Battery Monitoring System Market Growth : Global Industry Analysis and Opportunity Assessment 2020-2028

Battery Monitoring System Market
Battery Monitoring System Market

A new research report has been added by Emergen Research that offers a comprehensive analysis of the Global Battery Monitoring System Market that offers beneficial information to the users to offer an overview of the Battery Monitoring System market.

The global battery monitoring system market size is expected to reach USD 13.40 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research.

The automotive sector is increasingly utilizing battery monitoring systems in electric vehicles being developed and produced to minimize maintenance and replacement costs, maximize lifespan of batteries, and avoid costly downtime. Steady market revenue growth can be attributed to key factors such as rising demand for eco-friendly electric vehicles, increasing awareness regarding the effects of pollution and global warming, and shifting preference among consumers towards electric and hybrid electric vehicles. Electric vehicles and hybrid electric vehicles utilize battery monitoring systems to address system parameters such as voltage, current, and temperature.

Automotive segment accounted for a relatively larger revenue share in the global battery monitoring system market in 2020. Rising demand for electric vehicles is expected to increase utilization of battery monitoring systems in vehicles.

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The Global Battery Monitoring System Market report offers a detailed analysis of the global Battery Monitoring System market size, regional and country-level analysis of the market, segment growth, competitive landscape, sales analysis, industrial chain analysis, opportunities, recent developments, regulatory framework, market growth analysis, and strategic market initiatives.

Key players in the market include Benchmark Electronics Inc., NDSL, Texas Instruments Incorporated, PowerShield, BatteryDAQ, Eagle Eye Power Solutions, LLC, HBL Power Systems Ltd., Schneider Electric, ABB, and General Electric.

Modulation Apex From the Report

  • Texas Instruments Incorporated unveiled its wireless battery management system for electric vehicles, which combines with ASIL-D requirements, thereby reducing design complexity and cost.
  • Wired segment accounted for largest revenue share in 2020. The cost-effectiveness of wired battery monitoring systems in comparison to wireless battery monitoring systems is a key factor contributing to increasing demand and utilization.
  • Hardware segment revenue is expected to expand at a rapid CAGR during the forecast period. The easy to use and easy to set up advantages offered by the hardware components are expected to increase demand across automotive and telecommunications sectors.
  • Lithium-Ion based segment accounted for a significantly high revenue share in the battery monitoring system market in 2020. Increasing deployment of lithium-ion batteries in electric vehicles owing to lightweight and high-energy density solutions is expected to boost growth in demand from the automotive sector.

Sectoral Perusal: Battery Monitoring System Industry By Emergen Research

The report provides an extensive regional analysis of the Battery Monitoring System market. The segmentation offers insights into the sales network and distribution channels, sales analysis, profit margins, volume chain analysis, and region-wise Battery Monitoring System market size. The report also covers an in-depth analysis of the key geographical regions as well as their countries.

North America accounted for largest revenue share contribution to the global battery monitoring system market in 2020. Presence of major players in the region such as Benchmark Electronics, Inc., NDSL, Texas Instruments Incorporated, BatteryDAQ, Eagle Eye Power Solutions, LLC, and General Electric is expected to boost growth of the battery monitoring system market in the region during the forecast period.

Battery Monitoring System Market share data is also available on a global and regional level. Key regions covered in the report like North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Research analysts formulate the report based on a comprehensive analysis of the competitive strengths of each player and an overall competitive landscape.

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Emergen Research has segmented the global battery monitoring system market on the basis of type, component, battery type, end-use, and region:

  • Type Outlook (Revenue, USD Billion; 2018–2028)
    • Wired
    • Wireless
  • Component Outlook (Revenue, USD Billion; 2018–2028)
    • Software
    • Hardware
  • Battery Type Outlook (Revenue, USD Billion; 2018–2028)
    • Lead-Acid
    • Lithium-Ion Based
    • Others
  • End-use Outlook (Revenue, USD Billion; 2018–2028)
    • Automotive
    • Telecommunication
    • Industries
    • Energy
    • Others

These strategic initiatives include mergers and acquisitions, product launches, brand promotions, collaborations, joint ventures, partnerships and agreements, and government deals, among others. The report offers sales, revenue, and market share for each key player in the report for the forecast timeline of 2020-2028.

Table of content:

Chapter 1. Methodology & Sources
    1.1. Market Definition
    1.2. Research Scope  
    1.3. Methodology
    1.4. Research Sources
          1.4.1. Primary
          1.4.2. Secondary
          1.4.3. Paid Sources
    1.5. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. Battery Monitoring System Market Segmentation & Impact Analysis
    4.1. Battery Monitoring System Market Material Segmentation Analysis
    4.2. Industrial Outlook
          4.2.1. Market indicators analysis
          4.2.2. Market drivers analysis
                    4.2.2.1. Increasing demand for Electric Vehicles
                    4.2.2.2. Rising need to enhance operational efficiency of batteries
                    4.2.2.3. Increasing usage of renewable sources of energy
          4.2.3. Market restraints analysis 
                    4.2.3.1. Present challenging conditions due to the pandemic
                    4.2.3.2. High cost of battery monitoring system 
    4.3. Technological Insights 
    4.4. Regulatory Framework
    4.5. Porter’s Five Forces Analysis
    4.6. Competitive Metric Space Analysis
    4.7. Price trend Analysis
    4.8. Covid-19 Impact Analysis

Chapter 5. Battery Monitoring System Market By Type Insights & Trends, Revenue (USD Billion)
    5.1. Type Dynamics & Market Share, 2021 & 2028
          5.1.1. Wired
          5.1.2. Wireless 

Chapter 10. Competitive Landscape
    10.1. Market Revenue Share By Manufacturers
    10.2. Mergers & Acquisitions
    10.3. Competitor’s Positioning
    10.4. Strategy Benchmarking
    10.5. Vendor Landscape
          10.5.1. Raw Material Suppliers 
                    10.5.1.1. North America
                    10.5.1.2. Europe
                    10.5.1.3. Asia Pacific 
                    10.5.1.4. Middle East & Africa
                    10.5.1.5. Latin America

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