South & Central American EV Testing Equipment Market
Dublin, Sept. 12, 2022 (GLOBE NEWSWIRE) -- The "South & Central America EV Testing Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Vehicle Type, Equipment Type, Application, and End Users" report has been added to ResearchAndMarkets.com's offering.
The EV testing equipment market in South & Central America is expected to grow from US$ 704.41 million in 2021 to US$ 1,364.72 million by 2028. It is estimated to grow at a CAGR of 9.9% from 2021 to 2028.
The accelerated technological development of next-generation electric vehicles and their supporting components and the evolution of charging technology providers lead to rapid advancements in EV charging technology. The operations of electric vehicle charging stations are transforming due to the rising penetration of artificial intelligence (AI), the internet of things, and cloud computing, as major players in the EV test equipment market are beginning to shift their focus toward the development of smart testing protocols, which enables data connection between stations and EVs.
Many technology providers, including ABB, Delta Electronics, and Enel X, focus on next-generation EV testing technology to integrate cloud connectivity, AI, access via smartphone, and real-time simulation in their infrastructure.
Furthermore, the emergence of new software solutions, such as cloud-based digital solutions for real-time fleet management and acceleration in electrification, is shaping the EV test equipment market. For instance, the charging management software offered by EVBox enables users to track, manage, and optimize their EV driving experience. Hence to monitor this, AI-integrated efficient testing solutions will be in major demand over the forecast period.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the South & Central America EV testing equipment market at a substantial CAGR during the forecast period.
The South & Central America EV testing equipment market is segmented on the basis of vehicle type, equipment type, application, and country. Based on vehicle type, the market is segmented into passenger car, commercial vehicle, and low speed electric vehicles.
Fostering Production and Sales of EVs
Extending Support from Governments
Heavy Cost EV Testing Equipment
Higher Integration of New Technologies
Smart Charging and Connected Infrastructure
National Instruments Corporation
KEYSIGHT TECHNOLOGIES, INC.
INTERTEK GROUP PLC
WONIK PNE CO., LTD
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