According to the latest report by IMARC Group, titled "Battery Management System Market: Global Industry Trends, Share, Growth, Opportunity and Forecast 2022-2027," the global Battery Management market is expected to exhibit a CAGR of 18.9% during 2022-2027.
Battery Management System Market Overview:
Battery management system (BMS) is an electrical regulator that monitors the performance and usage of a battery. It ensures that the battery operates below the maximum voltage and current levels and collects and analyzes operational data from individual cells. A battery management system is also used for calculating the amount of energy remaining, protecting the battery pack from getting over-charged or discharged, and continuously checking for shorts, loose connections, or breakdowns in wire insulation. As a result, it finds widespread utilization across various sectors, such as telecommunications, healthcare, automotive, consumer electronics, renewable energy, etc.
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Global Battery Management System Market Trends:
The escalating requirement for electric vehicles (EVs) and hybrid electric vehicles (HEVs) across the globe, on account of the rising environmental consciousness, is among the primary factors driving the battery management system market. Besides this, the elevating demand for these regulators in electronic automobiles to manage lithium-ion batteries for longer operational life and higher energy densities than traditional batteries is further augmenting the market growth. Apart from this, the growing popularity of battery management solutions for power flow measurement, controlled energy production and distribution, and monitoring information on electricity usage is also catalyzing the global market. Moreover, the emerging trend of modernization in off-grid renewable power generation plants is acting as another significant growth-inducing factor. Furthermore, the increasing need for rechargeable batteries in consumer electronics and the development of innovative cloud-based techniques are anticipated to propel the battery management system market over the forecasted period.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
- Eberspaecher Vecture
- Elithion Inc.
- Johnson Matthey
- Lithium Balance
- Navitas Systems LLC (East Penn Manufacturing Company)
- Nuvation Engineering
- NXP Semiconductor N.V.
- Storage Battery Systems LLC
- Valence Technology Inc.
- Lithium Werks B.V.
Breakup by Battery Type:
- Lithium-Ion Based
- Lead-Acid Based
- Nickel Based
Breakup by Type:
- Motive Battery
- Stationary Battery
Breakup by Topology:
Breakup by Application:
- Electric Vehicles
- Golf Carts
- Military and Defense
- Consumer Electronics
- Renewable Energy Systems
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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