Electric Vehicle Communication Controller Market Global Demand, Opportunities, Trends, Analysis and Forecast to 2030 | (CAGR) of 32%

The global Electric Vehicle Communication Controller market size was estimated at US$ 61 million in 2019. The global Electric Vehicle Communication Controller market is forecast to reach US$ 1292 million by 2030 by growing a compound annual growth rate (CAGR) of 32% during the forecast period from 2021 to 2030.

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EVCC is a component that produces a gateway between the charging station and the car Engine Control Unit to transfer information such as charging data (ECU).

COVID-19 Impact Analysis:

Due to the government-imposed lockdowns in various countries, consumer spending will remain low for the initial few months. Consumers' buying preference has significantly altered the landscape of the market during the COVID-19 pandemic. People eliminated luxury items from their lists, which reduced the sales of automobiles.

Regardless, the electric vehicle market is foreseen to expand in the near future. People are becoming more aware of the negative consequences of pollution caused by automobiles.

COVID-19 would also have a negative impact on shared mobility. Hence, it would fuel the growth of the EV market and the EV communication controller market at the same time.

As people become more aware of the environment and cleaner technologies, their purchasing preferences may change toward electric vehicles.

Factors Influencing

The market for electric vehicle communication controllers has grown in response to the growing popularity of electric vehicles. Furthermore, the market for electric vehicle communication controllers is forecast to witness the same growth during the forecast period, owing to the growing government concerns about lowering carbon footprints. The Indian government has invested approximately Rs 10,000 crore for boosting the manufacturing of the Electric Vehicles (FAME) program, which would run for three years starting from 2019.

The demand for quick charging in EVs would present prominent opportunities for the market players during the analysis period. Plugless company began offering wireless charging for the Tesla Model S, BMW i3, Nissan Leaf. Furthermore, BMW is also preparing to launch a wireless charging pad for its 530e iPerformance hybrid car. Such advancements are expected to boost the growth of the global market for Electric Vehicle Communication Controller (EVCC).

The growing number of charging stations would fuel the growth of the global Electric Vehicle Communication Controller (EVCC) market. Tesla, Inc. recently set up 15,000 superchargers at approximately 1,600 charging stations. As EVCC is used for ECU communication with fast-chargers, the adoption of the technology is predicted to increase during the analysis period.

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The lack of uniformity in charging infrastructure may slow down the growth of the global Electric Vehicle Communication Controller (EVCC) market.

Geographic Analysis

Geographically, the Asia Pacific region would record the maximum revenue in the global Electric Vehicle Communication Controller (EVCC) market. The emerging countries in the region, mainly China, have been witnessed as the leading electric vehicle communication controller market in the region. There are around 2.3 million electric vehicles running on the roads of China.

Market Segmentation

System type

Supply Equipment Communication Controller (SECC)
EV Communication Controller (EVCC)

Vehicle type

Plug-In
Hybrid
Battery Operated
Current type

Alternating current (AC)
Direct current (DC)
Charging type

Wired Charging (Plug-In)
Wireless Charging (Inductive Charging)

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By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

Competitors in the Market

Tesla, Inc.
LG Innotek
BYD Auto
Schneider Electric
ABB Ltd.
Robert Bosch GmbH
Ficosa International S.A.
Mitsubishi Electric
Siemens AG
Vector
Other prominent players

What is the goal of the report?

-The market report presents the estimated size of the ICT market at the end of the forecast -period.

-The report also examines historical and current market sizes.

-During the forecast period, the report analyzes the growth rate, market size, and market valuation.

-The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.

-The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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This release was published on openPR.