The new report by Expert Market Research titled, ‘Global Electric Vehicle Communication Controller Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global electric vehicle communication controller market, assessing the market based on its segments like systems, charging type, electric vehicle type, and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Value (2020): USD 53 billion.
• Forecast CAGR (2023-2028): 35 %
• Forecast Market Value (2026): USD 321 billion.
The electric vehicle communication controller market is predicted to grow greatly in the commercial vehicle segment, as these vehicles are used for long-distance transport and delivery of big cargoes and require high range and reliability. The electric vehicle communication controller can play a critical role in these vehicles by assisting in the rapid charging of the engine.
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Industry Definition and Major Segments
The electric vehicle communication controller is a critical component that allows communication between a vehicle and an electric vehicle charger for rapid charging. The electric vehicle communication controller serves as a conduit for information exchange between an internal battery and the vehicle’s ECU.
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Based on systems, the market is bifurcated into:
• EV Communication Controller (EVCC)
• Supply Equipment Communication Controller (SECC)
Based on charging types, the market is divided into:
• Wired Charging (Plug-In)
• Wireless Charging (Inductive Charging)
Based on electric vehicle type, the market is categorised into:
• Battery Electric Vehicle (BEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
The regional markets for global face mask market panel:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The increased demand for electric vehicles is driving market expansion. The growing need for quick charging is likely to fuel the electric vehicle communication controller market in the passenger vehicle segment. The increasing sales of electric buses have contributed to the rise of the electric bus segment, particularly in China.
Several countries are projected to replace their current fuel-powered bus fleet with electric buses. The growing trend of replacing fossil-fuel-powered public transportation fleets with electric buses is predicted to stimulate the expansion of the commercial electric vehicle market, which in turn will feed the growth of the electric vehicle communication controller sector.
Key Market Players
The major players in the market are Tesla Inc. (NASDAQ: TSLA), BYD Company Ltd, Schneider Electric SE, Efacec Power Solutions, S.G.P.S. S.A, Robert Bosch GmbH 2018, Vector, LG Corp, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, mergers and acquisitions, among other latest developments of these market players.
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