New York City, 15 January 2019: Global Battery Management System (BMS) Market is anticipated to reach USD 14,422 million
by 2026. In 2017, the lead-acid batteries dominated the global market, in terms
of revenue. North America is expected to be the leading contributor to the
global market revenue during the forecast period.
The rising demand of BMS
from the automotive sector primarily drives the growth of this market. These
systems are increasingly being adopted across various industries such as
aerospace and defense, healthcare, and electronics among others. The increasing
adoption of BMS in data centers, and renewable energy systems further supports
the growth of this market.
The demand for electric
vehicles has increased significantly over the years owing to increasing prices
of gasoline prices across the globe, which leads to increased adoption of
battery management systems. The exponential growth in the prices of gasoline
and diesel owing to the depleting fossil fuel reserves has encouraged consumers
to switch to battery based electric vehicles. Limited availability of public
electric vehicle charging infrastructure for electric vehicles had restricted
the adoption of these vehicles to a certain extent in the past. However, with
significant government initiatives and substantial investments, the development
of public charging infrastructure has accelerated significantly. Technological
advancements in components such as lithium-ion batteries, which are majorly
used in electric vehicles, along with decreasing prices of the same is expected
to further increase the demand of battery based electric vehicles in the
market.
North America generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The increasing demand for alternative fuel vehicles, especially the electric-vehicles is expected to drive the growth of battery management systems in this region. The growing use of BMS in renewable energy storage systems also accelerates the adoption. Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to increasing demand for BMS from countries such as China, Japan, and India. The presence of large number of automotive manufacturers and portable device suppliers also augments the growth of this market in the region.
North America generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The increasing demand for alternative fuel vehicles, especially the electric-vehicles is expected to drive the growth of battery management systems in this region. The growing use of BMS in renewable energy storage systems also accelerates the adoption. Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to increasing demand for BMS from countries such as China, Japan, and India. The presence of large number of automotive manufacturers and portable device suppliers also augments the growth of this market in the region.
The different types of
topologies included in the report include centralized, distributed, and
modular. In 2017, centralized topology accounted for the highest market share.
However, during the forecast period distributed and modular topologies are
expected to represent strong growth.
Modular topology offer
high computational power, and enhanced safety. Modular topology is also
increasingly being used for various applications such as drones, electric
vehicles, and energy storage systems among others.
The various end-users of
battery management systems include medical, automotive, telecommunication,
consumer electronics, military, and others. In 2017, consumer electronics
accounted for the largest share in the global market, and are estimated to grow
at a substantial rate during the forecast period. The automotive segment is
expected to grow at the highest CAGR during the forecast period owing to
increasing applications, stringent government regulations regarding vehicular
emissions, increasing acceptance of electric vehicles.
The well-known companies
profiled in the report include Texas Instruments Inc., Johnson Matthey PLC.,
Linear Technology Corporation, vecture Inc., Elithion Inc., NXP Semiconductors,
Intersil Corporation, Nuvation Engineering, Ventec SAS, Generex Systems, and
Lithium Balance A/S among others. These companies launch new products and
collaborate with other market leaders to innovate and launch new products to
meet the increasing needs and requirements of consumers.
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