Battery Monitoring System Market Estimated to Experience a Hike in Growth by 2025

The rising global demand for electric vehicles, rising consumer demand for electronics, and increasing policy push for sustainable use of energy are expected to emerge as key drivers for growth in the battery energy storage market.

The market will grow at a robust 12.0% CAGR during 2018-2026, with its valuation rising from US$9 bn in 2017 to an all-time high with large investments by China and the US in sustainable energy.Recently released battery energy storage system market report by TMR, will focus on various technologies in the market including Lithium-ion batteries, Sodium sulphur batteries, Nickel cadmium batteries, flow batteries, sodium-ion batteries.

Among these, the lithium-ion batteries segment is likely to witness highest growth, thanks to its widespread use in electric vehicles, and smartphones.

The growth of 5G will also create significant opportunities in the battery energy storage system market with expected rise in sales of smartphones.Request a Sample – https://www.transparencymarketresearch.com/sample/sample.php?flag=S_id=27305The rise in adoption of sustainable energy globally is expected to remain a major growth driver during the forecast period.

Among regions, Asia Pacific, and North America will remain at the forefront of growth as both countries have supported key initiatives to support electric vehicle development infrastructure, and innovative products in the region continue to drive demand.Rise in Demand in Residential Sector to Boost GrowthThe UK is on a quest to install smart meters in homes countrywide.

As planned by the National trust, UK will witness an installation of 53 million new meters in 26 million homes.

The global Battery Energy Storage Systems Market is very fragmented due to the presence of a various sizable number of players which forms a competitive environment.

The report entails all-inclusive information related to the newest market updates like new ideas, market size, opportunity, growth path and trends for the forecast period of 2021-2027 to realize competitive edge across the world.

This report also highlights various important strategic mergers and acquisitions, company overview, financial details, and therefore the latest development undertaken.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.

The key players in the battery energy storage systems market include ABB, LG Chem, NEC (Japan), Panasonic, Samsung SDI.

An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Battery Energy Storage Systems Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/battery-energy-storage-systems-market/download-sampleMarket DynamicsFactors such as increasing demand for grid-connected solutions, high demand for the lithium-ion technology in the renewable energy industry, and declining prices of lithium-ion batteries are likely to boost the growth of battery energy storage system market.

Factors like high capital investment required for the deployment and lack of the availability of vendors and project financing is restraining the market growth.