Global Battery Management Systems Market Set to Grow USD 12,740 Million By 2025

Facts and Factors Market Research has published a new report titled “Battery Management Systems Market By Component (Hardware and Software), By Battery Type (Lithium-Ion-Based Batteries, Flow Batteries, Advanced Lead-Acid Batteries, Nickel-Based Batteries, and Others), By Topology (Centralized, Distributed, and Modular), and By Application (Automotive, Medical, Renewable Energy System, Military, Portable Device, Uninterrupted Power Supply (UPS), Telecommunication, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2025”. According to the report, the global Battery Management Systems market is predicted to be valued at approximately USD 3,306 million in 2018 and is expected to reach a value of around USD 12,740 million by 2025, at a CAGR of around 21.2% between 2019 and 2025.

Battery management systems are the electronic systems that handle rechargeable battery cell or battery pack including the battery protection from functioning out of its safe operating field, state monitoring of the battery, secondary data measurement, secondary data reporting, environment control, and data authentication.

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Moreover, the battery management systems comprise various functional blocks including cut-off FETs, temperature monitors, cell voltage balance, fuel-gauge monitor, real-time clock (RTC), cell voltage monitor, and state machine. Precisely, these systems are real-time systems regulating various operations key to safe & authentic functions of electric power storage systems in electric vehicles such as maintenance scheduling, temperature monitoring, optimizing battery performance, failure prediction, and battery data analysis.

Burgeoning usage of battery-driven instruments to steer the market growth

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The large-scale utilization of battery-operated equipment such as e-motorbikes, electrical cars, and portable equipment will steer the growth of the battery management systems industry over the forecast period. Moreover, portable products like laptops, smartphones, tablets, digital cameras, and music players need rechargeable batteries for providing proficient portable power supply and this will favorably influence the market growth over the forecast period.

Furthermore, a huge demand for portable consumer equipment and electronic cars requiring battery recharge will prompt business growth. Apart from this, escalating popularity of the UPS systems due to massive need for backup power will enlarge the market scope over the forecast period. Moreover, data centers, servers, and medical & electronic instruments require UPS (uninterested power supply) systems, thereby further carving the profitable growth map for the battery management systems industry over the forecast timeline. However, lack of regional technical abilities to create & generate energy vehicle parts along with lack of strong will among the governments in emerging economies to aid use of energy vehicles can restrict the market growth. Nevertheless, growing trend of using battery-supported cost-efficient & eco-friendly public transportation activities among the consumers will open new growth vistas for the industry over the forecast period.

Lithium-Ion-based batteries to dominate the battery type segment over the forecast timeframe

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The segmental growth during the forecast period is credited to the massive use of the product in electric cars, sustainable power systems, and portable instruments. Apart from this, the large scale use of the lithium-ion–based battery in a plethora of industries due to its beneficial features like light weightiness, high energy & power density, and low standby losses will boost the growth of segment over the forecast timeline.

Automotive segment to register highest CAGR over the forecast period

The automotive segment is set to record the highest growth rate of over 21% during the period from 2019 to 2025. The segmental growth during 2019-2025 is attributed to large scale utilization of battery management systems for regulating high volt batteries in electric & hybrid cars.

North America to account for major regional market revenue over the forecast period

The regional market growth over 2019-2025 is credited to the humungous preference for battery-driven electric cars in countries like the U.S. and Canada.

Some of the key players involved in the business include Valence Technology, Inc., NXP Semiconductors,Texas Instruments Incorporated, Larsen & Toubro Limited, Linear Technology, Eberspächer, Ashwoods Electric Motors, Lithium Balance, Atmel Corporation, Elithion, Inc., AVL, Ewert Energy Systems, Inc., Johnson Matthey, Midtronics, Mastervolt, Merlin, Nuvation Engineering, Navitas System, LLC, Panasonic Corporation, TOSHIBA CORPORATION, and VENTEC among others.

This report segments the Battery Management Systems market as follows:

Battery Management Systems Market: By Component Analysis

Hardware
Battery Control Unit
Power Management IC
Communication Channel
Software

Battery Management Systems Market: By Battery Type Analysis

Lithium-Ion-Based Batteries
Flow Batteries
Advanced Lead-Acid Batteries
Nickel-Based Batteries
Others (Sodium-Sulfur (NAS) Batteries and Solid State Batteries)

Battery Management Systems Market: By Topology Analysis

Centralized
Distributed
Modular

Battery Management Systems Market: By Application Analysis

Automotive
Electric Vehicles
E-Bikes
Automated Guided Vehicles
Medical
Renewable Energy System
Military
Portable Device
Consumer Electronics
Portable Power Tools
Portable Batteries
Uninterrupted Power Supply (UPS)
Telecommunication
Others ( Marine, Home Appliances)

Battery Management Systems Market: By Regional Segment Analysis

North America
U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
Middle East and Africa

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