Market Research Report
Global Battery Monitoring Systems Market Research Report-Forecast till 2026
|Global Battery Monitoring Systems Market Research Report-Forecast till 2026|
Published: August 1, 2020
Market Research Future
Content info: 155 Pages
Delivery time: 1-2 business days
The Global Battery monitoring systems market is expected to exhibit substantial market growth during the forecast period of 2026. Battery monitoring systems are used to supervise the working of batteries through the measurement of the battery voltage, level of charging, and load. The EV batteries have many advantages such as low emission rates, high energy density, and long lifecycles. Because of various advantages, lithium-ion batteries and lead-acid batteries are used in data centers to support UPS systems and supply back-up power over long periods.
The global battery monitoring systems market is propelled by the growing need for battery monitoring systems due to rising adoption in electric vehicles. The increasing fuel costs used for internal combustion have also given rise to the requirement for zero-emission vehicles globally. The battery is a crucial part of electric vehicles and owing to many advantages these vehicles are in high demand. However, the increasing need for battery monitoring systems in data centers is estimated to surge the global battery monitoring systems market during the review period. Furthermore, many governments across the globe have supported battery manufacturers for EVs to help transition their domestic energy supplies to renewables.
Global Battery Monitoring Systems Market has been classified in terms of Component, Type, Battery Type, Product, End-Use, and Region.
Based on the component segment, the global battery monitoring market has been divided into hardware, software, and services. In terms of the type segment, the global market has been bifurcated into wired and wireless. By battery type, the market has been categorized into lithium-ion, lead-acid, and others. Depending on the product type, the global market has been segmented into stationary batteries and motive batteries. Based on the end-use category, the global market has been classified into automotive, telecommunications, consumer electronics, utilities, aerospace & defense, and others.
Region-specific analysis of the global battery monitoring systems market has been classified into five major regions, namely North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America is likely to contribute the largest market owing to the significant increase in the demand for EVs past few years. The demand for electric cars has increased in the last five years and is expected to gain significant market growth during the review period. Moreover, the increased demand for BMS to control and manage the batteries in EVs across the US, Canada, and Mexico is expected to create the largest growth during the study. However, the demand for BMS also comes from data centers. Furthermore, various new data center projects have been initiated in the region, including Google's new plan to invest billions in its US offices and data centers in 2020.
The Key Players in the Global Battery Monitoring Systems Market are Vertiv Holdings Co, Cellwatch, Batterydaq, HBL Power Systems Ltd, Socomec, Storage Battery Systems, LLC, Texas Instruments Incorporated, Powershield Limited, CPG (Canara), Btech Inc., Eagle Eye Power Solutions, LLC, Curtis Instruments, Inc., Nuvation Energy, ABB, and Schneider Electric.
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.