Tuesday, 02 January 2024 12:17 GMT

Demand For Vehicle-To-Grid Aggregator Platform Market Is Forecasted To Reach A Value Of US $2.69 Billion By 2029


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How Large Will The Vehicle-To-Grid Aggregator Platform Market Be By 2025?
The market size for the vehicle-to-grid aggregator platform has seen a tremendous expansion in the past few years. It is projected to escalate from $0.99 billion in 2024 to $1.22 billion in 2025, with a compound annual growth rate (CAGR) of 22.4%. The surge in growth during the historical phase can be credited to factors such as the early adoption of electric vehicles, the initial provision of government subsidies for EV charging, the commencement of pilot projects for grid integration, an increase in the consciousness of carbon reduction, and a rise in investment towards smart grid infrastructure.

The market size for the vehicle-to-grid aggregator platform is forecasted to experience exponential growth in the upcoming years, reaching $2.70 billion in 2029 with a CAGR of 22.0%. This growth in the projected period is largely due to factors such as the growing need for managing peak load, the accelerated growth of renewable energy incorporation, robust electrification of public transport fleets, the increasing use of artificial intelligence in energy platforms, and the corporate world's escalating commitment towards net zero targets. Notable trends anticipated during the forecast period encompass the widespread use of bidirectional charging, greater integration with renewable microgrids, quick fleet electrification participation in V2G, the expansion of blockchain-enabled energy trading, and the enforcement of rigorous government regulations for zero-emission vehicles.

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What Are The Major Driving Forces Influencing The Vehicle-To-Grid Aggregator Platform Market Landscape?
The vehicle-to-grid aggregator platform market is anticipated to flourish due to the increasing adoption rate of electric vehicles. These are vehicles operated by rechargeable electric batteries instead of the conventional gasoline or diesel. Governmental inducements and policy support, such as tax credits and purchase subsidies, majorly fuel this adoption as they make electric vehicles more affordable for consumers by reducing initial costs. A vehicle-to-grid aggregator platform provides a way for these electric vehicles to both draw energy from and supply back to the grid, enabling revenue generation opportunities and aiding fleet operators to reduce energy costs, optimize battery usage, and support the stability of the grid. For example, the U.S. Energy Information Administration reported in January 2024 that combined sales of hybrid, plug-in hybrid electric, and battery electric vehicles had climbed to 16.3% of total new light-duty vehicle sales in the US in 2023, an increase from 12.9% in 2022. This surge in electric vehicle adoption is thus propelling the growth of the vehicle-to-grid aggregator platform market.

Who Are The Top Players In The Vehicle-To-Grid Aggregator Platform Market?
Major players in the Vehicle-To-Grid Aggregator Platform Global Market Report 2025 include:
. E.ON SE
. ENGIE SA
. Siemens AG
. Nissan Motor Co. Ltd
. Schneider Electric SE
. ABB Ltd
. NextEra Energy Inc.
. EDF Energy Holdings Limited
. ChargePoint Holdings Inc.
. Enel X North America Inc.

What Are The Main Trends, Positively Impacting The Growth Of Vehicle-To-Grid Aggregator Platform Market?
Key players in the vehicle-to-grid aggregator platform market are directing their attention towards developing advanced features in their products. Examples of this include artificial intelligence-assisted charge management systems that significantly improve operational efficiency and revenue optimization for fleet managers. This AI-based management of charges uses predictive analytics to determine vehicle paths, battery charge levels, and charging requirements. This information is valuable in accurately and timeously managing charging and discharging cycles, and also reduces human error. For instance, Astrea AI was introduced into the GIVe software platform by Nuvve, a US-based V2G technology firm, in July 2023. This was achieved through the integration of its FleetBox charge management app, which enabled improved accuracy and convenience in fleet management. This includes managing routes, battery charge levels, charging status, equipment for charging, and reports. Astrea AI also actively predicts accurate vehicle departure times, saving time, reducing human error, and creating more V2G revenue opportunities. Furthermore, the technology provides detailed statistical information about the use of vehicles and infrastructure, thereby improving the efficiency and financial benefits of managing electric fleets.

Market Share And Forecast By Segment In The Global Vehicle-To-Grid Aggregator Platform Market
The vehicle-to-grid aggregator platformmarket covered in this report is segmented –
1) By Component: Software, Hardware, Services
2) By Vehicle Type: Battery Electric Vehicles, Plug-In Hybrid Electric Vehicles, Fuel Cell Electric Vehicles
3) By Deployment Mode: On-Premises, Cloud
4) By Application: Residential, Commercial, Industrial, Utilities, Other Applications

Subsegments:
1) By Software: Energy Management Software, Fleet Management Software, Charging Optimization Software, Demand Response Software, Vehicle-To-Grid (V2G) Communication Software
2) By Hardware: Bidirectional Chargers, Smart Meters, Power Converters, Communication Modules, Energy Storage Systems
3) By Services: Aggregation Services, Installation And Commissioning Services, Operation And Maintenance Services, Consulting Services, System Integration Services

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Vehicle-To-Grid Aggregator Platform Market Regional Insights
In 2024, Europe led the global market for vehicle-to-grid aggregator platforms. The anticipated growth status of this region was included in the 2025 report. The report analyzed various regions globally: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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