Battery Management System Market To Reach USD 26,797 Million by 2030
The total revenue which was generated by battery management system market was USD 7,177.5 million in 2022, and it will reach USD 26,797 million by 2030, growing at a rate of 17.90% by the end of this decade, as stated by P&S Intelligence.
The modular topology will grow the fastest in the future. Most of the producers want modular topology, as it is safe and offers momentary computational power, as it does not want widespread wire harnesses.
Modular topology is also appropriate for a variety of applications for example in industrial UPS, parts of electric vehicles, medical mobility vehicles, energy storage systems, and drones. Therefore, the growing requirement for modular topology from these applications will drive the industry in the years to come.
The centralized topology dominated the industry. A single controller board is directly related to each battery pack cell in the centralized system.
Numerous wire harnesses are regularly used to route voltage levels for all cells in the battery, accompanied by temperature sensors dispersed throughout the battery. These BMS, though, are not expandable. The central construction is frequently lucrative; although, it is not scalable.
The automotive category will experience the fastest growth in the years to come, because of the increasing acceptance of EVs globally.
Numerous governments globally are resulting in acceptance of such new-energy automobiles. Also, governments are taking initiatives for promoting electric vehicles for reducing the releases from diesel and petrol vehicles.
Cloud-connected systems have numerous benefits, such as online monitoring and examination of battery data, approximation of the precise SOC and SOH, and early discovery of possible major faults.
It also supports in forecasting the remaining usable life of the battery cells, allowing for battery state monitoring. Since these advantages, businesses have started to use cloud-connected battery control systems, which will fuel the expansion of the industry in the years to come.
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