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Industrial Barcode Scanner Market to Grow by USD 2.61 Billion from 2024-2028, Driven by Industry 4.0, Report Highlights AI’s Role in Reshaping the Market – Technavio

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NEW YORK, Sept. 17, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global industrial barcode scanner market  size is estimated to grow by USD 2.61 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  10.68%  during the forecast period.  Evolution of industry 4.0 is driving market growth, with a trend towards use of wearables with the same functionalities as traditional barcode scanners. However, high purchasing cost of industrial barcode scanners  poses a challenge. Key market players include Advantech Co. Ltd., Bluebird Inc., CipherLab Co. Ltd., Cognex Corp., Datalogic SpA, DENSO Corp., EUROTECH Spa, Generalscan, Honeywell International Inc., Mexxen Technology Inc., Newland Digital Technology Co. Ltd., OMRON Corp., Opticon Sensors Europe BV, Portable Technology Solutions LLC, RIOTEC Co. Ltd., SATO Holdings Corp., Unipro Tech Solutions Pvt. Ltd., Unitech Computer Co. Ltd., ZEBEX INDUSTRIES INC., and Zebra Technologies Corp..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Manufacturing, Transportation and logistics, Retail, Food and beverages, and Others), Product (Mobile computers, Handheld scanners, and Ring scanners), and Geography (North America, APAC, Europe, South America, and Middle East and Africa)

Region Covered

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

Key companies profiled

Advantech Co. Ltd., Bluebird Inc., CipherLab Co. Ltd., Cognex Corp., Datalogic SpA, DENSO Corp., EUROTECH Spa, Generalscan, Honeywell International Inc., Mexxen Technology Inc., Newland Digital Technology Co. Ltd., OMRON Corp., Opticon Sensors Europe BV, Portable Technology Solutions LLC, RIOTEC Co. Ltd., SATO Holdings Corp., Unipro Tech Solutions Pvt. Ltd., Unitech Computer Co. Ltd., ZEBEX INDUSTRIES INC., and Zebra Technologies Corp.

Key Market Trends Fueling Growth

The industrial barcode scanner market is expected to witness significant growth during the forecast period due to the increasing adoption of advanced wearable devices. Traditional barcode scanners are being replaced with smart glasses, which offer additional functionalities like barcode and QR code scanning. DHL is one of the companies that have already adopted smart glasses in their logistics operations. However, ensuring the barcodes are within the line of sight of the device for decoding remains a challenge. Improvements in barcode formats, such as linear and laser, are expected to address this issue, leading to the widespread adoption of smart glasses in place of traditional wearable scanners. This trend will positively impact the growth of the global industrial barcode scanner market. 

The Industrial Barcode Scanner market is witnessing significant growth due to automation trends in various industries. Retail outlets, e-commerce, courier services, and e-retailers are increasingly adopting barcode scanning technology for digitization and data exchange. Industrial cameras and cyber-physical systems are integrating barcode scanning equipment into robots and AI for real-time insight in logistics industry. 2D scanners, data matrices, and QR codes are popular for identifying and tracking goods, parts, and assets in industrial settings. Design and high-performance capabilities are essential for barcode scanners in demanding locations like production floors and warehouses. Laser and image scanners, RFID systems, portable, and fixed-mount handheld scanners cater to diverse industrial needs. The market is expected to grow further with the integration of cloud technology and semi-autonomous techniques. 

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Market Challenges

The industrial barcode scanner market is experiencing growth, marked by rising sales and decreasing customer costs. However, the high cost of industrial barcode scanners is a significant barrier to their widespread adoption across industries. For instance, an industrial barcode scanner can cost over USD600, while a general-purpose one is typically priced at around USD200. This price difference poses a challenge for businesses looking to implement industrial barcode scanning systems. Additionally, the adoption of industrial wearables brings about the challenge of justifying the investment’s return. The high cost of implementation and procurement, combined with the high ROI potential of innovative, smart products, may hinder the growth of industrial wearable scanners in the forecast period.The Barcode Scanner Market is experiencing significant growth in various sectors like Retail and Commercial, Logistics and Warehousing, Commercial Aviation, Defense, and Public Distribution System. Challenges in this market include wireless connectivity, image recognition, and asset tracking. Hybrid scanners that offer both barcode and image recognition capabilities are gaining popularity. The Retail sector and Warehousing sector are major consumers of Barcode Readers for benefits like inventory control, account keeping, and tracking and supply. Merchants in the Retail sector are adopting Handheld Barcode Scanners for quick scanning, while Warehousing sector prefers Stationary Barcode Scanners for bulk scanning. Wired Barcode Scanners are cost-effective, but Wireless Barcode Scanners offer technological advantages like mobility and flexibility. Rugged Barcode Scanners are preferred in harsh environments, while Non-Rugged Barcode Scanners are suitable for indoor use. Camera-Based Readers, Laser Scanners, Omni-Directional, Pen Type Readers, RFID Readers, and Services are other types of Barcode Scanning solutions. The Printing of Barcodes is a crucial aspect of Barcode Technology. The Market Snapshot shows continued growth potential due to the benefits it offers. CCD-based and Pen-style Barcode Scanners use different technologies, while Laser-based and CMOS sensors offer varying levels of accuracy.

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Segment Overview 

This industrial barcode scanner market report extensively covers market segmentation by

Application 1.1 Manufacturing1.2 Transportation and logistics1.3 Retail1.4 Food and beverages1.5 OthersProduct 2.1 Mobile computers2.2 Handheld scanners2.3 Ring scannersGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Manufacturing-  In the manufacturing sector, barcode scanners serve a vital role in streamlining operations. These devices enable manufacturers to monitor inventory levels, identify component locations, and track production progress by scanning barcodes on raw materials and finished products. By ensuring accurate component usage and early identification of quality issues, barcode scanners enhance efficiency and minimize wastage. Furthermore, barcode scanning is utilized for various applications, including receiving, inventory transactions, picking stock, work in process tracking, product identification, and shipping. QR codes are also employed for marketing purposes. The significance of barcode scanning in the manufacturing industry is expected to fuel the expansion of the global industrial barcode scanner market throughout the forecast period.

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Research Analysis

The Industrial Barcode Scanner Market is experiencing significant growth due to the increasing automation in various industries, including retail outlets, courier services, e-commerce, and the warehousing sector. Barcode scanning technology, a key component of digitization, enables efficient data capture procedures in industrial settings for identification, tracking, and management of goods, parts, and assets. Design and technological advantages make industrial barcode scanners ideal for use in harsh environments. The growth potential of this market is vast, with benefits including improved accuracy, increased productivity, and enhanced supply chain tracking and management for merchants and e-retailers. Industrial barcode scanning equipment, including barcode readers and industrial cameras, are essential tools for digitalization, providing technological advantages over manual data entry methods. The printing of barcodes is also a crucial aspect of this market, ensuring seamless integration of barcode scanning into industrial processes.

Market Research Overview

The Industrial Barcode Scanner Market is experiencing significant growth due to the automation of various industries, including retail outlets, logistics, manufacturing, healthcare, and more. Barcode scanning technology is a crucial element of digitization and e-commerce, enabling real-time data exchange and tracking of goods, parts, and assets in industrial settings. Industrial barcode scanners come in various forms, such as industrial cameras, handheld scanners, and RFID systems, catering to demanding locations like production floors, warehouses, and logistics hubs. Design and high performance capabilities are essential features of industrial barcode scanners, ensuring scanning accuracy in various lighting conditions and environments. The market is witnessing technological advancements, such as 2D imaging technology, wireless connectivity, and machine learning, which offer benefits like real-time insight, inventory management, and efficiency for industrial businesses. The growth potential of the market is significant, driven by the technological advantages of barcode scanning equipment, including data collection accuracy, real-time data processing, and image recognition. Handheld barcode scanners, 2D scanners, data matrices, and QR codes are popular types of barcode scanning technology used in industrial settings. The market includes various players offering semi-autonomous techniques, such as cyber-physical systems, robots, and smart barcode scanners, to enhance productivity and reduce errors. The logistics industry, e-retailers, and courier services are significant end-users of industrial barcode scanners, while the retail sector and warehousing sector are also major contributors to the market’s growth. The printing of barcodes is another essential aspect of the market, ensuring the availability of barcodes for scanning and tracking purposes. Overall, the Industrial Barcode Scanner Market is poised for growth, driven by the benefits of barcode technology, including account keeping, inventory control, and tracking and supply, in various industries.

Table of Contents:

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

ApplicationManufacturingTransportation And LogisticsRetailFood And BeveragesOthersProductMobile ComputersHandheld ScannersRing ScannersGeographyNorth AmericaAPACEuropeSouth 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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SOURCE Technavio

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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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SOURCE 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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SOURCE Technavio

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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

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