The electric vehicle battery management system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Electric Vehicle Battery Management System Market, 2024 report by The Business
Research Company offers comprehensive insights into the current state of the
market and highlights future growth opportunities.
Market Size -
The electric vehicle battery management system market size has grown
exponentially in recent years. It will grow from $5.38 billion in 2023 to $7.10
billion in 2024 at a compound annual growth rate (CAGR) of 32.1%. The growth in the historic period can be
attributed to rising environmental concerns, increasing fuel prices, growing
demand for electric vehicles, declining battery costs, improving energy
density.
The electric vehicle battery management system market size is expected to see
exponential growth in the next few years. It will grow to $19.35 billion in
2028 at a compound annual growth rate (CAGR) of 28.5%. The growth in the forecast period can be
attributed to enhanced battery performance, evolving battery chemistry,
stringent emission standards, shifting consumer preferences, increasing focus
on energy efficiency. Major trends in the forecast period include integration
of predictive maintenance, development of wireless battery management system
solutions, adoption of cloud-based analytics, rise of solid-state batteries,
expansion of energy-as-a-service models.
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Scope Of Electric Vehicle Battery Management System Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Electric Vehicle Battery Management System Market Overview
Market Drivers -
The rise of electric mobility solutions is expected to propel the growth of the
electric vehicle battery management system market going forward. Electric
mobility solutions encompass a wide range of electrically powered vehicles and
associated infrastructure, such as electric vehicles (EVs) and charging
stations, to reduce reliance on fossil fuels and promote cleaner, more
sustainable transportation. The combination of environmental concerns,
technological advancements, government support, cost savings, and shifting
consumer preferences is driving the rapid rise of electric mobility solutions.
Electric vehicle battery management systems ensure battery packs' safe,
efficient, and reliable operation, optimizing performance, extending battery
life, and enhancing the overall driving experience. For instance, in April
2023, according to reports published by the International Energy Agency (IEA),
a France-based intergovernmental organization, electric car sales surged by 55%
in 2022 compared to 2021, surpassing 10 million units, while the proportion of
electric cars in total car sales increased to 14% in 2022 from 9% in 2021.
Therefore, the rise of electric mobility solutions fuels the growth of the
electric vehicle battery management system market.
Market Trends -
Major companies operating in the electric vehicle battery management system
market increasingly focus on integrating artificial intelligence (AI) to
develop advanced solutions such as battery intelligence software to enhance
battery performance, optimize energy management, and extend battery life.
Integrating artificial intelligence (AI) enables advanced capabilities such as
predictive maintenance, optimized energy management, adaptive control
strategies, and enhancing battery performance, efficiency, and longevity. For
instance, in April 2023, WAE Technologies, a UK-based technology and
engineering services company, launched the Elysia battery intelligence. This
offers innovative features such as battery insight, optimization, and cloud-based
solutions, with AI integration enhancing battery management through data
analysis and predictive capabilities. Its significance lies in revolutionizing
battery management, extending lifespan, and providing actionable insights,
marking a significant advancement in the electric vehicle battery management
system market towards optimizing efficiency and supporting new models of
battery financing.
The electric vehicle battery management system market covered in this report is
segmented –
1) By Battery Type: Lithium-ion, Nickel Metal Hydride, Other Battery Types
2) By Components: Integrated Circuits, Cutoff FETs And FET Driver, Temperature
Sensor, Fuel Gauge And Current Measurement Devices, Microcontroller, Other
Components
3) By Vehicle Type: Battery Electric Vehicles, Hybrid Electric Vehicles
4) By Application: Voltage Monitoring, Temperature Censor, Current Management,
Discharge Monitoring, Other Applications
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Regional Insights -
Asia-Pacific was the largest region in the electric vehicle battery management
system market in 2023. The regions covered in the electric vehicle battery
management system market report are Asia-Pacific, Western Europe, Eastern
Europe, North America, South America, Middle East, Africa.
Key Companies -
Major companies operating in the electric vehicle battery management system
market are SAIC Motor Corporation Limited, Robert Bosch GmbH, Tesla Inc.,
Panasonic Corporation, Intel Corporation, BYD, Contemporary Amperex Technology
Co. Limited (CATL), Continental AG, LG Chem Ltd., Hyundai Mobis, ABB Ltd.,
Toshiba Corporation, Johnson Matthey plc, Texas Instruments Inc., TE
Connectivity, STMicroelectronics N.V., Infineon Technologies AG, NXP
Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation,
Eberspaecher Vecture Inc., Lithium Balance A/S (Sensata Technologies), Sensata
Technologies Holding PLC, Visteon Corporation, Maxim Integrated, Hitachi
Automotive Systems Ltd., LION Smart GmbH, Leclanché SA, Nuvation Energy
(Nuvation Engineering), Merlin Equipment Ltd.
Table of Contents
1. Executive Summary
2. Electric Vehicle Battery Management System Market Report Structure
3. Electric Vehicle Battery Management System Market Trends And Strategies
4. Electric Vehicle Battery Management System Market – Macro Economic Scenario
5. Electric Vehicle Battery Management System Market Size And Growth
…..
27. Electric Vehicle Battery Management System Market Competitor Landscape And
Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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