“Global Electric Vehicle Communication Controller Market to reach a market value of USD 1.5 Billion by 2031 growing at a CAGR of 32.7%”
The Global Electric Vehicle Communication Controller Market size is expected to reach $1.5 billion by 2031, rising at a market growth of 32.7% CAGR during the forecast period.
Provincial incentives such as rebates in provinces like British Columbia and Quebec encourage EV purchases, further boosting the demand for EVCC systems. Canada’s extensive geography also necessitates the development of a wide-reaching EV charging infrastructure. The Electric Vehicle Infrastructure Demonstration (EVID) program is an example of the government's commitment to expanding the charging network, increasing the need for reliable EV communication systems to handle long-distance travel and nationwide charging conditions. Thus, the North America market acquired 30% revenue share in the market 2023.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In September, 2024, Vector Informatik GmbH has launched MICROSAR Classic Release 32, now fully supporting ISO 15118-20 to enhance Electric Vehicle Communication Controllers (EVCC). This release introduces advanced charging use cases such as Bidirectional Power Transfer, Wireless Power Transfer, and bolstered security with cutting-edge encryption and authentication protocols. Additionally, In September, 2024, Schneider Electric has launched an AI-powered feature for the Wiser Home app, optimizing energy management for water heaters and EV chargers. This innovative solution enhances energy efficiency, reduces bills, and supports homeowners with smart management, especially those with solar panels.
Based on the Analysis presented in the KBV Cardinal matrix; Tesla, Inc. is the forerunners in the Electric Vehicle Communication Controller Market. Companies such as Siemens AG and ABB Group are some of the key innovators in the Electric Vehicle Communication Controller Market. In September 2024, Siemens is expanding its eMobility business by merging it with Heliox to create a dedicated legal structure, enhancing agility and focus on the electric vehicle charging market. This expansion aims to increase profitability, foster new partnerships, and support sustainable transport electrification.
EVCCs manage crucial functions such as charging initiation, monitoring battery health, and optimizing power delivery, all of which are essential for the smooth operation of fast-charging stations. Hence, this trend is expected to continue fueling the need for EVCC systems as fast-charging infrastructure becomes a critical component of the global EV ecosystem.
Additionally, these systems are essential for managing critical functions such as charging authentication, energy management, and communication with the grid. Therefore, as more automakers launch new electric models and expand production capacity, the need for efficient communication between EVs and charging stations will continue to grow, driving the demand for EVCCs.
Integrating EVs into commercial operations requires reliable and secure communication between vehicles, charging stations, and backend systems. A breach in these networks could disrupt business activities, compromise sensitive data, and lead to financial losses. Thus, concerns about cybersecurity and data privacy hamper the market's growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies to cater to demand coming from the different industries. The key developmental strategies in the market are Product Launches and Product Expansions.
Based on system, the market is bifurcated into vehicle-based communication controller and supply equipment communication controller (SECC). The supply equipment communication controller (SECC) segment procured 34% revenue share in the market in 2023. SECCs facilitate communication between electric vehicles and charging stations, particularly in fast-charging environments.
On the basis of charging, the market is classified into wired charging and wireless charging. The wired charging segment acquired 74% revenue share in the market in 2023. Wired charging remains the most widely adopted and reliable method for EV charging, particularly due to its established infrastructure and faster charging capabilities.
By electric vehicle, the market is divided into battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV). The plug-in hybrid electric vehicle (PHEV) segment garnered 44% revenue share in the market in 2023. Flexibility is provided by plug-in hybrid electric vehicles (PHEVs), which integrate an internal combustion engine with an electric powertrain.
Based on application, the market is segmented into passenger vehicle and commercial vehicle. The passenger vehicle segment procured 68% revenue share in the market in 2023. This dominance is the consequence of the rapid growth of electric passenger cars as an outcome of the growing emphasis on environmentally friendly transportation alternatives, the increase of funding from the government, as well as the proliferation of charging infrastructure.
Free Valuable Insights: Global Electric Vehicle Communication Controller Market size to reach USD 1.5 Billion by 2031
The Electric Vehicle Communication Controller (EVCC) market is highly competitive, driven by technological advancements and regulatory standards for vehicle-to-grid communication. Key attributes include compatibility with charging infrastructure, reliability in data transmission, and adherence to cybersecurity protocols. Companies vie to enhance interoperability between EVs and charging stations while ensuring robust communication protocols. Market players focus on integrating smart grid functionalities and optimizing energy management solutions, aiming to meet evolving consumer demands and regulatory requirements efficiently.
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment witnessed 28% revenue share in the market in 2023. The region, particularly China, has emerged as a major player in the global EV industry due to its large-scale production of electric vehicles and aggressive government policies promoting clean energy transportation.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 166.8 Million |
| Market size forecast in 2031 | USD 1.5 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 32.7% from 2024 to 2031 |
| Number of Pages | 302 |
| Number of Tables | 403 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | System, Charging, Electric Vehicle, Application, Region |
| Country scope |
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| Companies Included | ABB Group, Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG, Sensata Technologies Holdings PLC, Ficosa International S.A, LG Innotek Co Ltd. (LG Display), Robert Bosch GmbH, Vector Informatik GmbH, and Tesla, Inc. |
By System
By Charging
By Electric Vehicle
By Application
By Geography
This Market size is expected to reach $1.5 billion by 2031.
Rising demand for fast charging infrastructure are driving the Market in coming years, however, High cost of infrastructure development restraints the growth of the Market.
ABB Group, Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG, Sensata Technologies Holdings PLC, Ficosa International S.A, LG Innotek Co Ltd. (LG Display), Robert Bosch GmbH, Vector Informatik GmbH, and Tesla, Inc.
The expected CAGR of this Market is 32.7% from 2024 to 2031.
The Vehicle-based Communication Controller segment is leading the Market, By System in 2023; thereby, achieving a market value of $986.8 million by 2031.
The Europe region dominated the Market, By Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $534.6 million by 2031.
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