"Actionable Insights to Fuel Your Growth"

Battery Monitoring System Market Size, Share and Global Trend By Component (Hardware, Software), By Type (Wired, Wireless), By Battery Type (Lithium-ion, Lead Acid, Others), By End-User (Telecommunication, Automotive, Energy, Industries, Others) and Regional Forecast, 2024-2032

Region : Global | Report ID: FBI101075 | Status : Ongoing

 

KEY MARKET INSIGHTS

A battery monitoring system is a mixture of hardware and software that guarantees optimum energy use within the battery. It works by avoiding expensive downtime owing to unexpected battery failures. The battery monitoring system's primary tasks include providing real-time tracking, preventing expensive downtime, maximizing battery life, decreasing maintenance and replacement costs, and improving the critical battery backup system's safety and security.

The increased use of renewable energy storage technologies increased adoption of electric vehicles (EVs), hybrid electric vehicles (HEVs) and PHEVs and grown incorporation of BMS into consumer electronics are anticipated to drive the development of the BMS industry during the forecast period. Market growth can be attributed to rising data center investments and global growth in renewable energy generation. It is anticipated that enhanced battery operating efficiency and heightened demand for electric vehicles will increase demand for battery monitoring devices.

To gain extensive insights into the market, Request for Customization


The battery monitoring system market is categorized by component, type, battery type, and end-user. The easy setup, quick data sampling, decreased cabling and high-resolution information recording capacities of parts involved such as sensors, hub, controller, data loggers, data recorders, and communication networks has resulted in the development of the battery monitoring system market's hardware segment.

The wireless segment is expected to develop at the highest pace as wireless devices allow remote operational monitoring as all activities can be controlled from a central place. Due to the increasing deployment of lithium-ion batteries in electric vehicles, power tools, and battery backup applications, the lithium-ion batteries are expected to hold the largest share. Owing to the increase in demand for electric vehicles, the automotive industry is expected to be the highest end-user.

An increase in demand for electric vehicles to decrease carbon footprint, the fast rise in automotive revenues, elevated demand from the battery replacement market and increased share of alternative energy sources in the energy mix are the main drivers of the development of the battery monitoring system market. Additionally, increasing the adoption of consumer electronics, prevention from unplanned outages, and increased operational efficiency of batteries has affected the market positively.

However, the high cost of battery monitoring systems for more extensive battery solutions is the major restraint for the market, along with the presence of a large number of local and regional players. Additionally, lithium-ion batteries lack recycling technology. The present techniques are not profitable and require subsidies to make them commercially viable.

Key Players Covered


Some of the major companies that are present in Battery Monitoring System market are Benchmark Electronics, NDSL Group Limited, Texas Instruments, Powershield, Batterydaq, Canara Inc., Eagle Eye Power Solutions, LLC, HBL Power Systems Ltd., BTECH Inc., Storage Battery Systems, LLC, Schneider Electric, ABB, Socomec Group, General Electric (GE) And Curtis Instruments, Inc.

SEGMENTATION






























SEGMENTATION


DETAILS


By Component


· Hardware

· Software


By Type


· Wired

· Wireless


By Battery Type


· Lithium-ion

· Lead Acid

· Others


By End-User


· Telecommunication

· Automotive

· Energy

· Industries

· Others


By Geography


· North America (the USA and Canada)

· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

· Latin America (Brazil, Mexico, and Rest of Latin America)

· Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)


 

Regional Analysis


The global battery monitoring system market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In North America, the Electric Vehicles Initiative (EVI) is a multi-government strategy to speed up electric vehicle adoption. Additionally, increasing investments in data centers and growing renewable power generation capacities in economies such as the US and Canada are the key markets for battery monitoring systems in the region. In Europe, governments have started offering subsidies related to electric vehicle manufacturing, which is expected to increase the demand for a battery monitoring system in EV batteries. Asia-Pacific is expected to the dominant player as the market for battery monitoring system is boosting due to the rising demand from various end-use industries, such as electric vehicles, energy storage, and portable consumer electronics. The demand is also triggered by the increasing number of telecom towers, raising awareness on clean energy generation, rising command for industrial storage, rising electrification drive in developing countries, increasing automobiles sales, falling solar energy costs, etc. The Latin America battery monitoring system market is expected to grow due to the expanding the automotive industry, in Brazil and Mexico due to NAFTA between the US- Mexico, which is expected to project electric vehicle sales. The market in the Middle East & Africa is expected to experience considerable growth in the coming years with increasing investments on smart, clean, and sustainable development projects.

Key Industry Developments




  • In Jul 2019, Benchmark Electronics, Inc., a global provider of manufacturing, engineering and design services, announced the appointment of Rhonda Turner as chief human resources officer (CHRO). Turner will lead all aspects of human resources.
  • In Apr 2019, Schneider Electric, the leader in the digital transformation of energy management and automation, today announced the appointment of Jaya Mahadevan as the Director - Distribution & IT Channel Business for Secure Power.
  • In Jan 2018, Maxim launched an advanced battery management system for developing a smarter car in the future. Automotive OEMs can enhance the safety of their lithium-ion battery packs with robust communications, comprehensive diagnostics, and lower system costs with the company’s MAX17843 12-channel, high-voltage smart sensor data-acquisition device.

  • Ongoing
  • 2023
  • 2019-2022

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $6850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Energy & Power Clients

Fujifilm
Ntt
Sumitomo
Itic
Nikon

Client Testimonials

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X