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Battery Management System Market 2021: Business Trends, COVID - 19 Outbreak, Emerging Technologies, Growth Opportunities and Regional Forecast to 2027

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Battery Management System Market 2021: Business Trends, COVID - 19 Outbreak, Emerging Technologies, Growth Opportunities and Regional Forecast to 2027

Battery Management System Market, By Type (Lead Acid-Based, Lithium-Ion Based, Nickel Based and others), By Application (Telecommunication, Industrial, Consumer Electronics, Automotive and others), By Topology (Centralised, Modular and Distributed), and By Geography (Europe, North America, Asia Pacific, Latin America, and Middle East and Africa) Analysis, Size, Share Trends, & Forecast from 2021-2027.

Battery Management can be described as the brain behind optimum usage and long battery life. It is an electronic system that controls and monitors the performance of batteries by voltage and power output by providing signals to battery packs via integrated circuits. Apart from this, its primary function is to protect battery packs from overcharging, heating, voltage difference, etc. For instance, the lithium-ion battery can also be damaged if discharged below certain limits.

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According to AnalystView Market Insights the global Battery Management System (BMS) market is expected to deliver a CAGR of 20.2% to rise from $5.18 billion in 2020 to $ 19.9 billion in 2027. The ever-increasing demand for electric vehicles (EV) and supporting government policies are major factors powering BMS markets.

The growing need for BMS in the vehicle industry is largely driving the market's expansion. These technologies are rapidly being used in a variety of industries, including aerospace and military, medicine, and semiconductors. The growing use of BMS in computer servers, as well as renewable power systems, contributes to the currency's expansion.

The COVID-19 pandemic compelled governments throughout the world to take a variety of actions, including temporarily banning foreign trade, partly closing production facilities, decreasing the staff, and closing towns. The industry saw sales declines as a result of the aforementioned reasons. Additionally, because most businesses were closed throughout the lockdown timeframe, the company's distribution system and that of associated electronic hardware makers were affected, leading firms to scale back or stop manufacturing activity.

The study includes three types of topologies: distributed, centralized,  and modular. In 2020, centralized topology has the most market position. Nevertheless, modular distributed and topologies are likely to expand rapidly throughout the projection period.

Modular structure provides greater computing power as well as increased safety. Modular topology is rapidly being employed in a variety of sectors, including drones, petrol vehicles, and rechargeable batteries.

Furthermore, China has the nation's biggest fleet of electrical two- & three-wheelers as well as vans. Likewise, the Indian administration is spending INR 10,000 crores in the Electric vehicle industry through the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) initiative.

Johnson Matthey PLC., Texas Instruments Inc., Linear Technology Corporation, vecture Inc., NXP Semiconductors, Elithion Inc., Nuvation Engineering, Intersil Corporation, Ventec SAS, GenerVentec SAS, ex Systems, and Lithium Balance A/S are among the well-known businesses covered in the study. These businesses introduce new products and services by collaborating with other industry players to innovate and introduce new products to meet the rising needs and necessities of consumers.

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GLOBAL BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE

 

  • Lead Acid Based
  • Lithium-Ion Based
  • Nickel Based

GLOBAL BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY

  • Centralized
  • Distributed
  • Modular

GLOBAL BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION

  • Automotive
  • Industrial
  • Telecommunication
  • Consumer Electronics
  • Others

GLOBAL BATTERY MANAGEMENT SYSTEM MARKET, BY REGION

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • the United Kingdom
    • Rest of Europe
  • Asia Pacific
    • India
    • China
    • South Korea
    • Japan
    • Rest of APAC
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of LATAM
  • The Middle East and Africa
    • Saudi Arabia
    • the United Arab Emirates
    • Rest of MEA

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