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Electric Vehicle Communication Controller Market Size Worth $436.5 Million By 2026 | ABB, Ltd.; BYD Auto; Efacec; Ficosa; LG INNOTEK; Mitsubishi Electric; Robert Bosch LLC Etc.

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Electric Vehicle Communication Controller Market Size Worth $436.5 Million By 2026 | ABB, Ltd.; BYD Auto; Efacec; Ficosa; LG INNOTEK; Mitsubishi Electric; Robert Bosch LLC Etc.

December 14
12:58 2019
Electric Vehicle Communication Controller Market Size Worth $436.5 Million By 2026 | ABB, Ltd.; BYD Auto; Efacec; Ficosa; LG INNOTEK; Mitsubishi Electric; Robert Bosch LLC Etc.

Grand View Research, Inc. – Market Research And Consulting.
The global electric vehicle communication controller (EVCC) market size is expected to reach USD 436.5 million by 2026, registering a CAGR of 32.5% from 2020 to 2026, according to a new report by Grand View Research, Inc.

The global Electric Vehicle Communication Controller market size was valued at USD 61.1 million in 2019, registering a CAGR of 32.5% from 2020 to 2026. The market is driven by increasing adoption of electric vehicles (EV) and advancements in charging solutions. Prominent companies in the market, including Tesla, Inc. and LG INNOTEK, are focusing on development of advanced charging technology. Furthermore, rising demand for fast charging technology is fueling market growth.

On-going developments in wireless charging technology for EVs and associated safety concerns are significantly contributing to the growing demand for EVCC. Various Original Equipment Manufacturers (OEMs) and automotive manufacturers have established partnerships for the development of EVCC and incorporating EVCC in wireless charging technology. For instance, Enide, AB Volvo, Continental AG, and HELLA GmbH & Co. KGaA have collaborated on the UNPLUGGED project aimed at development of wireless charging technology. Rise in the number of EVs is fueling the demand for Vehicle-to-Grid (V2G) technology, through which the automobiles can recharge their battery and simultaneously send back electric energy into the grid, when there is a surge in demand. Increasing adoption of EVCC in the development of V2G technology is accelerating market growth.

U.S. Electric Vehicle Communication Controller (EVCC) market size, by system, 2015 - 2026 (USD Million)

Get Details For “Sample Report, TOC, Segmentation & methodology of Electric Vehicle Communication Controller Market” Click Link Below:

https://www.grandviewresearch.com/industry-analysis/electric-vehicle-communication-controller-evcc-market

Charging Type Insights

The wired charging segment dominated the global electric vehicle communication controller market in 2019 owing to rising need for fast-charging that requires vehicle ECU to communicate with EVSE over a standard protocol. In recent years, there has been a rising demand for fast-chargers, which is a major factor responsible for the growth of the market. Furthermore, growing initiatives by EVSE and automotive manufacturers for the installation and deployment of fast chargers in highway charging stations and other public stations are expected to drive the demand for EVCC. For instance, Tesla, Inc. has, till date, installed more than 15,000 super chargers at 1,600 charging stations located at hotels, highways, wildlife parks, and other public destinations, wherein EVCC allows vehicle ECU communication with fast-chargers. Besides this, surging demand for inverted pantographs with EVCC for charging electric buses has fueled segment growth.

The wireless charging segment is expected to grow tremendously over the forecast period owing to rise in adoption of driverless and ridesharing EVs. In countries such as China and U.S., there has been a rising demand for driverless EVs that mostly use wireless charging technology. Furthermore, various automotive manufacturers and OEMs are engaging in R&D activities to develop EVCC for wireless charging solutions, which bodes well for segment growth. For instance, Siemens AG is currently working with BMW AG for development EVCC for wireless charging solutions.

Europe electric vehicle communication controller market share, by application, 2019 (%)

Would you Like to Take a Look On “Sample Report” of Electric Vehicle Communication Controller Market Click the Link Below:

https://www.grandviewresearch.com/industry-analysis/electric-vehicle-communication-controller-evcc-market/request/rs1

Governments in countries such as U.S., China, and Germany are collaborating with various academic institutions such as Sandia National Laboratories and the University of Delaware for the development of V2G technology. Furthermore, the growing Public-Private Partnerships for the development of EVCC are expected to propel the market. In May 2012, the University of Delaware, Exelon Corporation, various OMEs, and the U.S. government established the Mid-Atlantic Grid Interactive Car Consortium (MAGICC) that focused on the development of EVCC for V2G. The MAGICC project was funded USD 200,000 by the Delaware Green Energy fund, USD 250,000 by Exelon Corporation, and USD 150,000 from Google LLC for R&D.

Further key findings from the report suggest:

  • The Supply Equipment Communication Controller (SECC) communication controller segment is expected to grow significantly owing to rising need for safety while ensuring fast charging

  • The wireless charging technology segment is anticipated to register the highest CAGR over the forecast period owing to numerous benefits offered, such as full autonomy and convenience for EV passengers

  • The Battery Electric Vehicle (BEV) segment is anticipated to grow significantly over the next few years owing to growing initiatives by OEMs toward the development of EVCC for charging stations in cities

  • The commercial segment is expected to grow remarkably over the forecast period owing to rise in the adoption of EVCC in the fleet of logistic and public transport agencies

  • The Asia Pacific market is expected to grow significantly over the forecast period owing to increasing national standards for EV charging interfaces and communications protocols set by the National Energy Administration, China

  • Key players in the electric vehicle communication controller market are ABB, Ltd.; BYD Auto; Efacec; Ficosa; LG INNOTEK; Mitsubishi Electric; Robert Bosch LLC; Schneider Electric; Tesla, Inc.; and Vector.

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Grand View Research has segmented the electric vehicle communication controller market based on system, charging type, electric vehicle type, application, and region:

EVCC System Outlook (Revenue, USD Thousand, 2015 – 2026)

  • Vehicle Based Communication Controller

  • Supply Equipment Communication Controller (SECC)

EVCC Charging Type Outlook (Revenue, USD Thousand, 2015 – 2026)

  • Wired Charging

  • Wireless Charging

EVCC Electric Vehicle Type Outlook (Revenue, USD Thousand, 2015 – 2026)

  • Battery Electric Vehicle (BEV)

  • Plug-In Hybrid Electric Vehicle (PHEV)

EVCC Application Outlook (Revenue, USD Thousand, 2015 – 2026)

  • Passenger Vehicle

  • Commercial Vehicle

EVCC Regional Outlook (Revenue, USD Thousand, 2015 – 2026)

  • North America

    • U.S.

    • Canada

  • Europe

    • Netherlands

    • U.K.

    • France

    • Norway

    • Germany

  • Asia Pacific

    • China

    • Japan

    • South Korea

  • Latin America

    • Brazil

  • Middle East & Africa (MEA)

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 126 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 4126 analysts and consultants, the company adds 121200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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