Battery Management System Market 2018 | Technology, Application & Geography – Analysis & Forecast to 2026
According to a new study published by Polaris Market Research the Battery Management System Market is anticipated to reach USD 14,422 million by 2026. In 2017, the lead-acid batteries dominated the global market, in terms of revenue.
The rising demand of Battery Management System from the automotive sector primarily drives the growth of this market. These systems are increasingly being adopted across various industries such as aerospace and defense, healthcare, and electronics among others. The increasing adoption of this BMS in data centers, and renewable energy systems further supports the growth of Battery Management System Market.
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North America generated the highest revenue in the market in 2017, and is expected to lead the Battery Management System Market throughout the forecast period. The increasing demand for alternative fuel vehicles, especially the electric-vehicles is expected to drive the growth of the market in this region. The growing use of this system in renewable energy storage systems also accelerates the adoption. Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to increasing demand for BMS from countries such as China, Japan, and India. The presence of large number of automotive manufacturers and portable device suppliers also augments the growth of this market in the region.
The well-known companies profiled in Battery Management System Market research report includes Texas Instruments Inc., Johnson Matthey PLC., Linear Technology Corporation, vecture Inc., Elithion Inc., NXP Semiconductors, Intersil Corporation, Nuvation Engineering, Ventec SAS, Generex Systems, and Lithium Balance A/S among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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With significant government initiatives and substantial investments, the development of public charging infrastructure has accelerated significantly. Technological advancements in components such as lithium-ion batteries, which are majorly used in electric vehicles, along with decreasing prices of the same is expected to further increase the demand of battery based electric vehicles in the market. The different types of topologies included in the report include centralized, distributed, and modular. In 2017, centralized topology accounted for the highest Battery Management System Market share. However, during the forecast period distributed and modular topologies are expected to represent strong growth.
TOC of Battery Management System Market:
Chapter 1. Overview and Scope
Chapter 2. Executive Summary
Chapter 3. Market Insights
Chapter 4. Size and Forecast
Chapter 5. Dynamics and Segmentation
Chapter 6. Detailed Insight on Company Profiles
TOC Continued…...!!!
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on Friday October 19 2018, 5:15 AM EDT.
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