Dublin, May 15, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Electric Vehicle (EV) Charging Communication Unit Market: Focus on Vehicle Type, Propulsion Type, Charging Type, Current Type, Component Type, System Type, and Country - Analysis and Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific EV charging communication unit market (excluding China) was valued at $8.0 million in 2023, which is expected to grow at a CAGR of 38.70% and reach $151.6 million by 2032
The EV charging communication unit market has seen swift growth, spurred by rising electric vehicle adoption, demand for rapid charging solutions, and standardization efforts. The primary catalyst is the increasing uptake of electric vehicles, with governments and regulators promoting electric mobility through incentives, emissions targets, and infrastructure investments, driving robust demand for charging infrastructure and communication units.
The electric vehicle (EV) charging communication unit market in Asia-Pacific (APAC) is rapidly expanding due to a number of important drivers. With the increased acceptance of electric vehicles throughout the region, there is a greater need for efficient and dependable charging infrastructure, including communication units. EV charging communication modules facilitate communication between electric vehicles and charging stations, resulting in seamless and secure charging transactions. These modules provide services like authentication, billing, and data transmission, which improve the overall charging experience for EV owners.
The APAC area, recognized for its strong automotive sector, technical innovation, and favorable regulatory climate for electric mobility, is making considerable investments in charging infrastructure development. Governments and regulatory organizations in APAC countries are enacting laws that promote electric vehicle adoption, including incentives, subsidies, and regulations mandating emissions reductions. Furthermore, the increased emphasis on environmental sustainability and the need to minimize greenhouse gas emissions is driving the shift to electric transportation in APAC. As a result, the number of electric vehicles on the road is increasing exponentially, creating a rise in demand for charging infrastructure, such as communication units.
Overall, the APAC electric vehicle charging communication unit market offers lucrative potential for industry participants to capitalize on the region's growing need for efficient and dependable charging solutions, hence facilitating the shift to a more sustainable transportation ecosystem.
How can this report add value to end users?
Product/Innovation Strategy: The product segment helps the readers understand the different types of EV charging communication units. Also, the study provides the readers with a detailed understanding of the APAC EV charging communication unit market based on application and product.
Growth/Marketing Strategy: To improve the capabilities of their product offerings, players in the APAC EV charging communication unit market are developing unique products. The readers will be able to comprehend the revenue-generating tactics used by players in the APAC EV charging communication unit market by looking at the growth/marketing strategies. Other market participants' tactics, such as go-to-market plans, will also assist readers in making strategic judgments.
Competitive Strategy: Players in the APAC EV charging communication unit market analyzed and profiled in the study include vehicle manufacturers that capture the maximum share of the market. Moreover, a detailed competitive benchmarking of the players operating in the APAC EV charging communication unit market has been done to help the readers understand how players compete against each other, presenting a clear market landscape.
Additionally, comprehensive competitive strategies such as partnerships, agreements, collaborations, and mergers and acquisitions are expected to aid the readers in understanding the untapped revenue pockets in the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 118 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $8 Million |
| Forecasted Market Value (USD) by 2032 | $151.6 Million |
| Compound Annual Growth Rate | 38.7% |
Business Dynamics
Trends: Current and Future
- Increasing Government Influence on the e-Mobility Industry
- Electrification of Fleets
- Increasing Investment in Charging Infrastructure
Business Drivers
- Increasing Adoption of Electric Vehicles (EVs)
- Need for Fast and Reliable Charging Solutions
- Standardization and Interoperability
Business Challenges
- Limited Infrastructure Availability and Geographic Distribution
- Up-Front Vehicle and Charging Infrastructure Costs
Business Strategies
- Product Development
- Market Development
- Corporate Strategies
- Mergers and Acquisitions
- Partnerships, Collaborations, and Joint Ventures
Business Opportunities
- Adequate Rollout of Public EV Charging Stations
- Scaling EV Charging Infrastructure with a Focus on Interoperability
- Future Potential of 5G and Artificial Intelligence
Ecosystem/Ongoing Programs
- Consortiums, Associations, and Regulatory Bodies for Electric Vehicles
- Government Programs and Initiatives
- Programs by Research Institutions and Universities
Supply Chain Network
Technology Roadmap
EV Charging Ecosystem
Compatibility of Hardware with Different Software
- Protocols and Standards
Business Model Analysis
Competitive Benchmarking & Company Profiles
- Company Overview
- Role in the Electric Vehicle Charging Communication Unit
- Product Portfolio
- R&D Analysis
- Analyst View
Companies Featured
- Hyundai Mobis
- LG Innotek
- Mitsubishi Electric Corporation
- Neusoft Corporation
Market Segmentation:
Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Propulsion Type
- Battery Electric Vehicle (BEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
Charging Type
- Wired (Plug-In)
- Wireless (Inductive Charging)
Current Type
- Alternating Current (AC)
- Direct Current (DC)
Component Type
- Software
- Hardware
System Type
- Electric Vehicle Communication Controller (EVCC)
- Supply Equipment Communication Controller (SECC)
For more information about this report visit https://www.researchandmarkets.com/r/ver68r
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