Battery Monitoring System Market to Surpass $ 5 Billion by 2025
Increasing demand for
electric & hybrid vehicles, growing need for generating renewable power and
rising need to increase the operational efficiency of batteries to drive global
battery monitoring system market
According to TechSci Research report, “Global Battery
Monitoring System Market By Component, By Type, By
Battery Type, By End-User, By Region,
Competition, Forecast & Opportunities, 2025”, the global battery monitoring system market is projected to cross $
5.3 billion by 2025 on account of rising demand for electric & hybrid
vehicles, increasing investments in data centers, growing focus on generating
power from renewable sources across the globe. The global plug-in vehicle
deliveries sales in 2019 rose by 9% compared to 2018. Rising adoption of EVs
due to their better performance & efficiency attributes is expected to have
a huge positive impact on the global battery monitoring system in near future.
Global battery monitoring system
market is segmented based on component, type, battery type, end user and
region. Based on the component, the market is segmented into Hardware &
Software. The hardware segment dominates the market and is expected to maintain
its dominance through 2025. Based on the type, the market is segmented into
wired battery monitoring system & wireless battery monitoring system. The wired
battery monitoring system accounts for around four-fifth of the market and is
expected to remain the largest segment during the forecast period.
Browse 130 market data Figures spread through 120 Pages and an
in-depth TOC on "Global Battery Monitoring System Market "
https://www.techsciresearch.com/report/global-battery-monitoring-system-market/2131.html
Based on the type of battery, the
market is segmented into Lithium-ion battery, Lead Acid battery & others.
The Lithium-ion based battery segment is expected to dominate the market due to
the growing adoption of lithium-ion batteries in power tools, battery backup
and electric vehicles. Some
of the major players operating in the global battery monitoring system market
are SBS, PowerShield
Limited, Schneider Electric, BatteryDAQ, HBL Power Systems Limited, SOCOMEC
Group, Curtis Instruments, Inc., BTECH, Eagle Eye Power Solution, etc.
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“Significant investments
& technological advancements in data centres, massive popularity of Electric
Vehicles (EVs) coupled with government financial incentives for the adoption of
EVs is expected to drive the global
battery monitoring system market during the forecast period.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Battery
Monitoring System Market By Component, By Type, By Battery
Type, By End-User, By Region,
Competition, Forecast & Opportunities, 2025” has analyzed the potential of battery monitoring
system market across the globe, and provides statistics and information on
market sizes, shares and trends. The report will suffice in providing the intending clients
with cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyzes emerging trends
along with essential drivers and key challenges faced by the industry.
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