The Electric Vehicle Communication Controller Market was valued at US$ 160 million in 2022 and is estimated to reach US$ 690 million by 2028, with a CAGR of 33.80% from 2023 to 2028.

The vehicle communication controller serves as a means of communication between the car's electronic control unit (ECU) and the external charger in addition to obtaining electricity from the EVSE. Instead of the opposite plug-in electric vehicle, which does not require a facility socket or overnight charging of the battery, the various manufacturers are moving toward hybrid cars' batteries self-charging. With continual advancements in battery technology, charging infrastructure, and electric vehicle technology, the electric vehicle communication controller has experienced rapid evolution.

The market's growth is mostly due to two factors: an increase in the use of electrical vehicles (EV) and continued efforts to develop electrical vehicle supply equipment with a particular focus on fast-charging options. By strengthening Public-Private Partnerships (PPP) for the installation of charging stations, the market expansion is accelerated even more. The government is collaborating with automakers and original equipment manufacturers (OEMs) to build fast-charging stations, which is expected to increase demand for the EVCC Market.

Market Drivers and Restraints:

The rising production and consumption of new electric vehicles is the main factor fueling the expansion of the global market for electric vehicle communication controllers. The need for electrical vehicle communication controllers is projected to be driven by the advancement of electric vehicle technology at the same time as increased automaker investment in electric vehicles. By lowering the rate and rate of interest on vehicle loans, the government is supporting and encouraging the use of electric vehicles, which is likely to boost demand and have a direct impact on the market for electric vehicle communication controllers. Vehicle manufacturers are currently developing vehicles that are entirely or partially powered by electricity in an effort to reduce their vehicles' energy consumption as a result of the anticipated energy crisis and the need to reduce greenhouse gas emissions. This will likely increase demand for electric and hybrid vehicles and will have some impact on the future global market for electric vehicle communication controllers.

The market for electric vehicle communication controllers will likely face challenges from the lack of uniformity in the charging infrastructure. The expansion of the electric vehicle communication controller market may be hampered by the stringent laws and regulations governing the installation of charging stations.

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The report is segmented as follows:

The Electric Vehicle Communication Controller Market is segmented by System; the Market is segmented by Charging Type; the Market is segmented by Vehicle Type; the Market is segmented by Application:

By System (Vehicle-Based Communication Controller, Supply Equipment Communication Controller)

By Charging Type (Wired Charging, Wireless Charging)

By Vehicle Type (Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle)

By Application (Passenger Vehicle, Commercial Vehicle)

Market Regional Segmentation:

Due to the growing use of electric vehicles and associated charging stations in the region, the electric vehicle communication controller market in Europe is expected to grow at the quickest rate during the projected period. Additionally, the market for plug-in electric vehicles in Europe reached 384,000 units in 2018, up roughly 33% from the previous year. 182,760 plug-in hybrid electric vehicles and 201,280 battery-electric vehicles made up the total number of units. As a result, the region's demand for electric vehicle communication controllers is being driven by the growing adoption of electric vehicles and charging stations for them. In 2018, the market for electric vehicle communication controllers was dominated by Asia-Pacific. This is attributed to China's recent widespread adoption of electric vehicles and the construction of accompanying charging facilities. The demand for electric vehicles is being fueled by growing environmental concerns, increasing government support in the form of subsidies for electric vehicles and related charging stations, and lowering total cost of ownership (TCO), which is subsequently having a positive impact on the growth of the market in the area.

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Impact of the COVID-19 pandemic on the market:

The COVID-19 epidemic has had a huge impact on practically every business in the world, but the demand for electric vehicle power inverters is increasing dramatically as a result of factors like the ongoing desire for and yearly sales of electric vehicles. For instance, sales of electric vehicles, such as passenger automobiles, have increased despite the epidemic in a number of nations in regions including Asia-Pacific and Europe.

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