[197+ Pages Report] Facts & Facts has recently published the latest report titled “Global Battery Management Systems Market” that encompasses the spectacle of the market in an analytical and comprehensive manner. In this study, the global battery management systems market is expected to value USD 13.4 Billion in the year 2026 from an initial value of USD 5.7 Billion in the year 2020 with growth at a CAGR value of 12.7% during 2021-2026.
New York, NY, Oct. 18, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research 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” in its research database
“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.”
Global Battery Management Systems Market: Overview
Battery management systems or BMS is a form of the electronic system that has the ability to manage rechargeable batteries (cell or battery pack) in a variety of functions such as protecting the battery from operating outside its safe operating area, monitoring its area, calculating a set of secondary data, controlling its environment data, and authenticating and balancing the latter, to name a few. Battery packs that are built together with a BMS are often integrated with a communication data bus which can often transform into a smart battery pack.
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.
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Industry Major Market Players
Storage Battery System
Linear Technology Corporation
NXP Semiconductors NV
Renesas Electronics Corporation
Analog Devices Inc.
LG Chem Ltd.
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Key questions answered in this report:
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Global Battery Management Systems Market: Growth Factors
The global battery management systems market is predicted to experience a higher growth rate during the intended forecast period owing to a series of factors such as increasing adoption of electric and hybrid vehicles coupled with an increasing number of stringent policies aimed at implementing greenhouse gas emissions to name a few. Additionally, factors pertaining to higher energy densities, less mass, and longer life than their counterparts are expected to increase the footprint of the global battery management systems during the forecast period. Moreover, the rising functionality of BMS to monitor individual cells coupled with protecting cells from functioning outside their tolerance range is expected to increase the footprint of the global battery management systems during the forecast period.
The global battery management systems market is expected to be driven by increasing incentives for manufacturing HEVs coupled with increasing investments from the public and private sector to name a few. However, high costs and a lack of a skilled workforce are expected to decrease the growth of the global battery management systems market during the forecast period.
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Global Battery Management Systems Market: Report Scope
Market Size 2020 Value
USD 5.7 Billion
Market Forecast for 2026
USD 13.4 Billion
Expected CAGR Growth
CAGR 12.7% from 2021-2026
Top Market Players
Leclanche, Lithium Balance, Nuvation Engineering, Eberspaecher Vecture, Storage Battery System, and Others
Battery Type, Topology Type, Applications, and Region
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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Global Battery Management Systems Market: Segmentation
The global battery management systems market is segmented into battery type, topology type, application, and region.
The global battery management systems market is divided into lithium-ion-based, lead-acid-based, nickel-based, flow batteries, and others on the basis of battery type. The segment pertaining to lead-acid-based batteries is expected to witness the largest market share during the advent of the forecast owing to cost-effective measures of lead-acid-based batteries when compared to rechargeable batteries and the increasing preference for application due to the latter’s higher power absorption capabilities. The global battery management systems market is categorized into centralized, distributed, and modular on the basis of topology type. The segment pertaining to distributed BMS is expected to occupy the largest market share during the advent of the forecast owing to increased capacity and production of electricity from renewable energy resources coupled with easy installation measures and highly reliable solutions to name a few. The global battery management systems market is fragmented into automotive, consumer electronics, medical & electronics, military & defense, renewable energy systems, telecommunication, and others on the basis of application. The automotive category is expected to witness the largest market share during the advent of the forecast owing to the rising number of vehicles requiring rechargeable batteries including EVs, hybrid electric vehicles (HEVs), and plug-in hybrid vehicles (PHEVs) coupled with reliable and safer battery operational processes to name a few.
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Global Battery Management Systems Market: Regional Analysis
North America is expected to witness the largest market share during the advent of the forecast owing to the rising penetration of EVs coupled with favorable government policies to name a few. Additionally, the implementation of several supportive government monetary policies for developing HEVs coupled with rising automotive sales is expected to increase the footprint of the battery management systems market during the forecast period. Europe is expected to occupy a substantial market share after the latter due to the rising number of automotive manufacturers, rising number of government initiatives, and the region’s emphasis to phase out internal combustion cars to name a few.
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
Global Battery Management Systems Market: By Battery Type Segment Analysis
Global Battery Management Systems Market: By Topology Type Segment Analysis
Global Battery Management Systems Market: By Application Segment Analysis
Medical & Electronics
Military & Defense
Renewable Energy Systems
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