250 Pages Battery Management System Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider
ICT companies are extensively adopting technologies such as cloud computing and artificial intelligence to ensure seamless operations as teams continue working from home. Focus on fast automation, use of real-time operation within various end-use sectors such as automotive, food & beverage and others will provide stimulus to the growth.
The report offers actionable and valuable market insights of Battery Management System. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Battery Management System Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Battery Management System market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Battery Management System
This newly published and insightful report sheds light on Market Insights of Battery Management System, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Battery Management System Market.
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Battery Management System Market Structure
The battery management system market is thoroughly studied to derive a viable market structure.
Based on an in-depth assessment, the battery management system market is segmented based on topology, components, application and region.
Based on topology, the battery management system market is sub-segmented into centralized, modular and distributed types of topologies.
With respect to components, the battery management system market is sub-segmented into battery management unit and communication unit.
The battery management system market is also categorized based on applications that includes automotive, energy, telecommunication and consumer handheld.
The battery management system market is studied for key regions including North America, Latin America, Europe, Japan, APEJ and MEA.
The regional analysis is backed by a thorough country-wise analysis and forms the basis of the global forecast of the battery management system market.
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Battery Management System Market – Competitive Landscape
The competitive landscape section of the battery management system market report delivers vital information regarding future and present competition scenario.
A dashboard view of all the key players in the battery management system market can be found in the section.
Further, important information such as product offerings, business development, relative market size and global market footprints of all the key players in the battery management system market can be found in the competitive landscape section.
Few of the key players profiled in the battery management system market include
- Eberspaecher Vecture Inc.
- Toshiba Corporation
- Larsen & Turbo Technology Services
- AVL List GmbH
- Lithium Balance A/S
- Johnson Matthey Plc.
- Texas Instrument Inc.
- NXP Semiconductors NV
- Nuvation Engineering
- Merlin Equipment Ltd
Prominent business strategies observed in the battery management system marketplace are merger, acquisition and collaboration.
Over 10 million battery management systems are likely to be sold in 2019, which will nearly 20% increase over 2018, according to Fact.MR’s latest study. The optimistic growth of the battery management system market can be attributed to,
- Electrification of the automotive industry that heavily relies on batteries
- Development of high power batteries and increasing demand for improved battery management system
- Significant investments by OEMs to develop efficient and reliable battery management systems
The study foresees that centralized topology in the battery management system market will continue to hold a larger market share. In 2019, volume sales of centralized topology are expected to account for over four-fifth share of battery management system market.
According to the Fact.MR study, battery management unit component is projected to account for over 73% volume sales in 2019. However, the communication unit component witnessed a significant y-o-y growth of 21% in 2018 against the backdrop of increasing demand for electric vehicles and consumer handheld appliances—the status-quo is likely to continue in 2019.
In a bid to meet the demand for lightweight and fuel efficient vehicles, automotive industry’s reliance on electronic components has increased significantly. Additionally, emergence of electric vehicles and consistent innovations to introduce improved battery performance are likely to increase demand for battery management systems in the future.
Fact.MR estimates that automotive industry continues to register a significant demand for battery management system and accounted for over two-fifth volume sales in 2018. Demand for battery management system in the energy-related applications is projected to register the second highest demand for battery management systems.
Battery management system provides an efficient energy storage system loading control strategy with improved energy utilization efficiency and optimized energy load characteristics. Further, increased emphasis on the installation of renewable energy sources across the world and development of lithium batteries with enhanced performance and lifecycle have necessitated the installation of battery management system in the power-related applications.
The study finds that sales of battery management system in telecommunication and consumer handheld applications are also expected to rise in the coming years. Globally, consumer electronics, especially handheld devices such as smartphone and tablets find an extensive application. In the telecommunication industry, to maintain the services of network infrastructure up and running, batteries are plating vital role, in turn, generating demand for battery management system.
North America Continues Ascendancy in the Market, APEJ and MEA to Witness Higher Growth Rate
With volume sales of nearly 4 million units, North America is projected to reserve its pole position in the battery management system market in 2019. Europe is estimated to follow North America, albeit growing at a faster rate. These developed regions with their flourishing automotive industry and increasing power demand present the most lucrative market for battery management system.
Developing countries such as China and GCC countries in APEJ and MEA regions present growing demand for battery management system. Fact.MR study finds that APEJ and MEA will witness rapid growth in the coming years, wherein both the regions are expected to register over 23% growth in 2019.
As battery management system enhances battery lifespan and improves overall battery performance, battery-based device manufacturers prefer reliable and certified products distributed through original equipment manufacturers (OEM). These end-user sentiments explain the dominance of Tier 1 players in the battery management system market.
In the consolidated marketplace, top players are leveraging merger, acquisition and collaboration strategies to increase their revenue share in the market. These business developments are aimed at delivering efficient and high quality battery management system to stay ahead of end-user demand for accurate and reliable services.
The Fact.MR report tracks the battery management system market for the period 2018-2027. According to the report, the battery management system market is projected to grow at an impressive 21.2% CAGR through 2027.
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More Valuable Insights on Battery Management System Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Battery Management System, Sales and Demand of Battery Management System, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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