A battery management system also abbreviated as BMS is an electronic framework which deals with the involvement of rechargeable battery. The most crucial function which a battery management system performs is a defense of a cell and hence it enables and ensures a long life of the battery. To warranty that the charge of a battery does not exceed beyond or under the battery’s limit, a battery management system has a self defending unit, also known as lithium ion protector. The lithium ion protector helps in the protection of cell from being getting damaged. In any case, if the lithium ion battery cells get overcharged due to some reason, those batteries may possibly get defected or damaged owing to the excessive heating. Hence, it is very important to install a battery management system to provide protection against serious problems like overvoltage. In addition, a battery management system helps in providing management of energy. A battery management system is used for various applications such as the handheld point of sales, also abbreviated as POS terminals. These handheld POS employ a battery implanted charger which comprises an inductor, a control device and a discharger.
Some of the key factors which are anticipated to fuel the growth of global battery management systems market include rising innovations in the automotive segment, viz. e-vehicles or electronic vehicles. The electronic vehicles have been witnessing increasing demand across the globe over the recent years. Moreover, automotive manufacturers are focusing on investing heavily in electronic vehicle solutions. Thus, increasing investments in electronic vehicles across the globe is a key factor fueling the growth of global battery management systems market.
The global battery management system market can be segmented on the basis of component, battery type, topology, application and geography. On the basis of component, the global battery management system market can be segmented into hardware component and software component. On the basis of battery type, the global battery management system market can be segmented into lithium ion battery, advanced lead acid batteries, nickel based batteries, flow batteries and others. On the basis of topology, the market is categorized into centralized, modular and distributed. On the basis of applications, the global battery management system market can be segmented into automotive, military, medical, telecommunication systems, renewable energy systems, and others. On the basis of region, the global battery management system market can be segmented into North America, Latin America, Europe, Middle East & Africa and Asia-Pacific. The healthy demand in Asia-Pacific is expected to be the key driving factor for the growth of global battery management system market. China is anticipated to lead the market, accounting for the largest share in battery management systems in Asia-Pacific. The significant growth in industrial production over the last few years in China is expected to be the prime factor behind the growth of battery management systems market in the region. The markets in other developing countries such as Brazil, Russia, Poland, Indonesia, New Zealand, Argentina and India among others are also anticipated to grow rapidly throughout the forecast period.
Major players operating in the global battery management system market are focusing on some key market strategies such as mergers and acquisitions to keep hold in the ever competitive market. Moreover, they are concentrating on collaborating with local players to increase their market reach as well as strengthen their goodwill in the market. Some of the major players in global battery management system market include Nuvation, Ventec S.A.S., TWS, Ashwoods Energy Limited, Vecture Inc., Lithium Balance, Larsen & Toubro Limited, Toshiba America, Inc., AVL, Merlin Equipment Ltd., Navitas System and Johnson Matthey among others.