BMS or battery management system is an electronic architecture that safeguards the battery cells from damage, through monitoring its key parameters during the charging and liquidating phase such as voltage and current, temperature, battery load and generates communication with the charges through notification. The BMS not only facilitated the protection of battery but also ensures its long life, through a controlled charging regime and planned maintenance.
According to MarkNtel Advisors’ research report “Global Battery Management System Market Analysis, 2020”, the global market is anticipated to grow at a CAGR of around 18.5% during 2020-25 due to increasing demand for outage detection and monitoring from the transmission and distribution system. The power and energy grid monitoring is undergoing the automation phase.
Due to the rising demand for power supply in conjunction with rapid urbanization and industrialization in the emerging economies, the power loss during the transmission and distribution of electricity had also increased. Thus, the application of BMS in the power generation, termination and distribution sector has been increasing in order to control the voltage, temperature, and supply breakdown at the transformers, power supply lines.
Moreover, the rising transformation of the fuel-based conventional mode of transportation to the electronic automotive is another major driving force for the battery management system market. Growing adoption of electric, hybrid electric and poly-hybrid electric vehicles across developed and the emerging economies under various government's missions such as India’s Electric Mobility Mission 2030, have been growing the market for EV Batteries across the globe.
Lithium-ion Battery to Mark the Highest CAGR Growth
In 2019, based on the type of battery, the lead-acid category dominated the market owing to its low cost and high availability. However, lithium-ion battery has been anticipated to attain the highest market share and CAGR growth, as revealed in MarkNtel Advisors’ research report “Global Battery Management System Market Analysis, 2020”. The inefficiency of lead-acid batteries in terms of their environmental impacts, mileage and charging duration over the lithium-ion batteries has been resulting in the high adoption of lithium-ion batteries among electric vehicle segment. Moreover, the snowballing adoption of power tools by residential, commercial and industrial sectors such as cameras, computing devices, UPS systems is catalyzing to the growth of the product.
Complete discharging as well as overcharging of lithium-ion battery reduces the life cycle of the battery. Thus, in order to ensure, the prolonged life of the battery cells, the battery manufacturers across different sectors have started incorporating the battery management system in their product. According to MarkNtel Advisors’, the North America region contributed to the majority share in the overall Battery Management System market in 2019. During 2020-25, the Asia-Pacific region has been anticipated to attain the highest growth rate to grab the majority market share, owing to the rising industrialization in countries such as India, China.
During 2020-25, the Asia-Pacific region is anticipated to achieve the highest CAGR, on account of developing infrastructure, increasing government emphasis on renewable power generation, increasing private investments in the power and utility sectors, expanding transmission lines are some of the key factors, offering expansion opportunities for the operators in the battery management system market.
According to MarkNtel Advisors’, the leading market players in the global battery management system market include, Elithion Inc., Linear Technologies, Johnson Matthey, Ventec SAS, Venture Inc., NXP Semiconductor, Nuvation Engineering, etc. The competitors in the battery management system market are investing on the R&D process to enhance their product offering along with the introduction of innovative products in the market.
The technological enhancement in the IT sector is persuading the competitors to come up with some innovative ideas to increase the overall value of the product and offer convenience to the customer at the same time. For instance, Bosch in 2019 rolled out its plan to launch a cloud-connected battery management software service, that would be monitoring and managing the battery life of the electric vehicles.
“Global Battery Management System Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for battery management system providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
1. By Battery Type (Lithium-Ion Battery, Lead-Acid Battery, Nickel Battery, Flow Battery, and Others)
2. By Topology (Centralized, Distributed, and Modular)
3. By Components (Hardware, and Software)
4. By Application (Automotive, Military & Defense, Consumer Electronics, Medical & Healthcare, UPS, Telecommunication, Renewable Energy Systems, and Others)
5. By Region (North America, South America, Europe, Middle East, and Africa, Asia- Pacific)
6. By Country (US, Canada, Mexico, Brazil, Argentina, Colombia, Germany, Italy, UK, France, Russia, Spain, Saudi-Arabia, UAE, South Africa, China, Japan, India, South Korea, Malaysia, and Australia)
7. By Company (Elithion Inc., Linear Technologies, Johnson Matthey, Ventec SAS, Venture Inc., NXP Semiconductor, Nuvation Engineering, and Others)
Key questions answered in the study:
1. What are the current and future trends of the global battery management system market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global battery management system industry?
5. What are the customer orientation, purchase behavior, and expectations from the global battery management system across various regions?