Press release
Battery Safety-Monitoring System Market Poised to Hit $2.68 Billion by 2029 with Accelerating Growth Trends
Battery Safety Monitoring System
Battery Safety-Monitoring System Market Size Growth Forecast: What to Expect by 2025?
There has been a swift expansion in the market for battery safety-monitoring systems in the past few years. The market is projected to increase from $1.37 billion in 2024 to $1.58 billion in 2025, with a compound annual growth rate (CAGR) of 14.7%. The significant growth over the historic period can be credited to factors such as the escalating uptake of electric vehicles, increased requirement for renewable energy storage systems, rising industrial automation efforts, stricter safety regulations regarding energy storage, and the growth of the consumer electronics sector.
How Will the Battery Safety-Monitoring System Market Size Evolve and Grow by 2029?
It is anticipated that the market for battery safety-monitoring systems will experience swift expansion in the coming years, with projections estimating its value at $2.69 billion in 2029, reflecting a compound annual growth rate (CAGR) of 14.3%. The predicted upturn during this period can be linked to the ongoing shift towards a sustainable energy framework, the rapid progression of smart grids, the increase in governmental incentives for adhering to energy safety regulations, the extended application of electric mobility solutions, and the heightened necessity for high-capacity energy storage in data centers. Key developments expected during this period encompass progress in real-time data analytics, the incorporation of AI-based predictive safety algorithms, the construction of cloud-connected monitoring infrastructures, the enhancement of wireless sensor communication networks, and the downscaling of monitoring hardware parts.
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What Drivers Are Propelling the Growth of Battery Safety-Monitoring System Market Forward?
The upswing in the uptake of consumer electronics is anticipated to drive the battery safety-monitoring system market's expansion. Consumer electronics include electronic gadgets designed for personal and everyday use such as smartphones, tablets, laptops, and home entertainment systems. The growing demand for these devices results from the increasing use of connected technologies and smart devices in daily life. By offering real-time monitoring and protection for devices' batteries, battery safety-monitoring systems improve the consumer electronics ecosystem making devices more safe and dependable. They lower the risk of overcharging, overheating, or short circuits through timely warnings and automatic safeguards, thus enhancing user safety and device lifespan. For example, in February 2024, the Japan Electronics and Information Technology Industries Association, a trade organization based in Japan, reported an increase in consumer electronic equipment production to $201.91 million (¥31,685 million) in 2024, a significant rise from $149.27 million (¥23,425 million) in 2023. Consequently, the burgeoning adoption of consumer electronics is triggering the growth of the battery safety-monitoring system market.
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Which Emerging Trends Are Transforming the Battery Safety-Monitoring System Market in 2025?
Leading firms in the battery safety-monitoring system market are channeling efforts into creating innovative products like automotive battery safety integrated circuits (ICs) to improve the efficiency and dependability of battery management systems. These ICs are specifically crafted to oversee and control the charging and discharging states of multiple batteries in vehicles, safeguarding their smooth functioning and shielding them from potential damage due to overvoltage, undervoltage, or glitches. As an example, ABLIC, a Japanese electronics component producer and affiliate of MinebeaMitsumi Inc., in November 2024, unveiled the S-19193 Series. This product line offers independent secondary battery surveillance that remains operational, even when the main system collapses, bolstering fail-operational and fail-degraded safety approaches. Moreover, it can function independently without the need for microcontroller control, which streamlines design workflows and mitigates the likelihood of concurrent system breakdowns.
What Are the Key Segments in the Battery Safety-Monitoring System Market?
The battery safety-monitoring system market covered in this report is segmented as
1) By Component: Hardware, Software, Services
2) By Battery Type: Lithium-Ion, Lead-Acid, Nickel-Based, Flow Batteries, Other Battery Types
3) By Application: Automotive, Energy Storage Systems, Consumer Electronics, Industrial, Aerospace And Defense, Other Applications
4) By End-User: Original Equipment Manufacturer (OEMs), Aftermarket, Utilities, Other End-Users
Subsegments:
1) By Hardware: Battery Management Units, Temperature Sensors, Voltage And Current Sensors, Communication Interfaces
2) By Software: Battery Monitoring Software, Data Analytics Platforms, Predictive Maintenance Software, Battery Performance Optimization Tools
3) By Services: Installation And Integration Services, Maintenance And Support Services, Consulting And Training Services, System Calibration Services
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Who Are the Key Players Shaping the Battery Safety-Monitoring System Market's Competitive Landscape?
Major companies operating in the battery safety-monitoring system market are Panasonic Corporation, Schneider Electric SE, GE Vernova Inc., ABB Ltd., GS Yuasa Corporation, EnerSys, East Penn Manufacturing Co. Inc., Exide Industries Ltd., Leoch International Technology Limited, Luminous Power Technologies Pvt. Ltd., Saft Groupe S.A., FiamM Energy Technology S.p.A., Okaya Power Private Limited, HBL Power Systems Ltd., Tata AutoComp GY Batteries Pvt. Ltd., Socomec SAS, Eagle Eye Power Solutions LLC, Microtek International Pvt. Ltd., CSB Energy Technology Co. Ltd., Astra International Tbk
What Geographic Markets Are Powering Growth in the Battery Safety-Monitoring System Market?
North America was the largest region in the battery safety-monitoring system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in battery safety-monitoring system report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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