The battery sensor market is anticipated to grow at a CAGR of 11.82% from US$4.001 billion in 2022 to US$8.744 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, March 14, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the battery sensor market is projected to grow at a CAGR of 11.82% between 2022 and 2029 to reach US$8.744 billion by 2029.

One of the key growth drivers to propel the global battery sensor market during the forecasted period is the growing popularity of electric vehicles around the globe. It is an important part of the energy management system of the vehicle. By measuring the temperature and charging voltage, the sensor informs the car of the exact battery condition.

Another factor that boosts the sales of global battery sensors in the market is the need for industrial energy storage solutions. Also, the rules and regulations by the government for more stringent, electrical & electronic components that emit less harmful substances are increasingly adopted by vehicle manufacturers. The growing population will positively impact the sales of vehicles which is predicted to boost the battery sensor market growth.

Access sample report or view details: https://www.knowledge-sourcing.com/report/global-battery-sensor-market

The global battery sensor market, by communication protocol, is divided into two types- CAN, and LIN. In sensors like FoMoCo, they use LIN bus to send data and with LIN bus alternators there might be some standardization in the protocol. So, with these different types of communication protocols which have their unique use case the market for battery sensors is predicted to grow.

The global battery sensor market, by voltage type, is divided into three types- 12V, 24V, and 48V. Different vehicles or machines that use battery sensors have different energy requirements based on the fact that they use batteries with the appropriate amount of power needed. So, these different voltage types in battery sensors increase their use case and are anticipated to impact the market growth.

The global battery sensor market, by industry vertical, is divided into two types- automotive, and energy and power. In the automotive industry, these sensors are used for the energy management system of the vehicle, and by measuring the temperature and charging voltage it informs accordingly. So, with these various use cases around different industry verticals for battery sensors, the market is predicted to grow.

The North American region is expected to witness significant growth in the global battery sensor market during the forecasted period as this region's growing electric vehicle industry is the main factor driving the battery sensor market. The automotive industry is making significant innovations to transition into electrification of vehicles and battery sensors are a major part of this. With the growing environmental consciousness and a move towards sustainable mobility, the North American government and people are switching over to and promoting electric vehicles and sustainable mobility. The expanding infrastructure for electric vehicle charging pushes the EV market's growth which is predicted to contribute to battery sensor market growth in the North American region.

The research includes several key players from the global battery sensor market, such as FURUKAWA ELECTRIC CO., LTD, NXP Semiconductors, Robert Bosch GmbH, Hella GmbH & Co. KGaA (Forvia SE), Continental AG (Schaeffler Group), and Vishay Intertechnology.

The market analytics report segments the global battery sensor market using the following criteria:

• By Communication Protocol:

o CAN
o LIN

• By Voltage Type:

o 12V
o 24V
o 48V

• By Industry Vertical:

o Automotive
o Energy and Power
o Others

• By Geography:

o North America

• USA
• Canada
• Others

o South America

• Brazil
• Others

o Europe

• Germany
• France
• United Kingdom
• Spain
• Others

o Middle East and Africa

• UAE
• Saudi Arabia
• Israel
• Others

o Asia Pacific

• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Japan
• Others

Companies Mentioned:

• FURUKAWA ELECTRIC CO., LTD
• NXP Semiconductors
• Robert Bosch GmbH
• Hella GmbH & Co. KGaA (Forvia SE)
• Continental AG (Schaeffler Group)
• Vishay Intertechnology

Explore More Reports:

• Batteries For Semiconductor Market: https://www.knowledge-sourcing.com/report/batteries-for-semiconductor-market

• Battery Management IC Market: https://www.knowledge-sourcing.com/report/battery-management-ic-market

• Global Smart Sensors Market: https://www.knowledge-sourcing.com/report/global-smart-sensors-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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