Battery management system for portable devices is expected to lead the market

The battery management system market was valued at USD 1.98 Billion in 2015 and is expected to reach USD 7.25 Billion by 2022, at a CAGR of 20.5% during the forecast period. The base year used for this study is 2015 and the forecast period is between 2016 and 2022. 

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This report provides a detailed analysis of the battery management system market on the basis of battery types, components, topologies, applications, and geography. The growing application of battery management systems in electric vehicles and in renewable energy systems are a major driver for the market. Additionally, one of significant opportunities in the future for the battery management system is its growing applications in battery-driven public transport and datacenters.

Portable devices such as consumer electronics, power tools, and portable power banks use battery as the sole power source. For the smooth working of these devices, the battery’s management, control, and maintenance are essential. Hence, these applications widely employ battery management systems for the same. The growing demand for these devices globally is expected to drive the battery management system market.

North America is expected to hold the largest market share and dominate the battery management system market owing to the high demand for battery-powered electric vehicles, e-bikes, and automated guided vehicles in the U.S. In addition to this, the increasing number of projects in North America related to energy storage through renewable energy storage systems is also expected to drive the market. Asia-Pacific offers potential growth opportunities owing to the increasing adoption of various applications that are driving the battery management system market.

Major players in this market include Johnson Matthey Plc. (U.K.), Lithium Balance A/S (Denmark), Nuvation Engineering (U.S.), Valence Technology, Inc. (U.S.), Intersil Corporation (U.S.), Linear Technology Corp (U.S.), NXP Semiconductors N.V. (Netherlands), Texas Instruments Inc. (U.S.), Elithion, Inc. (U.S.), Vecture Inc. (Canada), and Ventec SAS (France).

This research report categorizes the global battery management system market on the basis of battery types, components, topologies, applications, and geography. This report describes the drivers, restraints, opportunities, and challenges for the growth of the battery management system market. The Porter’s five forces analysis has also been included in the report with a description of each of its forces and its respective impact on the position sensor market.

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