A recent report published by Infinium Global Research on EV charging communication unit market provides in-depth analysis of segments and sub-segments in the global as well as regional EV charging communication unit market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional EV charging communication unit market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global EV charging communication unit market.
Electric vehicles communicate with the charging station during the charging process via a standardized interface. This interface is controlled by the electric vehicle charge communication unit, which supports all worldwide charging standards for both alternating current (AC) and direct current (DC). An electric car charging communication device is a low-cost option for battery-powered automobiles. Furthermore, a low-cost communication device for charging communication may be placed with considerable flexibility. EV charging communications devices also include the electric vehicle communication controller (EVCC) and supply equipment communication controller (SECC). The electric vehicle communication controller (EVCC) is a versatile, holistic solution for ensuring a secure and authorized connection with an EV charging station. The electric vehicle communication controller (EVCC) is a component of the rechargeable electric car that communicates with the charging pile. DC charging electric cars have to link with EVCC and the charging pile. AC charging electric cars can execute AutoCharge, plug and charge, and other operations using EVCC. Furthermore, SECC is a universal communication modem installed within the charging station that communicates with EVs via power line communication (PLC) and is suitable for smart charging implementation.
Furthermore, EV charging communication modules are often used in both passenger and commercial electric cars. Thus, the market's growth is driven by the increasing usage of electric cars. With the increasing fuel prices and growing awareness about environmental concerns, there is a mounting desire amongst individuals to adopt electric vehicles. The World Economic Forum estimates that EV sales will increase by 55% in 2022, reaching 10.5 million. Furthermore, yearly EV sales must climb 18-fold by 2030 to satisfy global emissions objectives. Thus, as the number of electric vehicles on the roads rises, there is a notable requirement for adequate charging station infrastructure across the globe. Thus, an electric vehicle charging communication unit allows safe and efficient charging by enabling communication between an electric vehicle (EV) and a charging station. Thus, rising sales of electric vehicles drive the growth of the EV charging communication unit market. Moreover, As the number of EVs grows, so will public charging availability. For example, the IEA predicts that by 2021, sales will have more than quadrupled, bringing the entire fleet of electric vehicles to around 16.5 million, a triple from 2018. Meanwhile, the number of publicly available charging outlets has risen to almost 1.8 million.
Furthermore, the present rise in EV sales can only be sustained if an increasing proportion of the population has access to easy and inexpensive charging infrastructure. As a result, governments will need to continue to encourage investment and reduce impediments to the deployment of charging infrastructure. According to the Environmental and Energy Study Institute (EESI), in 2023, the IRAs Discretionary Grant Program for Charging and Fueling Infrastructure (CFI) will provide USD 2.5 billion in grants to municipalities, states, tribes, territories, city planners, and other land-use authorities for funding the development and upkeep of charging and fueling infrastructure. As more charging stations are installed, there is an increasing demand for communication between the stations, electric vehicles (EVs), and charging networks. Thus, increased government investment in EV adoption and charging infrastructure fuels market development. However, the broad adoption of EVs is dependent on the development of a reliable and easily accessible charging infrastructure. While EV charging infrastructure has grown dramatically, it remains disproportionately concentrated in cities and industrialized countries. Rural areas and impoverished countries lack proper charging infrastructure, which hinders EV adoption.
The global electric vehicle charging communication unit market is geographically segmented into North America, Europe, Asia Pacific, and the Rest of the World. Among the regions, the Asia-Pacific region is anticipated to hold the largest market share in terms of revenue. The rise in electric vehicle adoption drives the demand for EV charging communication units across the region. With increasing disposable income and growing awareness of sustainability, consumers are highly interested in purchasing electric vehicles. For instance, according to the International Energy Agency (IEA), in China, the number of new electric car registrations reached 8.1 million in 2023, marking a 35% increase compared to 2022. Additionally, China exported over 4 million cars in 2023, making it the largest auto exporter in the world, of which 1.2 million were EVs. This represents a significant increase from the previous year, with car exports nearly 65% higher than in 2022, and electric car exports up by 80%. Moreover, in India, electric car registrations increased by 70% year-on-year, reaching a total of 80,000 vehicles. In Thailand, electric car registrations more than quadrupled year-on-year, totaling nearly 90,000 vehicles and achieving an impressive 10% share of total sales. Thus, the growing demand for electric vehicles drives the demand for the charging communication unit.
Furthermore, the growing EV charging facilities are stimulating the growth of the market. Communication devices are critical components of this ecosystem, enabling data transmission and optimizing charging based on energy use. This focus on smart charging will drive the market for advanced communication equipment. Moreover, the North America region is expected to witness significant growth in the EV charging communication unit market during the forecasted period. The rising usage of electric cars generates demand for EV-charging communication devices throughout the area. According to the United States Bureau of Labor Statistics, electric vehicle sales in the United States grew from 0.2 percent of total automotive sales in 2011 to 4.6 percent in 2021. Furthermore, governments in the region, notably the United States, are increasing investments in charging infrastructure, making EVs a more appealing choice for customers. This rise in EV usage will translate into a greater need for communication devices that oversee the charging process.
| Report Coverage | Details |
|---|---|
| Market Size in 2023 | USD 215.0 Million |
| Market Size by 2032 | USD 1020.19 Million |
| Growth Rate from 2024 to 2032 | CAGR of 19.91% |
| Largest Market | Asia Pacific |
| No. of Pages | 100 |
| Market Drivers |
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| Market Segmentation | By System Type, By Vehicle Type, By Propulsion Type, By Charging Type, By Component Type, and By Current Type |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global EV charging communication unit market provides a detailed analysis of segments in the market based on System Type, Vehicle Type, Propulsion Type, Charging Type , Component Type, and Current Type.
· Electric Vehicle Communication Controller (EVCC)
· Supply Equipment Communication Controller (SECC)
· Passenger Vehicle
· Commercial Vehicle
· Battery Electric Vehicle (BEV)
· Plug-In Hybrid Electric Vehicle (PHEV)
· Wired (Plug-In)
· Wireless (Inductive Charging)
· Software
· Hardware
· Alternating Current (AC)
· Direct Current (DC)
· Robert Bosch GmbH
· Vitesco Technologies GmbH
· Sensata Technologies, Inc.
· chargebyte
· Vector Informatik GmbH
· LG Innotek
· Dana Limited
· Renesas Electronics Corporation
· CONTINENTAL ENGINEERING SERVICES
· Ficosa Internacional SA
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the EV charging communication unit market. Moreover, the study highlights current market trends and provides forecasts from 2024-2032. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.