Lithium-Ion Battery Management Systems Market Latest Technology Advancements, Growth and Future Scope 2021 to 2027

Lithium-Ion Battery Management Systems Market 2021 report helps the clients to take business decisions and to understand strategies of major players in the industry. The report also calls for market- driven results deriving feasibility studies for client needs. Market Insights Reports ensures qualified and verifiable aspects of market data operating in the real- time scenario. The analytical studies are conducted ensuring client needs with a thorough understanding of market capacities in the real- time scenario.

The global Lithium-Ion Battery Management Systems market size was valued at $5.81 billion in 2019, and is projected to reach $24.83 billion by 2027, registering a CAGR of 20.2% from 2020 to 2027. 

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Top Companies in the Global Lithium-Ion Battery Management Systems Market: Calsonic Kansei, Continental AG, DENSO, LG Chem, Lithium Balance, Mitsubishi Electric, Panasonic, Renesas Electronics, Samsung SDI, Roboteq, PowerTech Systems, Tyva Moduloo, Tesla, Atmel, Elithion, Ewert Energy Systems and others.

Industry News:

In January 2021, Texas Instruments, Inc. launched Wireless Battery Management System for Electric Vehicles. The new battery management system (BMS) allows the control and monitoring of better cells to be established wirelessly, saving weight and eliminating cabling.

Market Overview:

A battery management system can be defined as the brain behind battery packs. It is an electronic system that controls and monitors charging and discharging of battery and provides notifications about the status and condition of battery packs. In addition, providing critical safeguard to protect batteries from damage is one of the primary functions of battery management system. Design of lithium-ion battery has two critical design issues. First issue is that they can be damaged if overcharged and result into overheating, flames, or others. In addition, lithium ion battery can also be damaged if discharged below certain threshold, which is around 5% of the total capacity. If the batteries are allowed to discharge below this level, the battery might get damaged permanently.

Regional Analysis:

Asia-Pacific is likely to be a major market for battery management systems during the forecast period. In Asia-Pacific, China is expected to witness strong growth, owing to the rapid growth in the EV market.

The rising demand for consumer electronics is likely to further add to the demand for BMS, owing to the increasing integration of BMS in consumer electronics for safety purposes.

China is the biggest market for EVs, globally. China’s EV cars stock market share increased from around 23% in 2015 to 44% in 2020, with around 4.5 million units deployed by end of 2020.

Market Segmented by Types:

Lithium Iron Phosphate Battery Management System

Ternary Lithium Battery Management System

Market Segmented by Applications:

Electric Vehicles

Hybrid Vehicles

Regional Analysis:

– North America (United States, Canada, Mexico)

–Europe (Germany, UK, France, Italy, Spain, Russia)

–Asia-Pacific (China, Japan, South Korea, Australia, India)

–South America (Brazil, Argentina, Columbia)

–The Middle East and Africa (UAE, Egypt, South Africa)

Influence of the Lithium-Ion Battery Management Systems market report:

-Comprehensive assessment of all opportunities and risk in the Lithium-Ion Battery Management Systems market.

-Lithium-Ion Battery Management Systems market recent innovations and major events.

-Detailed study of business strategies for growth of the Lithium-Ion Battery Management Systems market-leading players.

-Conclusive study about the growth plot of Lithium-Ion Battery Management Systems market for forthcoming years.

-In-depth understanding of Lithium-Ion Battery Management Systems market-particular drivers, constraints and major micro markets.

-Favorable impression inside vital technological and market latest trends striking the Lithium-Ion Battery Management Systems market.

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Important Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of Market

– Changing market dynamics of the industry

– In-depth market segmentation by Type, Application etc.

– Historical, current and projected market size in terms of volume and value

– Recent industry trends and developments

– Competitive landscape of Market

– Strategies of key players and product offerings

– Potential and niche segments/regions exhibiting promising growth

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