The global EVM components market, valued at an estimated USD 205.8 billion in 2024, is being redefined by growing demand from both consumers and enterprises and is projected to expand at a CAGR of 22.5% by 2034. The EVM components market growth is being fueled by the rapid adoption of electronic EVM modules, embedded EVM components, and industrial EVM components across electric vehicles, industrial automation, and IoT-enabled platforms. Increasing integration of IoT EVM modules and high-performance EVM components is enhancing connectivity, data monitoring, and energy efficiency in modern EVM electronics devices. EVM components industry Asia-Pacific has emerged as a leading growth hub, with China, India, and Southeast Asia registering nearly double the global growth rate for EVM boards, EVM system modules, and embedded system EVM, driven by cost-effective manufacturing, government incentives, and rising EV adoption. Meanwhile, North America and Europe continue to dominate advanced EVM modules, professional EVM modules, and high-speed EVM components, focusing on innovation, premium quality, and industrial-grade EVM hardware modules.
EVM Components overview
Published by MMR Statistics Research Team, Updated