Boom Expected in Automotive Battery Management System Market in Future

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A battery management system (BMS) is an intrinsic component of an automobile as it maintains the battery in operational condition, predicts battery life, and protects the storage units from damage. The system performs these tasks by controlling the charging process, protecting and balancing the cells, storing and monitoring historical operational data, and determining the state of health (SOH), remaining useful life (RUL), and state of charge (SOC) of the battery. This system aims to optimize the run-time per discharge cycle and the number of life cycles that can be attained by the battery during its lifetime.

Automotive Battery Management System Market Report 2021


This system is integrated into electric vehicles (EVs) and hybrid electric vehicles (HEVs) to improve the battery life and protect it from any damage. With the increasing environmental concerns, the sales of these vehicles have witnessed a significant spike in recent years. According to the International Energy Agency (IEA), more than 10.2 million EVs were in operation across the world in 2020. The surging adoption of these new-energy vehicles will thus support the automotive battery management system market growth in the coming years.

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Resultingly, according to P&S Intelligence, Asia-Pacific (APAC) dominates the automotive battery management system market, wherein China is the leading procurer of such solutions. The dominance of APAC can be credited to the favorable initiatives and policies supporting the production of EVs in China. Apart from China, Japan and India are expected to procure automotive BMSs in abundance. Among many initiatives, the increasing attempts by governments to end the production and sales of diesel- and gasoline-powered vehicles will support the adoption of such systems, by amplifying EV sales.

Thus, the surging EV sales on account of the escalating environmental concerns and strong government support will boost the adoption of automotive BMSs in the foreseeable future.

Explore Full Report Description At: https://www.psmarketresearch.com/market-analysis/automotive-battery-management-system-market

This study covers

1.     Historical and the present size of the Automotive Battery Management System Market

2.     Future potential of the market through its forecast for the period 2020– 2030

3.     Historical and the present size of the market segments and understand their comparative future potential

4.     Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

5.     Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders

6.     Major players operating in the market and their service offerings

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