Market Overview

Battery Monitoring System Market - Global Forecast to 2022

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Dublin, April 10, 2018 (GLOBE NEWSWIRE) -- The "Battery Monitoring System Market by Component (Hardware, Software), Type (Wired, Wireless), Battery Type (Lithium-Ion Based, Lead-Acid), End-User (Telecommunications, Automotive, Energy, Industries), and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.

The battery monitoring system market is projected to reach USD 5.47 billion by 2022, from an estimated USD 2.37 billion in 2017, at a CAGR of 18.23%, during the forecast period.

The need to prevent unplanned outages, increasing demand for electric vehicles, and improved operational efficiency of batteries have boosted the demand for battery monitoring systems. In addition, increasing renewable power generation and the growing use of battery monitoring systems in data center applications would further aid the growth of this market. The high costs of battery monitoring systems for larger battery solutions would act as a restraint for the battery monitoring system market.

The hardware segment is estimated to be the fastest-growing battery monitoring system market, by component, from 2017 to 2022. The growth of this segment can be attributed to simple installation, reduced need of cabling, and fast data sampling of components such as sensors, hub, and controllers. Asia Pacific and North America are the key markets for hardware due to the rising demand for monitoring the state of health and state of charge of batteries with the help of hardware components. All these factors are expected to drive the battery monitoring system market during the forecast period.

The wired segment is estimated to be the larger market for battery monitoring systems in 2017. Wired systems are used in applications where there is more electrical interference such as data centers, which is expected to be the largest end-user segment of battery monitoring systems.

North America is expected to be the largest market for battery monitoring systems in 2017, followed by Asia Pacific and Europe. The market in North America is driven by rising electric vehicle sales, growing investments in data centers, and rising renewable power generation capacities in the region. It is projected to grow at the second-fastest rate during the forecast period. The US and Canada are estimated to be the largest markets for battery monitoring systems in the region.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Battery Monitoring System Market, By Country
4.2 Battery Monitoring System Market, By Component
4.3 Battery Monitoring System Market, By Type
4.4 Battery Monitoring System Market, By Battery Type
4.5 Battery Monitoring System Market, By End-User
4.6 North America Battery Monitoring System Market, By Country and Battery Type

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Preventing Unplanned Outages
5.2.1.2 Increased Operational Efficiency of Batteries
5.2.1.3 Rising Demand for Electric Vehicles
5.2.2 Restraints
5.2.2.1 High Cost of Battery Monitoring Systems for Larger Battery Solutions
5.2.3 Opportunities
5.2.3.1 Rising Demand for Battery Monitoring Systems for Datacenter Applications
5.2.3.2 Increasing Renewable Power Generation
5.2.4 Challenges
5.2.4.1 Presence of A Large Number of Local and Regional Players

6 Battery Monitoring System Market, By Component
6.1 Introduction
6.2 Hardware
6.3 Software

7 Battery Monitoring System Market, By Type
7.1 Introduction
7.2 Wired Battery Monitoring System
7.3 Wireless Battery Monitoring System

8 Battery Monitoring System Market, By Battery Type
8.1 Introduction
8.2 Lithium-Ion Based Battery
8.3 Lead-Acid Battery
8.4 Others

9 Battery Monitoring System Market, By End-User
9.1 Introduction
9.2 Telecommunications
9.3 Energy
9.4 Automotive
9.5 Industries
9.6 Others

10 Battery Monitoring System Market, By Region

11 Competitive Landscape
11.1 Overview
11.2 Ranking of Players Analysis
11.3 Competitive Scenario
11.3.1 Contracts & Agreements
11.3.2 New Product Launches
11.3.3 Investments & Expansions
11.3.4 Partnerships

12 Company Profiles

  • ABB
  • Batterydaq
  • Btech
  • Canara
  • Curtis
  • Eagle Eye
  • HBL
  • NDSL
  • Powershield
  • SBS
  • Schneider Electric
  • Socomec
  • Texas Instruments

For more information about this report visit https://www.researchandmarkets.com/research/m5s23z/battery?w=12



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         Related Topics: Battery Technology

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