What is Charging as a Service Market?
Charging as a Service (CaaS) is a subscription-based EV charging bundle that presents turnkey EV charging options with minimal upfront buying costs. Charging-as-a-Service answer assumes accountability for all elements of charging EV fleet, from EVSE procurement and installation to operations and upkeep and beyond. Bundle CapEx, OpEx, electricity costs, and incentives into a constant rate, permitting fleet operators to forecast and manipulate charges long-term. An electric automobile charging community is an infrastructure gadget of charging stations to recharge electric powered vehicles. Many government, auto manufacturers, and charging infrastructure vendors sought to create networks. Although batteries can solely be charged with DC power, most electric powered automobiles have an onboard AC-to-DC converter that permits them to be plugged into a fashionable family AC electrical receptacle. Inexpensive low-power public charging stations will additionally grant AC power, recognized as "AC charging stations". To facilitate greater energy charging, which requires tons large AC-to-DC converters, the converter is constructed into the charging station as a substitute of the automobile and the station elements already-converted DC energy at once to the vehicle, bypassing the vehicle's onboard converter. These are recognised as "DC charging stations". Most absolutely electric powered vehicle fashions can receive each AC and DC power.
Highlights from Charging as a Service Market Study
|Unit||Value (USD Million)|
|Key Companies Profiled||BYD (China), Shinry (China), Panasonic (Japan), Webasto (Germany), Toyota Industries (Japan), Nichicon (Japan), Leviton (United States), IES Synergy (France) and Auto Electric Power Plant (China)|
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Research Analyst at AMA predicts that Global Manufacturers will contribute to the maximum growth of Global Charging as a Service market throughout the forecasted period. BYD (China), Shinry (China), Panasonic (Japan), Webasto (Germany), Toyota Industries (Japan), Nichicon (Japan), Leviton (United States), IES Synergy (France) and Auto Electric Power Plant (China) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Pod Point (United Kingdom), Clipper Creek (United States), Xuji Group (China) and Eaton (Ireland).
Charging as a Service Market Segmentation:
|Application / End User||Residential Charging, Commercial Charging and Workplace Charging|
|Charging Level||Level 1,Level 2,Level 3|
|Charging Station||AC Charging Station,DC Charging Station,Inductive Charging Station|
On the basis of geography, the market of Charging as a Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Building a Better Charging Infrastructure and Modernizing the Electric Grid
Market Growth Drivers:
Increasing Sales of the Electric Vehicles and Rise in Number of Convenience Charging Stations in Both Developed and Developing Economies
Battery Technology Gap & Lithium Plating, Long Charging Time and Increase in Energy Demands With Exploding EV Sales
High Cost and Infrastructure Limitation
Increasing the Fleet of Evs and Charging Infrastructure Will Be Key to Improving Air Quality in Cities, Adoption of Newer EV Charging Technologies and Scaling EV Charging Infrastructure with a Focus on Interoperability
Key Target Audience
Charging as a Service Provider, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
In 2019, Panasonic introduced the launch of clever EV charging carrier in India imparting charging stations, swap stations, board prices and so on.