The automotive battery management system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Battery Management System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive battery management system market size has grown rapidly in recent years. It will grow from $4.93 billion in 2023 to $5.81 billion in 2024 at a compound annual growth rate (CAGR) of 17.9%. The growth in the historic period can be attributed to increasing demand for electric vehicles, stringent emission regulations, advancements in battery technology, increasing adoption of renewable energy sources, growing demand for fuel-efficient vehicles.
The automotive battery management system market size is expected to see rapid growth in the next few years. It will grow to $10.73 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%. The growth in the forecast period can be attributed to growing demand for electric vehicles, increasing adoption of autonomous and connected vehicles, rising demand for lightweight materials in vehicle manufacturing, growing focus on reducing carbon footprint in transportation
increasing government support for electric vehicles. Major trends in the forecast period include development of intelligent battery monitoring systems, integration of machine learning for predictive analytics, focus on thermal management in battery systems, standardization of battery interfaces and protocols, growth in energy storage applications beyond vehicles.
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Scope Of Automotive Battery Management System Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
Increased adoption of electric vehicles globally is expected to propel the growth of the automotive battery management system market during the forecast period. An electronic vehicle refers to a vehicle that uses an electronic motor instead of an internal combustion engine. An automotive battery management system helps electronic vehicles by ensuring that the battery is protected and any operation out of its safety limit is prevented, and by monitoring the battery pack’s state of charge (SOC) along with the state of health (SOH). For instance, according to Argonne National Laboratory, a US-based department of energy multidisciplinary science and engineering research center, in March 2021, Americans purchased 75,959 Hybrid-Electric Vehicles (HEVs). Further, according to International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric cars topped 6.6 million globally in 2021. Therefore, the increased adoption of electric vehicles globally is predicted to boost demand for automotive battery management systems during the forecast period.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The automotive battery management system market covered in this report is segmented –
1) By Connection Topology: Centralised Automotive Battery Management Systems, Distributed Automotive Battery Management Systems, Modular Automotive Battery Management Systems
2) By Propulsion Type: IC Engine Vehicle, Electric Vehicle (HEV, PHEV, and BEV)
3) By Vehicle Type: Passenger Cars, Commercial Vehicles
4) By Sales Channel: OEM Automotive Battery Management Systems, Aftermarket Automotive Battery Management Systems
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Regional Insights –
Asia-Pacific was the largest region in the automotive battery management system market in 2023, it is also expected to be the fastest-growing region in the automotive battery management system market during the forecast period. The regions covered in the automotive battery management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the automotive battery management system market report are Robert Bosch GmbH, Continental AG, Toshiba Corporation, Intel Corporation, NXP Semiconductors NV, LG Chem Ltd., Panasonic Corporation, Samsung SDI Co. Ltd., A123 Systems LLC, Denso Corporation, Build Your Dream Company Limited, Johnson Controls International plc, Eberspächer, Calsonic Kansei Corporation, Delphi Technologies, Lear Corporation, Hitachi Automotive Systems, NEC Energy Solutions, AVL List GmbH, Texas Instruments Incorporated, Infineon Technologies AG, ON Semiconductor Corporation, Analog Devices Inc., STMicroelectronics NV, Elithion Inc., Preh GmbH, Nuvation Energy, Tianneng Power International Ltd., Battery management system PowerSafe, Aeristech Limited
Table of Contents
1. Executive Summary
2. Automotive Battery Management System Market Report Structure
3. Automotive Battery Management System Market Trends And Strategies
4. Automotive Battery Management System Market – Macro Economic Scenario
5. Global Automotive Battery Management System Market Size and Growth
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31. Global Automotive Battery Management System Market Competitive Benchmarking
32. Global Automotive Battery Management System Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Automotive Battery Management System Market
34. Automotive Battery Management System Market Future Outlook and Potential Analysis
35. Appendix
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