Battery Management Integrated Circuits (ICs) Market Growth Trajectory Through 2024-2033

The Battery Management Integrated Circuits (ICs) Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Battery Management Integrated Circuits (ICs) Global Market Report 2024, The battery management integrated circuits (ICs) market size has grown strongly in recent years. It will grow from $4.87 billion in 2023 to $5.20 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to rise in demand for portable electronics, growth of the electric vehicle industry, rise in the need for efficient battery utilization, surge in the miniaturization of electronic devices, and increase in regulatory mandates for energy efficiency.

The battery management integrated circuits (ICs) market size is expected to see strong growth in the next few years. It will grow to $6.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to rising adoption of electric vehicles, growing demand for portable consumer electronics, increasing emphasis on renewable energy storage, expanding IoT applications, increasing stringent safety regulations, and increasing need for efficient power management solutions. Major trends in the forecast period include integration of AI and machine learning, development of more efficient and compact ICs, advancements in ultra-fast charging capabilities, adoption of advanced thermal management techniques, and advancements in wireless battery management solutions.

The rising demand for electric vehicles is expected to propel the growth of the battery management integrated circuit (IC) market going forward. Electric vehicles (EVs) are automobiles powered entirely or primarily by electric motors, which use electrical energy stored in batteries or other energy storage devices. The rising demand for electric vehicles is attributed to technological advancements, environmental concerns, economic benefits, government incentives, safety improvements, consumer demand, and infrastructure development. Battery management ICs help electric vehicles by optimizing battery performance, ensuring safe charging and discharging, balancing cell charge levels, and providing critical data on battery health and state of charge. For instance, in April 2024, according to the International Energy Agency, a France-based intergovernmental organization, sales of electric vehicles increased by 3.5 million in 2023 compared to 2022, a 35% annual rise. Therefore, the rising demand for electric vehicles drives the battery management integrated circuit (IC) market.

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The battery management integrated circuits (ICs) market covered in this report is segmented –

1) By Integrated Circuit (IC) Type: Battery Integrated Circuits (ICs), Battery Authentication Integrated Circuits (ICs), Battery Fuel Gauge Integrated Circuits (ICs), Battery Protector Integrated Circuits (ICs)
2) By Battery Type: Lithium-ion-based, Lead-acid-based, Nickel-based, Flow Batteries, Other Batteries
3) By Application: Automotive, Industrial Equipment, Medical Devices, Consumer Electronics, Other Applications

Major companies operating in the battery management integrated circuit (IC) market are developing innovative products such as integrated fuel gauges to enhance the accuracy and efficiency of battery monitoring systems, optimize energy usage, and extend the lifespan of batteries in various applications. An integrated fuel gauge in a management integrated circuit (IC) is a component that monitors and displays the charge level or remaining capacity of a battery. It provides real-time information about the battery’s state, helping to manage its usage efficiently and prevent overcharging or deep discharging. For instance, in November 2021, Analog Devices Inc., a US-based semiconductor company, launched the MAX17330 battery management integrated circuit (IC). This battery management integrated circuit (IC) with an integrated fuel gauge and advanced battery protection is designed for one-cell lithium-ion/polymer batteries. This IC enhances battery runtime for consumer applications by providing superior management and protection compared to similar products. The MAX17330 is engineered to extend battery runtime and monitor internal cell self-discharge risks while reducing the size of solutions for single-cell battery-powered devices.

The battery management integrated circuits (ics) market report table of contents includes:

1. Executive Summary
2. Battery Management Integrated Circuit (IC) Market Characteristics
3. Battery Management Integrated Circuit (IC) Market Trends And Strategies
4. Battery Management Integrated Circuit (IC) Market – Macro Economic Scenario
5. Global Battery Management Integrated Circuit (IC) Market Size and Growth
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32. Global Battery Management Integrated Circuit (IC) Market Competitive Benchmarking
33. Global Battery Management Integrated Circuit (IC) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Battery Management Integrated Circuit (IC) Market
35. Battery Management Integrated Circuit (IC) Market Future Outlook and Potential Analysis
36. Appendix

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