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Pulished Date February, 2021
ID: 11118
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Battery Monitoring System Market Size, Share, Trends and Growth Analysis Report – Segmented By Component (Hardware and Software), By Type (Wired and Wireless), By Battery Type (Lithium-Ion Based and Lead Acid), By End User (Telecommunications, Automotive, Energy and Industries) and Region - Industry Forecast | 2021 to 2026

Pulished: February, 2021
ID: 11118
Pages: 175

Battery Monitoring System Market Analysis Report (2021 - 2026)

The worldwide market for Battery Monitoring System was valued at USD 2.21 billion in 2021 and is predicted to grow at a CAGR of 18.67%, during the foreseen period, to reach USD 5.82 million in 2026.

Escalating call for electric vehicles, escalating battery operating efficiency, and the need to avoid unforeseen breakdowns are the main factors driving the battery monitoring system. It alerts the user to the existing net charge or total available battery or battery bank backup. Any particular damage to the battery can be easily monitored in order to take the necessary measures to protect the battery from any major damage affecting its ability to function. Therefore, battery monitoring can extend the life and efficiency of the battery. A battery monitoring system generally monitors battery charging, discharging, and charging; AC grid voltage and frequency; and ambient temperature and battery temperature. The battery monitoring system also enables a live report on battery performance to be generated and triggers an alarm if a fault is detected.

Battery Monitoring System Market Trends

The call for clean energy has increased dramatically due to awareness and growing concern about worldwide warming. This has led to a transition to energy sources such as solar, wind, and eco-friendly electric and hybrid vehicles. Energy storage is a major concern for the successful implementation of these clean solutions. It can be solved by applying batteries of different capacities for energy storage. Therefore, monitoring these batteries is an important task to ensure the correct operation of these clean technologies and applications that depend directly or indirectly on the battery.

Recent Developments

  • Lithium-ion battery company Inverted Energy announced today that it launched its first advanced battery management system, OJAS BMS, on Thursday. The company, based here, said the technology offers greater control over the battery, delivering efficient performance. He plans to make the system available as a standard offering on all planned battery models.

  • Nuvation launches a new battery management system. Nuvation Engineering has released a modular, scalable, ready-to-use BMS that decreases the requirement for makers in the electric vehicle, storage and battery industries. energy and telecommunications networks develop their own customized solutions.

Battery Monitoring System Market Drivers

The factor determining the call for battery monitoring systems is their escalating adoption in electric vehicles. Energy shortages, the depletion of fossil fuels, and escalating pollution levels from vehicles are the main factors that have led to the development of electric vehicles. Additionally, the high costs of fuels employed in internal combustion (IC) engines have also led to the need for electric vehicles. An EV is a zero-emission vehicle that is worldwide seen as the future of the transportation system. Batteries have several advantages, such as low emission rates, high energy density, and long life cycles, and are employed as a power source in electric vehicles. Many governments around the world have supported electric vehicle battery manufacturers to help them transition their household power supplies to renewable energy.

Battery Monitoring System Market Restraints

Battery monitoring systems are apparently expensive and complex, especially for larger battery solutions. Large solar and wind energy storage projects require specific guidance on the type and size of storage. Additionally, larger energy storage systems require more battery monitors to obtain accurate parameter results in real time. Therefore, this results in a significant increase in the total cost of battery monitoring systems. Therefore, the high cost of battery monitoring systems for larger battery solutions is predicted to be a limitation in the market.

Opportunities in the Battery Monitoring System Market

The growing call for battery monitoring systems in data centers is predicted to drive the worldwide market for battery monitoring systems. Data centers are made up of servers, network systems, and storage resources, which organize, store, and process data and information. Data centers help organizations run their core applications. Different types of batteries, such as lithium-ion batteries and lead-acid batteries, are employed in data centers to support UPS systems and provide backup power for long periods of time. Proper battery monitoring in data centers is essential, as battery failures can disrupt operations and lead to financial losses. Therefore, battery monitoring systems embedded in batteries improve the operation and security of data centers.

Challenges in the Battery Monitoring System Market

The high cost associated with battery monitoring systems for larger battery solutions and the presence of a large number of local and regional players are some difficult factors that can hamper the expansion of this market.

Battery Monitoring System Market Segmentation as per the research report until 2026.

By Component

  • Hardware
  • Software

The hardware segment is predicted to be the fastest growing battery monitoring systems market, by component, from 2021 to 2026. Asia-Pacific and North America are the main hardware markets due to the growing call for battery monitoring. All of these factors are predicted to drive the battery monitoring system market over the foreseen period.

By Type

  • Wired
  • Wireless

The wired segment is predicted to be the largest market for battery monitoring systems in 2021. Wired systems are employed in applications where there is the most electrical interference, such as data centers, which are predicted to be the largest end user segment of battery monitoring systems.

By Battery Type

  • Lithium-ion based
  • Lead-acid

By End-user

  • Telecommunications
  • Automotive
  • Energy
  • Industries

By Region

  • North America 

  • Europe 

  • Asia Pacific

  • Latin America 

  • Middle East & Africa 

North America is predicted to have the largest market share during the foreseen period, due to the sharp increase in call for electric vehicles in recent years. In North America, the sale of electric cars has doubled since 2015, implying that the call for electric cars is escalating at a rapid rate. This call is predicted to increase the need for BMS to monitor and manage batteries for electric vehicles in the United States, Canada and Mexico. Call for BMS is also coming from data centers. Several new data center projects have been launched in the region, including Google's new plan to invest billions in its offices and data centers in the United States in 2020. The North American market is driven by increased sales of electric vehicles, growing investment in data centers, and increased renewable energy production capacity in the region. It is predicted to grow at the second fastest rate during the foreseen period. The United States and Canada are predicted to be the largest markets for battery monitoring systems in the region.

Impact of Covid-19 on Battery Monitoring System Market:

The battery industry has grown at an impressive rate over the past two decades, supported by the growing call for power from modern portable consumer electronics, electric vehicles, and the growing adoption of power generation. intermittent renewable. The COVID-19 endemic has slowed the pace of battery supply chains as most battery cells are made in China, highlighting the overwhelming dependence on China and the risks related with the supply chain. This has sparked the interest of various stakeholders in localizing / regionalizing supply chains in the US and EU regions to mitigate supply chain risks. 5G is predicted to become the backbone of telecommunications in the coming years. Most telecom operators are embarking on network upgrades and new construction in the coming years to cope with increased traffic, offer improved mobile broadband, respond to IoT and mission critical applications. In turn, this trend, which translates into increased investment in infrastructure by telecommunications and tower companies, is predicted to significantly boost call for critical backup power systems to maintain availability close to 100%.

Battery Monitoring System Market Key Players:

The Prominent Players in the Global Battery Monitoring Systems Market are Vertiv Holdings Co, Cellwatch, Batterydaq, Powershield Limited, CPG (Canara), Btech Inc., Eagle Eye Power Solutions, LLC, Curtis Instruments, Inc., HBL Power Systems Ltd, Socomec, Storage Battery Systems, LLC, Texas Instruments Incorporated, Nuvation Energy, ABB, and Schneider Electric

1. Introduction                                

               1.1 Market Definition                    

               1.2 Scope of the report                

               1.3 Study Assumptions                  

               1.4 Base Currency, Base Year and Forecast Periods                         

2. Research Methodology                                          

               2.1 Analysis Design                        

               2.2 Research Phases                      

                              2.2.1 Secondary Research           

                              2.2.2 Primary Research 

                              2.2.3 Data Modelling      

                              2.2.4 Expert Validation  

               2.3 Study Timeline                         

3. Report Overview                                       

               3.1 Executive Summary                

               3.2 Key Inferencees                       

4. Market Dynamics                                     

               4.1 Impact Analysis                        

                              4.1.1 Drivers      

                              4.1.2 Restaints  

                              4.1.3 Opportunities         

               4.2 Regulatory Environment                      

               4.3 Technology Timeline & Recent Trends                           

5. Competitor Benchmarking Analysis                                   

               5.1 Key Player Benchmarking                     

                              5.1.1 Market share analysis        

                              5.1.2 Products/Service   

                              5.1.3 Regional Presence

               5.2 Mergers & Acquistion Landscape                     

               5.3 Joint Ventures & Collaborations                       

6. Market Segmentation                                            

               6.1 Battery Monitoring System Market , By Type               

                              6.1.1 Wired        

                              6.1.2 Wireless   

                              6.1.3 Market Size Estimations & Forecasts (2021-2026)   

                              6.1.4 Y-o-Y Growth Rate Analysis              

                              6.1.5 Market Attractiveness Index           

               6.2 Battery Monitoring System Market , By Component                 

                              6.2.1 Hardware 

                              6.2.2 Software  

                              6.2.3 Market Size Estimations & Forecasts (2021-2026)   

                              6.2.4 Y-o-Y Growth Rate Analysis              

                              6.2.5 Market Attractiveness Index           

               6.3 Battery Monitoring System Market , By Battery Type               

                              6.3.1 Lithium-Ion Based

                              6.3.2 Lead Acid 

                              6.3.3 Market Size Estimations & Forecasts (2021-2026)   

                              6.3.4 Y-o-Y Growth Rate Analysis              

                              6.3.5 Market Attractiveness Index           

               6.4 Battery Monitoring System Market , By End-User                      

                              6.4.1 Telecommunications           

                              6.4.2 Automotive            

                              6.4.3 Energy and Industries         

                              6.4.4 Market Size Estimations & Forecasts (2021-2026)   

                              6.4.5 Y-o-Y Growth Rate Analysis              

                              6.4.6 Market Attractiveness Index           

7. Geographical Landscape                                        

               7.1 Global Identity Governance and Administration Market, by Region                   

               7.2 North America - Market Analysis (2018 - 2024)                          

                              7.2.1 By Country              

                                             7.2.1.1 USA

                                             7.2.1.2 Canada

                              7.2.2 By Type    

                              7.2.3 By Component       

                              7.2.4 By Battery Type     

                              7.2.5 By End-User           

               7.3 Europe                        

                              7.3.1 By Country              

                                             7.3.1.1 UK

                                             7.3.1.2 France

                                             7.3.1.3 Germany

                                             7.3.1.4 Spain

                                             7.3.1.5 Italy

                                             7.3.1.6 Rest of Europe

                              7.3.2 By Type    

                              7.3.3 By Component       

                              7.3.4 By Battery Type     

                              7.3.5 By End-User           

               7.4 Asia Pacific                 

                              7.4.1 By Country              

                                             7.4.1.1 China

                                             7.4.1.2 India

                                             7.4.1.3 Japan

                                             7.4.1.4 South Korea

                                             7.4.1.5 South East Asia

                                             7.4.1.6 Australia & NZ

                                             7.4.1.7 Rest of Asia-Pacific

                              7.4.2 By Type    

                              7.4.3 By Component       

                              7.4.4 By Battery Type     

                              7.4.5 By End-User           

               7.5 Latin America                           

                              7.5.1 By Country              

                                             7.5.1.1 Brazil

                                             7.5.1.2 Argentina

                                             7.5.1.3 Mexico

                                             7.5.1.4 Rest of Latin America

                              7.5.2 By Type    

                              7.5.3 By Component       

                              7.5.4 By Battery Type     

                              7.5.5 By End-User           

               7.6 Middle East and Africa                         

                              7.6.1 By Country              

                                             7.6.1.1 Middle East

                                             7.6.1.2 Africa

                              7.6.2 By Type    

                              7.6.3 By Component       

                              7.6.4 By Battery Type     

                              7.6.5 By End-User           

8. Key Player Analysis                                   

               8.1 Vertiv Holdings Co                  

                              8.1.1 Business Description           

                              8.1.2 Products/Service   

                              8.1.3 Financials 

                              8.1.4 SWOT Analysis       

                              8.1.5 Recent Developments        

                              8.1.6 Analyst Overview  

               8.2 Batterydaq                 

               8.3 Powershield Limited               

               8.4 CPG               

               8.5 Eagle Eye Power Solutions, LLC                         

               8.6 Curtis Instruments, Inc                         

               8.7 HBL Power Systems Ltd                        

               8.8 Socomec                    

               8.9 Texas Instruments Incorporated                       

               8.10 ABB Ltd                    

9. Market Outlook & Investment Opportunities                                 

Appendix                                          

               List of Tables                    

               List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • The segment-level analysis in terms of By Diagnostic Wearable Devices, and Therapeutic Wearable Devices along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Battery Monitoring System  Market By Region, From 2021-2026 ( USD Billion )

  2. Global Battery Monitoring System  Market By Type, From 2021-2026 ( USD Billion )

  3. Global Wired Market By Region, From 2021-2026 ( USD Billion )

  4. Global Wireless Market By Region, From 2021-2026 ( USD Billion )

  5. Global Battery Monitoring System  Market By Component, From 2021-2026 ( USD Billion )

  6. Global Hardware Market By Region, From 2021-2026 ( USD Billion )

  7. Global Software Market By Region, From 2021-2026 ( USD Billion )

  8. Global Battery Monitoring System  Market By Battery Type, From 2021-2026 ( USD Billion )

  9. Global Lithium-Ion Based Market By Region, From 2021-2026 ( USD Billion )

  10. Global Lead Acid Market By Region, From 2021-2026 ( USD Billion )

  11. Global Battery Monitoring System  Market By End-User, From 2021-2026 ( USD Billion )

  12. Global Telecommunications Market By Region, From 2021-2026 ( USD Billion )

  13. Global Automotive Market By Region, From 2021-2026 ( USD Billion )

  14. Global Energy and Industries Market By Region, From 2021-2026 ( USD Billion )

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