Electric Vehicle Communication Controller Market outlook – 2027
Rise in income of middle-class families and improved standards of living in developing and developed countries have increased the sales of vehicles. Electric vehicle communication controller is a key component to support communication between vehicle and charger for rapid charging of electric vehicle. The electric vehicle communication controller receives electricity from the electric vehicle supply equipment. Additionally, the controller is used to exchange information mutually through communication between external charger and vehicle ECU. Moreover, with technological advancement and rising adoption of electrical vehicles, the demand for electric vehicle communication controller market will continue to grow.
COVID-19 scenario analysis:
- The crisis in the car industry began in February, when the COVID-19 outbreak in China forced factories to close, and sales in the country.
- Consumer spending will remain low for initial few months of lockdown as per the economists and buying preference will shift toward essential item than luxuries. This will affect the automotive industry.
- Despite everything, the EV market tends to grow in near future. People are understanding the drawbacks of pollution occurred due to vehicles. Additionally, shared mobility would face a downfall due to COVID-19, thereby fueling EV market and EV communication controller market simultaneously.
- The consumer buying preference might be seen to shift towards EV due to awareness for environment & cleaner technologies.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Increasing adoption of EV has amplified the market of electric vehicle communication controller. Additionally, government concerns over reducing carbon footprints is driving the market of electric vehicle communication controller. Besides, the demand for fast charging in EV would proliferate the market growth. Moreover, automakers focus on developing EV and electric vehicle communication controller will favor the market growth. However, unavailability of EV infrastructure would hinder the market growth. Further, the investments made by countries in development of public EV charging station infrastructure along with governments subsidies and tax benefits for use of EV will proliferate the market growth.
The Electric Vehicle Communication Controller market trends are as follows:
Wireless car charging
In wireless charging, electricity is transferred from one magnetic coil in the charger to a second magnetic coil fitted to the car through an air gap. Accordingly, Plugless company has started selling wireless charging for the Tesla Model S, BMW i3, Nissan Leaf and first-generation Chevrolet Volt. In addition, BMW is planning to wireless charging pad for its 530e iPerformance hybrid car. Moreover, Siemens AG is currently working with BMW AG for development of electric vehicle communication controller for wireless charging solutions.
Increasing focus on developing EV infrastructure
Considering the advantages offered by EV, the governments are focusing to increase its adoption. Various governments are spending on developing infrastructure and offering tax and other benefits to vehicle owners. For instance, government of India approved a total budgetary support of Rs 10,000 crore for Faster Adoption and Manufacturing of Electric Vehicles (FAME) in India for three years commencing from April 1, 2019. Additionally, OEMs investments are also favoring EVCC market. For instance, Tesla, Inc. has installed more than 15,000 super chargers at 1,600 charging stations located at public destinations, wherein EVCC allows vehicle ECU communication with fast-chargers.
Key benefits of the report:
- This study presents the analytical depiction of the Electric Vehicle Communication Controller industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the Electric Vehicle Communication Controller market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the electric vehicle communication controller market research report:
- What are the leading market players active in the electric vehicle communication controller market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Electric Vehicle Communication Controller Market Report Highlights
By System type
By Vehicle type
By Current type
By Charging type
Key Market Players
LG Innotek, Vector, Tesla, Mitsubishi Electric, ABB, Robert Bosch LLC, Siemens, Efacec, Ficosa, Schneider Electric