Battery Management System Market: E-Vehicles to be the high value application

Battery management system is an electronic system that helps maintain optimal health of rechargeable batteries. The BMS manages batteries by controlling load environment, monitoring battery state and accordingly balancing charging the battery.

Battery management system is useful for ensuring prolonged life of batteries, preventing battery damage due to overcharging and voltage fluctuations, managing optimal state of charging of the battery and facilitating BMS interfaces with host application to provide real-time information regarding battery health.

The global battery management system market is projected to reach US$ 11,730.0 Mn by 2025, expanding at an estimated CAGR of 19.9% during the forecast period.

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The electronics manufacturers are focusing on manufacturing miniature versions of electronic products, due to which size of BMS is being reduced by the manufacturers. Increasing demand for minimising fuel costs and maximising vehicle efficiency has led to technological advancements in electric and hybrid electric vehicles.

Apart from the other sectors, consumption of rechargeable batteries is growing in the consumer electronics sector as well. Rechargeable batteries are used in products such as power tools and vacuum pumps, and rise in demand for these products is driving the growth of the global battery management system market currently.

The global battery management system market is segmented on the basis of verticals into automotive, energy, telecom and drones. Among the automotive verticals, demand for BMS in e-vehicles is significant, and the segment is estimated to account for 14.2% revenue share of the global battery management system market by the end of 2015.

As per FMI estimates, this segment is projected to expand at a CAGR of 21.1% during the forecast period.

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By the end of 2015, APEJ is estimated to dominate the market and account for around 29.1% share of the global market, followed by North America and Western Europe.

The companies that have been analysedin the report include The Ventec Company, Nuvation Engineering, Ashwoods Energy Limited, TWS, Lithium Balance Corporation, Vecture Inc., Toshiba Corporation, L&T Technology Services Ltd., Merlin Equipment Ltd., AVL, Navitas System LLC and Johnson Matthey PLC.

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