PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1584088
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1584088
The Electric Vehicle Communication Controller Market size was valued at USD 186.02 million in 2023, expanding at a CAGR of 33.40% from 2024 to 2032.
The Electric Vehicle Communication Controller (EVCC) is an essential component of rechargeable electric vehicles, facilitating communication with charging stations. It acts as the communication interface between the electric vehicle and a range of external systems, including charging infrastructure, the power grid, and other vehicles. By enabling data exchange, implementing protocols, and interacting with charging networks, the EVCC plays a crucial role in advancing sustainable transportation solutions.
Electric Vehicle Communication Controller Market- Market Dynamics
Rising Demand for Electric Vehicles and the Development of Charging Infrastructure are expected to drive the growth of the market.
As the prevalence of electric vehicles on the roads continues to rise, there is an increasing demand for a comprehensive charging infrastructure. The development of both public and private charging stations necessitates sophisticated communication systems to ensure efficient and dependable charging operations. The electric vehicle market is experiencing significant growth, with sales approaching 14 million units in 2023. Projections indicate that EV sales will maintain strong momentum into 2024. In the first quarter alone, over 3 million electric cars were sold, reflecting a 25% increase compared to the same timeframe last year. Additionally, the heightened emphasis on smart grid technology offers a promising opportunity for Electric Vehicle Charging Companies (EVCCs). However, the limited availability of charging infrastructure in certain areas may impede market expansion.
Electric Vehicle Communication Controller Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 33.40% over the forecast period (2024-2032)
Based on System segmentation, vehicle-based Communication Controllerwas predicted to show maximum market share in the year 2023
Based on Charging Type segmentation, Wired Charging was the leading type in 2023
Based on Application segmentation, Passenger Vehicles was the leading type in 2023
Based on region, Asia Pacific was the leading revenue generator in 2023
The Global Electric Vehicle Communication Controller Market is segmented based on System, Electric Vehicle, Charging Type, Application, and Region.
The market is segmented into three categories according to the System: Vehicle-based Communication Controller and Supply Equipment Communication Controller (SECC). The Vehicle-based Communication Controller holds a dominant position in the market. This type of communication control pertains to the administration of multiple communication protocols and systems that enable interaction between the vehicle and its surrounding environment.
The market is categorized into two segments concerning Electric Vehicles: Battery Electric Vehicles (BEVs) and Plug-In Hybrid Electric Vehicles (PHEVs). As communication technologies progress, they will facilitate improved energy management, elevate user experience, and aid in the shift towards electric mobility.
The market is categorized into two segments according to Charging Type: Wired Charging and Wireless Charging. Wired Charging holds a dominant position in the market. This method, especially when utilizing standards such as CCS (Combined Charging System) and CHAdeMO, depends on effective communication between the electric vehicle and the charging station, which is overseen by the Electric Vehicle Communication Controller (EVCC).
The market is categorized into two segments based on application: Passenger Vehicles and Commercial Vehicles. Passenger Vehicles hold a dominant position in the market. The enhancement of charging efficiency, vehicle management, and the overall user experience is crucial for passenger vehicles.
Electric Vehicle Communication Controller Market- Geographical Insights
This market is geographically extensive, encompassing North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These areas are further segmented based on the countries contributing to business activities. The Asia Pacific region leads the market, primarily due to the expansion of fast-charging networks and smart charging solutions. Notably, countries within Asia Pacific, especially China, are experiencing a swift rise in electric vehicle adoption. This increase necessitates the development of comprehensive fast-charging networks to accommodate the growing fleet of electric vehicles. As of 2022, China has established the largest public charging infrastructure globally, boasting a public charger inventory of 1 million, which accounts for 51% of the worldwide total, and a total rated power exceeding 56 gigawatts, as reported by the International Council on Clean Transportation. Europe ranks as the second-largest region for market growth, driven by advancements in autonomous driving technology.
Organizations are allocating resources towards research and development to design sophisticated communication controllers that align with emerging standards such as ISO 15118 and various vehicle-to-everything (V2X) communication protocols. Innovations in smart charging solutions, cybersecurity measures, and vehicle-to-grid (V2G) technologies are essential for securing a competitive advantage. Major players are implementing strategies that include mergers and acquisitions, strategic partnerships, and geographic expansion to strengthen their market position. Additionally, companies are targeting emerging markets to leverage the increasing demand for electric vehicles. The EVCC market is undergoing rapid transformation, necessitating that companies remain at the forefront of technological progress to sustain competitiveness. This demands ongoing investment in research and development and the agility to adapt swiftly.
Bosch offers access to over one million charging stations globally. According to a study conducted by the German Association of Energy and Water Industries (BDEW, PDF), charging, along with range and expenses, ranks among the primary concerns of vehicle operators. To address this issue, Bosch is advancing its proprietary platform, marking a significant step towards improved accessibility to charging infrastructure.
ABB's Terra AC Wallbox product family is now accessible through designated ABB Installation Product electrical distribution partners throughout Canada, establishing a new benchmark for electric vehicle (EV) charging infrastructure. These solutions provide customized, intelligent, and interconnected charging options suitable for various environments, including businesses, residential areas, commercial or public facilities, workplaces, multifamily housing, and fleet parking areas.