The mounting integration of portable batteries in consumer electronics, growing inclination toward electric vehicles, and energy storage solutions are the key factors boosting the demand for battery management modules. Currently, computers, smartphones, tablets, and other consumer electronic devices are powered by batteries, especially lithium-ion batteries. The demand for advanced energy storage technologies is playing a pivotal role in the decarbonization of modern economies. In the last few years, these advanced technologies have contributed to the evolution of energy & power, automotive, medical, and electronics industries. Regardless of the existence of technologies such as the application of battery technologies has offered the energy and power solutions to meet the technical demands of the energy storage in these sectors. The market players are investing significant amounts in adopting newer and robust technologies to further enhance their respective products.
In the automobile industry, various commercial vehicles and passenger cars are still developing, which demand enhanced energy storage systems. The availability of advanced battery technologies has encouraged automotive OEMs to adopt the battery management module. Several developing countries in APAC and South America, such as India, China, and Brazil, play a crucial role in the growth of the automotive and consumer electronics industry. APAC is home to several automotive players' factories. Moreover, various companies in APAC are proceeding with battery production projects in Europe. For instance, Northvolt (Sweden), LG Chem (Poland), Terra E Holding (Germany), and SK Innovation (Hungary) have announced their respective battery projects with battery cell production requiring battery management module for enhanced energy storage.
Players present in the battery management modules market takes steps to strengthen their services portfolio in order to have high clientele. To accomplish this goal, companies take initiatives with respect to merger & acquisitions of other players, which would eventually help to increase their business revenue, geographical imprints throughout the globe. For instance, NXP Semiconductor, a US-based company, collaborated with Volkswagen centered on the electronics for electric vehicles (EVs). Volkswagen adopted NXP’s battery management system (BMS) into its innovative MEB platform to help increase vehicle range, extend battery longevity, and enhance safety.
Battery Management Modules Market — Geographic Breakdown, 2019
Battery Management Module Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Topology (Distributed, Centralized, and Hybrid); Component (Hardware and Software); End-User (Automotive, Medical, Energy & Power, Consumer Electronics, IT & Telecom, and Others), and Geography
Battery Management Module Market Trends and Scope by 2031
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Source: The Insight Partners Analysis
The report segments the global battery management module market as follows:
Global Battery Management Modules Market – By Topology Type
- Distributed
- Centralized
- Modular
Global Battery Management Modules Market – By Component
- Hardware
- Battery Control Unit
- Power Module
- Communication Channel
- Software
Global Battery Management Modules Market – By End-User
- Automotive
- Medical
- Power & energy
- Consumer Electronic
- IT & Telecom
- Others
Global Battery Management Module Market – By Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Russia
- UK
- Rest of Europe
- Asia Pacific (APAC)
- China
- Australia
- India
- Japan
- South Korea
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- U.A.E.
- Rest of Middle East and Africa
- South and Central America (SAM)
- Brazil
- Argentina
- Rest of South America
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