Dismantled Electric Vehicle Software Market Presents €1.9 Billion Potential

Dismantled Electric Vehicle Software Market Presents €1.9 Billion Potential - Who's Taking the Lead?

The European market for Electric Vehicle (EV) charge points is undergoing rapid transformation, with several key players vying for a significant share. The market, while currently fragmented, is projected to expand significantly over the next few years, reaching approximately 38 million charge points by 2030.

One of the defining features of this market is the need for innovation and adaptation. Leading companies, such as Wolters Kluwer with its CCH Tagetik platform, are noted for their strong functionalities in consolidation, financial close, planning, and Environmental, Social, and Governance (ESG) considerations, indicating a significant role in shaping the market. However, the exact market share evolution from 2022 to 2024 is not specified in the available data.

Consolidation and regional expansion are key strategies being employed by providers to increase their market presence. Player B, for instance, has successfully increased its public charge point coverage from 32,000 to 53,000 during the same period. Similarly, Player D has seen its share of public charge points under management grow from 37,000 in 2022 to 61,000 in 2024.

The market remains highly competitive, with the top three providers collectively holding just 20% of the European market. This competition is driving providers to utilise acquisitions for rapid growth and expansion, and to adapt their revenue models for higher utilization.

Despite representing only 6% of installed units, public and workplace chargers will deliver 57% of the energy needed for EVs. These chargers rely on advanced software systems for management, billing, and smart integration with energy grids. In contrast, home chargers will make up 87% of total charge points in Europe.

Success in this market requires not only innovation and adaptation but also the ability to anticipate market needs and adapt swiftly. Providers must also invest in research and development to stay ahead of the curve. BCG has identified five key strategies for providers to thrive, with the winners being those who can effectively navigate challenges to shape the EV revolution.

However, the story of the European CPMS market is not without its challenges. Player A, a previous market leader, has seen its market share plummet from managing over 41,000 public charge points in 2022 to just 17,000 by 2024. This serves as a reminder that even the most established players must remain agile and adaptable to stay competitive.

The CPMS market is projected to grow at a compound annual growth rate (CAGR) of 21%, reaching €1.050 million by 2030. As the market continues to evolve, it will be interesting to see how providers continue to adapt and innovate to meet the growing demand for EV charge points across Europe.