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Electric Vehicle Boom Fueling Growth in Battery Management IC Market: A Key Factor Shaping the Future of the Battery Management Integrated Circuits (ICs) Market in 2025
Battery Management IC Market Growth
The market size for battery management integrated circuits (ICs) has witnessed substantial advancement in recent years. The market value is set to increase from $5.2 billion in 2024 to $5.58 billion in 2025, achieving a compound annual growth rate (CAGR) of 7.3%. The former growth can be ascribed to incremental demand for portable electronic devices, expansion of the electric vehicle sector, escalating necessity for efficient battery use, an upsurge in the miniaturization of electronic gadgets, and heightened legal requirements for energy efficiency.
The market size for battery management integrated circuits (ICs) is predicted to experience robust growth in the coming years, reaching $7.3 billion by 2029 with a compound annual growth rate (CAGR) of 6.9%. The growth during the predicted period can be tied to factors like the increasing use of electric vehicles, surging demand for portable consumer electronics, a growing focus on renewable energy storage, wider applications of the Internet of Things (IoT), stricter safety regulations, and a rising need for effective power management solutions. Significant trends for the forecast period encompass AI and machine learning integration, the creation of more powerful and compact ICs, progress in ultra-fast charging capabilities, the use of advanced thermal management methods, and innovations in wireless battery management solutions.
What Is Stimulating Growth in the Battery Management Integrated Circuits (ICs) Market?
The battery management integrated circuit (IC) market is predicted to experience significant growth due to the increasing popularity of electric vehicles. Electric vehicles (EVs), which are cars driven by electric motors using power stored in batteries or other storage devices, are experiencing surge in demand. This rise can be credited to technological advancements, environmental concerns, economic benefits, government incentives, safety enhancements, consumer demand, and infrastructure development. Battery management ICs play a critical role in electric vehicles by enhancing battery performance, guaranteeing safe charging and discharging, maintaining cell charge balance, and providing vital data on battery condition and state of charge. As per the International Energy Agency, a France-based intergovernmental organization, there was a noticeable increase in electric vehicle sales by 3.5 million in 2023, a 35% annual rise from 2022. As a result, the growing demand for electric vehicles is fueling the expansion of the battery management integrated circuit (IC) market.
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Which Businesses Are at the Forefront of Battery Management Integrated Circuits (ICs) Market Development?
Major companies operating in the battery management integrated circuits (ICs) market are Samsung Electronics Co. Ltd., Panasonic Holdings Corporation, Qualcomm Incorporated, Toshiba Corporation, Texas Instruments Incorporated, STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors NV, Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor Corporation, Microchip Technology Incorporated, Skyworks Solutions Inc., Qorvo Inc., ROHM Co. Ltd., ams OSRAM AG, Nisshinbo Micro Devices Inc., Diodes Incorporated, Monolithic Power Systems Inc., Semtech Corporation, Torex Semiconductor Ltd., Ablic Inc., Dialog Semiconductor Plc, Eutech Microelectronics Inc., Richtek Technology Corporation
What Are the Latest Innovations in the Battery Management Integrated Circuits (ICs) Market?
Leading entities within the Battery Management Integrated Circuits market are concentrating on innovating technically sophisticated solutions like progressive battery cell controller ICs to boost energy effectiveness, prolong battery longevity, and upgrade system reliability altogether. The high-tech battery cell controller ICs are structured to fine-tune the charging and discharging procedures, elevate thermal management, and offer real-time surveillance, thus improving the functionality and life span of sophisticated battery systems. For example, in November 2023, the NXP Semiconductors N.V., a semiconductor production company from the Netherlands, introduced MC33774, a system designed to enhance the performance durability and safety of battery packs in EVs and energy storage systems. The system's notable feature is its exceptional cell measurement precision of ±0.8 mV, which allows accurate monitoring of as many as 18 lithium-ion cells at a time, a critical aspect of optimising battery efficiency in electric vehicles and energy storage systems. Suitable for applications requiring high safety, it complies with ASIL D safety standards and can operate efficiently within a temperature range of -40°C to +125°C, ensuring consistency under different environmental circumstances. Moreover, the MC33774 enables passive cell balancing to maximize the usable capacity of battery packs by addressing inequalities in charge levels among various cells.
How Is the Battery Management Integrated Circuits (ICs) Market Segmented?
The battery management integrated circuits (ICs) market covered in this report is segmented -
1) By Integrated Circuit (IC) Type: Battery Integrated Circuits (ICs), Battery Authentication Integrated Circuits (ICs), Battery Fuel Gauge Integrated Circuits (ICs), Battery Protector Integrated Circuits (ICs)
2) By Battery Type: Lithium-ion-based, Lead-acid-based, Nickel-based, Flow Batteries, Other Batteries
3) By Application: Automotive, Industrial Equipment, Medical Devices, Consumer Electronics, Other Applications
Subsegments:
1) By Battery Integrated Circuits (ICs): Single-Cell Battery ICs, Multi-Cell Battery ICs, Li-ion/Li-polymer Battery ICs, Battery Management System ICs
2) By Battery Authentication Integrated Circuits (ICs): Authentication ICs For Rechargeable Batteries, Secure Battery Authentication ICs For Smart Devices, Battery Authentication ICs For Electric Vehicles
3) By Battery Fuel Gauge Integrated Circuits (ICs): Single-Cell Fuel Gauge ICs, Multi-Cell Fuel Gauge ICs, High-Precision Fuel Gauge ICs For Automotive Applications, Digital Fuel Gauge ICs For Consumer Electronics
4) By Battery Protector Integrated Circuits (ICs): Overcurrent Protection ICs, Overvoltage/Undervoltage Protection ICs, Thermal Protection ICs, Short-Circuit Protection ICs
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Where Is the Battery Management Integrated Circuits (ICs) Market Growth Most Prominent?
Asia-Pacific was the largest region in the battery management integrated circuits (ICs) market in 2024. The regions covered in the battery management integrated circuits (ICs) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Battery Management Integrated Circuits (ICs) Global Market Report?
- Market Size Analysis: Analyze the Battery Management Integrated Circuits (ICs) Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Battery Management Integrated Circuits (ICs) Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Battery Management Integrated Circuits (ICs) Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Battery Management Integrated Circuits (ICs) Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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