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, powering 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 wish modular topology, as it is safe and bids momentous 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 through the battery. These BMS, though, are not expandable. The central construction is frequently lucrative; though, it is not scalable.
It also supports in forecasting the remaining usable life of the battery cells, letting 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.
APAC battery management system market had the largest share in the past. This is because of the increase in requirement for battery management from automotive uses for example e-bikes, e- automobiles, and automated guided vehicles. In these applications, high-energy-density Li-ion batteries with hundreds of cells loaded in series are used.
Additionally, China is a main hub of automotive manufacturing. The market of the country is driven by an increase in the making of vehicles and batteries used in automobiles. Also, China leads the production of electrical equipment. This will fuel the product requirement across a variety of applications.
It is because of the increasing acceptance of electric vehicles, the demand for the battery management systems will continue to rise in the years to come.
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