Electric Vehicle Communication Controller Market Dynamics, Growth Segments by Opportunities, Future Demand Status and Business Advancement plans till 2030

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Global Electric Vehicle Communication Controller Market is valued approximately at USD 41.08 million in 2018 and is anticipated to grow with a healthy growth rate of more than 33.90% over the forecast period 2019-2026. Electric vehicle communication controller is a device used for communication amongst the electric vehicle and charger for rapid charging of the electric vehicle. This device not only receives power from electric vehicle supply equipment (EVSE), it also works as the gateway to exchange the data between the vehicle Electronical Control Unit (ECU) and external charger. Increasing sales of electric vehicle, rising government incentives and support towards electric vehicles, increased focus on reduction in carbon emission and heavy investments by automakers in electronic vehicles are the few factor responsible for high CAGR of the market over the forecast period.

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For instance, as per the Edison Electric Institute it is estimated that global electric vehicles sales totaled about 312,000 in Q1 2018, up from nearly 58% compared to Q1 2017. Also, it is estimated that number of electric on the road in the United States, is about 8,90,000 in 2018, an increase from number of electric vehicles of approximately 6,00,000 in 2017. Also, Indian government has approved a scheme to spend $1.4 billion to subsidize sales of hybrid and electric vehicles as part of efforts to reduce pollution and minimize dependence on fossil fuels. Thus, rising production of electric vehicle followed by favorable government initiatives is promoting the sales for electric vehicles thereby, promoting the demand for electric vehicle communication controller around the world. Moreover, use of vehicle-to-grid (V2g) EV charging stations for electric vehicles along with increasing demand for wireless charging safety and convenience are the major factor likely to offer lucrative growth opportunity to the market in the upcoming years. However, lack of standardization in charging infrastructure is one of the factor anticipated to limiting the growth of global electric vehicle communication controller market during the forecast period.

In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years. According to the statistics by GSMA Intelligence, total cellular connections worldwide as of May 2020 was recorded to 10,18 billion.

As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.

The regional analysis of global Electric Vehicle Communication Controller Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of revenue and market share owing to the strict emission regulation standards to cope with increasing emissions, growing demand for electric vehicles and rising industrialization in this region. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as rising government initiatives to reduce tax rate on the electric vehicle, increasing penetration of electronic vehicles and presence of stringent emission norms in the region that would create the lucrative demand for the electric vehicle communication controller across the Asia-Pacific region.

Major market player included in this report are:
LG Innotek
Tesla
BYD Auto
Schneider Electric
ABB
Ficosa
Bosch
Vector
Siemens
Mitsubishi Electric

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By System:
EV Communication Controller (EVCC)
Supply Equipment Communication Controller (SECC)

By Charging Type:
Wired Charging (Plug-In)
Wireless Charging (Inductive Charging)

By Electric Vehicle Type:
Battery Electric Vehicle (BEV)
Plug-In Hybrid Electric Vehicle (PHEV)

By Vehicle Type:
Passenger Car
Commercial Vehicles

By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2016, 2017
Base year - 2018
Forecast period - 2019 to 2026

Target Audience of the Global Electric Vehicle Communication Controller Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2017-2026 (USD Million)
1.2.1. Electric Vehicle Communication Controller Market, by System, 2017-2026 (USD Million)
1.2.2. Electric Vehicle Communication Controller Market, by Charging Type, 2017-2026 (USD Million)
1.2.3. Electric Vehicle Communication Controller Market, by Electric Vehicle Type, 2017-2026 (USD Million)
1.2.4. Electric Vehicle Communication Controller Market, by Vehicle Type, 2017-2026 (USD Million)
1.2.5. Electric Vehicle Communication Controller Market, by Region, 2017-2026 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Electric Vehicle Communication Controller Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. System Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Electric Vehicle Communication Controller Market Dynamics
3.1. Electric Vehicle Communication Controller Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Electric Vehicle Communication Controller Market System Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Electric Vehicle Communication Controller Market, by System
5.1. Market Snapshot
5.2. Global Electric Vehicle Communication Controller Market by System, Performance - Potential Analysis
5.3. Global Electric Vehicle Communication Controller Market Estimates & Forecasts by System 2016-2026 (USD Million)
5.4. Electric Vehicle Communication Controller Market, Sub Segment Analysis
5.4.1. EV Communication Controller (EVCC)

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