13-Jan-2020 | Facts and Factors
Facts and Factors Market Research has published a new report titled “Battery Management Systems Market By Battery Type (Lithium-Ion-Based, Lead-Acid-Based, Nickel-Based, Flow Batteries, & Others), By Topology Type (Centralized, Distributed, & Modular), By Application (Automotive, Consumer Electronics, Medical & Electronics, Military & Defense, Renewable Energy Systems, Telecommunication, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 ¬ 2026”. According to the report, the global Battery Management Systems market is predicted to be valued at approximately USD 5.7 Billion in 2020 and is expected to reach a value of around USD 13.4 Billion by 2026, at a CAGR of around 12.7% between 2021 and 2026.
Battery management systems are the electronic systems that handle rechargeable battery cells or battery packs including the battery protection from functioning out of its safe operating field, state monitoring of the battery, secondary data measurement, secondary data reporting, environment control, and data authentication.
Browse the full “Battery Management Systems Market By Battery Type (Lithium-Ion-Based, Lead-Acid-Based, Nickel-Based, Flow Batteries, & Others), By Topology Type (Centralized, Distributed, & Modular), By Application (Automotive, Consumer Electronics, Medical & Electronics, Military & Defense, Renewable Energy Systems, Telecommunication, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 ¬ 2026” Report at https://www.fnfresearch.com/battery-management-systems-market-by-component-hardware-and-288
Moreover, the battery management systems comprise various functional blocks including cut-off FETs, temperature monitors, cell voltage balance, fuel-gauge monitor, real-time clock (RTC), cell voltage monitor, and state machine. Precisely, these systems are real-time systems regulating various operations key to safe & authentic functions of electric power storage systems in electric vehicles such as maintenance scheduling, temperature monitoring, optimizing battery performance, failure prediction, and battery data analysis.
Burgeoning usage of battery-driven instruments to steer the market growth
The large-scale utilization of battery-operated equipment such as e-motorbikes, electrical cars, and portable equipment will steer the growth of the battery management systems industry over the forecast period. Moreover, portable products like laptops, smartphones, tablets, digital cameras, and music players need rechargeable batteries for providing a proficient portable power supply and this will favorably influence the market growth over the forecast period.
Furthermore, a huge demand for portable consumer equipment and electronic cars requiring battery recharge will prompt business growth. Apart from this, escalating popularity of the UPS systems due to the massive need for backup power will enlarge the market scope over the forecast period. Moreover, data centers, servers, and medical & electronic instruments require UPS (uninterested power supply) systems, thereby further carving the profitable growth map for the battery management systems industry over the forecast timeline. However, lack of regional technical abilities to create & generate energy vehicle parts along with lack of strong will among the governments in emerging economies to aid the use of energy vehicles can restrict the market growth. Nevertheless, the growing trend of using battery-supported cost-efficient & eco-friendly public transportation activities among the consumers will open new growth vistas for the industry over the forecast period.
Lithium-Ion-based batteries to dominate the battery type segment over the forecast timeframe
The segmental growth during the forecast period is credited to the massive use of the product in electric cars, sustainable power systems, and portable instruments. Apart from this, the large-scale use of the lithium-ion–based battery in a plethora of industries due to its beneficial features like light weightiness, high energy & power density, and low standby losses will boost the growth of the segment over the forecast timeline.
Automotive segment to register highest CAGR over the forecast period
The automotive segment is set to record the highest growth rate of over 21% during the period from 2019 to 2025. The segmental growth during 2019-2025 is attributed to large scale utilization of battery management systems for regulating high volt batteries in electric & hybrid cars.
North America to account for major regional market revenue over the forecast period
The regional market growth over 2019-2025 is credited to the humungous preference for battery-driven electric cars in countries like the U.S. and Canada.
Top Market Players
The key market participants for the global battery management systems market are Leclanche, Lithium Balance, Nuvation Engineering, Eberspaecher Vecture, Storage Battery System, Johnson Matthey, Linear Technology Corporation, BMS Powersafe, Texas Instruments, NXP Semiconductors NV, Renesas Electronics Corporation, Analog Devices, Inc., and LG Chem Ltd., among others.
This report segments the Battery Management Systems market as follows:
Global Battery Management Systems Market: By Battery TypeSegment Analysis
- Lithium-Ion-Based
- Lead-Acid-Based
- Nickel-Based
- Flow Batteries
- Others
Global Battery Management Systems Market: By Topology TypeSegment Analysis
- Centralized
- Distributed
- Modular
Global Battery Management Systems Market: By ApplicationSegment Analysis
- Automotive
- Consumer Electronics
- Medical & Electronics
- Military & Defense
- Renewable Energy Systems
- Telecommunication
- Others
Battery Management Systems Market: By Regional Segment Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
About Us:
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
Contact Us:
Facts & Factors
A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1-347-989-3985
Email: [email protected]
Web: https://www.fnfresearch.com
