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Soaring Demand Set to Propel Battery State-Of-Health Analytics Market to $2.69 Billion by 2029
Battery State Of Health Analytics Market
What Is the Expected CAGR for the Battery State-Of-Health Analytics Market Through 2025?
Over the recent years, the market for battery state-of-health analytics has experienced a quick expansion. The market size is set to increase from $1.12 billion in 2024 to $1.33 billion in 2025, marking a compound annual growth rate (CAGR) of 19.5%. This notable growth during the historical period is due to various factors such as a surge in investments towards renewable energy integration, a rise in the adoption of fleet electrification, a growing demand for intelligent charging infrastructures, a heightened consumer preference for batteries with longer lifespans, and an increase in the application of advanced battery chemistries.
What's the Projected Size of the Global Battery State-Of-Health Analytics Market by 2029?
The market size for battery state-of-health analytics is projected to experience substantial growth in the coming years, reaching $2.69 billion in 2029 with a CAGR of 19.2%. This surge during the forecast period can be linked to factors such as the rising popularity of electric cars, the growing demand for energy storage systems, increased understanding of the implications of battery degradation, the heightened regulatory emphasis on battery safety and dependability, and the expanding need for predictive maintenance solutions. The primary trends for this period are expected to include progressions in AI-powered diagnostics, sophisticated predictive analytics models, the creation of cloud-based monitoring platforms, advancements in data-driven battery management, and progresses in IoT-enabled health system states.
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Top Growth Drivers in the Battery State-Of-Health Analytics Industry: What's Accelerating the Market?
The progression of the battery state-of-health analytics market is poised to be fueled by the escalating uptake of electric vehicles. Cars powered by electricity, either fully or partially, instead of traditional fuels, come under the category of electric vehicles (EVs). These EVs are gaining momentum due to mounting environmental problems since they emit no exhaust gases, contributing towards the decrease in air contamination and effects of greenhouse gases as opposed to traditional combustion engine vehicles. Battery state-of-health (SoH) analytics play a crucial role in the realm of EVs - they keep track of the performance of the battery, forecast deterioration, boost usage, prolong battery lifespan, promise dependability, and heighten the overall efficacy of the vehicle. The International Energy Agency (IEA), an autonomous intergovernmental organization based in France, reports that 2023 saw sales of electric cars rise by 3.5 million as compared to 2022 - indicating a year-on-year uptick of 35%. Consequently, the surging adoption of electric vehicles is propelling the advance of the battery state-of-health analytics market.
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What Trends Will Shape the Battery State-Of-Health Analytics Market Through 2029 and Beyond?
Leading players in the battery state-of-health analytics market are currently prioritizing the development of enhanced technological solutions, such as the exclusive battery degradation algorithm, with the aim to improve battery functionality, prolong its lifespan, and manage energy more efficiently for electric vehicles and energy storage systems. The proprietary battery degradation algorithm is a unique, in-house computational process created to study, foresee, and calculate the decay or aging process of a battery over time, offering precise data about its remaining capacity, efficiency, and overall health condition. To try and illustrate this, FlexGen Power Systems LLC, a firm based in the US focusing on energy storage technology, unveiled a proprietary state health (SOH) feature within its HybridOS energy management software in March 2025, aiding clients in maximising battery energy storage efficiency. It provides an exact, location-specific analysis of battery degradation by probing the actual energy flow within batteries rather than relying solely on vendor lab data. This allows for more accurate planning for system upgrades, warranty claims, and implementing strategies to prolong battery life and enhance energy storage efficiency. This ultimately empowers operators to fine-tune system performance, minimise revenue loss, and confidently forecast the battery capacity throughout its lifespan.
What Are the Main Segments in the Battery State-Of-Health Analytics Market?
The battery state-of-health analytics market covered in this report is segmented as
1) By Component: Software, Hardware, Services
2) By Battery Type: Lithium-Ion, Lead-Acid, Nickel-Based, Other Battery Types
3) By Deployment Mode: On-Premises, Cloud
4) By End-User: Automotive, Energy And Utilities, Consumer Electronics, Industrial, Aerospace And Defense, Other End Users
Subsegments:
1) By Software: Battery Management Software, Predictive Analytics Tools, Diagnostic And Monitoring Software
2) By Hardware: Battery Sensors, Data Loggers, Control Units
3) By Services: Consulting And Advisory Services, Integration And Deployment Services, Maintenance And Support Services
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Which Top Companies are Driving Growth in the Battery State-Of-Health Analytics Market?
Major companies operating in the battery state-of-health analytics market are Panasonic Corporation, Gs Yuasa Corporation, East Penn Manufacturing Co., Leoch International Technology Limited, Saft Batteries, Geotab Inc., FIAMM Energy Technology, Hbl Power Systems Ltd., TWAICE Technologies GmbH, Qnovo Inc., Accure Battery Intelligence GmbH, Nuvation Energy Inc., ION Energy Pvt. Ltd., Voltaiq Inc., Bamomas Oy, Byterat Technologies Ltd., Eatron Technologies Ltd., Electra Vehicles Inc., Energsoft Inc., Northstar Battery Company, ReJoule Inc., Jump Energy Inc.
Which Regions Will Dominate the Battery State-Of-Health Analytics Market Through 2029?
North America was the largest region in the battery state-of-health analytics market in 2024. The regions covered in battery state-of-health analytics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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