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TuneCore’s Independent Artists Have Earned More Than $4 Billion

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The leading global self-releasing artist development platform surpasses latest milestone of $4 billion earned by artists since the company was founded in 2006.

NEW YORK, June 10, 2024 /PRNewswire-PRWeb/ — TuneCore, the leading development partner for self-releasing artists—owned by Believe, one of the world’s leading digital music companies—has announced that TuneCore artists have now earned more than $4 billion (since the company was founded in 2006), cementing the company’s position as the premier platform for independent artists looking to build their careers.

Whether artists are recording and releasing their first songs through TuneCore or selling out stadiums internationally, we are proud to provide artists with a distribution and career development platform that puts more money in their pockets and lets them focus on creating the music that moves us.

Andreea Gleeson, Chief Executive Officer, TuneCore commented, “It has been less than a year and a half since we announced that TuneCore artists had surpassed $3 billion earned, and already our thriving pool of self-releasing artists has earned yet another billion dollars. Independent artists stand at the forefront of innovation in music, both as pioneers of experimentation and as the trailblazers forging new paths to success in the music industry. Whether artists are recording and releasing their first songs through TuneCore or selling out stadiums internationally, we are proud to provide artists with a distribution and career development platform that puts more money in their pockets and lets them focus on creating the music that moves us.”

It has been just a year and a half since TuneCore announced that the company had surpassed the milestone of $3 billion earned by self-releasing artists and, in the intervening months, many independent artists all over the world have continued to build sustainable careers using TuneCore. The $4 billion figure represents the cumulative sum of revenue earned by self-releasing artists at all stages of their careers, from hobbyists and new artists earning their first-ever streaming revenue, to established artists and household names for whom writing and performing music is their sole source of income.

The massive payout to self-releasing artists is aided by parent company Believe’s direct deals with digital service providers and streaming platforms, as well as TuneCore’s newly expanded TuneCore Publishing product, and the TuneCore Accelerator program, a suite of tools specifically built to help artists develop their careers, increase their reach and help them find dedicated fans. By offering tools to support independent self-releasing artists, TuneCore has helped channel more money into the pockets of the independent artist community and has provided a means for self-releasing artists to flourish in an increasingly competitive industry landscape.

TuneCore and many of its artists share a relentless passion for the freedom provided by artistic independence. Mexican-American rapper & singer Snow Tha Product has also found immense success as a TuneCore artist. Over the course of her career, Snow Tha Product has earned nominations for Latin Grammy’s, MTV VMA’s, and more, has sold out multiple headlining US tours, and has entered the top 10 on the Billboard Heatseekers Albums chart, establishing herself as a prime example of independent success.

Snow Tha Product commented, “Being an artist in the age of streaming brings new, exciting challenges every day and has redefined what it means to be an independent artist. We have total control over both the artistry and backend music decisions, and new technologies to add into the creative process have been a game-changer. With streaming services, social media, and digital distributors like TuneCore, independent artists can now retain control and reap the financial benefits of our work.”

As a global platform, many of TuneCore’s artists reside internationally with 77% of new TuneCore artists and labels joining TuneCore in 2024 coming from outside of the United States. In India, one of TuneCore’s top three global markets and the company’s fastest growing emerging market, Delhi-based folktronic duo Tech Panda & Kenzani have utilized the freedom afforded by independence to carve a nontraditional path to success. Rather than following the traditional album release cycle, Tech Panda & Kenzani have released more than one hundred singles, finding success on the Spotify India charts, amassing a loyal fanbase, and even being tapped to record the official Hindi rendition of Post Malone and Swae Lee’s “Sunflower” for Spider-Man: Across the Spider-Verse.

Kenzani commented, “When I started making music it was just for fun, but I gained a lot of appreciation for it and before I knew it I was putting all of my energy and time into music and started pursuing it professionally. The journey was enriching, it was exciting, it was challenging, it was sometimes frustrating, but extremely rewarding and definitely life-changing. This indie music moment has been very important worldwide because over the last five years, there’s been so much musical evolution from independent artists who are pushing our industry forward.”

TuneCore’s roster of international artists also includes Mexican indie-rock group Odisseo, who have cultivated a substantial regional fanbase and are continuing to grow and find new audiences. In the first quarter following the launch of TuneCore Accelerator, Odisseo experienced overall streaming growth of 58%, with streams for their song “Los Imanes” growing by nearly 94%, propelling their career forward and showcasing the power of independent artists.

Odisseo members Juan Pablo López (vocals) and Daniel León (guitar) commented, “When we first started earning money from our music it was very exciting because we have invested in music for years, and when you start earning it’s like crossing to the other side. It was like ‘This is actually a job now and I can dedicate myself to it for the rest of my life.’ We feel very proud to be a part of this wave of independent artists, not only in Mexico or Latin America, but all over the world. Thanks to the time we’re living in right now, we realized that we can make a living out of music through independent efforts.”

This latest milestone stands as a testament to TuneCore’s commitment on behalf of independent artists around the world. By increasing access to music creation and distribution, supporting self-releasing artists at all stages of their careers, and providing the tools and educational resources necessary for artists to claim the money they’ve rightfully earned from their music, TuneCore and parent company Believe are continuing to work towards creating a more equitable and sustainable music industry ecosystem for all.

About Believe:

Believe is one of the world’s leading digital music companies. Believe’s mission is to develop independent artists and labels in the digital world by providing them the solutions they need to grow their audience at each stage of their career and development. Believe’s passionate team of digital music experts around the world leverages the Group’s global technology platform to advise artists and labels, distribute and promote their music. Its 1,919 employees in more than 50 countries aim to support independent artists and labels with a unique digital expertise, respect, fairness and transparency. Believe offers its various solutions through a portfolio of brands including Believe, TuneCore, Nuclear Blast, Naïve, Groove Attack, AllPoints, Ishtar and Byond. Believe is listed on compartment B of the regulated market of Euronext Paris (Ticker: BLV, ISIN: FR0014003FE9). www.believe.com

About TuneCore:

TuneCore is the leading independent development partner for self-releasing artists to build audiences and careers – with technology and services across distribution, publishing administration, and a range of promotional services. TuneCore Music Distribution services help artists, labels, and managers sell their music through Spotify, Apple Music, Amazon Music, Deezer, TikTok, Tencent, and more than 150 download and streaming stores worldwide, while retaining 100 percent of their rights for a low annual flat fee. TuneCore Music Publishing Administration assists songwriters by administering their compositions through licensing, registration, worldwide royalty collections, and placement opportunities in film, TV, commercials, video games, and more. The TuneCore Artist Services portal offers a suite of tools and services that enable artists to promote their craft, connect with fans, and get their music heard. TuneCore, part of Believe, is headquartered in Brooklyn, NY, with offices in Los Angeles and Nashville, and operates globally through local teams based in the UK, Germany, France, Belgium, The Netherlands, Italy, Brazil, Mexico, Colombia, South Africa, India, Japan, Indonesia, Thailand, Philippines, Vietnam and Singapore across 5 continents. www.tunecore.com

Media Contact
John Graffo, TuneCore, 1 6782066668, john.graffo@tunecore.com, www.tunecore.com
Maria Ho-Burge, TuneCore, 1 9179294888, maria.ho-burge@tunecore.com, www.tunecore.com

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Global Ultrasound Institute (GUSI) Unveils POCUS Essentials Plus Simulation: A Game-Changing Advancement in Point-of-Care Ultrasound Training

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Partnership with e-Sono (3B Scientific) Delivers Unmatched Learning Experience with Over 1,000 Case-Based Simulations and Comprehensive Educational Resources

SAN FRANCISCO, Sept. 20, 2024 /PRNewswire/ — Global Ultrasound Institute (GUSI), the leading provider of point-of-care ultrasound (POCUS) education and training, is thrilled to announce the launch of its latest innovation, POCUS Essentials Plus Simulation. This groundbreaking product is the result of a strategic partnership with e-Sono, a division of 3B Scientific, and promises to revolutionize ultrasound training by combining GUSI’s premier learning resources with e-Sono’s extensive simulation library.

GUSI introduces Simulation-enhanced online POCUS courses

POCUS Essentials Plus Simulation offers an unparalleled educational experience by integrating GUSI’s complete learning library, which includes POCUS Essentials Courses across acute and primary care, pediatrics, obstetrics, and musculoskeletal ultrasound. Learners can now access detailed training on over 30 anatomical regions through hundreds of lectures delivered by leading POCUS experts.

“POCUS Essentials Plus Simulation is a significant leap forward in ultrasound education,” said Dr. Mena Ramos, co-CEO of GUSI. “Our collaboration with e-Sono allows us to offer a truly immersive learning experience that combines high-quality content with cutting-edge simulation technology. We are excited to provide healthcare professionals with the tools they need to excel in real-world clinical settings.”

The product also features advanced case-based clinical integration developed by POCUS clinical experts, along with robust anatomical coverage, including cross-sectional imaging. The inclusion of e-Sono’s comprehensive Sim Library, featuring more than 1,000 case-based ultrasound simulations, allows learners to practice scanning techniques and visualize pathology in a dynamic, interactive environment.

“The integration of digital simulation brings clinical anatomy and ultrasound images to life by allowing clinicians to see and correlate them in real time,” says Dr. Nicholas LeFevre, a fellowship-trained, active POCUS educator and Associate Professor of Family and Community Medicine at the University of Missouri.

“POCUS is an essential extension of our clinical evaluation. To master it, we must immerse ourselves in simulation-based education that reflects real patient care.”

Sahar Ahmad. M.D., Associate Professor of Medicine and Director of Medical Intensive Care Unit at Stony Brook University Hospital; Director, Ultrasound & Critical Care Education; Chair, Ultrasound Education Task Force, Renaissance School of Medicine at Stony Brook University

In addition to its educational resources, POCUS Essentials Plus Simulation includes all the features of GUSI’s ScanHub learning platform, such as Sage AI for on-demand expert answers, the ScanFolio device-independent scan archive and feedback system, a performance dashboard, and QBanks with thousands of questions and pathologic videos. The program is eligible for over 50 hours of Continuing Medical Education (CME) credits, further enhancing its value to healthcare professionals.

Fourth year med student at Touro University California Medical School Jori Enfield adds, “As a medical student, the POCUS Essentials Plus Simulation has been a great addition to my POCUS training. The interactive design has helped reinforce key concepts and boosted my confidence in identifying and interpreting anatomical structures through real-time ultrasound practice. The ability to practice independently, without needing an ultrasound model or instructor, provided both convenience and an effective way to build my skills. This program has greatly enhanced my ability to integrate POCUS into clinical rotations.”

Dr. Kevin Bergman, GUSI co-CEO added, “POCUS Essentials Plus Simulation sets a new standard for ultrasound training. The combination of extensive lectures, dynamic and interactive simulations, and expert clinical integration prepares learners for real-life applications in a way that traditional methods simply cannot match.”

For more information about the POCUS Essentials plus Simulation or any of GUSI services, please visit https://globalultrasoundinstitute.com/

About Global Ultrasound Institute:

Global Ultrasound Institute stands at the forefront of point-of-care ultrasound, providing wraparound education, training, AI, and administrative software tools to healthcare providers and health systems globally to lower barriers to POCUS adoption and implementation. GUSI has trained over 14,000 healthcare practitioners in over 60 countries. GUSI is working to create a better world in which every healthcare practitioner is empowered to offer a rapid, reliable, accurate ultrasound-enabled diagnosis directly at the point-of-care, for any patient, anywhere.

About e-Sono (3B Scientific):

e-Sono, a division of 3B Scientific, specializes in advanced simulation technologies for medical education. With a focus on providing high-quality, interactive learning experiences, e-Sono supports the development of essential clinical skills through its extensive library of case-based ultrasound simulations and educational tools.

Contact:

Dr. Kevin Bergman, Co-Founder, co-CEO, Global Ultrasound Institute
Dr. Mena Ramos, Co-Founder, co-CEO, Global Ultrasound Institute

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Technical Support Outsourcing Market to Grow by USD 17.3 Billion (2024-2028) as Demand for Cost-Efficient Solutions Rises, AI Drives Market Transformation- Technavio

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NEW YORK, Sept. 20, 2024 /PRNewswire/ — Report with the AI impact on market trends- The global technical support outsourcing market size is estimated to grow by USD 17.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 7.99%  during the forecast period. Increasing need for cost-effective solutions to improve efficiency is driving market growth, with a trend towards emergence of chatbots. However, outsourcing can compromise quality of technical support  poses a challenge. Key market players include Aress Software and Education Technologies P Ltd., Computer Generated Solutions Inc., CSS Corp., Essentiel Outsourcing S.L., Flatworld Solutions Pvt. Ltd., Genpact Ltd., Global response Corp., HCL Technologies Ltd., IBN Technologies Ltd., Infosys Ltd., International Business Machines Corp., Invensis Technologies Pvt. Ltd., ISPL Support Services, Qcom Outsourcing Ltd., StarTek Inc., Suma Soft Pvt. Ltd., Tata Consultancy Services Ltd., Telegenisys Inc., Wipro Ltd., and Worldwide Call Centers Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Technical Support Outsourcing Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.99%

Market growth 2024-2028

USD 17.3 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.32

Regional analysis

APAC, South America, Europe, North America, and Middle East and Africa

Performing market contribution

APAC at 58%

Key countries

China, Brazil, India, Germany, and Argentina

Key companies profiled

Aress Software and Education Technologies P Ltd., Computer Generated Solutions Inc., CSS Corp., Essentiel Outsourcing S.L., Flatworld Solutions Pvt. Ltd., Genpact Ltd., Global response Corp., HCL Technologies Ltd., IBN Technologies Ltd., Infosys Ltd., International Business Machines Corp., Invensis Technologies Pvt. Ltd., ISPL Support Services, Qcom Outsourcing Ltd., StarTek Inc., Suma Soft Pvt. Ltd., Tata Consultancy Services Ltd., Telegenisys Inc., Wipro Ltd., and Worldwide Call Centers Inc.

Market Driver

The technical support outsourcing market is experiencing growth due to the rising adoption of chatbots in various industries. These AI-powered tools offer a quick and efficient way for businesses to communicate with their customers, providing instant responses and reducing the need for on-site repair personnel. Machine Learning as a Service (MLaaS) is a key technology driving this trend, enabling chatbots to understand customer situations and generate appropriate responses in real time. Additionally, MLaaS can predict demand for services, providing enterprises with valuable insights and improving customer experience. Sectors such as retail, BFSI, and healthcare, which generate large amounts of data, are particularly benefiting from this integration. As a result, the global technical support outsourcing market is expected to expand significantly during the forecast period. 

The Technical Support Outsourcing market is thriving, with trends like chat boxes and virtual help desks revolutionizing customer interactions. Independent software vendors and SMEs are outsourcing technical support to cut operating expenses and access qualified personnel. The help desk system is becoming more sophisticated, with a tiered staffing structure including Tier 1 staff for basic queries. In the retail, BFSI, hospitality, and eCommerce industries, customer databases are driving the need for efficient technical support. Emerging technologies like quantum computing, electronic billing, and digital payment systems require specialized expertise. Call volume management is crucial, with CRM systems helping to streamline processes. Personnel training and system upgrades are ongoing priorities. In-house resources may not always have the technical skills needed for complex issues, making outsourcing an attractive option. The market is dynamic, with trends like user-friendly services and office space requirements shaping the landscape. Broken servers and other IT issues can cause significant downtime, making quick First Call Resolution essential. Overall, Technical Support Outsourcing is an essential strategy for businesses looking to stay competitive in today’s digital world. 

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Market Challenges

Technical support outsourcing allows enterprises to delegate their customer service needs to third-party companies. However, this arrangement comes with challenges. Quality issues may arise due to the lack of direct control over the services provided. Consumers’ expectations may not always be met, leading to dissatisfaction. Moreover, hidden costs and inefficiencies can increase the overall expense. These factors impact the quality of services delivered to end-users, posing a significant challenge for service providers in the technical support outsourcing market. Despite these hurdles, the market is expected to grow due to factors such as cost savings and access to specialized expertise. However, addressing the aforementioned challenges is crucial for ensuring customer satisfaction and market success.Technical support outsourcing has become a popular solution for various industries including retail, BFSI, hospitality, eCommerce, and more. Outsourcing technical support allows businesses to focus on their core competencies while experts handle IT issues. However, challenges persist. In industries like retail and BFSI, managing customer databases and ensuring data security are crucial. Emerging technologies like quantum computing, electronic billing, and digital payment systems require technical expertise. User-friendly services, office space, and system upgrades also demand attention. Training, broken servers, and outsourcing maintenance are common challenges. Global SMEs and independent software vendors seek cost-effective ways to provide quality technical support. Policies, strategies, and initiatives are essential for addressing data breaches and financial harm. Internal IT teams face employee capability limitations, accessibility issues, and business plan alignment. Consumer technical support requires digital technology proficiency, social media savvy, and online platform expertise. Smart computing devices, cost-effective ways, and global digital transformation call for automation and technical expertise.

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Segment Overview 

This technical support outsourcing market report extensively covers market segmentation by

Type 1.1 Help desk1.2 Call centerBusiness Segment2.1 Large enterprises2.2 SMEsGeography 3.1 APAC3.2 South America3.3 Europe3.4 North America3.5 Middle East and Africa

1.1 Help desk-  The Technical Support Outsourcing Market continues to grow, with businesses increasingly turning to external providers for cost savings and expertise. Outsourcing allows companies to focus on their core competencies while receiving reliable and efficient technical support services. Service providers offer 24/7 support, multilingual capabilities, and advanced technology solutions. This partnership results in improved customer satisfaction and operational efficiency for businesses.

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Research Analysis

Technical support outsourcing refers to the practice of companies contracting third-party providers to manage and resolve their customers’ technology-related issues. In various industries like retail, BFSI, hospitality, eCommerce, and more, outsourcing technical support has become a cost-effective way to improve customer experience and focus on core business functions. With the rise of digital technology, emerging technologies such as quantum computing, electronic billing, and digital payment systems are increasingly being adopted. This creates a need for user-friendly services and efficient technical support. Outsourcing technical support allows companies to access skilled professionals and keep up with system upgrades and training. Broken servers, internet service, smart computing devices, and software projects require constant attention. Social media and online platforms add another layer of complexity. Technical support outsourcing providers offer maintenance and helpdesk services, ensuring that businesses can provide uninterrupted services to their customers. The global digital transformation trend drives the demand for outsourcing technical support. Companies can save on office space and costs while ensuring that their customers’ queries are addressed promptly and efficiently. Consumer technical support is a crucial aspect of any business, and outsourcing allows companies to provide round-the-clock support, enabling them to stay competitive in the digital age.

Market Research Overview

Technical support outsourcing refers to the practice of hiring third-party providers to manage and deliver customer technical assistance services. This approach is increasingly popular among various industries, including retail, BFSI, hospitality, eCommerce, and more, due to the benefits it offers in managing customer databases and handling emerging technologies such as quantum computing, electronic billing, digital payment systems, and user-friendly services. Outsourcing technical support can help businesses save on office space and system upgrades, while also providing access to trained personnel and quality control measures. However, it’s essential to consider policies, strategies, and initiatives to ensure technical expertise, automation, and First Call Resolution (FCR) rates. Independent software vendors and global SMEs can leverage outsourcing technical support to improve technology awareness and employee capability, while also addressing issues like broken servers, data breaches, and financial harm caused by internal IT teams. With the rise of digital technology, social media, online platforms, internet services, and smart computing devices, cost-effective ways to provide technical support are becoming increasingly important. Outsourcing maintenance, app development, and software projects can help businesses stay competitive in the global digital transformation landscape. Moreover, technical support outsourcing can help businesses manage call volume, implement help desk systems, and provide virtual help desks to offer 24/7 support. A tiered staffing structure with Tier 1 staff handling basic queries and CRM systems ensuring customer interactions can lead to improved technical skills, policies, and strategies.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeHelp DeskCall CenterBusiness SegmentLarge EnterprisesSMEsGeographyAPACSouth AmericaEuropeNorth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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EV Charging Adapter Market to Grow by USD19.29 Billion (2024-2028) as Tax Incentives and AI-Driven Innovations, Boost EV Sales and Charging Infrastructure Development – Technavio

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NEW YORK, Sept. 20, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global EV charging adapter market size is estimated to grow by USD 19.29 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 42.77% during the forecast period. Increasing EV sales through tax incentives pushing demand for well-built EV charger infrastructure is driving market growth, with a trend towards focus on reducing charging time. However, increasing cost pressure adversely affecting sales of ac level 2 and dc fast chargers poses a challenge – Key market players include ABB Ltd., Aptiv Plc, ChargePoint Holdings Inc., CHONGQING SENKU MACHINERY IMP AND EXP Co. Ltd., Delta Electronics Inc., Eaton Corp. Plc, EDF Energy Holdings Ltd, Enel Spa, EV Safe Charge Inc., FLO Services USA Inc., Kempower Oy, Lectron EV, Leviton Manufacturing Co. Inc., Phihong USA Corp., Robert Bosch GmbH, Schneider Electric SE, Shanghai Mida EV Power Co. Ltd., Shanghai Zencar Industry Co Ltd, Siemens AG, and Webasto SE.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Ev Charging Adapter Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 42.77%

Market growth 2024-2028

USD 19292.2 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

31.08

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 50%

Key countries

China, US, Norway, Japan, and Germany

Key companies profiled

ABB Ltd., Aptiv Plc, ChargePoint Holdings Inc., CHONGQING SENKU MACHINERY IMP AND EXP Co. Ltd., Delta Electronics Inc., Eaton Corp. Plc, EDF Energy Holdings Ltd, Enel Spa, EV Safe Charge Inc., FLO Services USA Inc., Kempower Oy, Lectron EV, Leviton Manufacturing Co. Inc., Phihong USA Corp., Robert Bosch GmbH, Schneider Electric SE, Shanghai Mida EV Power Co. Ltd., Shanghai Zencar Industry Co Ltd, Siemens AG, and Webasto SE

 

Market Driver

The Ev Charging Adapter Market is experiencing significant growth due to technological innovations in battery technology and charging infrastructure. Manufacturers are focusing on reducing charging time and cost, leading to advancements such as portable solar-powered charging stations and ultra-fast charging stations. For instance, Envision Solar’s EV ARC is a solar-powered parking structure that charges a 21.6-kilowatt-hour battery, while the China State Grid’s ultra-fast charging station in Beijing can charge buses to 100% in 10 minutes using Microvast’s ultra-fast charging battery and 31 chargers. GE’s multi-coil system enables efficient interoperability and charging while driving, and DC fast charging offers a range of 40 miles in 10 minutes. The use of solar energy for charging EVs is an emerging trend, which is expected to be encouraged by private and government bodies due to its low cost, driving the market’s growth during the forecast period. 

The EV charging adapter market is experiencing rapid growth in the automobile sector due to the increasing popularity of electric vehicles (EVs). By 2027, the market is forecasted to expand significantly. EV charging adapters enable compatibility between charging stations and various EV models with different charging connector types such as CHAdeMO and CCS. Improvements in charging infrastructure networks, installation in public areas, workplaces, residential complexes, and highways, are driving the market. Innovation, efficiency, versatility, safety features, and user-friendly designs are key factors contributing to the popularity of EV charging adapters. Diverse charging standards, including those for battery-electric vehicles and plug-in hybrid vehicles like the Chevrolet Volt and Nissan Leaf, necessitate the use of EV charging adapters. Environmental concerns, government norms, raw material prices, and compatibility with various charging port types are influencing market trends. Brands like ConnectDER, with offerings like meter sockets and home EV chargers, are providing rebates and tax credits to boost consumer adoption. 

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 Market Challenges

The global EV charging adapter market is experiencing significant growth due to the increasing adoption of electric vehicles (EVs) and the development of charging infrastructure. Governments worldwide prioritize vehicle safety, leading to the integration of advanced safety systems like antilock braking systems, airbags, tire pressure monitoring systems, and advanced driver assistance systems in both premium and entry-level vehicles. In particular, the US and China have shown high adoption rates for advanced driver assistance systems. However, the added cost of these safety features and EV charging adapters is a concern for Original Equipment Manufacturers (OEMs). Price-sensitive buyers are unwilling to bear the extra cost, putting pressure on OEMs to absorb the expenses. This situation may negatively impact the growth of the EV charging adapter market during the forecast period. Moreover, the increasing number of EVs equipped with AC Level 2 chargers and the expansion of charging infrastructure in public places necessitate further investment from OEMs. To meet these demands, they must comply with standards such as the European New Car Assessment Programme (Euro NCAP) and other regional regulations. Despite the challenges, the long-term outlook for the EV charging adapter market remains positive due to the growing demand for electric vehicles and the need for reliable charging solutions.The Ev Charging Adapter Market is experiencing significant growth due to the increasing popularity of battery-electric and plug-in hybrid vehicles. However, challenges persist in improving charging infrastructure networks, particularly in public areas, workplaces, and residential complexes along highways. Innovation, efficiency, and versatility are key focus areas for manufacturers to meet diverse charging standards and user needs. Safety features and user-friendly designs are essential for gaining brand value and customer trust. Environmental concerns and government norms are driving the transition to zero emission vehicles, leading to the availability of rebates, tax credits, and incentives. Raw material prices and diverse charging standards pose challenges, but companies like ChargePoint, Sunrun, and ConnectDER are addressing these issues with Level 2 home chargers, WiFi capabilities, and various plug types (NEMA 14-50, NEMA 6-50). Brand value, convenience, and charging speed are crucial factors for consumers considering the Chevrolet Volt and Nissan Leaf. As the market evolves, the focus on efficiency, versatility, and safety features will continue to be essential for market success.

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Segment Overview 

This ev charging adapter market report extensively covers market segmentation by

Type 1.1 AC1.2 DCApplication 2.1 Public2.2 PrivateGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 AC- The Ev Charging Adapter Market is experiencing significant growth due to the increasing adoption of electric vehicles. These adapters enable charging at home or on the go, providing convenience for consumers. Manufacturers are focusing on developing efficient and cost-effective solutions to meet the rising demand. Key players in the market include Aptiv, Bosch, and Schneider Electric, among others. Collaborations and partnerships are common strategies to expand market reach and enhance product offerings. The market is expected to continue growing, driven by government initiatives and consumer preferences for sustainable transportation.

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Research Analysis

The Ev Charging Adapter Market is poised for significant growth in the Rapidly Automobile Sector, driven by the increasing popularity of electric vehicles (EVs). Charging adapters enable EVs to connect to various charging stations, with compatibility for different charging connector types such as CHAdeMO and CCS. The market forecast period projects continued expansion, fueled by the improvement of charging infrastructure networks. Individual charging stations, public areas, workplaces, residential complexes, highways, and other locations are installing charging ports to cater to the diverse charging standards of EVs. Safety features and user-friendly designs are key considerations for charging adapters, ensuring a seamless charging experience for users during the transition to electric vehicles. The diverse charging standards and the need for compatibility have led to the development of various connector types. CHAdeMO and CCS are currently the most common, but other standards may emerge. The convenience offered by EV charging adapters is a significant factor in the growth of the market, as they enable EV owners to charge their vehicles at a wider range of charging stations.

Market Research Overview

The Ev Charging Adapter Market is poised for significant growth in the Rapidly Automobile Sector, driven by the increasing popularity of electric vehicles (EVs). Charging adapters enable EVs to charge at various charging stations using different connector types such as CHAdeMO and CCS. The market is forecast to expand during the period due to the improvement of charging infrastructure networks, installation in public areas, workplaces, residential complexes, highways, and the transition to zero emission vehicles. The versatility, efficiency, safety features, and user-friendly designs of EV charging adapters are key factors driving their popularity. However, diverse charging standards and compatibility concerns may pose challenges. Environmental concerns, government norms, raw material prices, and the availability of rebates, tax credits, and incentives also influence market dynamics. Brands like ChargePoint, Sunrun, and ConnectDER offer Level 2 home chargers, meter sockets, and public charging ports. The market is expected to benefit from the increasing popularity of battery-electric vehicles and plug-in hybrid vehicles, including models like the Chevrolet Volt and Nissan Leaf.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeACDCApplicationPublicPrivateGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
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Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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