Automotive Battery Management System Market worth $11.7 billion in 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Oct. 30, 2023 /PRNewswire/ -- The global automotive battery management system (BMS) market size is expected to grow from USD 4.7 billion in 2023 to USD 11.7 billion in 2028, at a CAGR of 19.8% from 2023 to 2028 according to a new report by MarketsandMarkets™. Environmental awareness and government incentives mainly drive the surging demand for electric vehicles. The increasing adoption of EVs can also be attributed to advancements in battery technologies, such as enhanced energy density and cost reductions, necessitating the integration of BMS for proficient battery management. The adoption of BMS technology is further accelerated by the declining costs associated with battery production and heightened competition in the EV sector. The global shift toward sustainability and environmental consciousness expands the adoption of electric vehicles, supporting the BMS market growth.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=15321159

Browse in-depth TOC on "Automotive Battery Management System Market"

100 – Tables
50 – Figures       
200 – Pages

Automotive Battery Management System Market Report Scope:

The market for the distributed topology segment is expected to gain a significant market share during the forecast period.

In the distributed battery management system topology, each cell in the battery pack has a dedicated slave board that measures and controls an individual cell. Each cell is connected to voltage signals, a temperature sensor, and serial internal and external communication cables. This topology is much easier to install than a centralized topology. The advantages of distributed BMS are their simple design and high reliability. However, the cost of a distributed system can be much higher for battery packs with many cells than that of a centralized system. The distributed topology in a battery management system is the simplest to mount and offers a neat assembly. It is best suited for high-power applications such as electric vehicles.

Commercial vehicles segment is expected to grow at an impressive CAGR during the forecast period.

The commercial vehicles segment primarily includes electric buses and electric trucks. In recent years, there has been a rise in the adoption of electric transportation. The economies worldwide have set their goals for net zero emissions, and countries worldwide are shifting to electric vehicles. One of the most important modes of urban commercial transportation worldwide is buses. There has been an increasing adoption of electric buses and coaches by public authorities, non-profit organizations, and private companies. In the coming years, the penetration of commercial vehicles is predicted to rise owing to the net zero emissions goals. Consequently, the automotive BMS market is also predicted to rise during the forecast period.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=15321159

Europe is expected to hold a significant market share of the automotive BMS market during the forecast period.

The European automotive battery management system industry has been segmented into Germany, the UK, France, and the Rest of Europe. The emerging electric vehicle market is positively impacting the region's manufacturing of lithium-ion battery cells/packs and related components such as BMS. Europe also has a significant presence of automobile manufacturers. With the rising trend of e-mobility, a massive demand for electric vehicle batteries in the region has been created. These factors are driving the growth of the automotive battery management system market in this region. Furthermore, the demand for automotive BMSs in this region is attributed to the presence of manufacturing facilities of major automotive manufacturers, such as the BMW Group (Germany), Mercedes-Benz Group AG (Germany), and Volkswagen AG (Germany).

The key players in the automotive battery management system companies include Eberspächer (Germany), Sensata Technologies, Inc. (US), AVL (Austria), LG Energy Solution (South Korea), Ficosa Internacional SA (Spain), Leclanché SA (Switzerland), Nuvation Energy (US), Futavis GmbH (Germany), AMP (US) and others.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=15321159

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Lithium-ion Battery Market by Type (NMC, LFP, LCO, LTO, LMO, NCA), Capacity (Below 3,000 mAh, 3,001 mAh–10,000 mAh, 10,001 mAh–60,000 mAh, Above 60,000 mAh), Voltage (Below 12V, 12V–36V, Above 36V), Application and Region - Global Forecast to 2032

Battery Management System Market by Type (Motive Battery and Stationary Battery), Battery Type (Lithium-ion, Lead-acid, Nickel-based, Solid-state, Flow battery), Topology (Centralized, Distributed and Modular), Application and Region - Global Forecast to 2028

Supercapacitor Market by Type (Double Layer Capacitors, Pseudocapacitors, Hybrid Capacitors), Electrode Material (Carbon, Metal Oxide, Conducting Polymers, Composites), Application (Automotive, Energy, Consumer Electronics) - Global Forecast to 2027

Solid-State Battery Market by Type (Single-cell, Multi-cell), Capacity (Below 20 mAh, 20–500 mAh, Above 500 mAh), Battery Type (Primary, Secondary), Application (Consumer Electronics, Electric Vehicles, Medical Devices), Region - Global Forecast to 2030

Silicon Battery Market by Capacity (<3,000 mAh, 3,000–10,000 mAh, >10,000 mAh), Component (Cathode, Anode, Electrolyte), Application (Aerospace & Defense, Consumer Electronics, Automotive, Medical Devices, Energy) and Region - Global Forecast to 2028

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/automotive-battery-management-system-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/automotive-battery-management-system.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg