Press release
Battery Management System Market Size and Key Trends
As part of Industry 4.0 or the Fourth Industrial Revolution, the battery powered apps and cloud-based software and services are amongst the most popular buzzwords. Battery management systems that are cloud-based are becoming increasingly popular across a variety of industries, such as consumer electronics, telecom, and automotive. Increased adoption of electric cars, as well as growing emphasis on improving battery energy efficiency, are likely to boost demand for battery management systems. These developments are likely to foster growth of the global battery management system market in the years to come.
𝐆𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬- https://www.transparencymarketresearch.com/battery-management-system-market.html
Renesas Electronics Corporation, Vishay Intertechnology, Inc., Schneider Electric SE, NXP Semiconductors, Analog Devices, Inc., and Infineon Technologies AG are some of the companies in the global battery management system market.
In 2018, the global battery management systems market was estimated at US$ 3.5 Bn, and it is expected to expand rapidly to reach US$ 16.6 Bn through 2027. The market is expected to grow at a rate of 18.5% CAGR during the forecast period, from 2019 to 2027. In the next few years, technological improvements in battery management systems will continue to support growth in this sector.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐀 𝐒𝐚𝐦𝐩𝐥𝐞- https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=12116
High Demand for Electric Vehicles in China to Drive Growth of the Market in the Asia Pacific
In terms of region, the global battery management system market is classified into the principal regions of Latin America, Middle East and Africa, Asia Pacific, Europe, and North America. It is anticipated that regional classifications would provide a better knowledge of the market dynamics at play at the regional level.
It is expected that Asia-Pacific would have the rapid growth rate throughout the forecast period, from 2019 to 2027. Due to the rapid expansion of the electric vehicle market in China, the Asia-Pacific region is projected to see substantial growth. Because BMS are increasingly being integrated into consumer electronics for safety purposes, the need for BMS is expected to increase in tandem with the growing demand for consumer electronics. China is one of the leading markets for electric vehicles across the globe. The aforementioned reasons may be regarded as the primary driving forces for the global battery management systems market in the Asia Pacific region.
𝐀𝐬𝐤 𝐅𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧- https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=12116
Lithium-ion Batteries to Outperform its Counterparts and Gain Rapid Traction in the Market
Lithium-ion batteries, amongst the numerous different types of batteries that are there in the battery management systems, have a significant market share. Their sales are also expected to rise significantly and rapidly in comparison to their counterparts, such as nickel-based and lead-acid batteries. Because of its low weight and high charge density, lithium-ion batteries have demonstrated to be the battery of choice for manufacturers of electric vehicle. This is likely to continue to draw attention of the manufacturers to the category of lithium-ion battery.
The renewable energy sector is undertaking considerable research and development activities to address technological problems as the usage of lithium-ion batteries grows in multiple industries. The availability of battery packs in a variety of kinds and at affordable costs has removed one of the major obstacles to renewable energy technology: the need for battery storage to control changes in wind or solar radiation. As a result, stakeholders are likely to expand their research and development capabilities to broaden their offerings on renewable energy solutions. These factors are likely to work in favor of the global battery management system market over the forecast period, from 2019 to 2027.
In addition, the public transportation industry is witnessing massive change in technology. Hybrid as well as electric vehicles are becoming more popular as a result of increased air pollution from internal combustion engine automobiles and the non-renewability of oil-based fuels. Two pioneering electro-mobility businesses and Europe's top manufacturer of battery system, BMZ Germany, signed a 200 Mn euro deal to provide over 1,000 lithium-ion battery systems to Berlin-based bus builder Eurabus GmbH. Such developments are likely to trigger expansion of the global battery management system market in the years to come.
𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=12116
The information shared in this review is based on a TMR report, bearing the title, "Battery Management System Market (Battery - Lithium-ion-based, Lead-acid-based, Nickel-based, and Flow Batteries; Topology - Centralized, Distributed, and Modular; Application - Automotive, Consumer Electronics, Medical & Healthcare, Military & Defense, Renewable Energy Systems, and Telecommunications) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027"
𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
For More Research Insights on Leading Industries, Visit our YouTube channel -
https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
𝐆𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬- https://www.transparencymarketresearch.com/battery-management-system-market.html
Renesas Electronics Corporation, Vishay Intertechnology, Inc., Schneider Electric SE, NXP Semiconductors, Analog Devices, Inc., and Infineon Technologies AG are some of the companies in the global battery management system market.
In 2018, the global battery management systems market was estimated at US$ 3.5 Bn, and it is expected to expand rapidly to reach US$ 16.6 Bn through 2027. The market is expected to grow at a rate of 18.5% CAGR during the forecast period, from 2019 to 2027. In the next few years, technological improvements in battery management systems will continue to support growth in this sector.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐀 𝐒𝐚𝐦𝐩𝐥𝐞- https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=12116
High Demand for Electric Vehicles in China to Drive Growth of the Market in the Asia Pacific
In terms of region, the global battery management system market is classified into the principal regions of Latin America, Middle East and Africa, Asia Pacific, Europe, and North America. It is anticipated that regional classifications would provide a better knowledge of the market dynamics at play at the regional level.
It is expected that Asia-Pacific would have the rapid growth rate throughout the forecast period, from 2019 to 2027. Due to the rapid expansion of the electric vehicle market in China, the Asia-Pacific region is projected to see substantial growth. Because BMS are increasingly being integrated into consumer electronics for safety purposes, the need for BMS is expected to increase in tandem with the growing demand for consumer electronics. China is one of the leading markets for electric vehicles across the globe. The aforementioned reasons may be regarded as the primary driving forces for the global battery management systems market in the Asia Pacific region.
𝐀𝐬𝐤 𝐅𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧- https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=12116
Lithium-ion Batteries to Outperform its Counterparts and Gain Rapid Traction in the Market
Lithium-ion batteries, amongst the numerous different types of batteries that are there in the battery management systems, have a significant market share. Their sales are also expected to rise significantly and rapidly in comparison to their counterparts, such as nickel-based and lead-acid batteries. Because of its low weight and high charge density, lithium-ion batteries have demonstrated to be the battery of choice for manufacturers of electric vehicle. This is likely to continue to draw attention of the manufacturers to the category of lithium-ion battery.
The renewable energy sector is undertaking considerable research and development activities to address technological problems as the usage of lithium-ion batteries grows in multiple industries. The availability of battery packs in a variety of kinds and at affordable costs has removed one of the major obstacles to renewable energy technology: the need for battery storage to control changes in wind or solar radiation. As a result, stakeholders are likely to expand their research and development capabilities to broaden their offerings on renewable energy solutions. These factors are likely to work in favor of the global battery management system market over the forecast period, from 2019 to 2027.
In addition, the public transportation industry is witnessing massive change in technology. Hybrid as well as electric vehicles are becoming more popular as a result of increased air pollution from internal combustion engine automobiles and the non-renewability of oil-based fuels. Two pioneering electro-mobility businesses and Europe's top manufacturer of battery system, BMZ Germany, signed a 200 Mn euro deal to provide over 1,000 lithium-ion battery systems to Berlin-based bus builder Eurabus GmbH. Such developments are likely to trigger expansion of the global battery management system market in the years to come.
𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=12116
The information shared in this review is based on a TMR report, bearing the title, "Battery Management System Market (Battery - Lithium-ion-based, Lead-acid-based, Nickel-based, and Flow Batteries; Topology - Centralized, Distributed, and Modular; Application - Automotive, Consumer Electronics, Medical & Healthcare, Military & Defense, Renewable Energy Systems, and Telecommunications) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027"
𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
For More Research Insights on Leading Industries, Visit our YouTube channel -
https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
