According to the report, global battery management systems market was valued at around USD 2,260.3 million in the year 2016 and it is expected to reach approximately USD 10,509.9 million by 2024. The global battery management systems market is expected to exhibit a CAGR of more than 21.2% between 2017 and 2024.

New York, Feb. 06, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Battery Management Systems Market by (Battery Type (Lithium-Ion–Based Batteries, Lithium-Ion–Based Batteries, Advanced Lead-Acid Batteries, Flow Batteries, Nickel-Based Batteries, and Others (Sodium-Sulfur (NAS) Batteries and Solid State Batteries)); Battery type (Hardware (Battery Control Unit, Power Management IC, and Communication Channel) and Software); Topology (Centralized, Modular, and Distributed); Application (Automotive (Electric Vehicles, E-Bikes, and Automated Guided Vehicles) ,Military, Medical, Portable Device (Consumer Electronics, Portable Power Tools, and Portable Batteries), Telecommunication, Renewable Energy System, Uninterrupted Power Supply (UPS), and Others( Marine and Home Appliances))- Global Industry Analysis, Size, Share, Growth, Trends, and forecast 2017 – 2024”.

According to the report, global battery management systems market was valued at around USD 2,260.3 million in the year 2016 and it is expected to reach approximately USD 10,509.9 million by 2024. The global battery management systems market is expected to exhibit a CAGR of more than 21.2% between 2017 and 2024.

The chief factors that will trigger the growth of the battery management systems market are the increasing use of battery operated devices such as an electronic vehicle, e-bike, portable devices etc. Moreover, rising demand for UPS system owing to accelerating the shift toward the Internet of Things (IoT), digitization, and cloud computing accelerating the demand for uninterruptible power supply (UPS) systems across different applications globally.

Browse through 23 Tables & 34 Figures spread over 110 Pages and in-depth TOC on "Global Battery Management Systems Market Size, Share 2016: Industry Forecast Report 2022”.

Request Free Sample copy of Global Battery Management Systems Market Report @ https://www.zionmarketresearch.com/sample/battery-management-systems-market

Several types of batteries are being used for various applications. Lithium-ion–based batteries, advanced lead-acid batteries, flow batteries, and nickel-based batteries are the major type of rechargeable batteries used in battery management system. Among the batteries type, Lithium-Ion–Based Batteries accounted major share in global battery management systems market and expected to register high CAGR over the forecast period. Lithium-ion–based battery is accepted in different applications owing to its lightweight, high energy and power density, and low standby losses, and this is expected to propel the growth of segment in the coming years.  
    
The embedded software in the battery management system is the core of smart intelligence of Battery Management System.  The software helps to control all the function of tools used in the system. Thus, the software segment is expected to register high growth over the forecast period by component type in battery management system market globally.

Browse the full " Battery Management Systems Market by (Battery Type (Lithium-Ion–Based Batteries, Lithium-Ion–Based Batteries, Advanced Lead-Acid Batteries, Flow Batteries, Nickel-Based Batteries, and Others (Sodium-Sulfur (NAS) Batteries and Solid State Batteries)); Component (Hardware (Battery Control Unit, Power Management IC, and Communication Channel) and Software); Topology (Centralized, Modular, and Distributed); Application (Automotive (Electric Vehicles, E-Bikes, and Automated Guided Vehicles) ,Military, Medical, Portable Device (Consumer Electronics, Portable Power Tools, and Portable Batteries), Telecommunication, Renewable Energy System, Uninterrupted Power Supply (UPS), and Others( Marine and Home Appliances))
- Global Industry Analysis, Size, Share, Growth, Trends, and forecast 2017 – 2024" report at https://www.zionmarketresearch.com/report/battery-management-systems-market

Modular topology provides secure power with high efficiency and availability. The modular topology is expected growth at high CAGR over the forecast period owing to rising demand for modular topology in industrial UPS, Electric Vehicles (EV), drones, and energy storage system.

The increasing demand for battery driven public transport is expected to boost the growth of battery management market in the coming years.  The energy source used in battery operated public transports is cheaper and cleaner than oil and reduces operational emissions. That is produced lower air pollutant emissions and CO₂.

Ask The Analyst: https://www.zionmarketresearch.com/ask-to-analyst/battery-management-systems-market

Market Report Highlights:

• Economies such as China, Brazil, and India are expected to experience a significant market growth owing to the implementation of the safety regulations
• Lack of infrastructure and policies in developing economies for development of energy vehicles may affect the market growth negatively
• Lithium-Ion–Based batteries dominate the battery type segment of the battery management system market
• The rising demand for modular topology in industrial UPS, Electric Vehicles (EV), drones, and energy storage system is expected to drive the growth of segment over the forecast period
• The rising demand for hybrid electric vehicles is expected to boost the growth of automotive segment in battery management system market over the forecast period. 
• North America holds the dominant position in the global battery management system market with around 35% share in 2017
• The U.S. is the leading country in the battery management system market in North America
• Japan, India, and China are some of the leading countries that contribute the major share in the battery management system market in the Asia Pacific
• The limited adoption rate of the battery management system in the Latin Americas is one of the major concern for industry participants

According to the analysts and insight shared by industry experts in primary research, software component will open up many opportunities for the battery management system market. The software of battery management system helps in fault detection and diagnostic services, monitoring battery's state of charge & health, and battery performance.

Inquire more about this report before purchase @ https://www.zionmarketresearch.com/inquiry/battery-management-systems-market

Some of the prominent market players in the battery management system market include Ashwoods Electric Motors, Atmel Corporation, Elithion, Inc. AVL, Eberspächer, Ewert Energy Systems, Inc., Johnson Matthey, Linear Technology, Lithium Balance, Larsen & Toubro Limited, Midtronics, Mastervolt, Merlin, Nuvation Engineering, NXP Semiconductors, Navitas System, LLC Corporate, Panasonic Corporation, Texas Instruments Incorporated., TOSHIBA CORPORATION, Valence Technology, Inc., and VENTEC,  among others.

Request customized copy of report @ https://www.zionmarketresearch.com/custom/2576

Market Segmentation:

Global Battery Management Systems Market: Battery Type Segment Analysis

• Lithium-Ion–Based Batteries
• Advanced Lead-Acid Batteries
• Flow Batteries
• Nickel-Based Batteries
• Others (Sodium-Sulfur (NAS) Batteries and Solid State Batteries)

Global Battery Management Systems Market: Component Segment
Analysis

• Hardware

• Battery Control Unit
• Power Management IC
• Communication Channel

• Software

Global Battery Management Systems Market: Topology Segment Analysis

• Centralized
• Modular
• Distributed

Global Battery Management Systems Market: Application Segment
Analysis

• Automotive

• Electric Vehicles
• E-Bikes
• Automated Guided Vehicles

• Military
• Medical
• Portable Device

• Consumer Electronics
• Portable Power Tools
• Portable Batteries

• Telecommunication
• Renewable Energy System
• Uninterrupted Power Supply (UPS)
• Others( Marine, Home Appliances)

Global Battery Management Systems Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
• The Middle East and Africa
  • GCC Countries
  • Southern Africa

Rest of Middle East & Africa

Related Reports

• Mixed Signal System-on-Chip (MxSoC) Market: https://www.zionmarketresearch.com/report/mixed-signal-system-on-chip-market
•  
• Image Sensor Market: https://www.zionmarketresearch.com/report/image-sensor-market
•  
• Intelligent highway Market: https://www.zionmarketresearch.com/report/intelligent-highway-market
•  
• Lithium-Ion Battery Market: https://www.zionmarketresearch.com/report/lithium-ion-battery-market
•  
• LED Lighting Market: https://www.zionmarketresearch.com/report/led-lighting-market

About Us:

Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Follow Us LinkedIn: https://www.linkedin.com/company/zion-market-research

Follow Us Twitter: https://twitter.com/zion_research

Contact Us:

Joel John

Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.