Report reveals how cellular IoT streamlines the orchestration, administration, and maintenance of EV charging stations, decreasing annual monitoring costs by 15%.
By implementing cellular IoT, mid-size EV charging providers can increase revenue by 40%, as a result of interoperability revenue share.
The report highlights the value of cellular IoT in connecting and orchestrating electric vehicle (EV) charging stations. As consumers, governments, and the automotive industry look toward a more sustainable and efficient alternative to fossil-fueled vehicles, EV charging providers recognize a business growth opportunity.
However, they are facing the challenge of effectively operating and maintaining a fast-growing number of charging stations, and ensuring that stations are utilized and profitable, while offering a seamless charging experience to their customers.
Another advantage of cellular IoT connectivity is its built-in security measures to protect data and sensitive information, creating an immediate value add in addition to reliable coverage no matter the location.
The report analyzed a European, medium-sized EV charging firm with
40% revenue increase due to interoperability, i.e., revenue share from its customers using other EV charging providers' stations.
About 15% decrease in annual monitoring costs, as a result of remote monitoring - saving time and effort associated with physical inspections.
More rapid response times to technical issues, improving uptime and customer experience, as a result of remote monitoring.
Other stakeholders benefit as well. For instance, a parking operator who owns connected charging stations can earn additional revenues as a result of IoT-enabled interoperability.
'This report demonstrates the value of cellular IoT connectivity in keeping up with the fast-paced growth of EV charging networks. Ericsson IoT Accelerator provides vital capabilities, including subscription lifestyle management, service management, and business insights - enabling EV charging providers to deploy, manage and scale their IoT-powered business from a single connectivity management platform,' says
With inevitable disruptions on the horizon including the ongoing energy crisis, the demand for EVs has provided cities and governments with challenges as they struggle to keep up with the growing need to ensure steady adoption of new infrastructure. Through cellular IoT, EV charging companies can manage complex stakeholder ecosystems, from drivers to hardware providers by enhancing network functionalities, while simultaneously building a solid, future-proof foundation to scale their business.
EV charging providers and other ecosystem stakeholders can calculate the potential value of cellular IoT connectivity to their business using
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