Battery Management System Market size is expected to reach ~USD 14 billion by 2028 | Brandessence Market Research

News provided by

Brandessence Market Research and Consulting Private Limited

Apr 05, 2023, 10:05 ET

LONDON, April 5, 2023 /PRNewswire/ -- The Global Battery Management System Market is anticipated to amass a valuation of ~USD 14 billion by 2028, registering a CAGR of +14% over the forecast duration of 2022-2029.

A battery management system, known as a BMS, is an intricate electronic system crafted to oversee and regulate the performance of rechargeable batteries. Its predominant use is found in electric vehicles, renewable energy systems, and other applications that involve the utilization of rechargeable batteries. The principal purpose of a BMS is to ensure that the battery operates in a safe and efficient manner by scrutinizing its state of charge, state of health, and various other parameters such as voltage, current, and temperature. The BMS bears the responsibility of preserving the battery from destructive conditions that could reduce its lifespan or even cause it to malfunction, such as over-discharging or overcharging.

Get Sample of Report@ https://www.aimarketreport.com/downloadSample/PostId/646  

Global Battery Management System Market Outlook (2022-2029)

The escalating demand for proper battery monitoring in the renewable energy sector and influx of emerging technologies into these systems are primarily aiding the expansion of this business sphere.

Moreover, increasing adoption of electric vehicles, stringent emission regulations across numerous nations, and the rising disposable income levels of the masses are creating lucrative opportunities for this marketplace to prosper.

Alongside, rising government investments in the renewable energy sector and the booming consumer electronics sector are adding momentum to the development of this industry vertical.

On the contrary, fluctuating performance of these systems which is influenced by numerous external factors is hindering the remuneration scope of this market.     

Competitive Hierarchy

The prominent players defining the competitive terrain of the Global Battery Management System Market are Texas Instruments, NXP Semiconductors, Renesas Electronics, Analog Devices Inc., Johnson Matthey PLC, Lithium Balance A/S, Nuvation Engineering, LLC, Eberspaecher Vecture Inc., Navitas Systems LLC, AVL List GmbH, and Valence Technology, Inc.

Segmental Outlook

By Type

  • Lithium-Ion Based Batteries
  • Advanced Lead-Acid Batteries
  • Nickel-Based Batteries
  • Flow Batteries

By Topology

  • Centralized
  • Modular
  • Distributed

By Application

  • Automotive
  • Military & Defense
  • Medical
  • Portable Device
  • others

Get Methodology @ https://www.aimarketreport.com/requestMethodology/PostId/646  

Region-Wise Outlook

Which is the leading region in the Global Battery Management System Market?

Asia Pacific is reckoned to gain significant returns over the assessment timeframe of 2022-2029. This is due to the  booming consumer electronics industry, technological advancements in this sector, along with rising R&D investments in the field.

Category-Wise Outlook

Which is the most dominant type segment in this business sphere?

The lithium-ion based batteries segment is slated to dominate the industry in terms of volume share since these batteries have a higher energy density, longer cycle life, and faster charging times compared to other types of batteries, making them ideal for use in various applications.

Which is the top performing topology segment in this industry?

The modular topology segment is witnessing the fastest growth over the stipulated timeline. This is attributable to the increasing adoption of electric vehicles and renewable energy systems has led to the development of larger and more complex battery packs, which require a more flexible and scalable approach to battery management.

Which is the rapidly evolving application segment in this marketplace?

The automotive segment is one of the rapidly evolving application segments in this industry. This is credited to the escalating demand for EVs and stringent emission regulations worldwide.

Comparing the historical outlook and ongoing trends of this market

The Global Battery Management System Market is expected to garner significant returns over the assessment timeframe of 2022-2029.

There has been a growing adoption of electric vehicles across the globe. Stringent emission regulations, rising environmental cognizance among the masses, and increasing disposable income levels are the major factors contributing to the elevating demand for EVs worldwide. Battery management systems are an integral part of EVs since they ensure that the electric battery integrated in the vehicle is with safe operating parameters. These systems regulate the temperature while monitoring the state of health of the battery, collecting required data, and controlling external environmental factors which might affect battery performance. This in turn is stimulating the overall dynamics of this market sphere.

he widespread use of portable electronic devices such as smartphones, tablets, and laptops has also contributed to the growth of the battery management system market. BMS helps optimize the battery life of these devices, allowing them to run longer on a single charge. As the demand for more powerful and efficient portable devices grows, the need for advanced battery management systems will also increase.

Battery management systems are also used in renewable energy storage systems such as solar panels and wind turbines. These systems help store the excess energy generated during peak hours and release it during off-peak hours when the demand is higher. As more people turn to renewable energy sources, the demand for battery management systems is likely to increase.

On Special Requirement Battery Management System Market Report is also available for below region:

North America
  • U.S, Canada
Europe
  • Germany, France, U.K., Italy, Spain, Sweden, Netherlands, Turkey, Switzerland, Belgium, Rest of Europe
Asia-Pacific
  • South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
Latin America
  • Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
  • Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

Purchase Copy of Report @ https://www.aimarketreport.com/Checkout?report_id=646

Major Developments

In 2021, Battery Resourcers, a battery recycling and manufacturing startup, acquired Easymile's battery management system technology. The acquisition allows Battery Resourcers to enhance its battery recycling capabilities and develop more sustainable battery solutions.

Related Reports:

Brandessence Market Research & Consulting Pvt ltd. 

Brandessence Market Research publishes market research reports & business insights produced by highly qualified and experienced industry analysts. Our research reports are available in a wide range of industry verticals including aviation, food & beverage, healthcare, ICT, Construction, Chemicals and lot more. Brand Essence Market Research report will be best fit for senior executives, business development managers, marketing managers, consultants, CEOs, CIOs, COOs, and Directors, governments, agencies, organizations and Ph.D. Students. We have a delivery center in Pune, India and our sales office is in London. 

Follow Us: Linkedin  

M & A Advisory: Merger & Acquisition, and Capabilities

Blog:

What is Market Research?
What is Market Sizing? How to Measure Your TAM, SAM, and SOM

Top 10 Frozen Potato Companies in 2023

Top 5 Natural Food Colors Companies in Global Market 2023 | Here's Everything need to know About

Everything You Need to Know About The Top 5 Companies Operating in Global mRNA Vaccines and Therapeutics Market

The Rise of DIY Medicine: Exploring the Home Diagnostics Market

Top Activated Carbon Manufacturers in the Global Market 2023

Top 5 Skateboard Companies in Global Market 2023

Top 10 Healthcare Staffing Companies in Global Market 2023

TOP 5 Distributed Antenna System (DAS) COMPANIES 2023

Top 10 Plant-based Meat Companies : growing sustainable, plant-based food industry

What Are MQLs

B2B Lead Generation with PPC

B2B Lead Generation Services Provider

B2B Lead Generation Agency

Importance of B2B Lead Generation

Contact: 
Mr. Vishal Sawant  
Email: [email protected]  
Email: [email protected]  
Corporate Sales: +44-2038074155  
Asia Office: +917447409162 

Logo: https://mma.prnewswire.com/media/1392316/BEMR_Logo.jpg

SOURCE Brandessence Market Research and Consulting Private Limited

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

icon3
440k+
Newsrooms &
Influencers
icon1
9k+
Digital Media
Outlets
icon2
270k+
Journalists
Opted In
GET STARTED