A rechargeable battery is managed by a battery management system (BMS), an electronic device that keeps track of a battery's condition, regulates its surroundings, balances it, calculates secondary data, shields the battery from the elements, and reports that data.
According to MRFR analysis, the global Battery Management System Market is expected to register a CAGR of ~22.2% from 2023 to 2030 and hold a value of over USD 45.70 billion by 2030.
A BMS may also keep an eye on the temperature, depth of discharge, voltage, and status of charge of the battery.
The primary driver of the growth of the worldwide battery management system (BMS) market value is the increase in the deployment of BMSs in electric vehicles (EVs) and the growing need for battery management in renewable energy systems.
Key Players
· Leclanche
· Nuvation
· Eberspächer
· Texas Instruments Inc
· Toshiba Corporation
· Robert Bosch GmbH
· Panasonic Corporation
· Midtronics Inc. (US)
· ST Microelectronics
· Deutz AG,
Regional Analysis
The European Union has seen a substantial increase in the sales of electric cars. As a result, the region's automotive sector is predicted to increase significantly in the future years. The expansion of Europe's automotive sector is expected to promote the expansion of the region's battery management system market.
The Asia Pacific area is concentrating on expanding its fleet of electric vehicles. Due to the rising concern about CO2 emissions. Additionally, recent reports indicate that the region's telecom sector has experienced respectable development. The battery management system market is anticipated to expand strongly in the area due to the expansion of the electric car and telecom industries.
Market Segmentation
The Global BMS for electric vehicles Size has been segmented into Battery Type, Component, Topology, and Application
Based on the Battery Type, the market has been segmented into Lithium-Ion Based Batteries, Advanced Lead-Acid Batteries, Nickel-Based Batteries, and Flow Batteries.
Based on the Component, the market has been segmented into Hardware and Software.
Based on the Topology, the market has been segmented into Centralized, Modular, and Distributed.
Based on the Application, the market has been segmented into Automotive, Military & Defense, Medical, Portable Devices, Telecommunication, Renewable Energy Systems, Uninterrupted Power Supply, and others.
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