Battery Management Systems Market: increasing demand for battery solutions due to high power needs through 2020.
Battery management systems manage and protect the cells in a battery pack. These manage the rechargeable batteries by monitoring the state of the device and data ensures log life battery and protects the battery from damage. These comprise of functional blocks that include cell voltage monitor, real time clock, temperature monitors, microcontroller and others. There is high demand for the Battery Management Systems Market during 2015-2020.
Regional forecast of the Battery Management Systems Market:
According to the IndustryARC market research study, Asia Pacific is the leading region in the Battery Management Systems Market closely followed by North America. Asia Pacific is expected to witness high demand for battery monitoring system and battery manager during 2015-2020.
In the Battery Management Systems Market, the key drivers for the growing demand for battery management systems include increasing demand for electric vehicles, energy storage systems and increasing devices with equipment.
North America is the second leading region in the Battery Management Systems Market through 2020. This region has high power consumption and thus, it is expected to have good demand battery systems in upcoming years. Europe is expected to have high demand for battery management systems for power functions in household applications through 2020.
Segmentation and key players of the Battery Management Systems Market:
The Battery Management Systems Market is segmented into various categories in the IndustryARC market research analysis report by component, by applications, by end user industry, by topology and by geography.
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By component: power module, battery, communication channel, DC/ AC convertor and load
By applications: energy harvesting and Nano power solutions, electric bicycle solutions, wireless power devices, handheld consumer medical equipment, portable industrial solutions, automotive power solutions and others
By end user industry: automotive, telecom, power grid, wind, solar and others
By topology: distributed, modular and centralized
By geography: North America, South America, Europe, Asia Pacific and ROW
The key players in the Battery Management Systems Market as mentioned in the IndustryARC research report are as follows:
- Larsen & Toubro Limited (India)
- Lithium Balance Corporation (Denmark)
- Toshiba Corporation (Japan)
- Merlin Equipment Ltd. (U.K)
- Johnson Matthey Battery Systems (U.K)
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The Battery Management Systems Market is a rapidly growing market owing to the rise of storing electricity for various applications across the globe. This market is expected to witness high growth due to rise in power consumption in various regions during 2015-2020.
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