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Global Charging as a Service Market to reach USD 1062.17 million by the end of 2029

Global Charging as a Service Market Size study & Forecast, by Type of Service (Subscription, Hosted, Financed) by Charging Station (AC Charging, DC Charging), by Application (Commercial, Residential) and Regional Analysis, 2022-2029

Product Code: ICTNGT-34326129
Publish Date: 25-01-2023
Page: 200

Global Charging as a Service Market is valued at approximately USD 208.1 million in 2021 and is anticipated to grow with a healthy growth rate of more than 22.6% over the forecast period 2022-2029. Charging as a Service (CaaS) is a type of subscription-based EV charging package that offers complete EV charging services with minimal up-front expense. Instead of paying all upfront fees at once, an individual might pay a monthly subscription price over a set period. Charging-as-a-service, or CaaS, offers many benefits to EV charging service providers as it eliminates the burden of dealing with installation, ownership, and maintenance costs. The market growth is primarily driven by the factors such as increasing investment in boosting the overall cost efficiency of CaaS, a rising number of favorable government initiatives, and surging demand for public charging infrastructure.

The increasing demand for electric vehicles is directly associated with the demand of charging as a service owing to it providing an efficient infrastructure for a rapid, accessible, and easy charging experience for the electric vehicle. As per the Statista report, in 2020, there were approximately 2.9 million hybrid electric vehicles manufactured globally. Also, the number is projected to grow and reached 5.4 million vehicles by the year 2025. Therefore, the increasing adoption of electric vehicles among the population is propelling the market demand across the globe. Moreover, the insufficient charging infrastructure for electric vehicles, as well as the increasing focus on lowering upfront costs are presenting various lucrative opportunities over the forecasting years. However, the lack of standardization of electric vehicle charging and the high cost of electric vehicles is challenging the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Charging as a Service Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the market in terms of revenue, owing to the increasing adoption of electric vehicles and the rising number of favorable government initiatives. Whereas, Europe is also expected to grow with the highest CAGR during the forecast period, owing to factors such as significant demand for charging infrastructure and charging-as-a-service, as well as the active participation of government and market players in the market space.

Major market players included in this report are:
ChargePoint Holdings, Inc.
Shell Recharge Solutions
EV Connect
EV Safe Charge Inc
Blink Charging Co.
Lightning eMotors
WattLogic, LLC
Bp pulse

Recent Developments in the Market:
 In April 2022, InCharge Energy declared the introduction of “InCharge as a Service”- an EV charging subscription that presents commercial fleets with the charging infrastructure they need on a monthly or variable basis without owning and operating infrastructure themselves.

Global Charging as a Service Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type of Service, Charging Station, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type of Service:
By Charging Station:
AC Charging
DC Charging
By Application:
By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Million)
1.2.1. Charging as a Service Market, by Region, 2019-2029 (USD Million)
1.2.2. Charging as a Service Market, by Type of Service, 2019-2029 (USD Million)
1.2.3. Charging as a Service Market, by Charging Station, 2019-2029 (USD Million)
1.2.4. Charging as a Service Market, by Application, 2019-2029 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Charging as a Service Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Charging as a Service Market Dynamics
3.1. Charging as a Service Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing demand for electric vehicles Surging demand for public charging infrastructure
3.1.2. Market Challenges Lack of standardization of electric vehicle charging Increased cost of electric vehicles
3.1.3. Market Opportunities Insufficient charging infrastructure for electric vehicles Increasing focus on lowering upfront costs
Chapter 4. Global Charging as a Service Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Charging as a Service Market, by Type of Service
6.1. Market Snapshot
6.2. Global Charging as a Service Market by Type of Service, Performance – Potential Analysis
6.3. Global Charging as a Service Market Estimates & Forecasts by Type of Service 2019-2029 (USD Million)
6.4. Charging as a Service Market, Sub Segment Analysis
6.4.1. Subscription
6.4.2. Hosted
6.4.3. Financed
Chapter 7. Global Charging as a Service Market, by Charging Station
7.1. Market Snapshot
7.2. Global Charging as a Service Market by Charging Station, Performance – Potential Analysis
7.3. Global Charging as a Service Market Estimates & Forecasts by Charging Station 2019-2029 (USD Million)
7.4. Charging as a Service Market, Sub Segment Analysis
7.4.1. AC Charging
7.4.2. DC Charging
Chapter 8. Global Charging as a Service Market, by Application
8.1. Market Snapshot
8.2. Global Charging as a Service Market by Application, Performance – Potential Analysis
8.3. Global Charging as a Service Market Estimates & Forecasts by Application 2019-2029 (USD Million)
8.4. Charging as a Service Market, Sub Segment Analysis
8.4.1. Commercial
8.4.2. Residential
Chapter 9. Global Charging as a Service Market, Regional Analysis
9.1. Charging as a Service Market, Regional Market Snapshot
9.2. North America Charging as a Service Market
9.2.1. U.S. Charging as a Service Market Type of Service breakdown estimates & forecasts, 2019-2029 Charging Station breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029
9.2.2. Canada Charging as a Service Market
9.3. Europe Charging as a Service Market Snapshot
9.3.1. U.K. Charging as a Service Market
9.3.2. Germany Charging as a Service Market
9.3.3. France Charging as a Service Market
9.3.4. Spain Charging as a Service Market
9.3.5. Italy Charging as a Service Market
9.3.6. Rest of Europe Charging as a Service Market
9.4. Asia-Pacific Charging as a Service Market Snapshot
9.4.1. China Charging as a Service Market
9.4.2. India Charging as a Service Market
9.4.3. Japan Charging as a Service Market
9.4.4. Australia Charging as a Service Market
9.4.5. South Korea Charging as a Service Market
9.4.6. Rest of Asia Pacific Charging as a Service Market
9.5. Latin America Charging as a Service Market Snapshot
9.5.1. Brazil Charging as a Service Market
9.5.2. Mexico Charging as a Service Market
9.5.3. Rest of Latin America Charging as a Service Market
9.6. Rest of The World Charging as a Service Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. ChargePoint Holdings, Inc. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.2.2. Shell Recharge Solutions
10.2.3. EV Connect
10.2.4. EV Safe Charge Inc
10.2.5. Blink Charging Co.
10.2.6. Lightning eMotors
10.2.7. SemaConnect
10.2.8. CATEC
10.2.9. WattLogic, LLC
10.2.10. Bp pulse
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

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To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
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Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
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The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
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