Battery Monitoring System - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Battery Monitoring System Market is accounted for $3.35 billion in 2019 and is expected to reach $14.62 billion by 2027 growing at a CAGR of 20.2% during the forecast period. Increased operational efficiency of batteries, rising renewable power generation, and increasing demand for electric vehicles is some of the factors propelling the growth of the market. However, the high cost of these systems for larger battery solutions is hampering the growth of the market.
The battery monitoring system is a combination of hardware and software which ensures the optimal utilization of energy inside the battery. The battery monitoring system aims to notify the user about the existing scenario and the health of the battery or battery bank. It operates by preventing costly downtime due to unexpected battery failures.
Based on the battery type, the lithium-ion based segment is anticipated to hold considerable market share during the forecast period due to the increasing deployment of lithium-ion batteries in electric vehicles, power tools, and battery backup applications and increasing electric vehicle sales, wherein lithium-ion batteries are deployed. By geography, North America is expected to grow at a significant market share during the forecast period owing to the increasing investments in data centres, rising demand for hybrid electric vehicles, and growing renewable power generation capacities.
Some of the key players profiled in the Battery Monitoring System Market include NDSL, Texas Instruments, Powershield, Batterydaq, Canara, Eagle Eye, HBL, SBS, Schneider Electric, ABB, Socomec, and Curtis.
• Universal Xplorer Telecom Battery Monitor (UXTM)
• Universal Xplorer Industrial Battery Monitor (UXIM)
• Universal Battery Diagnostic System
• Software & Services
Connection Types Covered:
Battery Types Covered:
• Lithium-Ion Based
• Other Battery Types
• Intelligent Batteries
• Power Plant
End Users Covered:
• Telecommunication & IT
• Data Recorders
• Data Loggers
• Communication Networks
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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