Charging as a Service Market

The Charging as a service market is predicted to grow from USD 165.9 million in 2025 to USD 2,135.0 million in 2035, with a CAGR of 29.1%. The market is growing rapidly due to increasing public/semi-public charger utilization, growing demand for charging station setup by fleet operators, ride-hailing companies, logistics firms, and commercial property owners without bearing initial charger setup cost, government incentives, and advancements in charging as a service technology. The market for charging as a service is growing beyond traditional public stations, such as fleet-charging spaces/dedicated charging hubs, and commercial workplace installations, as a result of the growing demand for dependable and effective charging options.

The Charging as a Service market is dominated by key players, such as ChargePoint, Inc. (US), Tesla (US), TGOOD Global Ltd. (China), ENGIE (France), and State Grid Corporation of China (China). These players have been adopting strategies to sustain their positions in the market. Major strategies adopted are product launches and deals. These strategies have been analyzed to understand the positions of these companies in the market. Charging service provider focus on maintaining their strategic positions in the market by launching new and advanced services.

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ChargePoint Inc. is a leading provider of EV charging solutions in North America and Europe. It offers networked charging for commercial, fleet, and residential use, with around 286,000 activated charging ports as of January 31, 2024, including 24,000 fast-charging ports. ChargePoint users can access over 631,000 third-party charging ports through roaming integrations via its mobile and in-dash applications. The company provides cloud-based software services, extended warranty solutions, and ChargePoint as a Service (CPaaS), which covers hardware, software, installation, and maintenance with minimal upfront costs. As of October 31, 2024, ChargePoint has delivered 295 million charges, enabling over 12.9 billion electric miles. ChargePoint’s revenue model includes subscription-based software services that enable businesses and fleet operators to manage and optimize their charging stations. Through this SaaS (Software-as-a-Service) model, ChargePoint provides a cloud-based platform that allows customers to monitor charging behavior, conduct predictive maintenance, and perform energy management.

Tesla is a leading manufacturer of EVs and energy generation and storage systems. It designs, develops, and manufactures high-performance fully electric vehicles and EV charging infrastructure, including supercharger stations. The company operates a direct-to-customer sales model and has built a global customer-facing network, which includes vehicle showrooms, service centers, mobile service units, body shops, supercharger stations, and destination chargers. Tesla's charging network spans over 40 countries, including Australia, Canada, the US, the UK, China, France, Germany, and Japan. As of September 2024, Tesla had 6,706 Supercharger stations worldwide, with 62,421 Supercharger connectors and more than 40,000 Global Wall Connectors (Level 2 public connectors). Tesla's EV charging business model is structured around infrastructure monetization, direct revenue generation, and energy ecosystem integration. The Supercharger network is central to this model, providing a controlled, high-speed charging solution. Tesla generates revenue through per-kWh or per-minute charging fees, with operational costs managed through economies of scale, optimized site selection, and government incentives.

TGOOD Global Ltd. is one of Asia's largest providers of EV charging solutions, serving industries such as mining, oil and gas, transportation, power generation, and power distribution. It operates the world’s largest EV charging and MicroGrid system, integrating EV charging, energy storage, and renewable energy with the grid. The company has subsidiaries in Africa, Australia, Germany, the Middle East, and Southeast Asia. TGOOD’s subsidiary, TELD New Energy, builds and operates charging networks for new energy vehicles. By December 2023, the company had over 523,000 public chargers in China and supplied approximately 9.3 billion kilowatt-hours of electricity. TGOOD offers software-as-a-service (SaaS) for remote monitoring and management of charging stations. Operators, such as fleet owners or private companies managing public charging networks, pay a monthly or annual subscription for these services, which include real-time diagnostics, reporting, and updates.

Company Evaluation Matrix: Key Players, 2024

Micro-quadrants provide information about the major players in the charging as a service market, outline the findings, and analyze how well each market player performs within the predefined micro-quadrant criteria. Company evaluations are based on two broad categories, namely product offerings and business strategies. Each category carries various criteria based on which vendors are evaluated. The evaluation criteria considered under product offerings include the breadth and depth of offerings, features, functionality, and focus on product innovations and branding. The evaluation criteria considered under business strategy include the overall revenue and growth rate (past five years), regional presence (based on geographic presence and presence in emerging markets), effectiveness of growth strategies—organic and inorganic, vision alignment, and channel strategy and fit. The analysis is derived using the weighted average method.

Related Reports:

Charging as a Service Market by Charger Type (AC Charger, DC Charger), End Use (Private Charging Setup (Semi-Commercial), Public Charging Setup (Commercial)), Fleet service type (Company Vehicles & Motor Pools) - Global Forecast to 2035

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