EV Charging Software Market to Reach $11.1 Billion by 2032 at 28.9% CAGR

Allied Market Research

Rise in sales of electric vehicles and government initiatives toward a pollution-free environment are expected to propel the growth of the global EV charging software market.

NEW CASTLE, Del., May 9, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "EV Charging Software Market by Charging Site (Public and Private), Charger Type (Level 1, Level 2, and Level 3), and Vehicle Type (E-2Wheeler, E-3Wheeler, E-car (personal), and E-car (commercial)): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the "EV charging software market" was valued at $1.1 billion in 2023, and is estimated to reach $11.1 billion by 2032, growing at a CAGR of 28.9% from 2024 to 2032.

Prime Determinants of Growth

Rise in sales of electric vehicles and increase in government initiatives toward a pollution-free environment are factors expected to propel the growth of the global EV charging software market. However, risk of cyber-attacks is anticipated to hamper the growth of the global market. On the contrary, increase in demand for 5G and IoT in charging stations is expected to create lucrative opportunities for the growth of the global market. 

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Report Coverage & Details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2023
Market Size in 2023	$1.1 Billion
Market Size in 2032	$11.1 Billion
CAGR	28.9 %
Segments covered	Charging Site, Charger Site, Vehicle Type, and Region.
Drivers