Electric Vehicle Battery Management System (EVBMS) Market Size Estimated to Attain USD 17.13 Billion in 2030 CAGR of 15.2% | Reports and Data

2023-01-30 20:44:37 By : Ms. Joyce Wang

Increasing popularity of electric vehicles and rising government initiatives to reduce pollution levels are some key factors driving market revenue growth

Market Size – USD 4.85 Billion in 2021, Market Growth – at a CAGR of 15.2%, Market Trend – Rising trend of electric public transport Bms For Lifepo4

Electric Vehicle Battery Management System (EVBMS) Market Size Estimated to Attain USD 17.13 Billion in 2030 CAGR of 15.2% | Reports and Data

The global Electric Vehicle Battery Management System (EVBMS) market size is expected to reach USD 17.13 Billion in 2030 and register a revenue CAGR of 15.2% over the forecast period, according to latest report by Reports and Data. Rising demand for Electric Vehicles (EVs) globally, as well as increasing demand for sustainable and clean energy vehicles, are some key factors expected to drive market revenue growth over the forecast period.

Supportive government initiatives in various countries that provide benefits to consumers, such as financial incentives on purchasing EVs or significant reduction in certain taxes, are expected to have a positive impact on market growth. In addition, increasing focus to reduce reliance on gasoline-powered vehicles is another factor expected to drive market growth.

Electric Vehicle Battery Management System (EVBMS) helps in improving overall efficiency and performance of vehicles. Generally, battery packs in an EV consume a high amount of power during sudden braking and release required for crucial speed support. Moreover, rising focus on electrification of electric as well as non-electric vehicles has increased the overall power load on the battery pack. EVBMS is widely used to mitigate such challenges, as this system controls overall supply equipment loads of the mechanics that consist of a monitor, communication equipment, and other applicable devices. The main purpose of this system is to reduce load and further improve performance of electric vehicles.

Leading EV battery manufacturers are focusing on offering personalized smart battery solutions to provide extensive system diagnostics, such as state of charge, accurate cell voltage, cell balancing, and temperature monitoring in real time by adopting modern technologies, including Internet of Things (IoT) and data analytics. Moreover, OEMs, battery pack manufacturers, and electric mobility fleet operators are leveraging smart hardware and data science to improve health insights as well as to constantly monitor and improve performance of the battery.

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Major players operating in the market include Contemporary Amperex Technology Co. Limited (CATL), Panasonic Corporation, Cummins, SAIC Motor Corporation Limited, Continental AG, and Renesas Electronics Corporation.

Some Key Highlights in the Report

For this report, Reports and Data has segmented the global Electric Vehicle Battery Management System (EVBMS) market based on component, propulsion type, vehicle type, and region:

To understand how our Electric Vehicle Battery Management System (EVBMS) Market report can bring difference to your business strategy:–Download Summary 

Type Outlook (Revenue, USD Billion; 2019-2030)

Vehicle Type Outlook (Revenue, USD Billion; 2019-2030)

Application Outlook (Revenue, USD Billion; 2019-2030)

Regional Outlook (Revenue, USD Billion; 2019-2030)

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Key Attentions of Electric Vehicle Battery Management System (EVBMS)Market Report:

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Electric Vehicle Battery Management System (EVBMS) Market Size Estimated to Attain USD 17.13 Billion in 2030 CAGR of 15.2% | Reports and Data

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