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Battery Management System Market By Battery Type, By Topology, By Application : Global Opportunity Analysis and Industry Forecast, 2023-2032
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The Battery Management System Market is expected to experience a significant growth rate of 19.1% from 2023 to 2032 owing to an increase in the use of rechargeable batteries in a wide range of end-use industries - Allied Market Research

For instance, in April 2023, Log9 Materials, a Bengaluru-based advanced battery technology, and deep-technology startup, established first commercial lithium-ion (Li-ion) cell manufacturing plant in India. Moreover, the company also unveiled its battery management system, Charvik, which is equipped with advanced power control algorithms to manage lithium-ion batteries. In addition, in January 2023, Exicom, a manufacturer of electric car chargers and lithium-ion batteries, signed an agreement with Hero Electric to offer its battery management systems for lithium batteries. Hero Electric has agreed to buy 5 lakh Exicom BMS (Battery Management Systems) every year under the terms of the agreement. Moreover, lithium battery manufacturers offered BMS for their batteries.

For instance, in December 2020, Inverted energy, a lithium-ion battery business, announced the launch of its first advanced battery management system, OJAS BMS. Developments like this are anticipated to propel the growth of the battery management system market for this segment. Distributed type of topology provides improved precision, owing to the presence of dedicated microcontrollers for each cell, and are cheaper in price. In addition, these types of battery management systems are scalable and may be transformed by varying the number of cell boards.

Moreover, this type of BMS is adopted for advanced solutions such as wireless BMS. For instance, in May 2022 Marelli, a prominent global automotive supplier, launched a new state-of-the-art Wireless Distributed Battery Management System (wBMS) and expanded battery management technologies for electric vehicles. This technology removes the requirement for physical connections in battery management systems (BMS) found in other architectures. As a result, it offers improved flexibility, efficiency, dependability, and cost-effectiveness, which are crucial considerations for electric vehicles.

Thus, these advantages drive growth for the distributed topology segment. In recent years, the use of lithium-ion batteries has increased in a variety of industries, including automotive, aerospace, and consumer electronics. This movement in choice is being driven by higher energy density, longer lifespan, and lower environmental impact of lithium-ion batteries as compared to previous battery technologies. As a result, the demand for battery management systems (BMS) to ensure the efficient and safe operation of these batteries has expanded dramatically. However, the BMS market is restricted by the complexity of component design and the challenges associated with installing efficient thermal management systems.Moreover, governments throughout the world invest in the development of EV charging stations and other infrastructure to facilitate the broad adoption of EVs in order to cut carbon emissions and combat climate change.

The increased government spending on EV infrastructure creates a substantial opportunity for the battery management system market. The battery management system market is segmented on the basis of battery type, topology, application, and region. On the basis of battery type, the market is categorized into lithium-ion based, lead-acid based, nickel based, and others. On the basis of topology, it is segregated into centralized, distributed, and modular. On the basis of application, it is fragmented into automotive, telecommunication, consumer electronics, industrial, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Key players profiled in the report include Sensata Technologies, Inc., NXP Semiconductors, Renesas Electronics Corporation., Analog Devices, Inc., Texas Instruments Incorporated, STMicroelectronics, Leclanche SA, Nuvation Energy, Elithion Inc., Eberspacher Gruppe GmbH & Co. KG, Infineon Technologies AG, and Exponential Power.

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Key Market Segments

By Battery Type

By Topology

By Application

By Region

Key Market Players:

TABLE OF CONTENTS

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW

CHAPTER 4: BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE

CHAPTER 5: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY

CHAPTER 6: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION

CHAPTER 7: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION

CHAPTER 8: COMPETITIVE LANDSCAPE

CHAPTER 9: COMPANY PROFILES

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