Electric Vehicle Communication Controller: Introduction
- The electric vehicle communication controller is used for communication between electric vehicle and charger in order to rapidly charge the electric vehicle. The electric vehicle communication controller not only receives electricity from the electric vehicle supply equipment, it also works as the getaway for the mutual exchange of information between an external charger and the vehicle engine control unit (ECU).
- Several manufacturers are shifting toward self-charging of battery in hybrid cars, unlike other plug-in electric vehicles, because it does not require a power socket or overnight charging of the battery.
Key Drivers of Global Electric Vehicle Communication Controller Market:
- Rising demand for electric vehicles in several countries across Asia Pacific including India, China, those in ASEAN, Japan, Italy, and South Africa, is likely to drive the demand for electric vehicle communication controller significantly across the globe
- The electrical vehicle communication controller is directly connected to electric and hybrid vehicles, since it enhances the charging performance of electric vehicles across the globe. Demand for electric vehicle communication controller is likely to rise due to an increase in production and usage of new electric vehicles. Advancements in electrical vehicles, their charging infrastructure and battery technology, owing to rising investments by automakers in electric vehicles, are likely to boost the electric vehicle communication controller market across the globe.
- Government support and initiatives toward electric vehicles in the form of reduction of tax rate and interest rate on vehicle loans are likely to boost the demand for electric vehicles and subsequently, propels the electric vehicle communication controller market
Electric Vehicle communication Controller Market to Offer Significant Opportunities
- Development of high-power batteries and evolution of fast charging technologies is anticipated to drive the electric vehicle communication controller market. Numerous manufacturers are developing self-charging battery systems that charge while driving hybrid vehicles. This features in the electric vehicles communication controller is expected to boost the demand for electric vehicles across the globe.
- The convenience of wireless charging and its safety and the use of vehicle to grid EV charging stations for electric vehicles are estimated to offer considerable opportunity for the electric vehicle communication controller market
Greenhouse Gas Emission to Hamper Market:
- The energy crisis and necessity to reduce greenhouse gas emissions have prompted vehicle manufacturers to make an effort to reduce the energy consumption of electric vehicles, and they are presently developing vehicles completely driven by electricity, which is likely to propel the demand for electric and hybrid vehicles. This, in turn, indirectly hampers the electric vehicle communication controller market across the globe.
Asia Pacific to Hold Significant Share of Global Electric Vehicle Communication Controller Market:
- The automotive industry in China is expanding at a significant pace. China is projected to account for a prominent market share of the electric vehicles communication controller market in Asia Pacific due to the large electric vehicle fleet on road in the country.
- Several governments in Asia Pacific have introduced initiatives to reduce the tax rate on electric vehicles and enacted strict emissions norms in the region, which are likely to boost the demand for electric vehicles and subsequently, contribute to notable share held by the region in the global electric vehicle communication controller market.
Key Players Operating in Global Electric Vehicle Communication Controller Market:
The global electric vehicle communication controller market is highly fragmented due to the presence of top manufacturers from across the globe. A few key players operating in the global electric vehicle communication controller market are:
- LG INNOTEk
- Mitsubishi Electric
- Ficosa Corporation
- ABB ltd.
- Schneider Electric
Global Electric Vehicle Communication Controller Market: Research Scope
Global Electric Vehicle Communication Controller Market, by System Type
- Supply Equipment Communication Controller (SECC)
- Electrical Vehicle Communication Controller (EVCC)
Global Electric Vehicle Communication Controller Market, by Vehicle Type
- Battery Operated
- Plug- In
Global Electric Vehicle Communication Controller Market, by Current Type
- Alternating Current (AC)
- Direct Current (DC)
Global Electric Vehicle Communication Controller Market, by Charging Type
- Wired Charging (Plug- In)
- Wireless Charging
Global Electric Vehicle Communication Controller Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.