Software business opportunities in electric vehicle industry

Software Nov 10, 2021

Hello People. This article discusses about Software business opportunities in electric vehicle industry. Software industry can play an important role in building a sustainable future by making electric vehicle driving the new worldwide standard. It can help customers in the EV industry to optimally manage their charging networks to accelerate the adoption of electric vehicles.

Smart EV charging solutions have a big role to play in EV charging. An advanced cloud-based platform can make it easy for electric vehicle entrepreneurs to manage their charging network. Software platform that combines state-of-the-art technology and easy solutions for managing infrastructures of charge points via open protocols and systems can allow every charge point to connect to the platform.

Software business opportunities in electric vehicle industry

Smart software solutions can be very useful to  charge point operators, electric mobility service providers, utility or energy companies.

Some of the business IT opportunities are as follows

  • Power electronics
  • Big Data/ analytics
  • IoT and Cloud
  • AI/ML
  • Wireless technology
  • Web applications
  • Smartphone apps
  • Robotics and automation
  • Design & Simulation
  • AR/VR for autonomous driving
  • Sensor networks
  • Drones for logistics
  • Fleet management systems
  • Battery charge flow management
  • Shared mobility networks
  • Communication networks (between autonomous vehicles)
  • Bi directional chargers / V2X interfacing
  • Navigation systems

Electric vehicle smart charging technology can be delivered from the cloud. EV Charging points can be connected to this smart charging technology. The charging speed will adapt itself to the amount of available capacity on the grid. The capacity will be divided in a flexible, smart way. Therefore, charging station can make optimal use of the grid capacity and prevent overload.

By using smart charging technology, EV owners can see savings ranging from a lower cost of electricity to payments for the supply of ancillary services to the grid. Wholesale markets and transmission and distribution grid operators can also meet their demand and improve efficiency. A significant amount of off-peak capacity will absorb excess renewable energy production. A more efficient and cost effective energy system will bring monetary benefits to all utility customers.

Software entrepreneurs can provide EV entrepreneurs with the necessary tools to successfully operate their charging infrastructure. The software helps EV entrepreneurs to set up and manage theirs charge points, set pricing schemes and monitor their performance. Also smart charging technology can actively address grid-related issues.

Smart Charging platforms can become compatible with most charging stations on the market via the Open Charge Point Protocol (OCPP). Buildings are not yet adapted for future adoption of charging infrastructure and new energy economies. Expanding the local grid capacity often requires large scale investments. When increasing the building’s grid capacity is too costly, smart charging can still increase the number of vehicles that charge simultaneously. Cloud-based smart charging systems can upgrade a local system’s capacity to charge up to ten times as many vehicles during the day.

The growth of EVs poses both opportunity as well as challenges for utilities and energy companies. On the one hand, the grid should not overload. If too many EV drivers plug in their EV just as the peak is spiking, the demand will even intensify the negative impact on the grid.

However utilities can grasp the opportunities. Charging an EV requires electricity, thus influencing energy bills of EV drivers. EV adoption poses a new interesting era for utilities. They can lead the way in accelerating EV adoption and proper integration of EVs into the grid by adopting smart software technologies.

Utility companies can also play a vital role in contributing to a healthy EV charging infrastructure, modulating charging rates and shifting charging events in order to provide grid services. Moreover, avoiding expensive grid upgrades is another advantage for utilities to use smart charging. No significant transformer upgrades are needed.

Hope this article on Software business opportunities in electric vehicle industry is useful to you. To read about jobs in the Electric Vehicle Industry, please visit Job opportunities in Electric Vehicle Sector and its Charging Infrastructure industry

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