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Electric Vehicle Communication Controllers Market By System (Vehicle-based Communication Controller, Supply Equipment Communication Controller (SECC)) By Charging Type (Wired Charging, Wireless Charging)- Growth, Share, Opportunities & Competitive Analysis, 2015 – 2027

Market Insights

The global Electric Vehicle Communication Controllers Market is expected to cross-market value of USD 301.36 million in 2027 from USD 57.23 million in 2020. It is expected to grow at a CAGR of over 31.9% during the forecast period.

Global Electric Vehicle Communication Controllers Market

Using an electric vehicle communication controller creates a connection between the electric vehicle and the battery, allowing for fast Charging. Somehow, the electric vehicle communication controller doesn't only derive power from the electric vehicle supply equipment, but it also serves as a conduit for data exchange between the vehicle's electronic control unit and the external charger. Credence Research is offering holistic information and absolute accuracy in the report titled "Global Electric Vehicle Communication Controllers Market."

Key Market Drivers and Restraints

Factors that greatly impact the market growth of industrial electric vehicles will be covered here. Also, covers factors that may challenge or act as an opportunity for the market will be discussed to identify revenue generation.

Global Electric Vehicle Communication Controllers Market

Supporting Initiatives from Government

The government's initiative and support for electric vehicles, such as lowering the interest rate and tax rate on vehicle loans, is expected to fuel demand for electric vehicles, which will directly affect the market for electric vehicle communication controllers. In addition, the impending energy calamity and the need to minimize greenhouse gas discharge have prompted car creators to make substantial efforts to reduce their vehicles' energy consumption, and they are currently designing vehicles that are entirely or partially powered by electricity, which is driving demand for hybrid and electric vehicles and indirectly impact electric vehicles.

Global Electric Vehicle Communication Controllers Market

Asia-Pacific to Dominate the global market

On the geographic front, the global market comprises six regions with all key economies pertaining to it. Credence Research provides in-depth insight into prominent regions of the global market. Asia-Pacific dominated with over 67.21% share in 2020.

Global Electric Vehicle Communication Controllers Market

The Vehicle-based Communication Controller leads Global Market.

Vehicle-based Communication controllers and Supply Equipment Communication controllers (SECC) are the two global market systems. Consequently increased demand for progressive charging stations like EV charging kiosks, the SECC segment is expected to grow at the fastest rate over the forecast period. The Vehicle Identification Number (VID) and access card details are authenticated using EVCC in a charging booth.

Wired Charging continues to dominate the global market in terms of Charging Type.

Wireless Charging and Wired Charging are two Charging Types in this market. In 2020, wired Charging dominated the market. However, wireless Charging will be highly sought-after among consumers. Numerous automakers and OEMs are working on developing EVCC for wireless charging solutions, which bodes well for the segment's future development. Siemens AG, for example, is currently collaborating with BMW AG on the creation of EVCC for wireless charging solutions.

Global Electric Vehicle Communication Controllers Market

Frequently asked questions about global industry

Supply Equipment Communication Controller and Vehicle-based Communication Controller are the different Systems available in the market

Mitsubishi Electric, LG INNOTEK, Efacec, Siemens, Tesla, ABB ltd., Ficosa Corporation, Engie, Schneider Electric and Vector are the key players operating in this market

Wired Charging Charging Type offers tremendous opportunities to players

Asia-Pacific has the largest share owing to various developments happening in this space

The market is anticipated to grow at a CAGR of 31.9% throughout the forecast period

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Godaddy
Published Date:  May 2021
Category:  Automotive & Transportation
Report ID:   60342
Report Format:   PDF
Pages:   120
Rating:    4.1 (68)
Delivery Time: 24 Hours to 48 Hours   
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