of the Market:
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The latest information on how the market is evolving to formulate their sales and marketing strategies. This Market report has been created to provide its readers with up to date information and analysis to uncover emerging opportunities for growth.
The market report covers the key challenges, competitive landscape, and demographic analysis that can help companies get insight into the country specific variations.
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The analysts also emphasize on the key trends and the future opportunities that can be explored in the region than can help companies in revenue expansion.
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To gain competitive intelligence about leading companies with information about their market share and growth rates.
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