Global Battery Monitoring System Market by Type, Component, Application, and Region: Global Industry Analysis and Forecast 2021 – 2030, report offers assembled trends and predictions to clients. The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, supervisory scenario & technological growth. The report is an intensive investigation portraying the details and the new opportunity appraisal of the market.
The factor that drives the demand for battery monitoring systems is their increasing adoption in electric vehicles. Energy shortage, depletion of fossil fuels, and rising vehicular pollution levels are the primary factors that have led to the development of EVs. In addition, the high costs of fuels utilized in combustion (IC) engines have also triggered the necessity for EVs. An EV may be a zero-emission vehicle that’s globally considered to be the long term of transportation. The battery plays a crucial role in powering an electrical vehicle. Batteries have several advantages such as low emission rates, high energy density, and long lifecycles and are used as the power source in EVs. Many governments globally have supported battery manufacturers for EVs to assist in transition their domestic energy supplies to renewables.
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Market Trends
- Growing Demands for Electricity at Various End-Use Industries Boosts Market Growth
The need to prevent unplanned outages, increase in demand for electric vehicles, and improved operational efficiency of batteries boost the demand for battery monitoring systems. In addition, increase in renewable power generation and the rise in use of battery monitoring systems in data center applications are expected to further aid the growth of this market.
- Growing Usage at Data Centers is Another Factor Help Market to Expand
Data centers contain servers, networking systems, and storage resources, which organize, store, and process data and knowledge. Data centers help organizations complete their core applications. Different types of batteries, such as lithium-ion batteries and lead-acid batteries, are used in data centers to support UPS systems and provide back-up power over long periods. Proper monitoring of batteries in data centers is important as battery failures may disrupt operations and end in financial losses. Thus, battery monitoring systems that are integrated with the batteries enhance the operations and safety of knowledge centers.
- Increased Focus on Environmental Safety Concerns is Key Driver for Market
Demand for clean energy has increased significantly due to the rise in awareness and increase in concerns regarding global warming. This has led to a shift toward sources of energy such as solar, wind, and environmentally friendly electric and hybrid vehicles. Energy storage is a grave concern for successful implementation of these clean solutions. It can be resolved by the application of battery of various capacities for energy storage. Hence, monitoring of these batteries is an important task that helps ensure the proper working of these clean technologies and applications that are directly or indirectly dependent on battery. Battery monitoring system continuously measures, records, monitors, and analyses various parameters for individual cells and battery modules. Analyzing the data obtained from battery monitoring helps one to know the condition of the battery or cell. It would also help in taking proper actions in order to avoid unplanned power outages.
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The market is analyzed based on regions and competitive landscape in each region is mentioned. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.
Key Market Players in Battery Monitoring System Market
HBL Power Systems Ltd., Socomec, Storage Battery Systems, Nuvation Energy, ABB, Schneider Electric, Vertiv Holdings Corp., Cellwatch, Batterydaq, Powershield Limited, CPG (Canara), Btech Inc., LLC, Texas Instruments Incorporated, and Eagle Eye Power Solutions
Highlights of the study report
- A thorough assessment of the matrix of vendors as well as major firms would help in understanding the competitive scenario in the market
- Information on regulatory and investment scenarios for the market
- An analysis of the factors fueling the market growth along with their influence on the projection and dynamics of the Battery Monitoring System Market
- A detailed roadmap presenting growth opportunities in the Battery Monitoring System Market along with identification of key factors influencing the market growth
- A comprehensive assessment of the many trends prevailing in the Battery Monitoring System market would help in identifying market developments
Key Market Segments
By Type
- Wired
- Wireless
By Component
- Hardware
- Software
By Application
- Telecommunication
- Automotive
- Energy
- Industries
- Others