Market Research Report
Battery Monitoring System - Global Market Outlook (2019-2027)
|Published by||Stratistics Market Research Consulting||Product code||956107|
|Published||Content info||172 Pages
Delivery time: 2-3 business days
|Battery Monitoring System - Global Market Outlook (2019-2027)|
|Published: August 1, 2020||Content info: 172 Pages||
According to Stratistics MRC, the Global Battery Monitoring System Market is accounted for $3.35 billion in 2019 and is expected to reach $14.62 billion by 2027 growing at a CAGR of 20.2% during the forecast period. Increased operational efficiency of batteries, rising renewable power generation, and increasing demand for electric vehicles is some of the factors propelling the growth of the market. However, the high cost of these systems for larger battery solutions is hampering the growth of the market.
The battery monitoring system is a combination of hardware and software which ensures the optimal utilization of energy inside the battery. The battery monitoring system aims to notify the user about the existing scenario and the health of the battery or battery bank. It operates by preventing costly downtime due to unexpected battery failures.
Based on the battery type, the lithium-ion based segment is anticipated to hold considerable market share during the forecast period due to the increasing deployment of lithium-ion batteries in electric vehicles, power tools, and battery backup applications and increasing electric vehicle sales, wherein lithium-ion batteries are deployed. By geography, North America is expected to grow at a significant market share during the forecast period owing to the increasing investments in data centres, rising demand for hybrid electric vehicles, and growing renewable power generation capacities.
Some of the key players profiled in the Battery Monitoring System Market include NDSL, Texas Instruments, Powershield, Batterydaq, Canara, Eagle Eye, HBL, SBS, Schneider Electric, ABB, Socomec, and Curtis.
Connection Types Covered:
Battery Types Covered:
End Users Covered:
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.