Feb 4, 2022   SOURCE: BusinessWire

The Worldwide Battery Monitoring System Industry is Expected to Reach $8+ Billion by 2027 - ResearchAndMarkets.com

The "Global Battery Monitoring System Market, By Battery Type (Lithium Ion Based Battery, Lead Acid Battery, Others), By Component (Hardware, Software), By Type, By End User, By Region, Competition Forecast and Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.

The Global Battery Monitoring System Market stood at USD 3742.56 million in 2021 and is anticipated to grow with a CAGR of 14.21% in the forecast period to reach USD 8376.15 million by 2027.

Increasing production and sales of electric vehicles, ongoing technological innovations, and the high demand for lithium-ion batteries are the key factors expected to drive the demand for the Global Battery Monitoring System Market in the forecast period.

Ongoing technological advancements, high internet penetration, and the rapid adoption of internet of things technology are fueling the demand for battery monitoring systems across the globe. The introduction of the wireless battery monitoring system is expected to create lucrative opportunities for the market growth as they are flexible, lightweight, and faster than its wired counterpart. Rising pollution levels and stringent emission regulations set up by government officials of several countries are accelerating the demand for electric vehicles as they are zero-emission vehicles.

A battery monitoring system aids in improving the battery life and lowering the maintenance and replacement cost of batteries. The telecommunication industry is rapidly adopting a battery monitoring system to prevent power failure and provides the operators the opportunity to monitor remotely and detect the potential faults at the battery and cell levels. However, lack of awareness and high cost of the battery monitoring system may hinder the market growth in the forecast period.

The Global Battery Monitoring System Market is segmented based on battery type, component, type, end-user, region, and company. Based on battery type, the market is fragmented into lithium ion-based battery, lead acid battery, others. The lithium ion-based battery is expected to hold the largest market share in the forecast period, 2023-2027, as they provide several advantages over traditional batteries such as fast charging, recyclable nature, high energy density, amongst others.

Companies Mentioned

  • Curtis Instruments, Inc.
  • Power Shield Limited
  • Schneider Electric SE
  • Socomec Group
  • Capitol Power Group, LLC
  • BTECH, Inc.
  • ABB Ltd.
  • Battery Data Acquisition
  • Exponential Power, Inc.
  • HBL Power Systems Limited
  • Texas Instruments Inc.
  • Analog Device Inc.
  • Shenzhen Relat Electronic Technology Co., Ltd.
  • Eagle Eye Power Solutions, LLC
  • Raytheon Technologies Corp.

Objective of the Study:

  • To analyze the historical growth in the market size of the Global Battery Monitoring System Market from 2017 to 2021.
  • To estimate and forecast the market size of the Global Battery Monitoring System Market from 2022 to 2027 and growth rate until 2027.
  • To classify and forecast the Global Battery Monitoring System Market based on battery type, component, type, end-user, region, and company.
  • To identify the dominant region or segment in the Global Battery Monitoring System Market.
  • To identify drivers and challenges for the Global Battery Monitoring System Market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Battery Monitoring System Market.
  • To identify and analyze the profiles of leading players operating in the Global Battery Monitoring System Market.
  • To identify key sustainable strategies adopted by market players in the Global Battery Monitoring System Market.

Key Topics Covered:

1. Battery Monitoring System: Product Overview

2. Research Methodology

3. Impact of COVID-19 on Global Battery Monitoring System Market

4. Executive Summary

5. Voice of Customer

5.1. Brand Awareness

5.2. Key Factors Influencing Purchase Decision

5.3. Customer Satisfaction

5.4. Key Challenges Faced

6. Global Battery Monitoring System Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Battery Type (Lithium Ion Based Battery, Lead Acid Battery, Others)

6.2.2. By Component (Hardware, Software)

6.2.3. By Type (Wired Battery Monitoring System, Wireless Battery Monitoring System)

6.2.4. By End User (Telecommunications, Energy, Automotive, Others)

6.2.5. By Region

6.2.6. By Company (2020)

6.3. Market Map (By Battery Type, By Component, By Type, By End User, By Region)

7. North America Battery Monitoring System Market Outlook

8. Asia-Pacific Battery Monitoring System Market Outlook

9. Europe Battery Monitoring System Market Outlook

10. South America Battery Monitoring System Market Outlook

11. Middle East & Africa Battery Monitoring System Market Outlook

12. Market Dynamics

12.1. Drivers

12.2. Challenges

13. Market Trends and Developments

14. Company Profiles

15. Strategic Recommendations

For more information about this report visit https://www.researchandmarkets.com/r/sxadi