COVID-19 In-Depth Analysis: What you need to know today in EV Charging Infrastructure Market
Pune, New York, USA, November 20 2020 (Wiredrelease) Research Dive –:The widespread usage of the fossil fuels for fulfilling the ever-increasing energy requirements of the world has resulted in terrific exhaustion of the non-renewable resources of energy. Moreover, their excessive usage has given rise to threatening vicissitudes in the earth’s atmosphere. Thanks to the marvelous invention of Electric Vehicles (EVs), which have portrayed themselves as an absolute substitute to the ICE-driven traditional automobiles that consume gallons of fuels.
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A huge pool of automobile companies are working toward the development of the EV charging infrastructure industry by setting up charging hubs and other vital EV charging infrastructure, which is significantly boosting the adoption of EVs across the globe. The EV charging industry is considered as a positive initiative toward using clean power and renewable sources of energy, which is curbing the pollution across the globe.
What is an EV Charging Infrastructure?
EV charging infrastructure is an equipment that connects an electric vehicle (EV) to a source of electricity to recharge plug-in electric vehicles—including electric cars, neighborhood electric vehicles and plug-in hybrids. EV charging infrastructure is also referred as electric vehicle charging station, electric recharging point, electronic charging station (ECS), and electric vehicle supply equipment (EVSE). Various innovative advances related to EV charging infrastructure such as intelligent BMS (Battery Management Systems), battery technology, electrochemistry, and ground-breaking Li-ion cell cooling systems have made it possible to charge EVs at outdoor stations within a short duration of time.
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How are Technological Developments Evolving the EV Charging Infrastructure Sector?
Battery Management System (BMS)
An effective BMS is responsible for maintaining appropriate charging as well as discharging of batteries and maintaining them to increase their durability. A well-integrated BMS can evaluate the condition of batteries and can build complex optimization processes that can augment the range, efficiency, and shelf-life of batteries.
Emerging EV charging companies have developed 4-100 Kwh connected BMS designs which can be used by original equipment manufacturers (OEMs) to increase their battery performance by implementing advanced Cloud services. These cloud solutions can assist OEMs in evaluating the battery parameters along with directing other processes and estimating charging fundamentals while traveling around. Moreover, several third-party BMS firms are now independent of Li-Ion Cells and their chemistries, as EVs offer greater flexibility in performance as well as range.
Management and Analytics of Charger
The latest technological developments have enabled EV players to develop advanced IoT hardware that can add “Dumb Chargers” to the cloud network to succeed over numerous faults seen so far in the EV chargers. Smart charging system of EVs use cloud-based monitoring and management. This Charging Management System is vital for the dynamic needs of charging infrastructure. With the help of a dedicated interface, the smart charging system can provide real-time data to EV users about nearby charging station with least queuing delay, minimum charging price, etc. by means of a secured online accessing device for understanding the State of the Charge (SOC) of the EV’s battery being charged.
Security and Energy Management
Similar to any other high voltage device, even an EV charging infrastructure requires expert knowledge for installation and management. Lately, various newly originated EV firms are outspreading industry-standard and compliant electrical architecture to offer state of the art EV charging infrastructure across various regions. Moreover, contractors as well as fleet owners are integrating security management software in the EV charging infrastructure for offering secure, hi-quality, and consistent electrical charging. Usually, Electric Vehicle Charging Management System (EVCMS) is used by residential as well as commercial EV charging site managers to measure, monitor, and control the EV electricity charging loads.
User Applications and Control of Charging Station:
The technological advancements in the field of EV charging will herald a promising effect only if the complete end-to-end processes of EV charging are automated, from detecting a charging point via an innovative user application to handing over the charger for the next user. App-based control guarantees smooth and unified automation of the complete network, providing a scrupulous evaluation of power, control, and security of users. In addition, features such as generating bills for the energy consumed, parking fees, etc. with the due intelligence will guarantee streamlining of the entire value chain. Furthermore, various evolving EV charging companies are offering cutting-edge Energy as a Service (EAAS) to EV fleet owners for making them capable of automating EV charging processes and achieving EV Return on Investment (ROI) at a faster rate.
What is the Future of Electric Vehicles with Advanced Charging Infrastructure?
With the impulse to spread electric mobility across the world, the electric vehicle industry can anticipate to witness a lot of research and development activities around indigenous development and manufacturing. Moreover, a report by Research Dive claims that the global EV charging infrastructure market is expected to grow with a striking growth rate of 34.9% from 2019 to 2026, mainly due to growing adoption of EVs, several pioneering developments in EVs, and growing public perception for the reduction of carbon footprint. As EVs are deployed by foremost OEMs, a huge network for the development of chargers, charging stations, and software & cloud services is progressively being created. Many big brands as well as numerous start-ups, have begun working on the EV charging infrastructure and results are expected to amaze the world very soon.
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