The basic task of a Battery Management System is to ensure good health of the battery
by optimally using the energy inside a battery and preventing it from any kind
of damage or misuse. It is a combination of hardware and software which will
ensure longer and healthy battery life. A study on Battery Management Systems Market is very crucial since the market for rechargeable battery is growing
at a high rate.
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The present trend of increasing demand for
rechargeable batteries is very encouraging for the Battery Management Systems
Market. The development
in the renewable energy storage segment is leading to an increase in the demand for rechargeable batteries which
will be impacting Battery Management Systems
Market significantly in coming years. Increasing popularity of rechargeable batteries is also
due to utilization of battery backup in various applications such as military,
healthcare and telecommunication. Anticipated growth in Power Grids and
Automotive industry is also a clear indicator that the Battery
Management Systems are strongly
penetrating the Global Market.
Market
Brief:
APAC is the largest market segment of the Battery Management Systems Market since
this region hosts the major automotive manufacturers with China being the
growing market in APAC due to the increasing use of hybrid and electric
vehicles. Americas and Europe follow APAC in the list. Since the growth
rate of Automotive (major sales from APAC), Telecom and Power Grid is
anticipated to be high, the market revenue from the respective End-User
Industry is seen to be greater than the others. The leaders in the
electric car sales are Japan and China. Battery
Management System is the most important component of a hybrid or electric
vehicle. Today these vehicles are popular since they reduce gasoline
consumptions up to 75%.
REPORT
SCOPE:
Market
Segmentation:
The Battery
Management Systems Market is divided into 5 types based on the following
factors:
- By Component: Power Module, Battery and Others.
- By Applications: Energy Harvesting and Nano Power Solutions, Electric Bicycle Solutions and Others.
- By End User Industry: Automotive, Telecom, Wind and Others.
- By Topology: Distributed, Modular and Centralized.
- By Geography: Americas, Europe, APAC and ROW.
Key
Players of Battery Management Systems Market:
- Larsen & Toubro Limited
- Linear Technology Corporation
- Valence Technology, Inc.
- Ashwoods Energy Limited
- Elithion, Inc.
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